According to Future Market Insights (FMI), the email marketing market is forecasted to reach a net worth of US$ 12.4 Bn in 2022 and US$ 59.8 Bn in 2032 from US$ 10.4 Bn in 2021. It is estimated to register a robust CAGR of 17% over the forecast years.
As most of the marketing operations in any field are getting digitized day by day, the scope of the email marketing market has increased manyfold in the past decade. There are a number of email and SMS marketing platforms that help in generating leads by targeting the right customers for a profitable business for the enterprise. The growth in the number of internet users with personal email IDs has increased significantly with the growth of digital literacy around the world.
Establishing direct communication channels with the target audience and customers through eblast services has surfaced to be a cost-effective method of advertising and marketing. The top service providers in the domain of electronic direct mail marketing have experienced a huge demand owing to the rise in consumerism as well.
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The establishment of e-commerce platforms and delivery network systems in the past decade has also further boosted the requirement and results of free email marketing platform services. With the growth of online business activities, the demand for email marketing is anticipated to witness higher growth opportunities in the future.
Key Takeaways
- The global email marketing market was valued at nearly US$ 10.4 Bn by the end of the year 2021 and is expected to witness an impressive CAGR of 17% until 2032. The absolute dollar growth of the email marketing earnings is predicted to be about US$ 47.4 Bn as per the market analysis report.
- The software segment of the global email marketing market is expected to be the fastest-growing category, with an estimated CAGR of 17.7% over the forecast period. This segment is predicted to acquire more than 80% of the email marketing market share in terms of revenue.
- Among the different types of methods used for free mass mailing services, automated systems are the most attractive option for different end users. This segment is anticipated to be valued at US$ 52.5 Bn by the end of this forecast period by witnessing a growth rate of 17.4%.
- Asia Pacific is turning out to be the fastest-growing region for campaign mail services owing to its emerging information technology and communication (ITC) industry. India is the top-performing country in email marketing services with an estimated CAGR of 20.7%, followed by China at 19.7% over the forecast period.
- The US email marketing market is valued at 1.35 Bn and is poised to grow at an estimated CAGR of 14%. By virtue of the presence of a number of cold email lead generation agencies, the regional market is anticipated to be valued at US$ 6.6 Bn by the year 20232.
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Competitive Landscape
The major players operating in the global email marketing market include Alchemy Worx Ltd., Adestra Ltd., GerResponse, Vertical Response, Inc., Dotdigital Ltd., Forfront Ltd., BlueHornet Inc., Constant Contact Inc., BlueTie Inc., Drip Inc., Microsoft Corporation, International Business Machines Corporation, The Rocket Science Group, LLC (mailChimp), iContact Corporation, Zoho Corporation Pvt. Ltd., Campaign Monitor, Natexo Group, Epsilon, Responsys Inc. (Oracle Corporation), and Salesforce Inc.
Key Segments
By Type:
- Traditional
- Automated
By Component:
- Software
- White Label Software
- Third-party Standard
- Web-based Application
- Services
- Integration and Installation
- Support and Maintenance
By Enterprise:
- SMEs
- Large Enterprise
By End-use Industry:
- Retail/E-Commerce
- IT & Telecom
- Travel & Leisure
- Print/Publishing
- BFSI
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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The post Email Marketing Market had reached a revenue of US$ 12.4 Bn by 2022 & market is expected to reach US$ 59.8 Bn by 2032, at a CAGR of 17.0% for 2022-32 | FMI appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.