The size of the global email marketing software market was estimated at USD 1.15 billion in 2021. With a predicted CAGR of 11.8% over the forecast period, the market is expected to increase from USD 1.26 billion in 2022 to USD 2.76 billion by 2029. According to our analysis, the global market grew 7.6% on average in 2020 compared to 2019.
Email marketing is the practice of using email to communicate a business message to a group of people. Due to its communication standards for promoting goods and services, it is currently promoted. The demand for email marketing software has increased as a result of businesses' increasing efforts to expand their customer base through the use of improved marketing software. The use of email marketing software is also essential for fostering stronger relationships with customers and preserving customer loyalty.
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Based on channel, deployment mode, application, end-use vertical, and geography, the study thoroughly segments the global data visualization market. Each segment and its corresponding sub-segments are thoroughly examined in the report using a graphical and tabular representation. By using it to identify and develop strategies based on the fastest-growing market segments and those with the highest revenue creation, as highlighted in the report, market players, investors, and new entrants can all profit from this analysis.
COVERAGE OF REPORTS
The market is thoroughly analyzed in the Email Marketing Software Market market research report. It focuses on important elements like top businesses, product categories, and product uses. In addition, the report highlights significant industry developments and provides insights into market trends. The report includes a number of factors, in addition to those already mentioned, that have helped the market grow recently.
Key Industry Developments:
August 2022 saw the beginning of a partnership between Klaviyo and Shopify, with Klaviyo being recommended as the email solution partner for Shopify Plus. Through this partnership, Klaviyo gains quick access to new Shopify features, enabling Klaviyo to accelerate the development of new technologies that help retailers deal with changes in online marketing. The partnership also emphasizes expanding chances for retailers to enhance client relationships in a dynamic marketing environment.
KEY INDUSTRY PLAYERS
There exists a thriving startup ecosystem on the global market. It is anticipated that over 100 startups will create and innovate new products for consumers. According to projections, a market like this would generate fierce competition, forcing existing businesses to constantly update their systems and adopt new developments in email marketing software.
List of Key Companies Profiled:
- 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.)
RESTRAINING FACTORS
The ratio of emails that arrive in recipients' inboxes to all of the emails that were sent by the sender is known as the delivery rate. When using their email marketing technology, customers are worried about email delivery speed.
Additionally, email marketing calls for frequent variations to keep subscribers and customers interested. Filters are installed on various servers to reduce the amount of spam that users receive. However, the main issues with email marketing are the security and spam risks. Furthermore, it is anticipated that a lack of knowledge, critical infrastructure, and data security, such as contemporary network connectivity, will hurt the market.
REGIONAL INSIGHTS
North America, Latin America, Europe, the Middle East Africa, and Asia Pacific make up the different regions that make up the market. They are further segmented into countries.
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