Growing usage of mobile phones, substantial growth in the number of cardholders, along with an increasing encouragement for online reward management solutions drives the demand for loyalty management market
Dallas, Texas, Oct. 05, 2020 (GLOBE NEWSWIRE) -- The “Loyalty Management Market by Component (Software, Services), Organization Size (Small & Medium, Large), Operator (B2B, B2C), Application (Aviation, BFSI, Automotive, Retail & Consumer Goods, Media And Entertainment, Hospitality, Others), And by Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) Global Forecast 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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Loyalty management market combines planned and effective activities to choose, manage, relate, and govern the customer buying behavior. This process helps to retain a customer by providing rewards on repeated purchases. Such loyal consumers share their experiences within their connections with cloud-based, advocacy-driven, and mobile-delivered programs. The global loyalty management market size is projected to reach USD 26 billion by 2028
The growth in the rivalry in almost every industry vertical has motivated businesses to adopt the customer-centric method. To acquire a new client base without losing the prevailing customers has enforced enterprises to invest in loyalty management solutions. Includes a combination of rewards, lotteries, coupons, or auctions. With the surge of e-commerce platform, the overall loyalty management industry is anticipated to grow at a significant growth rate over the forecast period.
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The global loyalty management market contains both software and service segment. The software segment possesses a significant market share within the global loyalty management solution market in 2019. It helps organizations to boost their sales by maintaining a loyal customer base by creating an Omni channel platform to promote the customer to utilize and earn reward points across several channels such as applications, websites, or in-store. However, the services segment is anticipated to grow at a significant growth rate from 2020 to 2028.
The global loyalty management market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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The global loyalty management market is a wide range to North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America is considered a mature market in loyalty management applications, owing to the outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The United States and Canada are the highest contributory countries to the expansion of the loyalty management market in North America.
The major players of the global loyalty management market areAimia, Apex Loyalty, Annex cloud, Apptivo, Brierley+Partners, Capillary, Bond Brand Loyalty, Comarch, FiveStars, Hashtag Loyalty, Epsilon, ICF Next, Kobie Marketing, Kangaroo, and more. The loyalty management market is fragmented with the existence of well-known global and domestic players across the globe.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Loyalty Management Market by Component
Chapter 6 Loyalty Management Market by Organization Size
Chapter 7 Loyalty Management Market by Operator
Chapter 8 Loyalty Management Market by Application
Chapter 9 Loyalty Management Market by Region
Chapter 10 Competitive Landscape
Chapter 11 Company Profiles
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Loyalty Management Market to reach US $26 billion by 2028 - Global Insights on Size, Key Trends, Strategic Initiatives, COVID-19 Impact Analysis, Growth Drivers, and Business Opportunities: Adroit Market Research - Yahoo Finance
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