Email Marketing Software Market

Global Email Marketing Software Market:

The global email marketing software market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.5% during 2024-2032. The rising adoption of email marketing by large as well as small and medium scale businesses, the increasing trend of omnichannel marketing, and rising adoption of cloud-based business operations represent some of the key factors driving the market.

Email Marketing Software Market Analysis:

• Major Market Driver: The rising adoption of email marketing by large as well as small and medium scale businesses on account of growing adoption of data-driven and communication-based business operations is one of the significant factors, driving the growth of the market.
• Key Market Trends: The growing utilization of automation in email marketing to send targeted emails to specific segments of the audience is creating a positive outlook for the overall market. In line with this, the rising popularity of cloud email marketing software solutions with higher scalability and flexibility is one of the prominent email marketing software market growth factors.
• Competitive Landscape: Some of the leading players operating in the global market include AWeber Communications, Benchmark Internet Group, Campaign Monitor Pty Ltd., Constant Contact Inc., ConvertKit LLC, EmailOctopus (Three Hearts Digital Ltd), HubSpot Inc., Intuit Inc., Jivox Corporation, Mailjet (Mailgun Technologies Inc.), Phonexa Holdings LLC, Salesforce.com Inc., and SendWorks, among many others.
• Geographical Trends: North America was the largest market for email marketing software. Some of the factors driving the North America email marketing software market included the growing usage of automation in email marketing, the increasing trend of omnichannel marketing, the incorporation of advanced technologies in email software, widespread adoption of cloud-based operations, etc.
• Challenges and Opportunities: Challenges in the email marketing software market include intense competition and evolving privacy regulations. Opportunities lie in the growing demand for personalized marketing solutions and integration with AI-driven analytics for enhanced campaign effectiveness.
   

Email Marketing Software Market Trends:

Emergence of Artificial Intelligent (AI) Integrated Software

Various email marketing software providers are increasingly integrating artificial intelligence (Al) in email marketing to facilitate numerous advantages, such as automation, personalization, higher conversion rates, and data analysis. In addition, this technology has simplified the email marketing procedure to maximize returns and reduce fault lines, enabling machines to evaluate, understand, and process information. Consequently, various market players are launching software based on advanced technology, such as Al and cloud computing. For instance, in August 2019, Rezo. Al released a Machine Learning (ML) and Natural Language Processing (NLP) technology-based 'Email Automation' platform product. The platform uses predictive analytics, feedback mechanisms, and others to automate enterprise workflows. Similarly, in June 2024, Birdseye, an emerging force in AI-powered retail and e-commerce marketing, launched new features in its autonomous email marketing platform that empower retailers to liquidate inventory using its one-click artificial intelligence (AI) solution. With the new capabilities, retailers, and e-commerce merchants can use Birdseye for hands-off email marketing campaigns that reduce or liquidate stagnant or slow-moving inventory with discrete and hyper-personalized offers. Such innovations are anticipated to propel the email marketing software market size in the coming years.

Expanding Digital Footprint of Organizations

As businesses are embracing digital transformation, they are increasingly relying more on online channels like email to engage with customers and prospects. This trend is enhancing the importance of email marketing software since it facilitates targeted communication, personalized messaging, and automated campaigns. According to Adoric, about 93% of B2B marketers use email marketing to distribute content. B2B businesses invest highly in email marketing, and around 30% aim to increase marketing spending. Additionally, during a 2023 survey carried out among marketers in selected countries worldwide, product awareness and promotions were the key objectives of their email marketing campaigns, with 16% of respondents choosing them. Moreover, in 2024, email marketing revenue is projected to surpass US$ 9.5 Billion. Besides this, the rising number of email users is also providing an edge to companies to directly connect with potential customers. For example, despite the growth and prominence of mobile messengers and chat apps, email is an integral part of daily online life. In 2022, the number of global email users amounted to 4.26 billion and is set to grow to 4.73 billion users in 2026.

