MarketsandMarkets forecasts the global loyalty management market size to grow from USD 7.6 billion in 2020 to USD 15.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.3% during 2020 –2025. The significant growth in smartphone technology and its increasing usage across the globe are expected to drive the market.
Loyalty management is a series of activities to acquire, engage, and retain stakeholders to strengthen relationships with customers and other stakeholders. Loyalty programs are designed for providing an interactive environment between a business organization, its customers, employees, and channel partners (distributors, resellers, among others). Loyalty management is one of the key application areas across verticals, such as automotive, retail, banking and financial services, healthcare, and telecommunication.
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In the loyalty management market, the key and emerging market players include Aimia (Canada), Annex cloud (US), Apex Loyalty (US), Apptivo (US), Bond Brand Loyalty (Canada), Brierley+Partners (US), Capillary (Singapore), Comarch (Poland), Epsilon (US), FiveStars (US), Hashtag Loyalty (India), ICF Next (US), Kangaroo (Canada), Kobie Marketing (Russia), Loyalty Gator (Canada), LoyaltyLion (England), Maritz Motivation (US), Merkle (US), Oracle (US), Smile.io (Canada), SpotOn (US), TIBCO (US), Yotpo (US), SailPlay (US), Lacek (US), and Paystone (UK) These players have adopted various strategies to grow in the global loyalty management market.
Aimia (Canada) offers 3 types of loyalty management solutions: Aimia loyalty platform – SaaS, Aimia loyalty platform – Enterprise, and Professional services. The loyalty units segment brings together the strategy and solutions business for individual clients, particularly platform-based business with products. The company operates globally through its subsidiaries, such as Aimia Canada Inc. (Canada), Smart Button Associates Inc. (US), Nectar Italia (Italy), Aimia Loyalty Analytics UK Limited (UK), Aimia Proprietary Loyalty (HK) Limited (Hong Kong), Aimia Proprietary Loyalty Australia Pty Ltd. (Australia), among others. Aimia has adopted systematic approach toward strengthening its loyalty management capabilities. In November 2018, Aimia signed an agreement with Air Canada for the purchase of the Aeroplan Loyalty Business to improve the customer retention of Air Canada with the help of Aimia loyalty platform and services.
Bond Brand Loyalty (Canada) is using inorganic growth strategies to grow its share in the market. It’s loyalty management portfolio includes the following platform and services such as Synapze loyalty and employee experience platform based on AI and ML. to provide a personalized experience, loyalty consulting and management solution, customer genome model for predictive and prescriptive insights, channel and employee engagement solutions. In February 2020, Bond Brand Loyalty has acquired Atlanta-based rDialogue, a customer marketing firm to accelerate the company’s growth strategy and expanded offerings. The merger will enable the firm to expand its consulting and advisory capabilities and deliver transformative growth for its clients. In May 2018, Bond Brand Loyalty partnered with Buljan and Partners to expand its global presence by delivering transformative customer engagement solutions. The partnership has enabled the firm to create a strong presence on a global scale.
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