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 Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 23.5% |
| 2029 Value Projection | USD 24.44 billion |
| Base Year | 2021 |
| Loyalty Management Market Size in 2021 | USD 4.54 billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 150 |
| Segments covered | Component, Deployment, Enterprise Size, End-user and Geography |
| Loyalty Management Market Growth Drivers | Growing 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.