PUNE, Maharashtra, November 11, 2015 /PRNewswire/ --
According to a new market research report, "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", published by MarketsandMarkets, The Loyalty Management Market is expected to grow USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020, at a CAGR of 23.2% during the forecast period.
Browse 64 market data Tables with 43 Figures across 123 Pages and in-depth TOC on "Loyalty Management Market"
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The market report defines and divides the Loyalty Management Market into various segments with an in-depth analysis and estimation of market size
The Loyalty Management Market is expected to grow USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020, at a CAGR of 23.2% during the forecast period. The frequent changes in consumers' demography, rise in mobile technology, increase in number of card holders, and increased focus of loyalty programs on customer segmentations are few of the major factors driving the Loyalty Management Market across the globe.
Customer segmentation is pushing the Loyalty Management Market
The increased focus of organizations on the customer segmentation has pushed the loyalty management solution vendors to provide better solutions for customer loyalty programs. Moreover, users are getting connected with each other and with the retail and banking industries through various mobile apps. This significant rise in mobile technologies is one of the major factors driving the market across the globe.
North America has the largest market share; Latin America is forecast to grow with highest CAGR
The market in North America is mature, as an individual consumer in the region is expected to hold more than two cards on an average, on which loyalty programs are activated. Similarly in Europe, the frequent visit of consumers to retail shops is one of the factors driving this market in Europe. The market in Asia-Pacific has a significant growth rate owing to the fact that the adoption of mobile technology has increased at a rapid pace in countries such as India, Japan, and China. The increase in the number of loyalty programs in various industries like airlines, travel and hospitality, and IT & telecommunication has driven the Loyalty Management Market in the Middle East and Africa region. The market in Latin America is expected to grow at the highest CAGR owing to the organization's increased focus on employee retention.
Key vendors in the loyalty management ecosystem were identified and studied individually, to understand the solution/ software offerings & features, business models, pricing models, and their respective customer base. Key players are: Oracle Corporation, Aimia, Alcatel-Lucent, Comarch, Fidelity information Services Inc., IBM Corporation, Maritz Holding Inc., MicroStrategy Inc., SAP SE, and TIBCO are few of the top vendors in this market and catering to various industries across the globe.
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The report defines and segments the global Loyalty Management Market on the basis of type of solution, by deployment model, by organization size, by vertical and by region along with providing an in-depth analysis and market size estimations. This report revolves around the loyalty management software-based solutions available in the market.
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