DUBLIN, Dec. 14, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/b37bbv/loyalty) has announced the addition of the "Loyalty Management Market by Type of Solution (Customer Loyalty, Employee Retention and Channel Loyalty), by Deployment Model, by Organization Size, by Vertical and Region - Global Forecast to 2020" report to their offering.
This report on loyalty management software-based solutions estimates the market to grow from USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020, at a CAGR of 23.2% during the forecast period
This research report on loyalty management divides the market on the basis of types of solutions into customer loyalty solutions, employee retention solutions, and channel loyalty solutions. The customer loyalty solutions segment is estimated to hold the largest market share in 2015. However, the employee retention solutions are projected to grow at the highest CAGR during the forecast period.
The report also focuses on the type of deployment models available for different kinds of loyalty management solutions. These are basically divided into on-premises or traditional software-based solutions, and on-demand or cloud-based solutions. The on-demand or cloud-based loyalty management solutions are expected to grow at a comparatively higher CAGR than the traditional or on-premises solutions. The report is further divided on the basis of the types of organizations using these solutions - Small and Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises are estimated to hold the largest market share in 2015. However, the SMEs are projected to grow at a higher CAGR during the forecast period.
The BFSI industry is estimated to hold the largest market share in 2015. However, manufacturing, healthcare and life sciences, and other industries are projected to grow at the highest CAGR during the forecast period.
There are few restraints acting as the hindrance for the loyalty management solution vendors. The list includes the low level of customer awareness about the loyalty program's benefits and the government rules and regulations. Organizations are adopting the loyalty management solutions but due to less awareness amongst the customers about the benefits included with these programs, these organizations are reluctant to deploy the loyalty management solutions. Similarly, few of the government rule and regulation prevailing especially in BFSI industry are obstructing the growth of the loyalty management market.
The primary vendors occupying the loyalty management market space are IBM Corporation, Oracle Corporation, SAP SE, Alcatel-Lucent S.A., Aimia, Maritz LLC (including Bond Brand Loyalty), Comarch, Fidelity National Information Services (FIS) Inc., MicroStrategy Inc., and Tibco Loyalty Lab.
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SOURCE Research and Markets