Pune, India, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global email marketing software market size was USD 1.15 billion in 2021. The market is expected to expand from USD 1.26 billion in 2022 to USD 2.76 billion in 2029, exhibiting a CAGR of 11.8% from 2022 to 2029. The growth can be attributed to the increasing initiatives of companies for expanding their customer base.
This information is provided by Fortune Business Insights™ in its research report, titled “Email Marketing Software Market Share, 2022-2029”.
Market Expansion Driven by Surging Demand from Various Industries
The adoption of work from home culture amid the COVID-19 pandemic led to an increasing demand for integrated email marketing solutions. Several companies installed a range of software solutions for the evaluation of customer communication. Further, various private and government organizations implemented this software, propelling industry expansion to a considerable extent.
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| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 11.8% |
| 2029 Value Projection | USD 2.76 billion |
| Base Year | 2021 |
| Email Marketing Software Market Size in 2021 | USD 1.15 billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 170 |
Segments:
B2B Segment to Gain Traction Owing to Increasing Product Adoption
On the basis of channel, the market is segmented into business-to-customers (B2C) and business-to-business (B2B). The B2B segment is slated to record lucrative growth over the estimated period driven by rising product adoption.
Cloud Segment to Record Notable Growth Owing to Heavy Investments
On the basis of deployment, the market is fragmented into on-premise and cloud-based. The cloud-based segment is expected to expand at a substantial rate throughout the study period. The surge can be attributed to the capability of cloud model for the upgrade of storage and processing capacity.
Email Lead Generation Segment to Register Appreciable Rise Due to Numerous Features
Based on application, the market is categorized into customer management, sales reporting, email lead generation, reporting and analytics, template management, and others. Of these, the email lead generation segment is set to depict a notable surge over the analysis period. The growth can be credited to various features such as high customer engagement and customer retention rate.
SMEs Segment to Register Considerable Expansion Driven by Growing Adoption for Customer Acquisition
On the basis of enterprise size, the market for email marketing software is divided into Small & Medium Enterprises (SMEs) and large enterprises. The SMEs segment is estimated to record notable growth throughout the forecast period. The escalation is being impelled by the rising product adoption for customer acquisition.
Healthcare Segment Projected to Hold the Highest CAGR in the Forecast Period
Based on industry, the market is bifurcated into Banking, Finance, Security, and Insurance (BFSI), IT & telecommunication, retail, Information Technology-enabled Service (ITeS), healthcare, consumer goods, travel and transportation, and others. With growing technological advancements, healthcare is shifting toward offering enhanced medical services to its patients and is expected to grow at the highest CAGR over the forecast period.
Based on region, the market is classified into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa
Report Coverage:
The report provides an in-depth analysis of the major factors propelling industry expansion over the estimated period. It further gives an insight into the significant trends impelling the business landscape across various regions. Some of the other insights include the critical steps taken by major industry participants for the consolidation of market position.
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Drivers and Restraints:
Market Share to Rise Due to Increasing Demand for Cost-effective Campaigns
The email marketing software market growth is being impelled by the surging product demand for cost-effective campaigns. The solutions are used by small enterprises for driving referrals, reselling to existing customers, and customer re-engagement.
However, the industry expansion is likely to be impeded by spam risks and the low rate of email delivery due to filters.
Regional Insights:
North America to Emerge Prominent Due to Presence of Small and Medium Businesses
The North America email marketing software market share is set to record considerable expansion over the estimated period. The rise can be credited to the presence of a substantial number of small & medium enterprises and their advertising efforts.
The Asia Pacific region is expected to register significant growth throughout the forecast period. The surge can be attributed to increasing IT investments in countries such as Japan, India, and China.
Competitive Landscape:
Leading Companies Enter into Partnership Deals to Consolidate Industry Position
Major email marketing software companies are focused on the adoption of a series of strategic initiatives for strengthening their market presence. These include mergers, acquisitions, and the formation of alliances. Some of the additional initiatives comprise growing participation in trade conferences.
Key Industry Development:
September 2021 – Campaign Monitor rolled out Email Academy. The online email training was launched for assisting users in using an email platform for strategy building.
Companies Players Mentioned in the Email Marketing Software Market Report:
- Oracle Corporation (U.S.)
- Salesforce, Inc. (U.S.)
- HubSpot, Inc. (U.S.)
- Campaign Monitor (U.S.)
- Constant Contact, Inc. (U.S.)
- Klaviyo (U.S.)
- Jivox Corporation (U.S.)
- Benchmark Internet Group, LLC (U.S.)
- Mailjet (France)
- Mailchimp (U.S.)
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Major Points in TOC:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Email Marketing Software Key Players Market Share Insights and Analysis, 2021
- Global Email Marketing Software Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Channel (USD)
- B2B
- B2C
- By Deployment (USD)
- Cloud-based
- On-premise
- By Enterprise Size (USD)
- SMEs
- Large Enterprises
- By Application (USD)
- Email Lead Generation
- Sales Reporting
- Customer Management
- Template Management
- Reporting and Analytics
- Others (Web Forms, Event Triggered Mail, Push Notifications)
- By Industry (USD)
- Banking, Finance, Security and Insurance (BFSI)
- IT and Telecommunications
- Retail
- Information Technology Enabled Service (ITeS)
- Healthcare
- Consumer Goods
- Travel and Transportation
- Others (Media and Entertainment, Education, Government)
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Email Marketing Software Market Size Estimates and Forecasts, By Segments, 2018-2029
- Latin America Email Marketing Software Market Size Estimates and Forecasts, By Segments, 2018-2029
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