Global $18.17 Bn Loyalty Management Market to 2026: Significant Growth Owing to the Intensified Competition - PRNewswire

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DUBLIN, Aug. 19, 2021 /PRNewswire/ -- The "Global Loyalty Management Market (2021-2026) by Solution, Verticals, Organization Type, Deployment, Type of Offering Capacity, Application, Geography and the Impact of COVID-19 with Ansoff Analysis, Infogence Competitive Quadrant" report has been added to ResearchAndMarkets.com's offering.

The Global Loyalty Management Market is estimated to be USD 8 Bn in 2021 and is expected to reach USD 18.17 Bn by 2026, growing at a CAGR of 17.8%.

The Global Loyalty Management Market is witnessing significant growth, owing to the intensified competition, increasing customer acquisition cost, implementing a customer-centric approach across business, and rewarding schemes offered by organizations.

Stringent government rules and regulations affect the growth of the Global Loyalty Management Market. Government regional laws such as trading stamp laws, gift certificate laws, privacy laws, and data security may restrict the adoption of loyalty programs. The lack of awareness of the rewards of the loyalty programs challenges market growth.

But, the growing investments in card loyalty systems and the rapid adoption of advanced technologies help increase the application of big data and machine learning that helps to provide opportunities for the Loyalty Management Market in the future.

Loyalty Management enables enterprises to enhance customer loyalty and increase their sales and revenue. Enterprises offer various loyalty programs such as reward points, discounts, offers, and gift vouchers across banking, grocery shopping, dining, etc., under loyalty management. Companies also arrange rewards to the customers on purchase. These rewards are designed for the customers based on their past purchases to influence them to make more purchases in the future.

B2C companies are exceedingly adopting loyalty management solutions as these companies are trying to provide the real-life benefits of customer experience management for their reputation. The increasing demand for android phones in B2C loyalty programs is also forcing vendors to develop more updated smartphones oriented programs.

Seasonal discounts and offers along with free shipping, are also the major drivers for choosing loyalty programs, especially for the retailers. Hence, this creates a huge demand for loyalty management software during the festive seasons or special days.

Market Dynamics

Drivers

Rising Trend of Loyalty Programs
Technological Advancement in Mobile Technology and Applications
The Rise in the Number of Cardholders and the Use of Reward Points
Growing Customer Preference for Personalization to Push Loyalty Program Adoption

Restraints

Inconsistent Customer Experience Feedback
Stringent Government Regulations
Lack of Awareness of the Benefits of Loyalty Programs

Opportunities

Increased Investments in Loyalty System Technology
Rising Application of Big Data and Machine Learning
The Growing Importance of Customer Insights to Predict the Customer Intents

Key Topics Covered:

1. Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders

2. Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study

3. Executive Summary

4. Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.3 Trends

5. Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
5.4 SWOT Analysis

6. Global Loyalty Management Market, By Solution
6.1 Introduction
6.2 B2C
6.3 B2B
6.4 Corporate

7. Global Loyalty Management Market, By Vertical
7.1 Introduction
7.2 Banking and Financial Institutions
7.3 Hospitality
7.4 Retail & Consumer Goods
7.5 IT & Telecommunication
7.6 Media & Entertainment
7.7 Healthcare
7.8 Manufacturing

8. Global Loyalty Management Market, By Organization Type
8.1 Introduction
8.2 Small & Medium-Sized Enterprises
8.3 Large Enterprises

9. Global Loyalty Management Market, By Deployment
9.1 Introduction
9.2 Cloud
9.3 On-Premises

10. Global Loyalty Management Market, By Type of Offering Capacity
10.1 Introduction
10.2 Loyalty Marketing
10.3 Loyalty Strategy Design
10.4 Loyalty Management
10.5 Analytics and Measurement
10.6 Technology Platform Capabilities
10.7 Service Delivery Capabilities

11. Global Loyalty Management Market, By Application
11.1 Introduction
11.2 Web
11.3 Mobile

12. Global Loyalty Management Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 South America
12.3.1 Brazil
12.3.2 Argentina
12.4 Europe
12.4.1 UK
12.4.2 France
12.4.3 Germany
12.4.4 Italy
12.4.5 Rest of Europe
12.5 Asia-Pacific
12.5.1 China
12.5.2 Japan
12.5.3 India
12.5.4 Australia
12.5.5 Rest of APAC
12.6 Middle East and Africa