Loyalty Management Market Global Outlook to 2023 Profiling key Players like Oracle Corporation, IBM Corporation, Aimia Inc., Comarch, Bond Brand Loyalty, Epsilon, ICF International, Inc., and Kobie Marketing, Inc., SAP SE

According to a new report Added by Premium Market Insights, titled, Loyalty Management Market by Type, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global loyalty management market was valued at $1,931 million in 2016, and is projected to reach $6,955 million by 2023, growing at a CAGR of 20.8% from 2017 to 2023. The customer loyalty segment is anticipated to grow at the highest rate during the forecast period.

North America generated the highest revenue in the global loyalty management market in 2016 due to adequate infrastructural development for the adoption of loyalty management. Asia-Pacific loyalty management market is expected to grow at the highest rate during the forecast period, owing to the remarkable economic growth in Southeast Asia, India, & other economies and the growing trend of online shopping.

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The sales & marketing business segment contributed the highest share in 2016. This segment accounted for $8,995 million in 2016 and is projected to grow at the CAGR of 13.1% during the forecast period. However, the loyalty management market for operations segment is projected to grow at the highest rate of 14.2%. The BFSI segment accounted for the highest revenue share in 2016, while the healthcare segment is anticipated to grow at the highest rate of 14.4%.

The global loyalty management market is driven by a rise in the use of mobile phones, lack of awareness about loyalty programs among consumers, a significant increase in the number of cardholders, and growth in appreciation for online reward management solutions. In addition, recurrent alteration of end-user demographics, increase in expenditure on loyalty programs from the organizations, stringent government rules & regulations, and rapid growth in applications of Big data and machine learning supplement the market growth.

The report features a competitive scenario of the global loyalty management industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Oracle Corporation, IBM Corporation, Aimia Inc., Comarch, Bond Brand Loyalty, Epsilon, ICF International, Inc., and Kobie Marketing, Inc., SAP SE, and TIBCO (The Information Bus Company) Software Inc. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the loyalty management market.

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Key Findings of the Loyalty Management Market:

• The customer retention segment accounted for the highest share of the global loyalty management industry in 2016, growing at a CAGR of 19.3% from 2017 to 2023.
• The BFSI loyalty management market generated the highest revenue share in 2016 and is projected to grow at a rate of 20.9%.
• North America loyalty management market generated the highest share, valued at $647 million, in terms of revenue in 2016.
• The loyalty management market for small & mid-size organizations is expected to witness the highest growth rate during the forecast period.

KEY MARKET SEGMENTS
The market is segmented based on Types, Components, Applications, and Geography.

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

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

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 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 market entry and expansion.
• A detailed analysis of the geographical segments enables the 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 make informed business decisions.
• Profile analysis of leading players that operate in the loyalty management market is provided in the report, which highlights the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

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This release was published on openPR.