PUBLISHER: KBV Research | PRODUCT CODE: 1184302
PUBLISHER: KBV Research | PRODUCT CODE: 1184302
The Global Email Marketing Software Market size is expected to reach $2.2 billion by 2028, rising at a market growth of 10.6% CAGR during the forecast period.
Email marketing software is a service-based product that marketing firms use for campaigns, branding, and internet marketing. This program is used for many things, including constructing unique email templates, segmenting audiences to send more targeted, pertinent emails, and creating an email subscriber list.
By providing a broad range of services, resources, and capabilities, the program gives advertisers much more flexibility than merely sending emails. New strategies for marketing to boost brand presence are emerging due to the increase in digitalization and internet users. The use of the internet has significantly increased globally during the last several years.
One of the quick and simple ways to quickly reach a broader audience is through mail marketing. The market strategies are evolving along with digitalization, supporting Email marketing market trends across many industries. Sending emails to people for marketing purposes is one aspect of email marketing.
Planning, observing, and arranging marketing efforts benefits the organization. In addition, knowing the audience's preferences aids in generating more leads. In the anticipated time range, the market will see new opportunities due to the increasing awareness of the benefits of automated email across businesses.
The growing emphasis on promotional emails, such as welcome arrangement emails, sustain setup emails, birthday or commemoration emails, or client series emails, given by email software automation, will significantly impact the market in the coming years. The expansion of the email marketing software market will be supported by large firms putting more emphasis on enhancing customer interactions through the use of email marketing.
COVID-19 Impact Analysis
This program is recognized as an essential communication tool during the COVID-19 pandemic. The global pandemic brought on changes in activities such as product launches, advertising, promotions, marketing, and media spending. During the pandemic, nations like the United States, United Kingdom, Germany, Russia, Canada, China, Japan, and India actively boosted the influence of email marketing technologies. As a result, the market has experienced an upsurge in demand during the COVID-19 pandemic.
Market Growth Factors
The Emergence of Integrated Software Based on Artificial Intelligence
Email marketing benefits from artificial intelligence (AI) include automation, personalization, increased conversion rates, and data analysis. As a result, email marketers are increasingly incorporating AI into their campaigns. Additionally, this technology has made it easier for machines to evaluate, comprehend, and process information by streamlining the email marketing process to optimize returns and minimize fault lines. As a result, the use of AI in email marketing is fueling the market for email marketing software.
High Demand for Cost-Effective Campaign Production
Due to the lack of costs connected with printing, advertising, or media space, email marketing is less expensive than traditional forms of marketing. By grouping customers into lists according to their interests, it helps give better information. Email marketers may quickly brand their emails by using these tools. It is used to produce emails that continuously supply their users with educational content. Therefore, it is anticipated that the market will experience profitable expansion due to the rising need for cost-effective campaigns.
Market Restraining Factors
Lower Email Delivery Success Rate and Spam Threats to Prevent Product Acceptance
The proportion of emails sent to recipients' inboxes to the total number of emails sent by the sender is known as the delivery rate. Therefore, customers worry about email delivery speed when using their email marketing platform. Therefore, the factors above may limit the expansion of the email marketing software market over the anticipated year.
Based on Channel, the Email Marketing Software Market is divided into Business to Business and Business to Customers segments. The Business to Business market sector produced the highest revenue share in 2021. B2B email marketing is the practice of employing email marketing between two clients or businesses. More than 70% of email marketing truncation is seen between B2B channels; hence B2B channels lead the email marketing software industry.
Deployment Model Outlook
Based on Deployment Model, the Email Marketing Software Market is classified into On-premises and Cloud based on Deployment Model. The On-Premise category displayed the market's substantial revenue share in 2021. On-premise refers to installing email marketing software on a server at the sender's or colocation facility. This is popular among businesses that want to keep as many of their computer activities hidden behind their firewall as feasible. Companies that need to keep track of their mailings are also fond of it.
