Press release
Loyalty Management Market Outlook: Market Size, Growth Rate, Drivers, and Trends to 2029
Loyalty Management Market Size
What Is The Projected Market Size Of The Global Loyalty Management Market And Its Growth Rate?
The global Loyalty Management market is poised for unprecedented expansion:
• Market Size in 2024: $10.94 billion
• Market Size in 2025: $12.6 billion with a CAGR of 15.2%
• Anticipated Market Size in 2029: $24.12 billion with a projected CAGR of 17.6%
Factors such as customer retention efforts, card-based loyalty schemes, competitive advantages, data-driven decision-making, and the rise in E-commerce have greatly contributed to this remarkable growth trajectory.
What Is Driving The Growth In The Loyalty Management Market?
The surge in the number of cardholders and the widespread usage of reward points are primarily driving the growth of the Loyalty Management market. Businesses are increasingly deploying customer loyalty cards to generate repeat business and gain insights into consumer purchasing habits. With better incentives, businesses have noticed that customers are willing to switch brands. According to a customer loyalty survey in 2022, 61% of customers shifted from a brand they use regularly to one that offered better incentives.
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Who Are the Key Players Driving Loyalty Management Market Growth?
The following industry leaders are driving the Loyalty Management market growth:
• Kobie Marketing Inc.
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Salesforce.com Inc.
• Fidelity National Information Services Inc.
• ICF International Inc.
• TIBCO Software Inc.
• Maritz Holdings Inc.
• Comarch SA
• AIMIA Inc.
• Blue Ocean Systems
• VeriPark
• The Lacek Group Inc.
• Annex Cloud
• Capillary Technologies
• Kognitiv Corporation
• Antavo Limited
• Paystone Inc.
• Apex Loyalty
• Bond Brand Loyalty Inc.
• Brierley Partners
• FiveStars Loyalty Inc.
• Lumata Group
• Sailplay
• Epsilon Data Management LLC
What Are The Key Trends In The Loyalty Management Market?
Key trends in the forecast period include:
• Personalisation and AI
• Blockchain for loyalty programs
• Subscription-based models
• Digital wallet integration
• Cross-industry collaboration
• Voice and conversational interfaces
What Are The Segments Of The Global Loyalty Management Market?
The global Loyalty Management market is segmented as follows:
1) By Component: Software, Services
2) By Deployment: Cloud, On-Premises
3) By Organization Type: Small & Medium-Sized Enterprises, Large Enterprises
4) By End Use: BFSI, IT, Telecommunication, Transportation, Retail, Hospitality, Media And Entertainment, Other End-Users
Which Region Leads The Loyalty Management Market?
As per the 2024 data, North America was the largest region in the Loyalty Management Market. However, during the forecast period, Asia-Pacific is expected to witness the fastest growth. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Loyalty Management Market Global Market Report?
• Market Size Analysis: Analyze the Loyalty Management Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Loyalty Management Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Loyalty Management Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Loyalty Management Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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