Increasing Penetration of E-commerce Platforms

The expansion of online retail and e-commerce is driving the need for email marketing solutions that support customer acquisition, retention, and conversion. E-commerce businesses utilize email campaigns for personalized product recommendations, promotional offers, cart abandonment reminders, and order updates. These emails help maintain ongoing communication with customers, build brand loyalty, and encourage repeat purchases. Furthermore, significant expansion in the e-commerce sector is offering lucrative growth opportunities to the overall market. Moreover, as global internet access and adoption are rapidly rising, with over five billion internet users worldwide, the number of people making purchases online is ever-increasing. In 2024, retail e-commerce sales are estimated to exceed US$ 6.3 Trillion worldwide, and this figure is expected to reach new heights in the coming years. Additionally, according to IMARC, the global e-commerce market size reached US$ 21.1 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 183.8 Trillion by 2032, exhibiting a growth rate (CAGR) of 27.16% during 2024-2032. This, in turn, is anticipated to bolster the email marketing software market share in the coming years.

Email Marketing Software Industry Segmentation: 

IMARC Group provides an analysis of the key trends in each segment of the global email marketing software market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on channel, deployment, application, and end use.

Channel Insights:

• Business to Business
• Business to Customers
   

Business to business accounted for the largest market share

The report has provided a detailed breakup and analysis of the email marketing software market based on the channel. This includes business to business and business to customers. According to the report, business to business represented the largest segment. 

The business-to-business (B2B) channel focuses on companies marketing their products or services to other businesses rather than individual consumers. B2B email marketing aims to establish and nurture relationships with decision-makers and stakeholders within target businesses. Moreover, according to a data report, 77% of B2B buyers prefer to be contacted by email than any other channel. 73% of marketers use an email newsletter as part of their content marketing strategy. In 2023, 89% of B2B marketers increased or maintained their budget, and 70% reported an improvement in email marketing performance. Moreover, email provides a direct and efficient channel for businesses to communicate with other businesses, allowing for personalized messaging tailored to specific industries, roles, and needs.

Deployment Insights:

• On-premises 
• Cloud-based
   

Cloud-based represented the largest segment

The report has provided a detailed breakup and analysis of the email marketing software market based on the deployment. This includes on-premises and cloud-based. According to the report, cloud-based represented the largest segment.

Cloud-based email marketing refers to the practice of using online platforms or services hosted on remote servers to manage and execute email marketing campaigns. Unlike traditional software installed on local computers, cloud-based solutions offer accessibility from any location with internet access. They provide features for creating, sending, and tracking emails, along with tools for segmentation, automation, and analytics. This approach eliminates the need for extensive hardware investments and software maintenance, offering scalability, flexibility, and real-time updates. Businesses benefit from improved efficiency, cost-effectiveness, and the ability to integrate with other cloud-based marketing and CRM systems for seamless data synchronization and campaign management.

Application Insights:

• Email Lead Generation
• Sales Reporting 
• Customer Management
• Template Management
• Reporting and Analytics 
• Others
   

Email lead generation represented the largest segment

The report has provided a detailed breakup and analysis of the email marketing software market based on the application. This includes email lead generation, sales reporting, customer management, template management, reporting and analytics, and others. According to the report, email lead generation represented the largest segment. 

Email marketing aids in lead generation by offering a direct and personalized approach to engage potential customers. Through targeted campaigns, businesses can attract prospects with relevant content, compelling offers, and personalized messages tailored to their interests and needs. Email allows for continuous communication throughout the buyer's journey, nurturing leads from initial interest to conversion. Additionally, email marketing platforms provide valuable insights into recipient behavior, enabling businesses to segment audiences, optimize campaigns, and follow up with leads based on their interactions. This data-driven approach enhances lead quality, increases conversion rates, and supports long-term customer relationships.

End Use Insights:

• BFSI
• IT and Telecommunications
• Retail and Consumer Goods
• Healthcare
• Travel and Transportation
• Education
• Others
   

Retail and consumer goods accounted for the largest market share

A detailed breakup and analysis of the email marketing software market based on the end use has also been provided in the report. This includes BFSI, IT and telecommunications, retail and consumer goods, healthcare, travel and transportation, education, and others. According to the report, retail and consumer goods accounted for the largest market share. 

