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Loyalty Management Market by Type (Customer Retention, Customer Loyalty, and Channel Loyalty), Organization Size (Large and Small & Mid-size), and Industry Vertical (BFSI, Retail, Travel & Hospitality, Manufacturing, IT & Telecom, Media & Entertainment, Healthcare, and Others) - Global Opportunity Analysis and Industry Forecast, 2016-2023

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IC_172666
Pages: 140
Aug 2017 | 2233 Views
 
Author's : Kalyani Sonawane
Tables: 37
Charts: 87
 

Loyalty Management Market Overview:

Loyalty Management Market incorporates effective and planned activities to select, manage, relate, and control customers buying behavior. This method is used to retain a customer by offering rewards on frequent purchases. Such loyal customers share their experiences with their known contacts with advocacy-driven, cloud-based, and mobile-delivered programs. This enables brand promotion and attracts a new audience for the organization. It helps to gather more data and insights to create a more refined customer profile. Loyalty management has become an important part of vendor strategy due to its impact on brand value and the ability of loyalty management programs to retain, as well as attract potential customers.

The global loyalty management market is segmented based on type, organization size, industry vertical, and geography. As per type, the market is segmented into customer retention, customer loyalty, and channel loyalty. Based on organization size, the market is bifurcated into large and small & mid-size. Industry verticals analyzed in the report include BFSI, retail, travel & hospitality, manufacturing, IT & telecom, media & entertainment, healthcare, and others (Education, oil & gas, energy & utilities). Based on geography, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The Global Loyalty Management Market Segmentation

THE GLOBAL LOYALTY MANAGEMENT MARKET SEGMENTATION

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The global loyalty management market was valued at $1,931 million in 2016, and is expected to reach $6,955 million by 2023, growing at a CAGR of 20.8% from 2017 to 2023. The major factors that drive the market growth are rising usage of mobile phones, a significant increase in a number of card holders, lack of awareness about loyalty programs among consumers, and growing appreciation for online reward management solutions. Other factors that influence the market growth include recurrent alteration of end-user demographics, increase in spending on loyalty programs from the organizations, stringent government rules & regulations and rapidly growing applications of big data and machine learning.

The North America loyalty management market generated the highest revenue in 2016, attributed to adequate technology infrastructure, the presence of a large number of enterprises, and a large number of loyalty programs in the region. The Asia-Pacific loyalty management market is expected to grow at the highest CAGR, owing to the high penetration of internet; changing consumer demographics; and surge in need of better data management.

The key players operating in the global loyalty management industry include Oracle Corporation, IBM Corporation, SAP SE, Aimia Inc., Comarch, Bond Brand Loyalty, Tibco Software, Epsilon, ICF International, Inc., and Kobie Marketing, Inc. These players have expanded their market presence by adopting various business strategies such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.

Top Investment Pockets

The following graph signifies the growth potential of the global loyalty management market by vertical. It is observed that the market is driven by the BFSI vertical, which occupied the largest market share in 2016. The major factors that drive growth in these segments include growing usage of smartphones, consistent improvements in loyalty management system technology, and growing number of card holders.

LOYALTY MANAGEMENT MARKET TOP INVESTMENT POCKETS

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Rising Use of Mobile Applications

Brands are considering mobile applications to create and grow customer loyalty. Schemes or offerings are being launched for various brands exclusively on their mobile applications. For instance, upmarket retailer Harvey Nichols launched a loyalty scheme exclusively as a mobile app in May 2015, which indicates increasing influence of digital and mobile channels as compared to traditional cards.

Recurrent Alteration of End-user Demographics

The changing end-user demographics have influenced loyalty management market vigorously. Consumers are shifting their priorities from desire for possession to the desire for a worthy experience, i.e. value for money. This changing shift of expectations has urged loyalty marketers to develop innovative loyalty programs by utilizing numerous marketing practices.

Increase in Spending On Loyalty Programs

Organizations are investing in their customer loyalty management programs more than ever before. Customer loyalty management programs are currently expensive, complex, and expansive businesses. For instance, in 2015, companies in U.S. spent around $2 billion on loyalty programs. This spending was mostly done to achieve program growth and revenue production metrics.

