Global Loyalty Management Market Worth USD 6823.01 million by 2023 | Leading Players: Oracle Corporation (The U.S.), SAP SE (Germany), Comarch (Poland), Brierley+Partners (The U.S.), ICF International, Inc. (The U.S.), TIBCO Software (The U.S.).

Global loyalty management market Overview:

Loyalty management is about designing rewards for consumers for past purchases and providing incentives for future purchases. The reward program aims to add value to customers, followed by better customer penetration, cross-selling and retention. A loyalty management system consists of operational parameters, which include financing options, program design and types of transactions. In addition, it also includes several value parameters such as reimbursement thresholds, repurchase options and purchase rates. Many organizations focus on loyalty programs because of their customer attractive offers. Offers include extending coverage to consumers' daily expenses, innovative rewards that lead to greater consumer response and retention, followed by collaboration opportunities for improved services. The main companies focus on the implementation of these tools to maintain high customer satisfaction by providing specialized loyalty programs that include special auctions, lotteries, coupons or benefits through a single platform. Shape. The global loyalty management market is expected to experience significant growth in the forecast period from 2017 to 2023.

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).

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Drivers and Restraints:
The global loyalty management market has been segmented according to the solution, the size of the organization, the type of deployment and the end-user industry. Based on the solution, the market is segmented into employee retention, customer loyalty and retention channels. By organizational size, the market has been segmented into small, medium and large companies. In terms of the type of implementation, the market is segmented according to demand and on the site. The segment of the end-user industry is divided into two categories: banking services, financial services and insurance, information technology and telecommunications, medical care, manufacturing and hospitality. The growing need for competitive differentiation to increase market share is one of the key factors that should drive demand in the global loyalty management market during the forecast period. The increase in the number of cardholders and the use of loyalty points in cash, followed by a significant increase in mobile technology, are other factors that are likely to increase the demand in the global fidelity market during the forecast period. However, strict government rules and regulations followed by a lack of knowledge of the benefits of loyalty programs limit the growth of the global fidelity management market during the forecast period. Increased investments in card loyalty technology, followed by an increase in the application of big data and machine learning, are opportunities for the market. In addition, the increasing sophistication of online rewards management solutions is also an opportunity factor in the growth of the global loyalty management market during the forecast period from 2017 to 2025.

Geographic Segmentation:
Geographically, the global loyalty management market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and Latin America. In 2016, North America occupied most of the loyalty management market due to the increasing concentration of the main industry sectors, including governments and BFSI in loyalty, participation and cross-selling programs. Europe has followed North America in the global loyalty management market due to the growing number of customers choosing a retail store. In addition, Latin America registered significant and rapid growth in the global loyalty market during the forecast period due to the increase in card transactions in countries such as Mexico and Brazil.

The major players operating in the global Loyalty Management market includes Oracle Corporation (The U.S.), SAP SE (Germany), Comarch (Poland), Brierley+Partners (The U.S.), ICF International, Inc. (The U.S.), TIBCO Software (The U.S.), Fidelity Information Services (FIS) (The U.S.), Lumata Group (U.K.), IBM Corporation (The U.S.), Aimia Inc. (Canada), Bond Brand Loyalty (Canada), Bond Brand Loyalty (Canada) and MicroStrategy, Inc. (The U.S.).

Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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