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The Loyalty Management Market is expected to attain a market size of $6.2 billion by 2023, growing at a CAGR of 18.6% during the forecast period, due to growing mobile phone usage, rising number of card holders, and appreciation for online reward management solutions among end users. Changing end-user demographics, growing expenditure on loyalty programs, and rapid growth in the applications of Big data and machine learning have further added to the market growth. Loyalty Management Market uses very effective and planned activities to select, manage, relate, and control buying behavior among customers. This is a major step taken by organizations to retain customers. The loyal customers then share their experiences with the help of advocacy-driven, cloud-based, and mobile-delivered programs with their contacts, enabling new customer acquisitions. Loyalty management also contributes in gathering more data and insights and accordingly profile customers. Based on Solution Types, the market is segmented into Customer Loyalty, Employee Retention, and Channel Loyalty.
Based on Organizations Size, the market is segmented into Small & Medium Enterprises and Large Enterprises. Based on Verticals, the market is segmented into BFSI, Travel & Hospitality, Media & Entertainment, Healthcare, Retail, Telecom & IT, Manufacturing, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report covers the analysis of key stake holders of the Loyalty Management Market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, SAP SE, Aimia Inc., Comarch, ICF International, Inc., TIBCO (The Information Bus Company) Software Inc., Microstrategy Incorporated, Alliance Data Systems Corporation (Epsilon), and Fidelity Information Services (FIS).