Rapidly Growing Applications of Big Data And Machine Learning

Big data analytics help loyalty management systems to automate customer experience programs. Latest analytics software programs are tuned with the companys customer interactions and to social media sites where the data is anticipated to be tracked & analyzed. Abundant unstructured customer data is collected from mobile devices, wearable devices, the Internet, and social media. This data, if upgraded optimally, is expected to benefit organizations for better strategic plans for their offerings, as per the changing dynamics of the target audience.

Key Benefits

  • In-depth analysis of the global loyalty management market and dynamics is provided to understand the market scenario.
  • Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
  • Porters Five Forces analysis examines the competitive structure of the loyalty management market and provides a clear understanding of the factors that influence the market entry and expansion.
  • A detailed analysis of the geographical segments enables identification of profitable segments for market players in the global loyalty management industry.
  • Comprehensive analyses of the trends, sub-segments, and key revenue pockets are provided.
  • Detailed analyses of the key players operating in the global loyalty management industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.

Loyalty Management Market Key Segments:

By Type

  • Customer Retention
  • Customer Loyalty
  • Channel Loyalty

By Organization Size

  • Large
  • Small & Mid-size

By Industry Vertical

  • BFSI
  • Retail
  • Travel & Hospitality
  • Manufacturing
  • IT & Telecom
  • Media & Entertainment
  • Healthcare
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

The Key Players Profiled in the Report are as Follows:

  • Oracle Corporation
  • IBM Corporation
  • SAP SE
  • Aimia Inc.
  • Comarch
  • Bond Brand Loyalty
  • Tibco Software
  • Epsilon
  • ICF International, Inc.
  • Kobie Marketing, Inc.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
1.4.4. Market segmentation

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors

3.3. PORTERS FIVE FORCES

3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Degree of competition
3.3.4. Threat of new entrants
3.3.5. Threat of substitute

3.4. MARKET PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rising use of mobile applications
3.5.1.2. Recurrent alteration of end-user demographics
3.5.1.3. Changes in organizational structure
3.5.1.4. Significant increase in card holders
3.5.1.5. Increase in spending on loyalty programs

3.5.2. Restraints

3.5.2.1. Lack of awareness about loyalty programs
3.5.2.2. Strict government regulations

3.5.3. Opportunities

3.5.3.1. Rapidly growing applications of Big data and machine learning
3.5.3.2. Increase in investment for card loyalty management system technology

Chapter: 4 GLOBAL LOYALTY MANAGEMENT MARKET, BY TYPE

4.1. OVERVIEW
4.2. CUSTOMER RETENTION

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. CUSTOMER LOYALTY

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. CHANNEL LOYALTY

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

Chapter: 5 GLOBAL LOYALTY MANAGEMENT MARKET, BY ORGANIZATION SIZE

5.1. OVERVIEW
5.2. LARGE ORGANIZATIONS

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. SMALL & MID-SIZE ORGANIZATIONS

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

Chapter: 6 GLOBAL LOYALTY MANAGEMENT MARKET, BY INDUSTRY VERTICAL

6.1. OVERVIEW
6.2. BANKING, FINANCIAL SERVICES, AND INSURANCE

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.3. RETAIL

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

6.4. TRAVEL & HOSPITALITY

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast

6.5. MANUFACTURING

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast

6.6. IT & TELECOM

6.6.1. Key market trends
6.6.2. Key growth factors and opportunities
6.6.3. Market size and forecast

6.7. MEDIA & ENETRTAINMENT

6.7.1. Key market trends
6.7.2. Key growth factors and opportunities
6.7.3. Market size and forecast

6.8. HEALTHCARE

6.8.1. Key market trends
6.8.2. Key growth factors and opportunities
6.8.3. Market size and forecast

6.9. OTHERS (EDUCATION, OIL & GAS, ENERGY & UTILITIES)

6.9.1. Key market trends
6.9.2. Key growth factors and opportunities
6.9.3. Market size and forecast

Chapter: 7 LOYALTY MANAGEMENT MARKET, BY GEOGRAPHY

7.1. OVERVIEW
7.2. NORTH AMERICA

7.2.1. Key trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast, by type
7.2.4. Market size and forecast, by organization size
7.2.5. Market size and forecast, by industry vertical
7.2.6. Market size and forecast, by country
7.2.7. U.S.

