Loyalty Management Market will Grow at 21.13% CAGR During 2018 – 2023 | Worldwide Key Players – Aimia, IBM, Oracle, Comarch SA, SAP SE, Epsilon Data Management, TIBCO

Marketprognosis.com Publish a New Market Research Report On “Global Loyalty Management Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Loyalty Management Market:

The Global Loyalty Management Market was valued at USD 2160.06 Million in 2017, and is expected to reach a value of USD 6823.01 Million by 2023, at a CAGR of 21.13% over the forecast period (2018 - 2023).

Loyalty management is adopted by key companies across various industry verticals, whose primary focus is on client retention and further building of sustainable customer relationships. Moreover, high cost of customer acquisition is forcing companies to develop their own business model, focusing on client retention. The market has been driven by the need for a customer centric strategies as well the increasing number of card holders across the globe. However, the lack of awareness about loyalty programs is expected to hinder the growth of the loyalty management market.

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In a shift from product-centric strategies, businesses across major industry verticals are gradually shifting toward customer-centric approaches. It has been observed that, regardless of time, creating customer value and putting customers firstu2014beyond a simple customer focusu2014generates the greatest and lasting business value. As loyalty management revolves around pleasing/rewarding an organization’s repeat customers, developing customer-centric strategies has become necessary to keep the customer retention rate high, thus driving the demand for loyalty management programs.

One of the examples of customer-centric companies is Amazon, which has 310 million active user accounts, as of 2016. They identify the customers who shop the most from their huge client base. These customers are rewarded as a part of the loyalty program in the form of gift cards and discount on several products.

France has the lowest card penetration in Western Europe, with less than one payment card per person in circulation. However, the emergence of new channels, such as NFC payments, are expected to aid the market for loyalty management. Recently, retailers in the country have launched a pair of pilots with an NFC option, one for loyalty and the other to identify customers when customers pick up purchases after shopping online from home. Also, being the third most popular destination for cross-border online shopping and holiday destination among the European countries, topped only by the United Kingdom and Germany, merchants in this region are adopting loyalty management services to attract more tourists.

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According to the association, Francaise du Sans Contact Mobile, approximately one million NFC-enabled handsets have been sold, and the figure was estimated at 2.5 million handsets in 2016. Major companies in this region are offering rewards or loyalty points to customers to increase the usage of NFC payments. In 2016, France’s e-Commerce market reached USD 42 billion and is projected to surpass USD 56.45 billion by 2020. The amount of digital buyers in the country is growing steadily, with over 30 million providing opportunities for the market players.

Major Key Players:

1 Aimia Inc.

2 IBM Corporation

3 Oracle Corporation

4 Comarch SA

5 SAP SE

6 Epsilon Data Management LLC

7 Fidelity Information Services Inc.

8 TIBCO Software and More……………….

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This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What are the challenges to market growth?

4 Who are the key players in this market?

5 What are the market opportunities and threats faced by the key players?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Loyalty Management Market.

Table of Contents:

1 Introduction

2 Research Scope & Methodology

3 Market Analysis

4 Market Dynamics

5 Technology Snapshot

6 Segmentation - By Type of Solution

7 Segmentation By Industry Vertical

8 Segmentation - By Deployment

9 Segmentation - By User-handling Capacity

10 Segmentation - By Geography

11 Vendor Market Share Analysis

12 Competitive Intelligence - Key Vendor Profiles

13 Investment Analysis

14 Future of the Market

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This release was published on openPR.