Dublin, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The "Global Loyalty Management Market (2020-2025) by Solution, Verticals, Organization Type, Deployment, Type of Offering Capacity, Application, Geography and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Loyalty Management Market is estimated to be USD 6.8 Bn in 2020 and is expected to reach USD 15.4 Bn by 2025, growing at a CAGR of 17.8%.
The Global Loyalty Management Market is witnessing significant growth, owing to the intensified competition, increasing customer acquisition cost, implementing a customer-centric approach across business, and rewarding schemes offered by organizations.
Stringent government rules and regulations affect the growth of the Global Loyalty Management Market. Government regional laws such as trading stamp laws, gift certificate laws, privacy laws, and data security may restrict the adoption of loyalty programs. The lack of awareness of the rewards of the loyalty programs challenges market growth. But, the growing investments in card loyalty systems and the rapid adoption of advanced technologies help increase the application of big data and machine learning that helps to provide opportunities for the Loyalty Management Market in the future.
Loyalty Management is defined as a strategy or tool by which the company acquires, engages, and retains its customers. Loyalty Management enables enterprises to enhance customer loyalty and increase their sales and revenue. Enterprises offer various loyalty programs such as reward points, discounts, offers, and gift vouchers across banking, grocery shopping, dining, etc., under loyalty management. Companies also arrange rewards to the customers on purchase. These rewards are designed for the customers based on their past purchases to influence them to make more purchases in the future. Sometimes, enterprises face challenges to manage all the loyalty programs across different locations based on standard rules to provide similar services for all customers.
Therefore, software solution companies have introduced loyalty management software to manage these loyalty programs. This loyalty management software focuses on a customer-centric approach that leads to offering multiple loyalty programs for customer retention, cross-selling, and to increase the level of customer penetration. It also helps enterprises get customer feedback on different programs and offer a better solution/program. Hence, enterprises are highly adopting loyalty solutions to gain repetitive sales for brands.
B2C companies are exceedingly adopting loyalty management solutions as these companies are trying to provide the real-life benefits of customer experience management for their reputation. The increasing demand for android phones in B2C loyalty programs is also forcing vendors to develop more updated smartphones oriented programs. Seasonal discounts and offers along with free shipping, are also the major drivers for choosing loyalty programs, especially for the retailers. Hence, this creates a huge demand for loyalty management software during the festive seasons or special days.
Market Dynamics
Drivers
- Rising Trend of Loyalty Programs
- Technological Advancement in Mobile Technology and Applications
- The Rise in the Number of Cardholders and the Use of Reward Points
- Growing Customer Preference for Personalization to Push Loyalty Program Adoption
Restraints
- Inconsistent Customer Experience Feedback
- Stringent Government Regulations
- Lack of Awareness of the Benefits of Loyalty Programs
Opportunities
- Increased Investments in Loyalty System Technology
- Rising Application of Big Data and Machine Learning
- The Growing Importance of Customer Insights to Predict the Customer Intents
Some of the companies covered in this report are AIMIA Inc., Bond Brand Loyalty Inc., IBM Corporation, Oracle Corporation, Comarch SA, SAP SE, Epsilon Data Management, LLC, ICF International Inc., Kobie Marketing, Inc., TIBCO Software Inc., MicroStrategy, Inc., Apex Loyalty, Sailplay, The Lacek Group Inc., Paystone Inc., Capillary Technologies, Annex Cloud, Brierley+Partners, Fidelity National Information Services, Inc. and Lumata Group
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- The report offers a comprehensive evaluation of the Global Image Sensor Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.
- The report also contains the competitive analysis using IGR Competitive Quadrant, the analyst's proprietary competitive positioning tool
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1. Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2. Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3. Executive Summary
4. Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.3 Trends
5. Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
5.4 SWOT Analysis
6. Global Loyalty Management Market, By Solution
6.1 Introduction
6.2 B2C
6.3 B2B
6.4 Corporate
7. Global Loyalty Management Market, By Vertical
7.1 Introduction
7.2 Banking and Financial Institutions
7.3 Hospitality
7.4 Retail & Consumer Goods
7.5 IT & Telecommunication
7.6 Media & Entertainment
7.7 Healthcare
7.8 Manufacturing
8. Global Loyalty Management Market, By Organization Type
8.1 Introduction
8.2 Small & Medium-Sized Enterprises
8.3 Large Enterprises
9. Global Loyalty Management Market, By Deployment
9.1 Introduction
9.2 Cloud
9.3 On-Premises
10. Global Loyalty Management Market, By Type of Offering Capacity
10.1 Introduction
10.2 Loyalty Marketing
10.3 Loyalty Strategy Design
10.4 Loyalty Management
10.5 Analytics and Measurement
10.6 Technology Platform Capabilities
10.7 Service Delivery Capabilities
11. Global Loyalty Management Market, By Application
11.1 Introduction
11.2 Web
11.3 Mobile
12. Global Loyalty Management Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 South America
12.3.1 Brazil
12.3.2 Argentina
12.4 Europe
12.4.1 UK
12.4.2 France
12.4.3 Germany
12.4.4 Italy
12.4.5 Rest of Europe
12.5 Asia-Pacific
12.5.1 China
12.5.2 Japan
12.5.3 India
12.5.4 Australia
12.5.5 Rest of APAC
12.6 Middle East and Africa
13. Competitive Landscape
13.1 IGR Competitive Quadrant
13.2 Market Share Analysis
13.3 Competitive Scenario
13.3.1 Mergers & Acquisitions
13.3.2 Agreements, Collaborations, & Partnerships
13.3.3 New Product Launches & Enhancements
13.3.4 Investments & Fundings
14. Company Profiles
14.1 AIMIA Inc.
14.2 Bond Brand Loyalty Inc.
14.3 IBM Corporation
14.4 Oracle Corporation
14.5 Comarch SA
14.6 SAP SE
14.7 Epsilon Data Management, LLC
14.8 ICF International Inc.
14.9 Kobie Marketing, Inc.
14.10 TIBCO Software Inc.
14.11 MicroStrategy, Inc.
14.12 Apex Loyalty
14.13 Sailplay
14.14 The Lacek Group Inc.
14.15 Paystone Inc.
14.16 Capillary Technologies
14.17 Annex Cloud
14.18 Brierley Partners
14.19 Fidelity National Information Services, Inc.
14.20 Lumata Group
15. Appendix
15.1 Questionnaire
For more information about this report visit https://www.researchandmarkets.com/r/krb98z