Loyalty Management Market, By Solution (B2C, B2B, and Corporate), By Deployment Type (On-premises and Cloud), By Industrial Vertical (BFSI, Consumer Goods and Retail, Healthcare, IT and Telecom, Travel and Hospitality, Manufacturing, and Other Industry Verticals), and By Region - Trends, Analysis, and Forecast till 2029

Loyalty Management Market accounted for USD 7.2 Billion in 2020 and is estimated to be USD 26.8 Billion by 2029 and is anticipated to register a CAGR of 15.7%

Loyalty management is an essential part of business that supports to uplift the company to a higher level. It allows enterprises to improve customer loyalty and eventually it leads to upsurge in sells and revenue. Under loyalty management initiatives provides several loyalty programs such as discounts, reward points, special product offers and gift vouchers across grocery shopping, banking, dining, and fuel purchasing. Growing focus on customer centric approach results to provide several loyalty programs for customer retention, cross selling and to expand the customer penetration.

Rising B2C Solutions

Loyalty management solutions are progressively getting adopted by B2C companies. B2C companies are trying to gain the real-life welfares of customer experience management for their bottom-line and reputation concurrently. The growing penetration of smartphones in B2C loyalty programs is also driving vendors to develop more enhanced smartphones oriented programmers. For example, as Starbucks examined that mobile orders and payment signify 11% of all its transactions in the U.S, it introduced its mobile app for leveraging loyalty programs.

Increasing need for competitive differentiation to improve market share is one of the important factor projected to fuel the demand of global loyalty management market over the forecast period. Moreover, rising number of cardholders and usage of rewards points as cash coupled with substantial growth in mobile technology are other factors anticipated to propel the demand of global market in the upcoming years.

Conversely, lack of awareness about the benefits of loyalty programs and stringent government rules and regulations are hampering the growth of the target market to a certain extent.

Nevertheless, rising investments in card loyalty systems technology along with growth in application of big data and machine learning creates a growth opportunities for the global market. Additionally, growing superiority of online reward management solutions are also acting as opportunity factors in the growth of global market.

Loyalty management market is segmented based on the solution, deployment type, industrial vertical, and region.

On the basis of the solution, the global loyalty management market is segmented into B2C, B2B, and corporate. Based on the deployment type, the target market is segmented into on-premises and cloud. Based on the industrial vertical, the target market is classified into BFSI, consumer goods and retail, healthcare, IT and telecom, travel and hospitality, manufacturing, and other industry verticals.

Regional Insights:

In the region, the global loyalty management market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts the highest share of the loyalty management market due to growing focus of leading industry verticals including BFSI and government among others on loyalty programs for good employee engagement, customer retention, and cross selling. Europe accounts for second highest revenue share market due to the growing number of customers choosing for a retail shop. Moreover, Latin America shows a fastest and substantial growth in the target market due to the growth in card transactions in countries such as Mexico and Brazil coupled with growth in the investments by consumers in numerous benefit options and vouchers. All these factors are projected to expand the demand of loyalty management market throughout the forecast period from 2019- 2029.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029.  For the purpose of this study, has segmented the global loyalty management market report based on solution, deployment type, industrial vertical, and region.

Global Loyalty Management Market, By Solution:

• B2C
• B2B
• Corporate

Global Loyalty Management Market, By Deployment Type:

• On-premises
• Cloud

Global Loyalty Management Market, By Industrial Vertical:

• BFSI
• Consumer Goods and Retail
• Healthcare
• IT and Telecom
• Travel and Hospitality
• Manufacturing
• Other Industry Verticals

Global Loyalty Management Market, By Application:

• Public Sector
• IT and Telecom
• Manufacturing
• BFSI
• Real Estate and Construction
• Retail
• Healthcare
• Education
• Others (F&B, Chemical, Transportation, and Agriculture)

Global Loyalty Management Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the global loyalty management market include Oracle Corporation, IBM Corporation, SAP SE, Comarch, Aimia Inc., ICF International, Inc., Bond Brand Loyalty, Epsilon, Kobie Marketing, Inc., and TIBCO (The Information Bus Company) Software Inc. These players adopt various market strategies such as partnerships, collaborations and agreements, and new product launches/product enhancements in order to cater to the needs and demands of the market.

• Oracle Corporation
• IBM Corporation
• SAP SE
• Comarch
• Aimia Inc.
• ICF International, Inc.
• Bond Brand Loyalty
• Epsilon
• Kobie Marketing, Inc.
• TIBCO (The Information Bus Company) Software, Inc.