The North American loyalty management market is predicted to grow considerably at a CAGR of 13.1% during the forecast period. The significant presence of major retailers in the country along with the high adoption rate of advanced technologies in the region is primarily driving the regional market growth. Besides, significant growth in the digitalization in the BFSI industry in the US is further anticipated to drive the demand for loyalty management in the region. In 2018, finance and insurance represented 7.4% (or $1.5 trillion) of the US GDP as per the SelectUSA.gov. As of 2018, Fortune’s Global 500 listing was selected to locate its headquarters in the US to take advantage of its competitive, creative and comprehensive financial services sector. The high adoption of e-banking, mobile wallet, and the cashless transaction are the key factors that are contributing to the digitalization of the US BFSI industry. The high digitalization in the US BFSI sector is further expected to drive the growth of this regional market
The North American loyalty management market covers segments including type and end-user industry. Based on type, the market is segmented into customer loyalty, employee loyalty, and channel loyalty. Based on end-user industry, the market is segmented into BFSI, travel & hospitality, retail, and other. Retail segment held major market share in 2020. With ever increasing competition the retailers started implementing advanced tools & tactics to improve their customer experience. Therefore, the high competitiveness in the organized retail sector is a key contributor to the high share of this market segment.
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North American Loyalty Management Market Segmentation
By Type
- Customer Loyalty
- Employee Loyalty
- Channel loyalty
By End-User Industry
- BFSI
- Travel & Hospitality
- Retail
- Other
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Regional Analysis
North America
- United States
- Canada
Company Profiles
- Aimia Inc.
- AiTrillion, Inc.
- Apex Loyalty
- Blue Ocean Contact Centers Inc.
- Bond Brand Loyalty Inc.
- Capillary Technologies Inc.
- Clutch Holdings LLC
- Epsilon Data Management LLC
- Fivestars Loyalty, Inc.
- Goody Inc.
- IBM Corp.
- ICF Inc.
- Kobie Marketing Inc.
- Oracle Corp.
- SAP SE
- Tibco Software Inc.
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