Email Marketing Software Market Expected to Reach $3.3 Billion by 2031—Allied Market Research

The email marketing software market was valued at $1,232.8 million in 2021, and is projected to reach $3,321.2 million by 2031, registering a CAGR of 10.89% from 2022 to 2031.

Email marketing software comprises of email database management, template development, email deliverability, and email monitoring. Several software providers offer authorize interfaces with email service providers and social networking sites. Email marketing software is used by firms and companies of all sizes to deliver marketing messages and build connections with their clients, prospects, and subscribers.

Using email marketing software, end-user can create subscriber databases, classify these subscribers into different groups, and then send each group specifically tailored emails. With the help of email marketing software, businesses can develop and distribute newsletters, promotional emails, announcements, and other kinds of email content to targeted audiences.

According to email marketing software market research, the business-to-business (B2B) segment was the highest revenue contributor to the market, with $870.9 million in 2021, and is estimated to reach $2,586.4 million by 2031, with a CAGR of 11.97%. The business-to-customers (B2C) segment is estimated to reach $734.8 million by 2031, at a significant CAGR of 7.75% during the forecast period.

The outbreak of the COVID-19 has significantly impacted the growth of the email marketing software market size. Rise in demand for artificial intelligence integrated digital advertising tools across various sectors has significantly propelled the demand for email marketing software market during the pandemic. However, the emergence of third wave of COVID-19 across U.S. and UK is anticipated to affect the growth of email marketing software industry in 2022. Moreover, the retail & consumer goods sector globally started to deploy digital marketing solutions, and thus is expected to drive the growth of the email marketing software market analysis post pandemic.

Region-wise, North America holds a significant share in the global email marketing software market, owing to the presence of prime players in this region. The adoption of email lead generation and customer management is expected to propel the growth of the email marketing software industry in this region. Moreover, growing awareness of cost-effectiveness of email marketing software in North America is anticipated to drive the email marketing software market trends in this region.

KEY FINDINGS OF THE STUDY

• By channel, the segment business-to-business (B2B) is expected to grow with impressive valued at $1,232.8 million in 2021, owing to increasing adoption of this channel by various start-ups and small & medium-sized enterprises (SMEs).
• By deployment model, the cloud based segment was the highest revenue contributor with $3,321.2 million by 2031, due to the advantages offered such as cost cutting and business flexibility this segment is expected to provide lucrative email marketing software market forecast opportunities.
• By application, the email lead generation segment accounted for the highest revenue in 2021 with 10.89% CAGR. However, the customer relationship management segment is expected to witness highest growth rate in the forecasted period.
• By end-use vertical, the retail & consumer goods generated the highest revenue in 2021. However, the IT & telecommunications segment is expected to exhibit significant growth during the forecast period.
• Region wise, the email marketing software market growth is dominated by North America. However, Asia-Pacific is expected to witness significant growth during the forecast period.

The key players profiled in the report include Aweber 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. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the email marketing software market.