Loyalty Management Market to Reach USD 7,612 Million in 2020

Loyalty Management Market

Loyalty Management Market

The Loyalty Management Market was estimated to be around USD 7,612 Million in 2020 and is expected to grow at a CAGR of 15.9% over the forecast period (2021-2028).

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Factors driving the growth of the loyalty management market include growing penetration of smartphones, rise in number of social media platforms, rapid growth in retail and e-commerce sectors and improving internet connectivity. According to the report published by Statista, the revenue generated by the e-commerce industry in India is estimated to be around USD 99.44 billion for 2022 and the market volume is expected to reach USD 165.40 billion by the end of 2025, with a CAGR of 18.48% over the forecast period (2022-2025), which will drive the growth of the market in the coming years. Additionally, the increasing adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML) and big data analytics, the move towards personalized loyalty programs, the growing trend of online shopping line and the growing focus on improving customer loyalty, are some of the additional factors. supplement market growth. Also, increasing investments by large companies in research and development, rising disposable incomes and growing population growth rates are further contributing to the growth of the market.

However, the growth of the loyalty management market is hampered due to strict regulations imposed by governments such as stamp laws and data security laws.

Major players operating in the market are Bond Brand Loyalty Inc., Capillary Technologies, Comarch SA, Kobie, Kognitiv Corporation, Annex cloud, FiveStars, Apex Loyalty, Apptivo, Inc., and Epsilon Data Management, LLC, among others.

Based on Solution, the B2C segment is expected to grow at a significant CAGR during the forecast period

Customer loyalty programs offer personalized coupons, vouchers, and rewards to customers, driving the growth of the segment.

Based on the industry vertical, the consumer goods and retail segment is expected to grow at a robust CAGR during the forecast period

Loyalty programs help businesses understand consumer buying habits, influence customer behavior and the rising trend of online shopping are some of the factors responsible for the growth of the segment.

Based on region, Asia Pacific region is expected to grow at a remarkable CAGR during the forecast period

Growing influence of social media platforms, expanding e-commerce industry, growing popularity of AI-based loyalty programs, rapid urbanization, rising per capita income and growth rates High demographics are some of the significant factors increasing the market growth in Asia. Pacific region.

Key development

In 2019, Kobie launched Kobie Alchemy X, the next-generation real-time loyalty platform within the Kobie Loyalty Cloud. Kobie Alchemy X includes a modern, marketer-friendly interface that will guide users through creating and delivering contextual and personalized customer interactions.

Market segmentation

Segmentation by solution

B2C
B2B

Segmentation by vertical industry

BFSI
Consumer goods and distribution
Health care
IT and Telecom
travel and hospitality
Manufacturing
Others

Segmentation by deployment

On the site
On demand

Segmentation by region

Asia Pacific
China
Japan
India
Rest of APAC

North America
the United States of America
Canada

Europe
UK
Germany
France
Spain
The rest of Europe

Line
Brazil
South Africa
Saudi Arabia
United Arab Emirates

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