Chicago, May 07, 2024 (GLOBE NEWSWIRE) -- The loyalty management market is projected to grow from USD 11.4 billion in 2024 to USD 25.4 billion by 2029 at a CAGR of 17.3% during the forecast period, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Loyalty Management Market" 326 - Tables 47 - Figures 275 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=172873907 Loyalty Management Market Dynamics: Drivers: Growing focus on reducing customer churn rates Integration of gamification into loyalty programs Companies and strategic investment in loyalty programs amid recession and inflation Emergence of loyalty management mobile applications Demand for advanced solutions to monitor customer scores and enhance customer engagement Rising adoption of omnichannel customer loyalty strategies Restraints: Fragmentation of customer data across various systems and platforms Stringent government regulations Opportunities: Increasing investments in loyalty system technologies Surging investments in customer success startup platforms Rising applications of big data and machine learning List of Key Players in Loyalty Management Market Epsilon Oracle Comarch ICF Next Bond Brand Loyalty Merkle  Capillary Jakala Kobie Giift Management The notable shift towards personalization is significantly driving the growth of loyalty management market. Today's consumers increasingly expect customized experiences that align with their preferences and behaviors. Loyalty management solutions utilize sophisticated data analytics and segmentation techniques to deliver personalized offers, rewards, and content tailored to each individual customer. This personalized approach not only boosts customer satisfaction and engagement but also cultivates a stronger sense of loyalty and connection to the brand. Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=172873907 Moreover, advancements in technology like artificial intelligence (AI) and machine learning have transformed loyalty management capabilities, empowering businesses to analyze extensive customer data in real-time and extract actionable insights to enhance their loyalty strategies. The solution segment is expected to hold the largest market size during the forecast. Loyalty management solutions empower businesses to segment their customer base, personalize interactions, and deliver targeted rewards and incentives tailored to individual preferences by leveraging advanced analytics, data-driven insights, and automation capabilities. They also gather data from customer engagement surveys to provide detailed performance metrics. Retailers can use this software as a CRM system or Customer Data Platform (CDP) in addition to the loyalty functionality. Loyalty management solutions allow customers to use their rewards through any channel. The software provides ...