Loyalty management is a reward system to retain a repetitive customer. The customers who are frequent buyers are the key audience of a loyalty management program. It is projected to be used to target new customers for converting them into loyal customers. Loyalty management is a part of loyalty program where communication and marketing are used to achieve customer retention. It is defined as an alignment of all promotional, marketing, and distribution channels to constantly deliver on the brand’s promise to its frequent customers.
The global loyalty management market is attributed to increasing use of mobile applications, recurrent alteration of end-user demographics, changes in organizational structure which focus on customer segregation to effectively implement loyalty programs, significant increase in card holders, and increase in spending on loyalty programs from the organizations owing to variety of offerings on everyday purchases. Loyalty management encourages customers to return for purchase and turns loyal customers into brand advocates. Loyalty management is studied across three major segments including customer retention, customer loyalty, and channel loyalty.
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The lack of awareness about such programs among customers and stringent government rules & regulations hamper the growth of loyalty management market. The flourishing applications of big data and machine learning, increase in investment for card loyalty management system technology, and growing appreciation for online reward management solutions are expected to offer numerous growth opportunities for the key vendors in the global loyalty management market.
Loyalty management market is segmented based on type, organization size, industry vertical, and geography. Based on type it is segmented into customer retention, customer loyalty, and channel loyalty. As per organization size, the market is segmented into large, and small & mid-size. Based on industry vertical, the global loyalty management market is studied across BFSI, retail, travel & hospitality, manufacturing, IT & telecom, media & entertainment, healthcare, and others (education, oil & gas, and energy & utilities). Based on region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
KEY BENEFITS FOR STAKEHOLDERS
In-depth analysis of the global loyalty management market along with its 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.
Porter’s 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.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the loyalty management market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.
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.
KEY MARKET 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
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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
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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