Email Marketing Software Market Statistics, 2031
The global email marketing software market was valued at $1.2 billion in 2021, and is projected to reach $3.3 billion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.
Surge in need for inexpensive digital advertising and expanding popularity of targeted and personalized marketing are important factors influencing the development of the global email marketing software market. In addition, rise in the utilization of artificial intelligence and digitization has contributed toward the growth of the market. Despite the low cost of email marketing software, ineffective email delivery will limit industry growth. On the other hand, the use of automated email marketing software applications is projected to create a lucrative market potential during the forecast period.
Email marketing software is service-based software that marketing companies use for online marketing, branding and campaigns. This software is utilized for numerous aspects, such as generating an email subscriber list, designing and building unique email templates, and segmenting audiences to send more focused, appropriate emails. The software provides advertisers considerably additional flexibility than just sending emails by providing a wide range of services, resources, and capabilities.
Business-to-business (B2B) email marketing is the process of using email marketing between two businesses or clients. B2B channel of email marketing software dominates as more than 70% email marketing truncation is observed between B2B channels.B2B email marketing aims to strengthen brand recognition among businesses, enhance customer conversion for B2B management corporations, and create awareness of the value of the product or service. The business-to-business email marketing software market share is further segregated into small & medium enterprises (SMEs) and large enterprises.
Several businesses prefer cloud-based email marketing software because it is affordable and available 24*7. The deployment of cloud-based email marketing software have been economical for various small as well as large businesses. The cloud-based deployment is also economical since it gives the service user the option to pay only for the tools they actually use and is available 24*7. As a result, many end users utilize cloud-based email marketing software since it requires minimal configuration, maintenance, and back-end support.
Many industries, including BFSI, retail, healthcare, and travel agencies, employ email lead generating applications to collect customer names and mailing addresses. The use of email lead generation enables businesses to automate the steps involved in email marketing campaigns, organize and categorize email lists for targeted delivery, create emails with a tailored presentation and engaging content, track emails and provide reports on metrics and marketing outcomes. The service user may get accurate customer data with the application of this type of email marketing software to boost sales revenue.
Email marketing software are crucial for achieving digital business success. The benefits of implementing effective email strategies are massive, as it allows developing brand awareness, building credibility, and establishing trustworthy relationships with the customer. Rise in awareness about artificial intelligence, reporting & analytics and digitalization is fueling the adoption of email marketing software in the retail & consumer goods industry.
Region-wise, the email marketing software market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America, specifically the U.S., remains a significant participant in the global email marketing software industry.
North America dominates this market due to rise in prevalence of the use of active mail for business, commerce, and personal communication. Since then, email marketing platforms have been used by regional key players to enhance their advertising campaigns. The existence of a sizable number of small and medium-sized firms has also supported market expansion. For instance, Constant Contact, Inc., Benchmark Internet Group, ConvertKit LLC, Jivox Corporation, Salesforce, Hubspot Inc., and other service providers in the U.S. and Canada. Therefore, aforementioned factors have assisted North America to dominate email marketing software market.
TOP IMPACTING FACTORS
Significant factors that impact the growth of the global email marketing software industry include growing demand for s cost-effective digital advertisement and rising prevalence for targeted and personalized advertisement. Moreover, growing dependency on artificial intelligence and digitalization drives the market growth. Even though, email marketing software is inexpensive, poor email delivery will constrain market expansion. On the contrary, adoption of automated email marketing software applications is anticipated to provide lucrative market opportunities for the email marketing software market growth during the forecast period.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major email marketing software market players, such as Aweber Communications, Benchmark Internet Group, Campaign Monitor Pty Ltd., Constant Contact, Inc., ConvertKit LLC, HubSpot, Inc., Intuit Inc. (Mailchimp), Jivox Corporation, Salesforce.com, Inc. and Zoho Corporation are provided in this report.
Key Benefits for Stakeholders
This study comprises analytical depiction of the email marketing software market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall email marketing software market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current email marketing software market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and email marketing software market trends.
Email Marketing Software Market Report Highlights
| Aspects | Details |
 By Channel |
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 By Deployment Model |
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 By Application |
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 By End Use Vertical |
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 By Region |
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 Key Market Players | Campaign Monitor Pty Ltd., ConvertKit LLC, Intuit Inc., Benchmark Internet Group, Salesforce.com, Inc., Jivox Corporation, Constant Contact, Inc., HubSpot, Inc., Zoho Corporation., AWeber Communications |
Analyst Review
The application of email to marketing campaigns with the goal of increasing client loyalty and promoting a company's goods and services. Customers on an email list can be informed about new products, deals, and other services through email marketing. Furthermore, rise in prevalence for targeted and personalized advertisement and growing dependency on artificial intelligence and digitalization drives the growth of the email marketing software market.
The email marketing software market is highly competitive, owing to the strong presence of existing service providers. Email marketing software service-providers, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key players.
Surge in demand for customized and automated email marketing campaigns globally is driving the need of email marketing software applications such as event triggered mails and push notification. Moreover, prime economics, such as the U.S., UK, China, Germany, and Japan, plan to develop and deploy artificial intelligence generated email marketing software solutions across various sectors. For instance, on September 2020 Mailchimp, a provider of email marketing software, modified its advertising platform by introducing powerful AI-based automated email marketing capabilities. Business owners may create graphic assets and subject lines with the use of AI-based technology to elevated connections with consumers and the firm, which is anticipated to provide lucrative opportunities for the market growth.
Among the analyzed regions, North America exhibits the highest adoption rate of email marketing software and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as China, Japan, and India, investing in these technologies. Regions, such as the Middle East and Africa, are also expected to offer new opportunities in the Email Marketing Software market in future.
Globally, large number of small sized service providers in regional levels are further facilitating growth of market in terms of supply side driver. Email marketing is utilized by small businesses to close deals with potential consumers, increase referrals, upgrade to existing clients, and even reactivate clients who have not made a purchase in frequently. Therefore, small and medium-sized enterprises using cost-effective digital strategies has driven the demand for email marketing software. All these developments across Email Marketing Software showcase lucrative growth opportunities for the market growth.
The key players profiled in the report include Aweber Communications, Benchmark Internet Group, Campaign Monitor Pty Ltd., Constant Contact, Inc., ConvertKit LLC, HubSpot, Inc., Intuit Inc. (Mailchimp), Jivox Corporation, Salesforce.com, Inc. and Zoho Corporation.
Currently, Zoho Corporation Pvt. Ltd., Salesforce, Inc., Benchmark Internet Group, AWeber Communications and Intuit Inc. are some of the leading players in the global email marketing software market.
The market has grown as a result of increased use of digitalization and artificial intelligence. Additional factors supporting the growth of the global email marketing software market include rise in need for cost-effective digital advertising and surge in acceptance of targeted and personalized marketing.
$3,321.2 million by 2031,is the estimated industry size of email marketing software market.
The rise in use in automated email marketing communication across education, BFSI, retail and travel & tourism sector is anticipated to drive the growth of the market during the forecast period.
North America, specifically the U.S., remains a significant participant in the global email marketing software industry.
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