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Loyalty Management Market worth $25.4 billion by 2029- Exclusive Report by MarketsandMarkets™
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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BBVA makes $13bn hostile takeover bid for Banco Sabadell
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Mastercard and Kima take one step closer to a ‘DeFi credit card’
Kima, the asset-agnostic, peer-to-peer money transfer and payment protocol, joins the FinSec Innovation Lab, a fintech and cybersecurity accelerator by Mastercard, and receives a grant from the Israel Innovation Authority (IIA) to fund an initiative to connect decentralized finance (DeFi) applications with fiat systems. The collaboration between Kima and FinSec focuses on developing a use case linking traditional financial instruments, such as bank accounts and credit cards, to DeFi protocols, platforms, and services.
Decentralized finance has been recognized for its creativity in applying innovative financial instruments through blockchain and digital assets. However, technical, financial, and regulatory red tape cause blockchain protocols to remain isolated—turning DeFi apps into fragmented liquidity silos locked within the boundaries of the host network and smart contracts. Furthermore, the absence of a convenient bridge between DeFi and mainstream financial systems contributes to a poor and complicated user experience.
Kicking off in late 2023, the grant powers Kima and FinSec to utilize its infrastructure to explore and develop methods to easily link everyday bank accounts and credit cards to a wide range of DeFi tools. The collaboration aims to expand on Kima’s existing payment protocol—which facilitates direct money transfers via blockchain and bank accounts without using smart contracts.
As part of the project, FinSec will operate a Kima node and serve as a key stakeholder in its burgeoning cross-ecosystem network. FinSec’s participation in the network further bolsters Kima’s payment protocol and expansive settlement layer ahead of its upcoming token and mainnet launches slated for Q2 of 2024.
Kima’s settlement layer is built to handle wide-ranging applications including cross-border transfers, crypto payment rails, DeFi borrowing and lending, gaming, RWA marketplaces, wallets, and exchanges.
“Kima and FinSec are embarking on an exciting journey together—one which we are confident will lead to major breakthroughs in how people interact with DeFi,” says Eitan Katz, CEO and Co-Founder of Kima. “The only way blockchain and DeFi will become fixtures outside the niche world of Web3 is if there is an easily accessible, secure, and affordable way to bridge blockchain networks with traditional financial means. The Israel Innovation Authority and Mastercard recognize the value and potential of our vision, and we are proud to have their support.”
“We are delighted to have Kima as a startup in the FinSec Lab and to support the initiative to seamlessly connect decentralized finance (DeFi) applications with fiat systems. We are thrilled to see Eitan and his team’s development and happy to see the success of their innovative solutions,” says Sidney Gottesman, CEO of FinSec.
The post Mastercard and Kima take one step closer to a ‘DeFi credit card’ appeared first on HIPTHER Alerts.
Latest News
Repurchases of shares by EQT AB during week 19, 2024
STOCKHOLM, May 13, 2024 /PRNewswire/ — Between 6 May 2024 and 10 May 2024 EQT AB (LEI code 213800U7P9GOIRKCTB34) (“EQT”) has repurchased 348,028 own ordinary shares (ISIN: SE0012853455).
The repurchases form part of the repurchase program of a maximum of 2,154,000 own ordinary shares for a total maximum amount of SEK 1,000,000,000 that EQT announced on 22 April 2024. The repurchase program, which runs between 23 April 2024 and 24 May 2024, is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052.
EQT ordinary shares have been repurchased as follows:
Date: |
Aggregated daily volume (number of shares): |
Weighted average share price per day (SEK): |
Total daily transaction value (SEK): |
6 May 2024 |
94,658 |
306.0825 |
28,973,157.29 |
7 May 2024 |
105,000 |
314.1288 |
32,983,524.00 |
8 May 2024 |
50,000 |
312.3432 |
15,617,160.00 |
10 May 2024 |
98,370 |
324.6684 |
31,937,630.51 |
Total accumulated over week 19/2024 |
348,028 |
314.6628 |
109,511,471.79 |
Total accumulated during the repurchase program |
1,084,806 |
302.8600 |
328,544,347.36 |
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB on behalf of EQT.
Following the above acquisitions and as of 10 May 2024, the number of shares in EQT, including EQT’s holding of own shares is set out in the table below.
Ordinary shares |
Class C shares1 |
Total |
|
Number of issued shares |
1,245,048,412 |
881,555 |
1,245,929,967 |
Number of shares owned by EQT AB2 |
61,559,635 |
– |
61,559,635 |
Number of outstanding shares |
1,183,488,777 |
881,555 |
1,184,370,332 |
1) Carry one tenth (1/10) of a vote.
2) EQT AB shares owned by EQT AB are not entitled to dividends or carry votes at shareholders’ meetings.
A full breakdown of the transactions is attached to this announcement.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/eqt/r/repurchases-of-shares-by-eqt-ab-during-week-19–2024,c3977933
The following files are available for download:
EQT – Repurchases of shares – weekly press release w19 |
|
EQT AB Group |
|
https://mb.cision.com/Public/87/3977933/8afe31413410cf31.pdf |
EQT Transactions w 19 |
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