Based on Application, the Email Marketing Software Market is classified into Email Lead Generation, Customer Management, Sales Reporting, Template Management, Reporting & Analytics, and Others. Customer Management is tracking a positive growth rate throughout the projected period. A planned approach to customer management can increase sales and cultivate long-lasting customer connections. Campaign management technologies like CRM and others are often used to develop customer relationships. It is easier to handle customers at scale when major firms employ CRM systems to gather, store, and organize customer data.
Based on Vertical, the market is classified into BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare, Travel & Transportation, Education, Media & Entertainment, and Other segments. In 2021, BFSI had a significant revenue portion of the market. The email marketing platforms have demonstrated a strong revenue impact through client retention, conversion, activity, and sales. Several institutions have already implemented email solutions specifically designed for scaling rapidly and intelligently. Compared to other channels, customers trust the preferred method of communication the most.
Based on geography, the Email Marketing Software Market is classified into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America dominated the market with largest revenue share. Due to the increased usage of active mail for business, trade, and personal communication. Since then, major regional players have employed email marketing systems to improve their advertising operations. In addition, many small and medium-sized businesses have contributed to market expansion.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Intuit, Inc., HubSpot, Inc., Benchmark Internet Group, LLC (Polaris Software, LLC), CM Group (Campaign Monitor), Zoho Corporation Pvt. Ltd., ConvertKit LLC, AWeber Systems, Inc., Jivox Corporation, and Martal Group.
Strategies Deployed in Email Marketing Software Market
Feb-2021: Benchmark Email took over Contacts+, a contact management app for professionals, teams, and small businesses. Through this acquisition, the company would open the opportunity to broaden contact management tools to small enterprises and combine them with Benchmark's portfolio of products, BenchmarkONE CRM and Benchmark Email.
Oct-2021: CM Group combined with Cheetah Digital, a customer engagement solution provider for the modern marketer. This merger would broaden and improve both companies' potential to provide advanced omnichannel, loyalty, email, and personalization solutions. Additionally, the merged company would own a wide range of technologies referenced in the 2021 Gartner Magic Quadrant for Multichannel Marketing Hubs, which arranges marketer communications with client segments over various channels.
Oct-2019: Campaign Monitor, a subsidiary of CM Group released CM Commerce, an email marketing tool for growing retail businesses. This product is created for retail enterprises engaged in boosting their growth by utilizing advanced email marketing.
Jan-2019: Campaign Monitor, a subsidiary of CM Group acquired Sailthru, an advertising services provider, and Liveclicker, a technology, information, and internet company. Through this acquisition, the Campaign Monitor would be able to offer solutions to the marketers with the most suited solutions for their requirements as they navigate the miscellaneous and quickly transforming environments in which they operate.
Apr-2021: ConvertKit completed the acquisition of FanBridge, an email marketing platform for musicians. Through this acquisition, the integrated platform would benefit musicians along with creators to increase the fan base and connect with them directly through selling and emailing digital products and services to obtain an income.
Feb-2021: HubSpot took over The Hustle, the business, and tech media company. Under this acquisition, the company would meet the demands of growing companies by providing tech, Technology, and education in the required format.
Nov-2021: Intuit acquired Mailchimp, a customer engagement and marketing platform for growing small and mid-market businesses. Through this acquisition, companies would work to provide a consumer growth platform for small and mid-market businesses, enabling them to get their business online, manage customer relationships, get paid, access capital, and market their business.
Jul-2021: Salesforce acquired Slack Technologies, Inc., the leading channel-based messaging platform. Under this acquisition, companies would work on the future of enterprise software and build a digital HQ to allow all organizations to provide employee and consumer success even through remote places.
Oct-2018: Salesforce acquired Rebel, a company engaged in developing interactive email services for businesses. This acquisition would improve their direct marketing services. Additionally, Rebel would improve the strength of Salesforce Marketing Clod and fundamentally transform the way people communicate through email.
Apr-2019: Zoho released Zoho MarketingHub, marketing automation software for crafting unique customer experiences. This newly launched product would allow the website owner to know the reason people visit the website and the status of the leads. Additionally, this would help in knowing about the returns through successful campaigns.
Market Segments covered in the Report:
By Deployment Model
Unique Offerings from KBV Research
List of Figures