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Loyalty Management Market worth $25.4 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, April 26, 2024 /PRNewswire/ — Blockchain technology, sustainability-focused initiatives, subscription-based business models, and digital transformation will all have a significant impact on the Loyalty Management Market in the future. Data analytics will also drive personalised experiences in this market. In order to increase consumer engagement and loyalty, ecosystem collaborations, gamification, and voice-activated loyalty programmes will all be crucial. For firms to adjust to changing market trends and consumer tastes, regulatory compliance and ongoing innovation are crucial.

The Loyalty Management Market is expected to reach USD 25.4 billion by 2029 from USD 11.4 billion in 2024, at a CAGR of 17.3 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “Loyalty Management Market”

326 – Tables
47 – Figures
275 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2018-2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD) Million/Billion

Segments Covered

By Offering, Solution, Services, Operator, Vertical and Region

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

The major players in the Loyalty Management Market are Epsilon (US), Oracle (US), Comarch (Poland), ICF Next (US), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy),  Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), Loyalty One (Canada), Punchh (US), Ebbo (US), Preferred Patron (US),  Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore),  Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany),  Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), Smile.io (Canada), SessionM (US), LoyaltyLion (UK),  Yotpo (US), SailPlay (US), and Zinrelo (US).

Loyalty management has evolved into a crucial component of business strategy worldwide. Businesses across various industries are increasingly adopting sophisticated loyalty management solutions to enhance customer engagement, drive repeat purchases, and foster brand loyalty. With the proliferation of digital channels and the rise of personalized customer experiences, loyalty programs have become more targeted and data-driven, leveraging advanced analytics and artificial intelligence to deliver tailored rewards and incentives.

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The professional services segment contributed the largest market share in the Loyalty Management Market during the forecast period.

Professional service providers manage a part or the entire loyalty management lifecycle for enterprises, thereby comprehending business constraints and providing major insights that help these companies optimally utilize all available resources and make the most of their technological investments. The growth in the professional services segment is governed by the complexity of operations and the deployment of loyalty management solutions. It also provides support services throughout the business tenure and creates a relationship with the organization. These services help the marketing and operations teams enhance customer experience and raise ROIs as they are customized, easily applicable, and assure availability and performance to the maximum extent.

The BFSI vertical segment is estimated to hold the largest market size during the forecast.

The BFSI vertical requires loyalty management solutions to analyze data based on touchpoints, enabling brands to offer a personalized experience. A study by Accenture found that 75% of consumers expect brands to personalize their experiences, highlighting the growing demand for tailored interactions. This is particularly true in the BFSI sector, where customers expect products, services, and communication to be relevant to their individual needs and financial goals. This sector has incorporated data analytics and AI to deliver loyalty programs and increase customer engagement. There has been a continuous technological revolution in the banking sector in the form of Automated Teller Machines (ATMs), core banking, eBanking, and mobile banking, which gave rise to various services, such as Real-Time Gross Settlement (RTGS), Centralized Funds Management System (CFMS), National Electronic Funds Transfer (NEFT), and the use of credit, debit, and smart cards. Hence, banking and financial institutions are expected to invest greater resources in the market to focus on providing better loyalty programs to their customers.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Asia Pacific, home to nearly 40% of the world’s population, is witnessing diverse implementations of loyalty management technologies. The Asia Pacific region is undergoing a notable surge in adopting loyalty management, driven by the flourishing economies of India, China, Japan, Australia, and New Zealand. The rising prevalence of internet access and the escalating per-user engagement online have prompted organizations to bolster their presence in the loyalty management sector by leveraging digital channels, including social media, websites, emails, virtual assistants, and call centers.  Loyalty management solutions are adopted by many companies across industry verticals, whose primary focus is on client retention and further building sustainable customer relationships through these programs. Increasing customer retention also boosts profit margins and brings a stable source of income. Deploying a loyalty program entails an investment; however, strategies aimed at customer retention are more cost-effective than efforts directed at acquiring new customers. The surge in social media usage, the proliferation of internet access, and the expansion of the eCommerce sector constitute significant catalysts propelling the adoption of loyalty programs across Southeast Asia. Vietnam and Thailand emerged as the primary drivers within the region, with Malaysia, the Philippines, Singapore, and Indonesia following suit.

Top Key Companies in Loyalty Management Market:

The report profiles key players such as Epsilon (US), Oracle (US), Comarch (Poland), ICF Next (US), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy),  Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), Loyalty One (Canada), Punchh (US), Ebbo (US), Preferred Patron (US),  Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore),  Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany),  Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), Smile.io (Canada), SessionM (US), LoyaltyLion (UK),  Yotpo (US), SailPlay (US), and Zinrelo (US).

