The global loyalty management program market is likely to gain momentum from the strict government rules and regulations on customer services. Fortune Business Insights, in a published report, titled, “Loyalty Management Market, Size, Share and Global Trend by Type (Customer Retention, Customer Loyalty, Channel Loyalty), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, IT and Telecommunication, Retail, Travel and Hospitality, Manufacturing, Media and Entertainment, Hospitality, and Others) And Geography Forecast till 2026,” states that the global loyalty management market is anticipated to reach US$ 7,126.8 Mn by the end of 2026, exhibiting a CAGR of 16.84% during the forecast period from 2019 – 2026. The market was valued at US$ 2,133.2 Mn in 2018.
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Increasing Investments in Technologically Advanced Solutions to Favor Growth in Asia Pacific
The global loyalty management market is geographically segmented into the Asia Pacific, the Middle East and Africa, Europe, Latin America, and North America. Amongst these regions, in the year 2018, North America had generated US$ 778.8 Mn in terms of revenue in the global market. Fortune Business Insights predicts that the region will remain in its dominating position throughout the forecast period. The growth is attributed to the existence of numerous technologically advanced companies and persistent research and development activities to develop technology infrastructure. Also, the rate of active loyalty programs in this region has been increasing day by day. Major market players operating in this region are focusing on driving profit by achieving the best customer experience. Hence, solution providers are shifting towards offering unique online loyalty reward programs across the companies.
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The Asia Pacific market, meanwhile was valued at US$ 462.3 Mn in 2018. The region is anticipated to witness significant growth during the forecast period. This is likely to occur as the large enterprises are investing a huge amount of money on technologically advanced loyalty management solution. This will, in turn, raise the adoption of such solutions. Furthermore, increasing focus on customer-centric relationships as well as rapid usage of smartphone technologies is likely to fuel global loyalty management market revenue in this region.
Kobie Marketing and Capillary Focus on Innovative Product Launches to Attract Customers
Kobie Marketing, a developer of solutions to drive customer loyalty, based in Florida, announced that it has launched Kobie Alchemy X in May 2019. It is the next-generation real-time loyalty platform that is developed using configuration as a key component. It has eliminated the need for custom development when modified, or new business requirements come up. Moreover, Kobie Alchemy X is infused with a marketer-friendly, advanced interface to seamlessly guide the users through the creation of contextual customer interactions.
Capillary Technologies, a mobile loyalty solution provider, headquartered in Singapore, unveiled DealHunt in January 2019. It is considered to be the first shopping app that offers exclusive deals and coupons across more than 20 categories. Customer can choose from over a thousand brands on both offline and online platforms. These include health, beauty, electronics, food, travel, beauty, and more genres. The iOS version will be available later this month while the Android version is already available for download on Google Play Store.
- Bond Brand Loyalty
- Tibco Software
- ICF Next
- Kobie Marketing
Table of Content
1.1. Definition, By Segment
1.2. Research Approach
- Executive Summary
- Market Dynamics
3.1. Drivers, Restraints and Opportunities
3.2. Emerging Trends of Market
- Key Insights
4.1. Macro and Micro Economic Factors
4.2. Key Technological Developments