LONDON, Jan. 19, 2017 /PRNewswire/ -- "Rising need for competitive differentiation among organizations to increase their market shares is the factor expected to drive the loyalty management market between 2016 and 2021."
The loyalty management market is projected to grow from USD 1.68 billion in 2016 to USD 4.59 billion by 2021, at a CAGR of 22.2% from 2016 to 2021. Major growth drivers for this market include rising need for competitive differentiation among organizations to increase their market shares, frequent shift in consumer demographics, increasing focus of loyalty programs on customer segmentations, significant rise in the use mobile technologies, and increase in the number of cardholders.
"The on-demand deployment type segment of the loyalty management market is projected to grow at the highest CAGR during the forecast period."
The on-demand deployment type segment of the loyalty management market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021.
Several organizations across the globe are opting for on-demand (cloud-based) loyalty management solutions, owing to various advantages offered by them, which include low infrastructure costs and improved output with qualitative results. Increasing adoption of on-demand deployment type loyalty management solutions by various organizations is expected to fuel the growth of the on-demand deployment type segment of the loyalty management market during the forecast period.
"The Latin America loyalty management market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021."
A weak economic scenario in the Latin American countries is compelling organizations in this region to boost their productivity and efficiency as well as retain their existing customers and acquire new ones. Moreover, growing consumption capacity of the middle class population in the Latin American region, increasing internet penetration, and growing user base are the factors fueling the need for targeted loyalty management solutions in the Latin American region. However, the North American region is estimated to account for the largest share of the loyalty management market in 2016. The growth of the North America loyalty management market can be attributed to the presence of key vendors of loyalty management solutions in the region.
In the process of determining and verifying the market size for several segments and subsegments through secondary research, extensive primary interviews of key industry experts were conducted. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
- By Designation: C level: 45%, Director level: 30%, and Others: 25%
- By Region: North America: 30%, Europe: 45%, and Asia-Pacific: 25%,
The various Key vendors profiled in the report are as follows:
1. Oracle Corporation (U.S.)
2. IBM Corporation (U.S.)
3. SAP SE (Germany)
4. Aimia Inc. (Canada)
5. Comarch (Poland)
6. Bond Brand Loyalty (Canada)
7. Brierley+Partners (U.S.)
8. Epsilon (U.S.)
9. ICF International, Inc. (U.S.)
10. Kobie Marketing, Inc. (U.S.)
11. TIBCO Software (U.S.)
12. Maritz Holdings Inc. (U.S.)
13. Fidelity Information Services (FIS) (U.S.)
14. MicroStrategy, Inc. (U.S.)
15. Lumata Group (U.K.)
The report provides a picture on the loyalty management market for different industry verticals and regions. It aims at estimating size and future growth potential of the loyalty management market across different segments, such as type of solution, deployment type, organization size, vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the loyalty management market by providing them the closest approximations of revenue numbers for the overall market and its subsegments. This report is expected to help stakeholders in obtaining improved understanding of the competitive landscape of the market to gain insights for better positioning their businesses and making suitable go-to-market strategies. The report also helps stakeholders to understand the pulse of the market and provides them with the information on key market drivers, restraints, challenges, and opportunities for the loyalty management market.
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