Many organizations have increased their spending on loyalty programs due to their offerings, which include expanded coverage to everyday consumer purchases, innovative rewards leading to an increased scope for customer retention and response, and collaboration opportunities for enhanced services. The key operational drivers for this market include the frequent shift of end-user demographics, rise in new mobile technologies like connecting to the market with various apps, increased organizational focus on customer segmentation for effective loyalty management programs and an increasing number of card holders. While lower customer awareness and various rules and regulations imposed by the government, impede the growth of the market. Various organizations are now investing in many card loyalty technologies providing an opportunity for the growth of the market. In order to match the sophistication of online reward management solution, many organizations tend to choose loyalty management solutions provided by various vendors. North America held the highest share of overall loyalty management market in 2015, while Asia Pacific and Latin America are projected to grow at a brisk pace owing to increased adoption of mobile technology and increased focus on employee retention respectively.
Based on this report, the global loyalty management market is segmented into type of solution, type of deployment, organization size, various applications, and geography. In the solution segment, customer loyalty has the major share and employee retention has a huge potential for growth. In the organization segment, large enterprises are projected to have higher market share and a large scope for growth for the small & medium enterprises. In the application segment, BFSI is projected to have the maximum share.
Regional focus based on our study can be segmented into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. While the North American market is majorly driven by the huge increase in the number of card users, the European market is driven by a large number of customers opting for a retail shop. Asia Pacific, with its largest estimated growth in opting mobile technologies due to increasing middle-class wages, serves as a driver for loyalty management market. Market penetration and focus on employee retention are the major drivers in Middle East & Africa and Latin America respectively.
Some of the key players of this market mentioned in this report are:
- Fidelity information Services Inc.
- IBM Corporation
- Loyalty Research Center
- Loyalty Square.
- Maritz Holding Inc.
- MicroStrategy Inc.
- Oracle Corporation
- SAP SE
Key Deliverables of the Study
- Market definition global loyalty management market along with identification of key drivers and restraints for the market.
- Market analysis for the global loyalty management market, with region specific assessments and competition analysis on a global and regional scale.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect the global loyalty management market on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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1.1 Research Methodology
1.1.1 Definition of the Market
1.1.2 Report Description
1.1.3 Executive Summary
2. Key Findings of the Study
3. Market Overview
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's Five Forces Model
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Buyers
3.3.3 Threat of Substitute Products
3.3.4 Threat of New Entrants
3.3.5 Intensity of Competitive Rivalry
3.4 Industry Policies
4. Market Dynamics
4.2 Market Drivers
4.2.1 Implementation of Customer Centric Approach across Businesses
4.2.2 Intensified Competition Increasing the Cost of Customer Acquisition
4.2.3 Increasing Size and Complexity of Loyalty Programs
4.3 Market Restraints
4.3.1 Lack of Knowledge of Loyalty Program Benefits
4.4 Market Opportunities
4.4.1 Availability of Cost Effective Software Solutions
5. Market Segmentation
5.1 By Type of Solution
5.1.1 B2C Solutions
5.1.2 B2B Solutions
5.2 By Industry Verticals
5.2.2 Consumer Goods and Retail
5.2.4 IT and Telecom
5.2.5 Travel and Hospitality
5.3 By Deployment
5.3.1 On Premise
5.3.2 On Demand
5.4 By User Handling Capacity
6. By Geography
6.1 North America
6.4 Latin America
6.5 Middle East and Africa
6.5.2 Saudi Arabia
6.5.3 South Africa
7. Vendor Market Share Analysis
8. Company Profile
8.3 Oracle Corporation
8.5 Loyalty Lab
8.7 Alcatel Lucent
8.8 Fidelity Information Services
9. Future of Global Loyalty Management Market