Dublin, July 30, 2020 (GLOBE NEWSWIRE) — The “Loyalty Management Market by Component (Solutions and Services), Organization Size (Large Enterprises and SMEs), Deployment Type, Operator (B2B and B2C), Application (Web and Mobile), Vertical, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
Increasing adoption of omnichannel and advanced technologies to drive the loyalty management market
The growing need for enhancing customer experience and gaining competitive advantage is a key growth factor for the loyalty management market. However, stringent government regulations may affect the growth of loyalty management market.
Customer loyalty is one of the most important factors among organizations offering similar products or services. It provides a crucial product and brand differentiation for organizations when a differentiation through price becomes secondary. Organizations know that loyal customers would promote their brand to new customers by sharing their positive experiences. Effective customer loyalty programs ensure customers engaged and there is successful utilization of products and services. It increases customer retention, brand recall, and opportunities to carry out business with them. Hence, organizations with an efficient loyalty management strategy can record growth in revenue and profitability. Currently, customers are opting for simple, portable, and easy-to-use smart devices, such as smartphones; hence, mobile-based solutions for loyalty management are gaining traction.
Among deployment modes, the cloud segment to grow at a higher CAGR during the forecast period
Owing to an increasing awareness of the benefits of cloud-based solutions, the cloud deployment for loyalty management solutions is expected to grow at a significant rate. The solution providers focus on the development of robust cloud-based solutions for their clients, as organizations have migrated to either a private or a public cloud. Moreover, cloud-as-a-service is enabling organizations to manage not only costs but also achieve better agility. As cloud-based solutions are budget-friendly and easy to deploy, it is highly preferred by Small and Medium-sized Enterprises (SMEs).
Large Enterprises segment to dominate the market during the forecast period
Organizations with over 1,000 employees are categorized as large enterprises. The adoption of customer engagement solutions in large enterprises is higher as compared to small & medium enterprises, and this trend is expected to continue during the forecast period. Large enterprises deploy loyalty management solutions to improve customer retention rate, decrease customer attrition, boost customer re-purchase, and mostly enhance their customer experience and satisfaction. Large enterprises encompass distributed data related to customers scattered across different departments and are, hence, opting for robust loyalty management solutions to manage the loyalty lifecycle of a wider customer base and gain valuable insights from this data. Large enterprises are keen on investing in new and latest technologies such as AI, ML, and Big Data to automate the loyalty management process.
Asia Pacific to grow at the highest CAGR during the forecast period
Organizations across the APAC opting for omnichannel marketing to achieve customer loyalty. Advancements of mobile technology and applications in APAC countries, such as Japan, China, and India. Travel and hospitality, retail, and banking are the major verticals driving the loyalty management market in APAC. China, Japan, and Australia have a high adoption rate of the loyalty management solution and services that resolve the complex queries by customers. APAC countries have enormous potential to grow further, due to the fast adoption of technologies. To enhance their growth and broaden the customer base, organizations have started implementing loyalty management solutions.
Research Coverage
The loyalty management market has been segmented based on Component (Software, Service(Professional Services(Consulting, Implementation, Support & Maintenance), Managed Services)), Organization Size (SMEs, Large Enterprises), Deployment Mode(On-Premises, Cloud), Operator (B2B, B2C), Application (Web Mobile), Vertical (BFSI, Aviation, Automotive, Media and Entertainment, Retail and Consumer Goods, Hospitality, and Others) and Region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global loyalty management market.
Key Topics Covered:
1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
1.3 COVID-19 Economic Assessment
1.3.1 COVID-19 Economic Impact-Scenario Assessment
1.4 Objectives of the Study
1.5 Market Definition
1.6 Market Scope
1.6.1 Market Segmentation
1.6.2 Regions Covered
1.7 Years Considered for the Study
1.8 Currency
1.9 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Mapping: Research Methodology
2.6 Research Assumptions and Limitations
2.6.1 Assumptions for the Study
2.6.2 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Loyalty Management Market
4.2 North America Market, by Component and Country
4.3 Market, by Component, 2020
4.4 Market, by Deployment Type
4.5 Loyalty Management Market, by Organization Size, 2020 Vs. 2025
4.6 Market, by Operator, 2020
4.7 Market, by Application, 2020
4.8 Market, by Vertical
4.9 Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
5.3.1 Drivers and Opportunities
5.3.2 Restraints and Challenges
5.4 Industry Trends
5.4.1 Advanced Technologies
5.4.2 Use Cases
6 Loyalty Management Market, by Component
6.1 Introduction
6.2 Solutions
6.2.1 Solutions: Market Drivers
6.2.2 Solutions: COVID-19 Impact
6.3 Services
6.3.1 Services: Market Drivers
6.3.2 Services: COVID-19 Impact
6.3.3 Professional Services
6.3.4 Managed Services
7 Loyalty Management Market, by Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises: Market Drivers
7.2.2 On-Premises: COVID-19 Impact
7.3 Cloud
7.3.1 Cloud: Market Drivers
7.3.2 Cloud: COVID-19 Impact
8 Loyalty Management Market, by Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Large Enterprises: Market Drivers
8.2.2 Large Enterprises: COVID-19 Impact
8.3 Small and Medium-Sized Enterprises
8.3.1 Small and Medium-Sized Enterprises: Market Drivers
8.3.2 Small and Medium-Sized Enterprises: COVID-19 Impact
9 Loyalty Management Market, by Operator
9.1 Introduction
9.2 Business-To-Business
9.2.1 Business-To-Business: Market Drivers
9.2.2 Business-To-Business: Impact of COVID-19 on the Market
9.3 Business-To-Customer
9.3.1 Business-To-Customer: Market Drivers
9.3.2 Business-To-Customer: COVID-19 Impact
10 Loyalty Management Market, by Application
10.1 Introduction
10.2 Web
10.2.1 Web: Market Drivers
10.2.2 Web: COVID-19 Impact
10.3 Mobile
10.3.1 Mobile: Market Drivers
10.3.2 Mobile: COVID-19 Impact
11 Loyalty Management Market, by Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Aviation
11.4 Automotive
11.5 Media and Entertainment
11.6 Retail and Consumer Goods
11.7 Hospitality
11.8 Other Verticals
12 Loyalty Management Market, by Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Latin America
12.6 Middle East and Africa
13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.2 Competitive Leadership Mapping (Startup)
13.3 Ranking of Key Players for the Market, 2020
14 Company Profiles
14.1 Introduction
14.2 Oracle
14.3 Tibco Software
14.4 Aimia
14.5 Breirley+Partners
14.6 Epsilon
14.7 Kobie Marketing
14.8 Lacek
14.9 Bond Brand Loyalty
14.10 Capillary
14.11 ICF Next
14.12 Annex Cloud
14.13 Comarch
14.14 Maritz Motivation
14.15 Fivestars
14.16 Kangaroo
14.17 Smile.Io
14.18 Loyalty Gator
14.19 Loyalty Lion
14.2 Apptivo
14.21 Apex Loyalty
14.22 Sailplay
14.23 Paystone
14.24 Merkle
14.25 Yotpo
14.26 Spoton Transact
14.27 Hashtag Loyalty
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