Customer retention software is generally offered by companies or retailers to customers that have a frequent purchase history as loyalty is an important factor for a successful business. Customer loyalty programs often provide coupons, merchandise and rewards in order to maintain relationships with these customers. Customer loyalty programs often focus on creating alliances in order to reduce the cost of the program. These alliances include retailers, potential investors, research institutes and eCommerce companies.
MARKET SCOPE
The "Global customer retention software market Analysis to 2028" is a specialized and in-depth study of the customer retention software market with a special focus on the global market trend analysis. The report aims to provide an overview of the customer retention software market with detailed market segmentation by component, enterprise size, end-user, and geography. The global customer retention software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading customer retention software market players and offers key trends and opportunities in the customer retention software market.
MARKET SEGMENTATION
- The global customer retention software market is segmented on the basis of component, and enterprise size, and end-user.
- On the basis of component, the market is segmented as solution, services.
- On the basis of enterprise size, the market is segmented as SMEs, and Large enterprise.
- On the basis of end user the market is segmented into BFSI, retail, manufacturing, healthcare, others.
MARKET DYNAMICS
Drivers:
- Emergence of loyalty management mobile applications.
Restraints:
- Stringent government regulations..
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The customer retention software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the customer retention software market in these regions.
IMPACT OF COVID-19 ON customer retention software MARKET
The rapid spread of the Covid-19 pandemic has triggered a massive financial crisis and created a health crisis across the globe. The ongoing pandemic also had a significant impact on overall international trade and businesses. The outbreak of COVID-19 has slowed down the growth of the customer retention software market owing to challenges in maintaining operational continuity, securing network data, and adapting to new traffic patterns. Organizations have actively focused on understanding the function of automation in digital transformation due to the pandemic. Moreover, enterprises also learn to measure the Return on Investment (ROI) as compared to other competing initiatives. These factors are expected to have a significant effect on the market over the coming years.
MARKET PLAYERS
The report covers key developments in the customer retention software market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from customer retention softwaremarket are anticipated to lucrative growth opportunities in the future with the rising demand for the customer retention software market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the customer retention software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Epsilon
- Oracle
- Bond Brand Loyalty
- Kobie
- Brierley+Partners
- Merkle
- Capillary
- Comarch
- ICF Next
- Maritz Motivation