Increasing focus on customer centric approach leads to offer multiple loyalty programs for customer retention, cross selling and to increase the customer penetration. Loyalty management is an important part of business that helps to elevate the company to a higher level. It enables enterprises to enhance customer loyalty and ultimately it leads to increase in sells and revenue. Under loyalty management enterprises offers various loyalty programs such as reward points, discounts, special product offers and gift vouchers across banking, grocery shopping, dining, and fuel purchasing. These enterprises face challenges to manage all the loyalty programs based on standard rules across different location to provide similar services for all customers. Therefore, software solution providers offer loyalty management software to manage all these programs with less amount of human intervention.
MARKET SCOPE
The "Global Loyalty Management Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the loyalty management market with detailed market segmentation by component, enterprise size, deployment mode, industry vertical, and geography. The report provides key statistics on the market status of the leading loyalty management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on component, the global loyalty management market is segmented into solution, services
? On the basis of enterprise size, the market is segmented into large enterprises, SMES
? Based on deployment mode, the market is bifurcated into cloud, on-premises
? Based on industry vertical, the market is bifurcated into automotive, BFSI, aviation, hospitality, retail and consumer goods, media and entertainment, others
MARKET DYNAMICS
Drivers:
? Need to decrease customer churn rates
? Demand for advanced solutions to monitor customer scores and enhance customer engagement
? Rising adoption of omnichannel customer loyalty strategy
? Growing adoption of advanced technologies, such as artificial intelligence and machine learning.
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 loyalty management 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 marketduring 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 loyalty management market in these regions.
IMPACT OF COVID-19 ON LOYALTY MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the loyalty management market as 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 marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from loyalty management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the loyalty management 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.
? Aimia Inc.
? Antavo Limited
? Bond Brand Loyalty Inc.
? Capillary Technologies
? Comarch SA
? Epsilon Data Management, LLC
? ICF International Inc.
? Maritz Holdings Inc.
? Oracle Corporation
? TIBCO Software Inc.
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.