The Market Reports

Synopsis
The global market for Rewards and Incentives Service was estimated to be worth US$ 4632 million in 2024 and is forecast to a readjusted size of US$ 8345 million by 2031 with a CAGR of 8.9% during the forecast period 2025-2031.
Rewards and incentives services providers typically have partnerships with a variety of online retailers, restaurant chains, travel agencies, or other entertainment companies, and resell or manage the distribution of corresponding credits. Operations teams utilize reward and incentive services to boost team morale, show appreciation for hard work, and provide gifts for holidays and special occasions. Customer accounts are often tracked and managed through online portals, where incentives can be purchased and delivered using a simple interface. Businesses can use performance management software to help identify standout employees and work performance situations that demand special attention.
Rewards and Incentives Service is mainly classified into the following types: Digital Rewards and Rewards in Kind. Digital Rewards is the most widely used type which take up about 92% of the sales share. Rewards and Incentives Service has wide range of applications, like For Employees and For Customers. And For Employees is the most widely used area which take up about 66.1% of the sales colume. North America is the largest region of Rewards and Incentives Service in the world in the past few years and it will keep increasing in the next few years. Europe market took up about 26% the global market, while APAC is about 15.8%. Blackhawk Network, InComm, Square, Online Rewards, Xoxoday, etc. are the key providers in the global Rewards and Incentives Service market. Top 5 providers took up more than 34% of the global market size.
Rewards and Incentives Service Market Drivers
1. Increasing Focus on Customer Retention
Acquiring new customers is more expensive than retaining existing ones. Rewards and incentives services help businesses build customer loyalty by offering points, discounts, and exclusive perks, encouraging repeat purchases and long-term engagement.
2. Rising Demand for Personalized Customer Experiences
Modern consumers expect personalized experiences tailored to their preferences. Rewards and incentives services leverage data analytics to deliver customized offers and rewards, enhancing customer satisfaction and driving brand loyalty.
3. Growth of E-Commerce and Digital Payments
The rapid expansion of e-commerce and digital payment platforms has created opportunities for rewards programs. Businesses are integrating rewards and incentives into online shopping experiences to attract and retain digital-savvy customers.
4. Employee Engagement and Retention
Companies are increasingly using rewards and incentives to boost employee morale, productivity, and retention. Employee recognition programs, performance-based bonuses, and wellness incentives are becoming essential tools for fostering a positive workplace culture.
5. Adoption of Gamification Strategies
Gamification, which incorporates game-like elements into non-game contexts, is being widely adopted in rewards and incentives programs. This approach makes engagement more interactive and enjoyable, driving higher participation rates among customers, employees, and partners.
This report aims to provide a comprehensive presentation of the global market for Rewards and Incentives Service, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Rewards and Incentives Service by region & country, by Type, and by Application.
The Rewards and Incentives Service market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Rewards and Incentives Service.
Market Segmentation
By Company
BHN Rewards (formerly Rybbon)
Tremendous
BHN (Tango Card)
Xoxoday
Giftbit
BHN (Blackhawk Network)
First Data (Gyft)
eGifter
Global Reward Solutions
Gravy Gifts
Square
Giftogram
Knowband
Self-Service Networks
360insights
Segment by Type
Digital Rewards
Rewards in Kind
Segment by Application
For Employees
For Customers
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Rewards and Incentives Service company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Rewards and Incentives Service in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Rewards and Incentives Service in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index