Recent Developments:

  • In March 2024, Epsilon launched the next generation of its retail media platform. Epsilon Retail Media applied AI and person-first identity in the ad server, unlocking opportunities to drive stronger outcomes with shoppers on retailers’ properties, across the open web or in tandem.
  • In May 2023, Bond Brand Loyalty announced a strategic investment in its business from Colorado-based private equity firm, Mountaingate Capital. The announcement followed a substantial period of growth for Bond and reflected the potential for further expansion in both reach and offerings to serve clients better.
  • In April 2023, Capillary Technologies acquired Brierley to expand its portfolio.
  • In January 2023, Giift acquired a strategic majority interest in InTouch, a loyalty solutions provider based in Indonesia.

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Loyalty Management Market Advantages:

  • By rewarding consumers for their recurring business, fostering brand loyalty, and lowering attrition rates, loyalty management solutions assist companies in keeping customers.
  • By providing customers with individualised offers, incentives, and prizes based on their preferences and behaviour, loyalty programmes encourage greater customer engagement and increase repeat business and brand advocacy.
  • With the help of loyalty management tools, businesses can make well-informed decisions and effectively target their marketing efforts by gaining vital insights about consumer behaviour, preferences, and spending habits.
  • By providing individualised prizes, exclusive benefits, and VIP treatment, loyalty programmes raise customer satisfaction and foster enduring connections with clients.
  • By encouraging consumers to spend more, upsell and cross-sell goods, and recommend the brand to others, loyalty management solutions generate more sales and income and boost profitability and business expansion.
  • By providing distinctive benefits, experiences, and value-added services that customers find appealing, loyalty programmes assist companies in standing out from the competition and enhancing customer loyalty and market placement.

Report Objectives

  • To determine and forecast the global Loyalty Management Market by offering, solution, services, operator, vertical, and region from 2024 to 2029, and analyze the various macroeconomic and microeconomic factors affecting market growth.
  • To forecast the size of the market segments concerning five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Loyalty Management Market.
  • Analyze each submarket concerning individual growth trends, prospects, and contributions to the overall Loyalty Management Market.
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Loyalty Management Market.
  • To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
  • Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Cboe Europe Derivatives Welcomes Interactive Brokers as New Trading Participant

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  • Interactive Brokers joins Cboe Europe Derivatives (“CEDX”) and will provide its clients with access to the exchange’s suite of pan-European equity derivatives in the current quarter
  • The global electronic broker has become a direct trading participant of CEDX and clearing participant of Cboe Clear Europe N.V.
  • CEDX recently expanded its range of equity options and now offers contracts on over 300 European companies

AMSTERDAM and LONDON, May 22, 2024 /PRNewswire/ — Cboe Europe Derivatives (CEDX), Cboe’s pan-European equity derivatives marketplace, today announces that Interactive Brokers has successfully joined the exchange as a participant and will provide its clients with access to CEDX’s range of equity index derivatives and equity options in the current quarter. Interactive Brokers has become a direct trading participant on CEDX and a direct clearing participant for equity derivatives on Cboe Clear Europe N.V., Cboe’s leading pan-European clearing house and CEDX’s clearing provider.

Iouri Saroukhanov, Head of European Derivatives, Cboe Europe, said: “We are thrilled to welcome Interactive Brokers to CEDX, which represents a significant milestone in the exchange’s journey to improve the ability of retail investors to gain access to and benefit from European derivatives, particularly options. Their participation demonstrates the need for more efficient European derivatives markets, which CEDX is helping to create by offering a simpler, lower cost and pan-European approach to trading and clearing to lower barriers to entry for institutional and retail investors. Interactive Brokers has been a strong collaborator to our successful US options markets for many years, and we look forward to strengthening this collaboration with them in Europe to help improve and grow derivatives markets in the region.”

Milan Galik, Chief Executive Officer at Interactive Brokers, said: “We are pleased to introduce access to CEDX, and give our clients an additional way to trade European derivatives alongside our existing global stocks, options, futures, currencies, bonds, funds and more from a single unified platform. With the addition of CEDX’s extensive European equity options and index derivatives, our clients now enjoy enhanced choice and flexibility, enabling them to manage their European investments more effectively.”

CEDX launched in September 2021, initially offering trading in futures and options based on key Cboe Europe single country and pan-European indices, with clearing provided by Cboe Clear Europe. N.V. The exchange has been designed to promote on-screen liquidity and offers a single access point to pan-European equity derivatives products, creating significant operational and capital efficiencies to participants.