Email marketing benefits the retail and consumer goods sectors by enabling direct communication with customers, promoting products, and driving sales. Retailers use email to announce promotions, discounts, and new arrivals, encouraging repeat purchases and increasing customer loyalty. Personalized recommendations based on purchase history and preferences enhance engagement and conversion rates. Email campaigns also serve as a platform for showcasing seasonal trends, fashion updates, and exclusive offers, effectively targeting segmented customer groups. Overall, the email marketing software market insight by IMARC, indicates that email marketing in retail and consumer goods sectors enhances brand visibility, fosters customer relationships, and boosts revenue through effective promotional strategies and customer retention efforts.

Regional Insights:

• North America 
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Others 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa
   

North America was the largest market for email marketing software

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for email marketing software.

Some of the factors driving the North America email marketing software market included the growing usage of automation in email marketing, the increasing trend of omnichannel marketing, the incorporation of advanced technologies in email software, the widespread adoption of cloud-based operations, etc. Furthermore, email software market insight by IMARC, indicates that the expanding e-commerce industry across the region is also catalyzing the market growth. Additionally, the presence of big marketplaces in North America is further bolstering the adoption of email marketing software. For instance, the United States is home to several key players in the market, including Amazon and World Trade. Amazon Business, which started in 2015, is the largest B2B eCommerce marketplace in the US and serves nearly 45 states and 80 Fortune 100 firms, including Citigroup, Intel, Cisco, and ExxonMobil. Such big players are increasingly opting for email marketing software to frequently engage with customers and send details regarding their shipments.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global email marketing software market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered in the report include:

• AWeber Communications
• Benchmark Internet Group
• Campaign Monitor Pty Ltd.
• Constant Contact Inc.
• ConvertKit LLC
• EmailOctopus (Three Hearts Digital Ltd)
• HubSpot Inc.
• Intuit Inc.
• Jivox Corporation
• Mailjet (Mailgun Technologies Inc.)
• Phonexa Holdings LLC
• Salesforce.com Inc.
• SendWorks
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Email Marketing Software Market News:

• June 2024: Birdseye, an emerging force in AI-powered retail and e-commerce marketing, launched new features in its autonomous email marketing platform that empower retailers to liquidate inventory using its one-click artificial intelligence (AI) solution. With the new capabilities, retailers, and e-commerce merchants can use Birdseye for hands-off email marketing campaigns that reduce or liquidate stagnant or slow-moving inventory with discrete and hyper-personalized offers.
• May 2024: NP Digital, a leader in end-to-end performance marketing, launched its Mail Grader tool for improving email marketing programs across global markets. With Mail Grader, NP Digital is anticipated to provide marketers with instant insights to strengthen brand loyalty and actionable recommendations to maximize results from email marketing campaigns.
• February 2024: A marketing automation platform, Klaviyo, launched Klaviyo AI, a new suite of AI-powered tools and featuring segmentation, email, and SMS tools.

Email Marketing Software Market Report Scope:

Key Questions Answered in This Report: 

• How has the global email marketing software market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global email marketing software market? 
• What is the impact of each driver, restraint, and opportunity on the global email marketing software market? 
• What are the key regional markets? 
• Which countries represent the most attractive email marketing software market? 
• What is the breakup of the market based on the channel?
• Which is the most attractive channel in the email marketing software market? 
• What is the breakup of the market based on the deployment? 
• Which is the most attractive deployment in the email marketing software market? 
• What is the breakup of the market based on application?
• Which is the most attractive application in the email marketing software market?
• What is the breakup of the market based on end-use?
• Which is the most attractive end use in the email marketing software market?
• What is the competitive structure of the global email marketing software market? 
• Who are the key players/companies in the global email marketing software market? 
• Who are the key players/companies in the global email marketing software market? 

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the email marketing software market from 2018-2032. 
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global email marketing software market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region. 
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the email marketing software industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.