Loyalty Management Market Worth USD 24.44 Billion by 2029

According to Fortune Business Insights, the global Loyalty Management Market size is projected to reach USD 24.44 Billion in 2029, at a CAGR of 23.5% during the forecast period. Rising Consumer Demand for Personalized Solutions to Fuel Market Expansion.

Pune, India, June 27, 2022 (GLOBE NEWSWIRE) 

The global loyalty management market size is predicted to hit USD 24.44 billion by 2029 and exhibit a CAGR of 23.5% during the forecast period. Loyalty management software help businesses and merchants in customer retention by analyzing their purchase patterns and historical data. They help in the wealth generation, sales, and growth of businesses across the entertainment, media, retail, and other industries. The rising demand for personalized solutions is likely to be a key factor flourishing the market growth. Fortune Business Insights has presented this information in its report titled,“Loyalty Management Market, 2022-2029”. The market size stood at USD 4.54 in 2021 and USD 5.57 billion in 2022.

Key Industry Development

June 2021: Antavo Limited extended its partnership with Axciom and Mullen Lowe Profero to offer loyalty programs.

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Report Scope & Segmentation

Report CoverageDetails
Forecast Period2022 to 2029
Forecast Period 2022 to 2029 CAGR23.5%
2029 Value ProjectionUSD 24.44 billion
Base Year2021
Loyalty Management Market  Size in 2021USD 4.54 billion
Historical Data for2018 to 2020
No. of Pages150
Segments coveredComponent, Deployment, Enterprise Size, End-user and Geography
Loyalty Management Market  Growth DriversGrowing Customer Preference for Personalized Solutions to Push Market Growth
Stringent Government Regulations May Affect the Adoption of Loyalty Programs

The dynamic alteration in consumer behavior has significantly aided the market’s development. A huge shift toward online shopping due to movement restrictions and strict lockdowns amplified the demand for the software. Many businesses switched to online sales to cater to the altering market dynamics. The market is likely to witness monumental growth in the coming years.