Loyalty Management Market Size to Reach US$ 9.1 Billion, Globally, by 2027 at 21.47% CAGR

PRESS RELEASE

Published March 24, 2023

IMARC Group has recently released a new research study titled “Loyalty Management Market: Global Industry Trends, Share, 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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Loyalty management is an innovative data-driven tool that helps businesses acquire, engage, and retain customers. It is designed to promote repeat business, providing individuals rewards for store loyalty. It is integrated with the campaign management system that automates the sending of emails and short message services (SMS). In addition to this, it increases brand awareness, improves the customer experience, and offers relevant benefits, such as miles, discounts, revenue, points, coupons, or cash back. Since it is highly reliable, convenient, and easy to use and enables the management, collection, and use of customer data, loyalty management is gaining immense popularity among businesses across the globe.

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Loyalty Management Market Trends and Drivers:

The market is primarily driven by the expanding e-commerce and retail sector. In addition, the growing shift toward a customer-centric approach by business organizations and the increasing penetration of improved internet services, leading to easy access to the internet through smartphones, tablets, and laptops are contributing to market growth. Moreover, various technological advancements, such as the introduction of machine learning (ML), artificial intelligence (AI), and big data in loyalty management programs to analyze large amounts of data from survey forms, wearable devices, smartphones, and cookies while assessing consumer perception and making effective loyalty programs, represent other major growth-inducing factors. Besides this, the widespread adoption of loyalty management in the hospitality, information and technology (IT), transportation, media and entertainment, manufacturing, retail, and banking, financial services, and insurance (BFSI) industries for client retention and sustainable customer relationships is creating a positive market outlook.

Report Segmentation:

The report has segmented the market into the following categories:

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

Market 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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