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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.
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Comarch SA, International Business Machines Corporation, Oracle Corporation, Aimia, SAP ERP, Bond Brand Loyalty, and 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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