7.2.7.1. Market size and forecast

7.2.8. Canada

7.2.8.1. Market size and forecast

7.2.9. Mexico

7.2.9.1. Market size and forecast

7.3. EUROPE

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast, by type
7.3.4. Market size and forecast, by organization size
7.3.5. Market size and forecast, by industry vertical
7.3.6. Market size and forecast, by country
7.3.7. UK

7.3.7.1. Market size and forecast

7.3.8. Germany

7.3.8.1. Market size and forecast

7.3.9. France

7.3.9.1. Market size and forecast

7.3.10. Italy

7.3.10.1. Market size and forecast

7.3.11. Rest of Europe

7.3.11.1. Market size and forecast

7.4. ASIA-PACIFIC

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast, by type
7.4.4. Market size and forecast, by organization size
7.4.5. Market size and forecast, by industry vertical
7.4.6. Market size and forecast, by country
7.4.7. China

7.4.7.1. Market size and forecast

7.4.8. India

7.4.8.1. Market size and forecast

7.4.9. Japan

7.4.9.1. Market size and forecast

7.4.10. Australia

7.4.10.1. Market size and forecast

7.4.11. Rest of Asia-Pacific

7.4.11.1. Market size and forecast

7.5. LAMEA

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast, by type
7.5.4. Market size and forecast, by organization size
7.5.5. Market size and forecast, by industry vertical
7.5.6. Market size and forecast, by country
7.5.7. Latin America

7.5.7.1. Market size and forecast

7.5.8. Middle East

7.5.8.1. Market size and forecast

7.5.9. Africa

7.5.9.1. Market size and forecast

Chapter: 8 COMPANY PROFILES

8.1. AIMIA INC.

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Business performance
8.1.4. Key strategic moves & developments

8.2. BOND BRAND LOYALTY

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Business performance
8.2.4. Key strategic moves & developments

8.3. COMARCH

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Business performance
8.3.4. Key strategic moves & developments

8.4. EPSILON

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Business performance
8.4.4. Key strategic moves & developments

8.5. ICF INTERNATIONAL, INC.

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Business performance
8.5.4. Key strategic moves & developments

8.6. IBM CORPORATION

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Business performance
8.6.4. Key strategic moves & developments

8.7. KOBIE MARKETING, INC.

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Business performance
8.7.4. Key strategic moves & developments

8.8. ORACLE CORPORATION

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Business performance
8.8.4. Key strategic moves & developments

8.9. SAP SE

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Business performance
8.9.4. Key strategic moves & developments

8.10. TIBCO (THE INFORMATION BUS COMPANY) SOFTWARE INC.

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Business performance
8.10.4. Key strategic moves & developments

