Surge in need for inexpensive digital advertising, the growing popularity of targeted and personalized marketing, the exponential rise in internet penetration across the globe, and the increase in the utilization of artificial intelligence and digitization drive the growth of the global email marketing software market.
Prevalence of changes in activities including product launches, advertising, marketing, promotions, and media spending among various companies during the pandemic had a positive impact on the growth of the market.
According to the report published by Allied Market Research, the global email marketing software market generated $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.
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Based on application, the email lead generation segment held the dominating market share in 2021, holding more than one-fourth of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.17% during the forecast period. The report also analyses other segments such as sales reporting, customer management, template management, reporting and analytics, and others.
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Based on channel, the business-to-business segment held the dominating market share in 2021, holding more than two-thirds of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 11.97% during the forecast period. The report also analyses another segment such as the business to customers.
Based on the deployment model, the cloud-based segment held the dominating market share in 2021, holding nearly three-fourths of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.79% during the forecast period. The report also analyses the on-premises segment.
Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 13.56% during the forecast period.
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The key players analyzed in the global email marketing software market report include weber 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.
COVID-19 Scenario:
- The COVID-19 pandemic had a positive impact on the growth of the global email marketing software market, owing to the increased internet penetration among people during lockdowns.
- Lockdowns were implemented by the governments of various countries so as to limit the spread of the virus, and hence stringent social distancing restrictions were imposed. This enabled people to stay indoors and ultimately resulted in increased internet penetration.
- As a result of this, rapid changes in activities in the firms took place including product launches, advertising, marketing, promotions, and media spending. Thus, the demand for email marketing software surged rapidly.
- Countries such as U.S., UK, Germany, Canada, Russia, China, Japan and India have been active players in increasing the influence of email marketing tools during the pandemic.
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