ID: MRFR/ICT/5957-HCR | February 2021 | Region: Global | 100 pages
Globally, the email marketing market is expected to grow at a CAGR of 15.2% during the forecast period, 2018–2023. Increasing digitalization across the globe, a growing number of internet users, and the increasing trend of digital marketing are the key driving factors for the growth of the market. Being the most preferred platform for digital marketing, email marketing is expected to grow with significant rate in the upcoming years. However, budget constraints and lack of awareness, particularly among small and medium-sized enterprises (SMEs) in developing economies, is expected to hinder growth of the global email marketing market.
Email marketing solution is more than just sending emails. It allows enterprises to plan, schedule, conduct, and monitor marketing campaigns. The solution contains various features, such as design tools, email builders, scheduling, campaign automation, and reporting & analytics, which enables enterprises to streamline their marketing efforts. The key advantage of email market solution is to build customer loyalty, increase the number of leads, and finally, increase sales.
Email Marketing solutions and services have a wide adoption in almost all industry verticals, such as Banking, Financial Services, and Insurance (BFSI), retail and consumer goods, travel and hospitality, education, IT and telecom, and transportation and logistics. According to the market trends, BFSI, retail & consumer goods, and travel & hospitality are the top 3 major industry verticals that are adopting the email marketing solutions and this trend is expected to continue during the forecast period.
The global email marketing market is segmented based on component, organization size, deployment mode, industry vertical, and region/country.
By component, the market is segmented into solutions and services.
By deployment mode, the market is segmented into cloud and on-premises.
By organization size, the market is segmented into large enterprises, medium-sized enterprises, and small enterprises.
By industry vertical, the market is segmented into retail & consumer goods, travel & hospitality, food & beverages, education, transportation & logistics, media & entertainment, BFSI, IT & telecom, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.
The global market for email marketing market is estimated to grow rapidly during the forecast period from 2018 to 2023. The geographical analysis of global email marketing market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is presumed to have the largest market share in the global email marketing market. The US, Canada, and Mexico are the leading countries in the region. The growth is attributed to the presence of large number of enterprises and a high degree of digitalization in the region. Asia-Pacific is anticipated to be the fastest growing region in the global email marketing market over the forecast period. Rapidly increasing number of enterprises and rising adoption of digital marketing solutions in the region are the key driving factors for the growth of email marketing in the region. Enterprises in the region understand the fact that the region has largest population of email users in the world and thus, strategizing to promote their product and service offerings through emails.
The email marketing market has presence of many vendors from all parts of the world, which is intensifing the competition in the market. These vendors are adopting various organic and inorganic growth strategies to gain leading position in the market. The strategies, such as new product launch/product enhancement and partnership are the major strategies adopted by the prominent vendors in the market to meet new use case requirements and acquire new customers.
The prominent players in email marketing market are GetResponse (Poland), Zoho Campaigns (India), Campaign Monitor (US), HubSpot, Inc. (US), Klaviyo (US), ActiveCampaign, LLC (US), Salesforce.com, inc. (US), SendinBlue (France), Adobe (US), Kevy (US), Pinpointe On-Demand, Inc. (US), AWeber Communications (US), Constant Contact, Inc. (US), Mailjet inc. (France), and Ontraport (US).
Frequently Asked Questions (FAQ) :
The global market for email marketing in the ensuing years can achieve a CAGR of 15.2%.
Salesforce.com, inc. (US), Klaviyo (US), HubSpot, Inc. (US), Constant Contact, Inc. (US), ActiveCampaign, LLC (US), GetResponse (Poland), Campaign Monitor (US), Zoho Campaigns (India), Adobe (US), Kevy (US), AWeber Communications (US), Mailjet inc. (France), Ontraport (US), SendinBlue (France), Pinpointe On-Demand, Inc. (US), are the top vendors competing in the market.
The market size is likely expand significantly during the review period, with the market expected to garner massive revenues owing to rising digitization and surging number of internet users.
Lack of awareness and budget constraint can be the primary market restraints in the coming years.
Email marketing solution enables enterprises in planning, scheduling, conducting, and monitoring marketing campaigns. It consists of several features, including email builders, design tools, campaign automation, reporting & analytics as well as scheduling, which help enterprises streamline their marketing efforts.