EMR’s new report entitled “Global Loyalty Management Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global loyalty management market, assessing the market based on its segments such as delivery type, organization size, end use, and main regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): 7.6 billion USD
- Forecast CAGR (2021-2026): 12%
- Projected market size (2026): 15 billion USD
The growth of e-Trade businesses, along with the increase in online shopping and consumer usage of mobile devices and smartphones, are driving the industry forward.
Industry definition and major segments
Loyalty management involves creating rewards for consumers’ past purchases as well as giving incentives for future purchases. The rewards program aims to deliver significant value to customers while increasing customer penetration, cross-selling and retention. A loyalty management system includes operational aspects such as referral options, program design, and transaction types. Different value criteria are involved, such as redemption thresholds, redemption options, and winning prizes.
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Loyalty management can be segmented according to:
type of delivery
- Standalone program
- Managed Platform
End use
- BFSI
- Automotive
- Aviation
- Retail and customer goods
- Media and entertainment
- Hospitality
- Others
Organization size
- large organization
- Small organization
- Medium-sized organization
Regional loyalty management markets include
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market trends
The increased need for loyalty services in the retail, financial services and hospitality industries is propelling the global loyalty management market. Growing demand for digital rewards programs, analytics, and business intelligence is propelling the industry forward. Due to an increased focus on customer loyalty programs, strong employee engagement, and cross-selling by important verticals, such as government and BFSI, North America holds the highest stake in the company, followed by Europe. Due to increased card sales and customer investment in many vouchers and benefit choices in Mexico and Brazil, Latin America is likely to be an important and fastest growing market.
Main market players
The major market players are Comarch SA, International Business Machines Corporation, Oracle Corporation, Aimia, SAP ERP, Bond Brand Loyalty, TIBCO Software Inc. and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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