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Global Loyalty Management Market Expected to Grow at a CAGR of 12% between 2022 and 2027.

According to a new report by EMR titled, 'Global Loyalty Management Market Report and Forecast 2022-2027', the global loyalty management market size was valued at USD 7.6 billion in 2020. The market is further expected to grow at a CAGR of 12% in the forecast period of 2022-2027 to reach a value of USD 15 billion by 2026.

The global loyalty management market is being driven by the rising adoption of multichannel and omnichannel programs. The advancements in technologies further propel the market growth. The Asia Pacific region is expected to witness the highest growth in the forecast period as the organisations are adopting omnichannel marketing to achieve customer loyalty. Within the Asia Pacific loyalty management market, Japan, India, and Japan are observing mobile technology and application advancements. The region offers enormous growth potential owing to the fast adoption of technologies. The organisations have started implementing loyalty management solutions to invigorate their growth and widen their customer base.

International Business Machines Corporation (NYSE: IBM) and Oracle Corporation (NYSE: ORCL) are some of the key players in the global loyalty management market. Oracle Corporation, in October 2020, announced that it has come to an agreement to acquire CrowdTwist, a leading cloud-native customer loyalty solution, to enable the brands to provide personalised customer experiences. This unique solution provides over 100 innovative engagement paths, delivering rapid time-to-value for marketers to form a complete view of the customer. Such developments will further enhance the market growth of the loyalty management industry.

Market Analysis by Delivery Type, Organisation Size, End Use, and Region:

  • The loyalty management market, by delivery type, is bifurcated into standalone program and managed platform.
  • On the basis of organisation size, the market is divided into large organisation and small and mid-size organisation.
  • The market is divided on the basis of end-use into BFSI, automotive, aviation, retail and customer goods, media and entertainment, and hospitality, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global loyalty management market is driven by the rising demand for loyalty services in the financial services, retail, and hospitality sectors.
  • The increasing demand for analytics, digital reward program, and business intelligence is aiding the market growth for loyalty management.
  • The growing focus on customer retention loyalty programs, outstanding employee engagement, and cross-selling by significant sector verticals, such as government and BFSI, are enhancing the market growth.
  • Due to the boost in card sales, investments by customers in several benefit vouchers, and choices in Brazil and Mexico, the market for loyalty management is accelerating.

Key Offerings of the Report:

  • The EMR report gives an overview of the global loyalty management industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) market trends for the delivery type, organisation size, end-use, and regional markets of the global loyalty management market.
  • It assesses the market based on the SWOT as well as Porter’s Five Forces models.

Comarch SA, International Business Machines Corporation, Oracle Corporation, Aimia, SAP SE, Bond Brand Loyalty, TIBCO Software Inc., among others, are the key players in the global loyalty management market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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