Loyalty Management Market Size 2022 with 21.13% CAGR : long-term calculated business plan by recognize shifting trends up to 2028

Posted on May 26 2022 4:38 AM

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Global “Loyalty Management Market” 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028

The global Loyalty Management market is expected to register a significant CAGR 21.13% during the forecast period 2022-2028. According to Market growth reports latest research Loyalty Management Industry Know-how optimization stages are solutions which deliver an organization the ability to know the requirement of every individual customer and suggestion the best possible experience for them across all touch points.

The global loyalty management market was valued at USD 2160.06 million in 2022, and is expected to reach a value of USD 6823.01 million by 2028, at a CAGR of 21.13% over the forecast period (2022 - 2028).
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.

Implementation Of A Customer-Centric Approach Across Businesses
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 first—beyond a simple customer focus—generates 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 To Witness Fastest Growth In The European Region

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. 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.

BFSI Sector to Hold a Lion’s Share of the Market

In a highly competitive, complex, and dynamic banking industry, slight differences in financial services and products can matter. This, together with an increasingly demanding customer base, has led to the transformation of the industry toward adopting loyalty management solutions. Reward points programs offered by credit cards are one of the most active zones in the reward and incentive space. Loyalty management has been the stronghold for the banking industry, as vendors look to attain a high customer retention rate. It has been proven that more than 35% of the consumers believe that reward points/cashback incentives, among others, are the major factors that play vital role in influencing consumer preference while choosing among the banks for credit cards. Loyalty programs can be further enhanced through digitization. Most of the customers like to earn points with family and friends, but presently, only around one-fifth of the banks provide this capability. Therefore, banks can focus on providing customers with the ability to send and receive reward points using their mobile banking apps, which may further enhance consumer interest.

The key players in this market include: Aimia Inc., IBM Corporation, Oracle Corporation, Comarch SA, SAP SE, Epsilon Data Management LLC, Fidelity Information Services Inc., TIBCO Software, Martiz Holdings Inc., and Kobie Marketing Inc.

Who are some of the Top Manufacture operating in the Loyalty Management market and how high is the competition 2022?

         ●      Aimia Inc.
         ●      IBM Corporation
         ●      Oracle Corporation
         ●      Comarch SA
         ●      SAP SE
         ●      Epsilon Data Management LLC
         ●      Fidelity Information Services Inc.
         ●      TIBCO Software
         ●      Martiz Holdings Inc.
         ●      Kobie Marketing Inc.

And More

{ Impressive Compound annual growth rate (CAGR) 21.13% With Multiple million USD } 

Get a Sample PDF of Loyalty Management Market 2022

Loyalty Management Market Research Report provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

The report covers the key players of the business including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin Sales with an exhaustive investigation of the market's competitive landscape and definite data on vendors and thorough subtleties of elements that will challenge the development of significant market vendors.

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Key questions answered in this report: -

         ●      What will the Loyalty Management market size be in 2028 and what will the growth rate be?
         ●      What are the key Loyalty Management market trends?
         ●      What is driving this market?
         ●      What are the challenges to market growth?
         ●      Who are the key vendors in this Loyalty Management market space?
         ●      What are the Loyalty Management market opportunities and threats faced by the key vendors?

Top countries data covered in this report:

         ●      North America (U.S., Canada, Mexico)
         ●      Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)
         ●      Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
         ●      Latin America (Brazil, Rest of L.A.)
         ●      Middle East and Africa (Turkey, GCC, Rest of Middle East)

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With tables and figures helping analyze Global Loyalty Management Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market

Detailed TOC of 2022- 2028 Loyalty Management Market Research Report - Regional Analysis, Top Players, Growth, Shares, Revenue

             ●      Introduction
    1.1 Study Deliverables
    1.2 General Study Assumptions
             ●      Research Methodology
    2.1 Introduction
    2.2 Analysis Methodology
    2.3 Study Phases
    2.4 Econometric Modelling
             ●      Executive Summary
             ●      Market Overview and Trends
    4.1 Introduction
    4.2 Market Trends
    4.3 Porter’s Five Force Framework
    4.3.1 Bargaining Power of Suppliers
    4.3.2 Bargaining Power of Consumers
    4.3.3 Threat of New Entrants
    4.3.4 Threat of Substitute Products and Services
    4.3.5 Competitive Rivalry within the Industry
             ●      Market Dynamics
    5.1 Drivers
    5.2 Restraints
    5.3 Opportunities
    5.3.1 Growing Demand
    5.3.2 Increasing Demand
             ●      Loyalty Management Market, Segmentation by Material Type
             ●      Loyalty Management Market, Segmentation by Type
             ●      Loyalty Management Market, Segmentation by Vehicle Type
             ●      Loyalty Management Market, Segmentation by Geography
    9.1 North America
    9.1.1 United States
    9.1.2 Canada
    9.1.3 Mexico
    9.1.4 Others
    9.2 South America
    9.2.1 Brazil
    9.2.2 Argentina
    9.2.3 Others
    9.3 Asia-Pacific
    9.3.1 China
    9.3.2 Japan
    9.3.3 India
    9.3.4 Others
    9.4 Europe
    9.4.1 United Kingdom
    9.4.2 Germany
    9.4.3 France
    9.4.4 Others
    9.5 Africa and Middle East
    9.5.1 UAE
    9.5.2 South Africa
    9.5.3 Saudi Arabia
    9.5.4 Others
             ●      Competitive Landscape
    10.1 Introduction
    10.2 Market Share Analysis
    10.3 Developments of Key Players
             ●      Key Vendor Analysis (Overview, Products & Services, Strategies)
             ●      Future Outlook of the Market
             ●      Disclaimer

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