According to a research report "Loyalty Management Market by Component (Solutions & Services), Organization Size, Deployment Type, Operator (B2B, B2C), Vertical (BFSI, Aviation, Automobile, Media & Entertainment, Retail & Consumer Goods, Hospitality) & Region - Global Forecast to 2028" published by MarketsandMarkets, the loyalty management market is estimated at USD 10.2 billion in 2023 and is projected to reach USD 22.8 billion by 2028, at a CAGR of 17.5% during the forecast period. The growing importance of customer retention and customer insights to predict customer intents is offering growth opportunities for the loyalty management market in the future.
Browse 508 market data Tables and 43 Figures spread through 332 Pages and in-depth TOC on "Loyalty Management Market by Component (Solutions & Services), Organization Size, Deployment Type, Operator (B2B, B2C), Vertical (BFSI, Aviation, Automobile, Media & Entertainment, Retail & Consumer Goods, Hospitality) & Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/loyalty-management-market-172873907.html
By organization size, large enterprises estimated to account for largest market share in 2023.
The adoption of loyalty management solutions in large enterprises is comparatively high for SMEs, and this trend is expected to continue during the forecast period. Loyalty management solutions are deployed by large enterprises to decrease customer attrition, boost customer re-purchase, and improve the overall customer retention rate, experience, and satisfaction. Also, as compared to SMEs, loyalty management solutions were adopted earlier by large enterprises, which became a driving factor in the growth of the market.
By component, services expected to register fastest growth rate during forecast period.
With the growing adoption of loyalty management solutions, their services ensure the proper implementation and integration of different solutions. Their services also assist end users in reducing overall costs, increasing overall revenues, and improving business performance, thus helping organizations to track, evaluate, and analyze the demands of their business to make appropriate decisions.
Asia Pacific likely to emerge as fastest-growing market during forecast period
APAC is expected to have the highest growth rate in the loyalty management market among all regions. Growing social media usage, increasing internet penetration, and expanding the eCommerce industry are major factors driving the adoption of loyalty programs in Southeast Asia. Vietnam and Thailand are the major driving nations, followed by Malaysia, the Philippines, Singapore, and Indonesia. The growth of SMEs in this region has led to an increase in their spending on advanced technologies, such as AI and data analytics, to compete in the loyalty management market and capture further opportunities.
The major vendors covered in the loyalty management market include Giift Management (Singapore), 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), Sumup (UK), Kangaroo (Canada), LoyaltyLion (England), Smile.io (Canada), Yotpo (US), SailPlay (US), Zinrelo (US), Punchh (US), Ebbo (US), Preferred Patron (US), Loopy Loyalty (China), Paystone (UK), and SessionM (US).
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441