Loyalty Management Market Expanding at a CAGR of 21.47% during 2022-2027

SHERIDAN, WYOMING, UNITED STATES, December 5, 2022 /EINPresswire.com/ -- IMARC Group has recently released a new research study titled “Loyalty Management Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the loyalty management industry?

The global loyalty management market size reached US$ 2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2027, exhibiting a growth rate (CAGR) of 21.47% during 2022-2027.

What is a loyalty management?

A loyalty management system is marketing automation software used to launch, manage and analyze the performance of loyalty programs. It assists in improving customer engagement, generating brand awareness, enhancing the customer experience, and providing points, discounts, coupons, cash back, and revenues.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the loyalty management market?

Loyalty management is employed in the e-commerce industry to optimize the user experience and predict customer behavior for targeted advertising. This, in confluence with the increasing preference for online shopping through smartphones, represents one of the major factors augmenting the market growth. In addition, the rising utilization of loyalty management in the banking, financial service and insurance (BFSI) industry to send automated emails and short message service (SMS) to enhance the experience of the user is contributing to the market growth. Apart from this, the integration of artificial intelligence (AI), machine learning (ML), chatbots, and cloud-based solutions are offering lucrative growth opportunities to industry players.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Customer Retention
Customer Loyalty
Channel Loyalty

Breakup by Organization Size:

Large Enterprises
Small and Medium Enterprises

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Industry Vertical:

BFSI
Retail
Travel and Hospitality
Manufacturing
IT and Telecom
Media and Entertainment
Healthcare
Others

By Geography:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

Annex Cloud
Bond Brand Loyalty Inc
Comarch SA
Epsilon Data Management LLC
Fidelity Information Services Inc
ICF International Inc
Kobie Marketing Inc
LoyaltyLion
Oracle Corporation
Paystone Inc
SAP SE
TIBCO Software Inc

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