Albany, NY -- (SBWIRE) -- 09/24/2018 -- The global Loyalty Management market is expected to grow at a significant rate during the forecast period from 2017 to 2025.Loyalty management deals with designing of rewards to consumers for past purchase as well as provides them incentives with an objective to make future purchase. Rewards program aims at providing strong value to the customers followed by improved customer penetration, cross selling and retention. A loyalty management system consists of operational parameters which include funding options, program design and transaction types among others.
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Global Loyalty Management market has been segmented on the basis of solution, organizational size, deployment type and end user industry. On the basis of solution, the market is segmented into employee retention, customer loyalty and channel loyalty. By organizational size, the market has been segmented into small, medium and large enterprises. In terms of deployment type, the market is segmented into on demand and on-premises. End user industry segment is further segregated into Banking, Financial Services and Insurance, IT and Telecom, healthcare, manufacturing and hospitality among others. Growing need for competitive differentiation to expand market share is one of the important driver expected to boost the demand of global Loyalty Management market during the forecast period. Growing number of cardholders and use of rewards points as cash followed by significant rise in mobile technology are other factors expected to augment the demand of global Loyalty Management market during the forecast period.
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