THANK YOU FOR SUBSCRIBING
Construction Tech Review | Monday, January 18, 2021
The Asia-Pacific loyalty management market value is likely to reach a value of USD 2,297.3 million in the coming years. Numerous firms are inculcating Loyalty management solutions across various industry verticals.
FREMONT, CA: A couple of years ago, the Asia-Pacific loyalty management market which was worth USD 592.3million, is predicted to be worth USD 2,297.3 million by 2024, representing a CAGR of 25.1 per cent over the forecast period. Many firms across numerous industry verticals are using loyalty management systems, with the primary goal being client retention and the development of long-term customer connections. Loyalty management is a strategic approach to product marketing in which a firm focuses on attracting new consumers and retaining existing ones through various forms of incentives and offers. Slight differences in financial services and products might matter in highly competitive, complicated, and dynamic banking businesses. In exchange for trusted and profitable relationships, most banks strive to be their customers' "ideal" bank. This, combined with an ever-demanding consumer base, has ushered in a shift in the industry toward the use of loyalty management solutions.
In the Asia-Pacific area, there is also cooperation in the creation of cross-industry reward programs, with the banking sector seeing growing acceptance of loyalty programmes. For example, OCBC Bank and StarHub are working together to build Singapore's loyalty alliance, which will allow Singaporeans to interchange, consolidate, and redeem loyalty awards such as reward points and air miles acquired from industry-leading partners. Since there are so many large and small companies in the Asia-Pacific loyalty management industry, it is highly competitive. The competitors in the market employ techniques such as product innovation, collaborations, and mergers and acquisitions. IBM Corporation, Oracle Corporation, SAP SE, and Edenred are among the market's top participants.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
NTTCom Online is projected to become TIBCO's preferred partner in Japan as a result of this arrangement, taking over responsibility for all sales and client support efforts for TIBCO's Japanese business. SAP purchased Qualtrics International Inc., a developer of customer relationship management solutions. This partnership propels the experience management category forward by merging Qualtrics data with operational data from SAP software. Both companies are providing organisations with the tools they need to provide outstanding customer, product, employee, and brand experiences.
Check Out This: Hydrosat
More in News
Copyright © 2026 All Rights Reserved | by: Construction Tech Review
| Subscribe | About us | Sitemap| Newsletter| Editorial Policy| Feedback Policy