CEDX expanded into equity options in November 2023, and broadened its universe of these products during Q1 2024. It now offers more than 300 options on companies from 14 countries (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland and the UK). These products amount to more than 90% of current ADV and open interest for the top 600 European equity options, as of April 2024. The complete list of underlying stocks is available here. To align with client readiness to trade these products, CEDX initiated its first Liquidity Provider (LP) Programme for equity options on April 1, which also applies to its index options contracts.

CEDX’s equity options are cleared by Cboe Clear Europe N.V., which permits the use of underlying stocks as collateral to provide offsets against matched equity option positions, delivering a potential initial margin reduction for a covered call position of around 70%, according to estimates by Cboe Clear Europe N.V. Furthermore, stock settlement (on options exercise and assignment) takes place in domestic Central Securities Depositories (CSDs), removing unnecessary costs and allowing for settlement netting with relevant cash equities transactions.

Further information about CEDX’s equity options products is available here.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX and digital assets, across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.

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UK challenger GB Bank lands £85m investment

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GB Bank, a specialist property finance bank based in Middlesbrough, UK, has secured an £85 million investment from new backer Hera Holdings and existing shareholder the Teesside Pension Fund.

Over the next 12 months, Hera Holdings is investing an initial £40 million into the bank, with an additional £40 million earmarked for investment throughout 2025 and 2026.

Meanwhile, the Teesside Pension Fund, which serves as the Local Government Pension Scheme for local authority employees in the Teesside region, is contributing an additional £5 million to the funding round.

Founded in 2017, GB Bank provides financing solutions for commercial and residential property developments in underserved areas of the UK.

The bank, which secured its full banking licence in the summer of 2022, claims to have approved “more than £80 million in loans to support over 100 property projects in locations from Northumberland to the south coast”, while also attracting “over £300 million in deposits from savers” for its fixed-term and instant access accounts.

GB Bank anticipates that the cash injection will drive “extensive growth” for the company, with plans to expand its customer base to include portfolio landlords, expatriates, and foreign nationals.

Specifically, the challenger bank states that the investment will enhance its lending capabilities, allowing it to offer funding of up to £10 million and up to 80% Loan To Value.

Moreover, GB Bank expects that the expansion will boost its capacity for commercial owner-occupier and investment mortgages as well as for its commercial and residential bridging solutions.

The bank projects that the new investment will allow it to increase its lending to £500 million over the next 12 months. As part of this growth, it intends to expand its team and infrastructure, with plans to double its current workforce this year.

Earlier this year, the company appointed industry veteran Mark Sismey-Durrant as its new chair.

Source: fintechfutures.com

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Teal secures $8M seed funding for groundbreaking accounting solution

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Teal has announced a significant milestone in its journey to transform SMB accounting with the closure of an $8 million seed funding round.

According to TechFundingNews, the company, which focuses on providing accounting infrastructure for Vertical SaaS businesses, aims to address the critical need for integrated financial solutions within various platforms.

Founded by industry veterans Ian Crosby and Adam Saint, Teal stands out in the FinTech landscape for its unique approach to accounting services. Leveraging their expertise from founding Bench Accounting and working at Shopify, Crosby and Saint have developed a platform that empowers Vertical SaaS businesses to offer customised accounting suites to their SMB customers.

One of the key challenges faced by SMBs is the lack of seamless accounting solutions integrated into their core business platforms. Teal aims to bridge this gap by equipping companies with the necessary APIs and tools to build their own accounting offerings. This enables SMBs to access crucial insights such as real-time cash flow, per-product profitability, and streamlined tax filing processes.

Teal’s comprehensive suite of out-of-the-box tools enables Vertical SaaS companies to launch their accounting platforms swiftly, often in as little as four weeks. These tools include fully functioning app code repositories and seamless data integrations with external sources like Plaid, enhancing the overall user experience for SMBs.

According to Ian Crosby, Co-Founder and CEO of Teal, the company’s vision is to become the “Stripe for accounting,” providing the foundational infrastructure for Vertical SaaS companies to embed accounting features seamlessly. By integrating accounting software directly into their platforms, businesses can enhance customer engagement and drive adoption of financial services features.

The significance of Teal’s innovative approach has not gone unnoticed in the investment landscape. Torch Capital, a leading investor in tools and platforms for SMBs, led the recent $8 million seed funding round. Partner Katie Reiner expressed enthusiasm for Teal’s mission to revolutionize the SMB accounting space, citing the dire need for intuitive and streamlined accounting tools.

In an era where embedded finance is gaining traction, Teal’s commitment to offering tailored accounting solutions signifies a promising step towards empowering SMBs with the financial tools they need to thrive in today’s competitive landscape.

Source: fintech.global

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