LIST OF TABLES

TABLE 1. GLOBAL LOYALTY MANAGEMENT MARKET BY DEPLOYMENT MODEL, 2016-2023 ($MILLION)
TABLE 2. GLOBAL LOYALTY MANAGEMENT MARKET FOR CUSTOMER RETENTION BY REGION, 2016-2023 ($MILLION)
TABLE 3. GLOBAL LOYALTY MANAGEMENT MARKET FOR CUSTOMER LOYALTY BY REGION, 2016-2023 ($MILLION)
TABLE 4. GLOBAL LOYALTY MANAGEMENT MARKET FOR CHANNEL LOYALTY BY REGION, 2016-2023 ($MILLION)
TABLE 5. GLOBAL LOYALTY MANAGEMENT MARKET BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 6. GLOBAL LOYALTY MANAGEMENT MARKET FOR LARGE ORGANIZATIONS BY REGION, 2016-2023 ($MILLION)
TABLE 7. GLOBAL LOYALTY MANAGEMENT MARKET FOR SMALL & MID-SIZE ORGANIZATIONS BY REGION, 2016-2023 ($MILLION)
TABLE 8. GLOBAL LOYALTY MANAGEMENT MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 9. GLOBAL LOYALTY MANAGEMENT MARKET FOR BFSI BY REGION, 2016-2023 ($MILLION)
TABLE 10. GLOBAL LOYALTY MANAGEMENT MARKET FOR RETAIL BY REGION, 2016-2023 ($MILLION)
TABLE 11. GLOBAL LOYALTY MANAGEMENT MARKET FOR TRAVEL & HOSPITALITY BY REGION, 2016-2023 ($MILLION)
TABLE 12. GLOBAL LOYALTY MANAGEMENT MARKET FOR MANUFACTURING BY REGION, 2016-2023 ($MILLION)
TABLE 13. GLOBAL LOYALTY MANAGEMENT MARKET FOR IT & TELECOM BY REGION, 2016-2023 ($MILLION)
TABLE 14. GLOBAL LOYALTY MANAGEMENT MARKET FOR MEDIA & ENTERTAINMENT BY REGION, 2016-2023 ($MILLION)
TABLE 15. GLOBAL LOYALTY MANAGEMENT MARKET FOR HEALTHCARE BY REGION, 2016-2023 ($MILLION)
TABLE 16. GLOBAL LOYALTY MANAGEMENT MARKET FOR OTHERS BY REGION, 2016-2023 ($MILLION)
TABLE 17. LOYALTY MANAGEMENT MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 18. NORTH AMERICA LOYALTY MANAGEMENT MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 19. NORTH AMERICA LOYALTY MANAGEMENT MARKET BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 20. NORTH AMERICA LOYALTY MANAGEMENT MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 21. NORTH AMERICA LOYALTY MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 22. EUROPE LOYALTY MANAGEMENT MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 23. EUROPE LOYALTY MANAGEMENT MARKET BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 24. EUROPE LOYALTY MANAGEMENT MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 25. EUROPE LOYALTY MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 26. ASIA-PACIFIC LOYALTY MANAGEMENT MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 27. ASIA-PACIFIC LOYALTY MANAGEMENT MARKET BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 28. ASIA-PACIFIC LOYALTY MANAGEMENT MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 29. ASIA-PACIFIC LOYALTY MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 30. LAMEA LOYALTY MANAGEMENT MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 31. LAMEA LOYALTY MANAGEMENT MARKET BY ORGANIZATION SIZE, 2016-2023 ($MILLION)
TABLE 32. LAMEA LOYALTY MANAGEMENT MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 33. LAMEA LOYALTY MANAGEMENT MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 34. COMPANY SNAPSHOT: AIMIA INC.
TABLE 35. COMPANY SNAPSHOT: BOND BRAND LOYALTY
TABLE 36. COMPANY SNAPSHOT: COMARCH
TABLE 37. COMPANY SNAPSHOT: EPSILON
TABLE 38. COMPANY SNAPSHOT: ICF INTERNATIONAL, INC.
TABLE 39. COMPANY SNAPSHOT: IBM CORPORATION
TABLE 40. COMPANY SNAPSHOT: KOBIE MARKETING, INC.
TABLE 41. COMPANY SNAPSHOT: ORACLE CORPORATION
TABLE 42. COMPANY SNAPSHOT: SAP SE
TABLE 43. COMPANY SNAPSHOT: TIBCO SOFTWARE INC.

