Chicago, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The global Loyalty Management Market size is projected to grow from USD 8.6 billion in 2021 to USD 18.2 billion by 2026, at a compound annual growth rate (CAGR) of 16.3% during the forecast period. The major factors driving the growth of the Loyalty Management Market include the shift toward digital innovation in travel business, growing travel industry.
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290 - Tables
48 - Figures
245 – Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2016–2026 |
| Base year considered | 2020 |
| Forecast period | 2021–2026 |
| Forecast year market size | USD 45.2 Billion |
| Estimated year market size | USD 29.2 Billion |
| Segments covered | Component (Software, Service (Professional Services (Consulting, Implementation, Support & Maintenance), Managed Services)), Organization Size (SMEs, Large Enterprises), Deployment Mode (On-Premises, Cloud), Operator (B2B, B2C), Application (Web Mobile), Vertical (BFSI, Aviation Automotive, Media and Entertainment, Retail and Consumer Goods, Hospitality, and Others) and Region |
| Geographies covered | North America, Europe, APAC, Latin America, and MEA |
| Companies covered | Epsilon (US), Oracle (US) Bond Brand Loyalty (Canada), Kobie (Russia), Brierley+Partners (US), Merkle (US), Capillary (Singapore), Comarch (Poland), ICF Next (US), Maritz Motivation (US), Cheetah Digital (US), ProKarma (US), Jakala (Italy), Annex Cloud (US), Apex Loyalty (US), Fivestars (US), Kangaroo (Canada), LoyaltyLion (England), Smile.io (Canada), Yotpo (US), SailPlay (US), Zinrelo (US), Punchh (US), ClarusCommerce (US), Preferred Patron Loyalty(US), LoopyLoyalty (US), Paystone (UK), and SessionM (US). |
Based on Organization size, the large enterprises segment is expected to have the highest growth rate during the forecast period
The large enterprises segments are gaining popularity in the Loyalty Management Market as they need a management system that can cater their large customer data. Large enterprises prefer cloud deployment for loyalty management needs to gain scalability and flexibility. Large banks and financial service providers fall under large enterprises and continuously reform their rewards system. Digitization in business and customer service has helped increase the customer acquisition and retention. The need to increase customer convenience and effortlessness will drive the market.
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Based on Deployment mode, the cloud segment is expected to hold the highest market size during the forecast period
In the Loyalty Management Market, the cloud segment is expected to hold the highest market share during the forecast period as the cloud model supports anywhere and anytime seamless user access. The cloud-based loyalty management platforms allow businesses to effectively manage and process brand data in real-time for accurate information. An increase in collaborative reward approach adoption has enabled these platforms to fulfill the growing transactions and data. The online support system helps the customer to make quicker issue resolution.
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APAC is expected to grow at a higher CAGR during the forecast period
The Asia Pacific is expected to hold the highest CAGR in the Loyalty Management Market during the forecast period. This market in the region is expected to grow continuously at a strong rate over the coming years due to its customer retention and increasing necessity to understand consumer behavior. The growing popularity of reward system for customer engagement, online reviews, and low-effort customer support has led to the emergence of new loyalty and customer engagement service providers in the region. The digital trends, increasing transactions and AI-driven data insights across the region will drive the Loyalty Management Market in the region.
Top Key Players
In the Loyalty Management Market, the key and emerging market players include Epsilon (US), Oracle (US) Bond Brand Loyalty (Canada), Kobie (Russia), Brierley+Partners (US), Merkle (US), Capillary (Singapore), Comarch (Poland), ICF Next (US), Maritz Motivation (US), Cheetah Digital (US), ProKarma (US), Jakala (Italy), Annex Cloud (US), Apex Loyalty (US), Fivestars (US), Kangaroo (Canada), LoyaltyLion (England), Smile.io (Canada), Yotpo (US), SailPlay (US), Zinrelo (US), Punchh (US), ClarusCommerce (US), Preferred Patron Loyalty (US), LoopyLoyalty (US), Paystone (UK), and SessionM (US).
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