Press Release
Press Release
As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
According to a new report by EMR titled, 'Global Loyalty Management Market Report and Forecast 2021-2026', 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 2021-2026 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:
Key Findings of the Report:
Key Offerings of the Report:
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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