LIST OF FIGURES

FIGURE 1. MARKET SEGMENTATION: LOYALTY MANAGEMENT MARKET
FIGURE 2. TOP WINNING STRATEGIES, 2013-2017 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2013-2017
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. TOP IMPACTING FACTORS
FIGURE 6. PORTERS FIVE FORCES ANALYSIS
FIGURE 7. MODERATE BARGAINING POWER OF BUYERS
FIGURE 8. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 9. HIGH DEGREE OF COMPETITION
FIGURE 10. MODERATE THREAT OF NEW ENTRANTS
FIGURE 11. LOW THREAT OF SUBSTITUTES
FIGURE 12. MARKET PLAYER POSITIONING, 2015
FIGURE 13. DRIVERS
FIGURE 14. RESTRAINTS
FIGURE 15. OPPORTUNITIES
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT MARKET BY TYPE, 2016 & 2023 (%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT MARKET FOR CUSTOMER RETENTION BY REGION, 2016 & 2023 (%)
FIGURE 18. GLOBAL LOYALTY MANAGEMENT MARKET FOR CUSTOMER RETENTION, 2016-2023 ($MILLION)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT MARKET FOR CUSTOMER LOYALTY BY REGION, 2016 & 2023 (%)
FIGURE 20. GLOBAL LOYALTY MANAGEMENT MARKET FOR CUSTOMER LOYALTY, 2016-2023 ($MILLION)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT MARKET FOR CHANNEL LOYALTY BY REGION, 2016 & 2023 (%)
FIGURE 22. GLOBAL LOYALTY MANAGEMENT MARKET FOR CHANNEL LOYALTY, 2016-2023 ($MILLION)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT BY ORGANIZATION SIZE, 2016 & 2023 (%)
FIGURE 24. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR LARGE ORGABIZATION BY REGION, 2016 & 2023 (%)
FIGURE 25. GLOBAL LOYALTY MANAGEMENT MARKET FOR LARGE ORGANIZATIONS, 2016-2023 ($MILLION)
FIGURE 26. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR SMALL & MID-SIZE ORGABIZATION BY REGION, 2016 & 2023 (%)
FIGURE 27. GLOBAL LOYALTY MANAGEMENT MARKET FOR SMALL & MID-SIZE ORGANIZATIONS, 2016-2023 ($MILLION)
FIGURE 28. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT BY INDUSTRY VERTICAL, 2016 & 2023 (%)
FIGURE 29. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR BFSI BY REGION, 2016 & 2023 (%)
FIGURE 30. GLOBAL LOYALTY MANAGEMENT MARKET FOR BFSI, 2016-2023 ($MILLION)
FIGURE 31. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR RETAIL BY REGION, 2016 & 2023 (%)
FIGURE 32. GLOBAL LOYALTY MANAGEMENT MARKET FOR RETAIL, 2016-2023 ($MILLION)
FIGURE 33. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR TRAVEL & HOSPITALITY BY REGION, 2016 & 2023 (%)
FIGURE 34. GLOBAL LOYALTY MANAGEMENT MARKET FOR TRAVEL & HOSPITALITY, 2016-2023 ($MILLION)
FIGURE 35. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR MANUFACTURING BY REGION, 2016 & 2023 (%)
FIGURE 36. GLOBAL LOYALTY MANAGEMENT MARKET FOR MANUFACTURING, 2016-2023 ($MILLION)
FIGURE 37. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR IT & TELECOM BY REGION, 2016 & 2023 (%)
FIGURE 38. GLOBAL LOYALTY MANAGEMENT MARKET FOR IT & TELECOM, 2016-2023 ($MILLION)
FIGURE 39. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR MEDIA & ENTERTAINMENT BY REGION, 2016 & 2023 (%)
FIGURE 40. GLOBAL LOYALTY MANAGEMENT MARKET FOR MEDIA & ENTERTAINMENT, 2016-2023 ($MILLION)
FIGURE 41. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR HEALTHCARE BY REGION, 2016 & 2023 (%)
FIGURE 42. GLOBAL LOYALTY MANAGEMENT MARKET FOR HEALTHCARE, 2016-2023 ($MILLION)
FIGURE 43. COMPARATIVE SHARE ANALYSIS OF LOYALTY MANAGEMENT FOR OTHERS BY REGION, 2016 & 2023 (%)
FIGURE 44. GLOBAL LOYALTY MANAGEMENT MARKET FOR OTHERS, 2016-2023 ($MILLION)
FIGURE 45. GLOBAL LOYALTY MANAGEMENT MARKET BY GEOGRAPHY, MARKET SHARE (2016) AND CAGR (2017-2023, %)
FIGURE 46. COMPARATIVE SHARE ANALYSIS OF NORTH AMERICA LOYALTY MANAGEMENT BY TYPE, 2016 & 2023 (%)
FIGURE 47. COMPARATIVE SHARE ANALYSIS OF NORTH AMERICA LOYALTY MANAGEMENT BY INDUSTRY VERTICAL, 2016 & 2023 (%)
FIGURE 48. COMPARATIVE SHARE ANALYSIS OF NORTH AMERICA LOYALTY MANAGEMENT BY COUNTRY, 2016 & 2023 (%)
FIGURE 49. NORTH AMERICA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 50. U.S. LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 51. CANADA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 52. MEXICO LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 53. COMPARATIVE SHARE ANALYSIS OF EUROPE LOYALTY MANAGEMENT BY TYPE, 2016 & 2023 (%)
FIGURE 54. COMPARATIVE SHARE ANALYSIS OF EUROPE LOYALTY MANAGEMENT BY INDUSTRY VERTICAL, 2016 & 2023 (%)
FIGURE 55. COMPARATIVE SHARE ANALYSIS OF EUROPE LOYALTY MANAGEMENT BY COUNTRY, 2016 & 2023 (%)
FIGURE 56. EUROPE LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 57. UK LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 58. GERMANY LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 59. FRANCE LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 60. ITALY LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 61. REST OF EUROPE LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 62. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC LOYALTY MANAGEMENT BY TYPE, 2016 & 2023 (%)
FIGURE 63. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC LOYALTY MANAGEMENT BY INDUSTRY VERTICAL, 2016 & 2023 (%)
FIGURE 64. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC LOYALTY MANAGEMENT BY COUNTRY, 2016 & 2023 (%)
FIGURE 65. ASIA-PACIFIC LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 66. CHINA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 67. INDIA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 68. JAPAN LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 69. AUSTRALIA LOYALTY MANAGEMENT MARKET, 2016-2023 (MILLION)
FIGURE 70. REST OF ASIA-PACIFIC LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 71. COMPARATIVE SHARE ANALYSIS OF LAMEA LOYALTY MANAGEMENT BY TYPE, 2016 & 2023 (%)
FIGURE 72. COMPARATIVE SHARE ANALYSIS OF LAMEA LOYALTY MANAGEMENT BY INDUSTRY VERTICAL, 2016 & 2023 (%)
FIGURE 73. COMPARATIVE SHARE ANALYSIS OF LAMEA LOYALTY MANAGEMENT BY COUNTRY, 2016 & 2023 (%)
FIGURE 74. LAMEA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 75. LATIN AMERICA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 76. MIDDLE EAST LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 77. AFRICA LOYALTY MANAGEMENT MARKET, 2016-2023 ($MILLION)
FIGURE 78. AIMIA INC.: FINANCIAL PERFORMANCE
FIGURE 79. BOND BRAND LOYALTY: FINANCIAL PERFORMANCE
FIGURE 80. COMARCH: FINANCIAL PERFORMANCE
FIGURE 81. EPSILON: FINANCIAL PERFORMANCE
FIGURE 82. ICF INTERNATIONAL, INC.: FINANCIAL PERFORMANCE
FIGURE 83. IBM CORPORATION: FINANCIAL PERFORMANCE
FIGURE 84. KOBIE MARKETING, INC.: FINANCIAL PERFORMANCE
FIGURE 85. ORACLE CORPORATION: FINANCIAL PERFORMANCE
FIGURE 86. SAP SE: FINANCIAL PERFORMANCE
FIGURE 87. TIBCO SOFTWARE INC.: FINANCIAL PERFORMANCE

