According to the latest report by IMARC Group, titled “Loyalty Management Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027,” The global loyalty management market size reached US$ 2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2027, exhibiting a growth rate (CAGR) of 21.47% during 2022-2027.
A loyalty management system is marketing automation software used to launch, manage and analyze the performance of loyalty programs. It assists in improving customer engagement, generating brand awareness, enhancing the customer experience, and providing points, discounts, coupons, cash back, and revenues.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Loyalty management is employed in the e-commerce industry to optimize the user experience and predict customer behavior for targeted advertising. This, in confluence with the increasing preference for online shopping through smartphones, represents one of the major factors augmenting the market growth. In addition, the rising utilization of loyalty management in the banking, financial service and insurance (BFSI) industry to send automated emails and short message service (SMS) to enhance the experience of the user is contributing to the market growth. Apart from this, the integration of artificial intelligence (AI), machine learning (ML), chatbots, and cloud-based solutions are offering lucrative growth opportunities to industry players.
Breakup by Type:
Customer Retention
Customer Loyalty
Channel Loyalty
Breakup by Organization Size:
Large Enterprises
Small and Medium Enterprises
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Industry Vertical:
BFSI
Retail
Travel and Hospitality
Manufacturing
IT and Telecom
Media and Entertainment
Healthcare
Others
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Annex Cloud
Bond Brand Loyalty Inc
Comarch SA
Epsilon Data Management LLC
Fidelity Information Services Inc
ICF International Inc
Kobie Marketing Inc
LoyaltyLion
Oracle Corporation
Paystone Inc
SAP SE
TIBCO Software Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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