 

Loyalty management systems form an integral part of loyalty programs. These systems have the ability to analyze the data and operate to cater to the needs of customers, which has allowed it to become one of the most popular industry worldwide. Customer loyalty has become a popular phenomenon among businesses, as retaining a customer requires lesser cost along with publicity through existing customers. The loyalty management market is analyzed across three major segments including customer retention, customer loyalty, and channel loyalty. Channel loyalty is an emerging concept, which focus on the improved relationship between a business and its channel partners. Maintenance of a harmonized environment between a company and its channel partner through various reward programs and incentives can benefit a company on a large scale such as creating brand awareness and attracting potential customers boosting the market growth.

The global loyalty management market size is expected to reach $6,955 million by 2023, owing to rise in usage of mobile phones, significant increase in the number of card holders, lack of awareness about loyalty programs among consumers, and growth in appreciation for online reward management solutions. In addition, recurrent alteration of end-user demographics, increase in expenditure on loyalty programs from the organizations, stringent government rules & regulations, and rapid growth in the applications of Big data and machine learning supplement the market growth.

In 2016, North America generated the highest revenue, owing to its technologically advanced infrastructure and presence of the large number of retailers & loyalty programs. Asia-Pacific loyalty management market is expected to grow at the highest CAGR during the forecast period, owing to growth of the e-commerce industry, large number of card holders, and high internet penetration in the region.

Loyalty programs have been gaining strong momentum globally, especially in Asia-Pacific and African countries, owing to the Large base of internet subscribers doing online shopping, rise in smartphone usage, change in customer dynamics, and high investments from vendors. Further, consumers are loyal to brands that offer satisfactory aftersales service and durable products. In addition, market players have initiated the card membership program to increase customer loyalty along with offering additional rewards. Moreover, this increases the need for installing of an efficient analytic and management system to handle customer data and maintain a database.

BFSI is the largest consumer of loyalty management products, followed by travel & hospitality and retail segments. Furthermore, the manufacturing segment is expected to witness the highest growth rate, as the manufacturing industry has a customer-centric approach rather than product-centric. This has urged the key vendors operating in the loyalty management market to emphasize on adopting customer relationship management (CRM) and loyalty programs.

The key market players in the global loyalty management market have adopted various strategies, such as product launches, partnerships, business expansions, promotional activities, and strategic alliances, to increase awareness about newer technologies and increase their adoption across various verticals.

 

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