Email Marketing Software Market Outlook
According to a new report by Expert Market Research titled, “Email Marketing Software Market Price, Share, Analysis, Report and Forecast 2023-2028″,reached a value of approximately USD 1.28 billion in 2022. Aided by the surging need for effective customer communication and the expanding utilisation of email marketing software across diverse sectors, the market is projected to further grow at a CAGR of 11.3% between 2023 and 2028 to reach a value of USD 2.43 billion by 2028.
Email marketing software is a technological tool that allows businesses to send targeted emails to a specified group of consumers to promote their products or services. These emails can range from promotional content and newsletters to transactional messages and personalised communication. The software provides benefits such as enhanced customer engagement, personalised content, and effective tracking of email campaign performance.
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The escalating consumer preference for digital communication is driving the global email marketing software market growth. As awareness of the benefits linked with digital marketing tools intensifies, there has been a noteworthy shift towards strategies such as email marketing, leading to a surge in demand for comprehensive email marketing software. Moreover, the accelerating trend of ecommerce and online shopping has further stimulated the popularity of email marketing, as it serves as a critical medium for businesses to establish and maintain customer relationships.
The broadening application of email marketing software across different industries also contributes significantly to the email marketing software market expansion. In the retail sector, this software is utilised to communicate promotional offers and personalised product recommendations. It is also used extensively in the media and entertainment industry to update subscribers about new content, events, or services. In the financial industry, email marketing software is essential for sending transactional emails and informing customers about policy changes or updates.
Moreover, the growing emphasis on data-driven marketing strategies has encouraged a greater focus on email marketing software. The software allows companies to track key metrics such as open rates, click-through rates, and conversion rates, enabling them to refine their marketing strategies based on data and insights. Furthermore, with the advancement of Artificial Intelligence (AI) and Machine Learning (ML), predictive analytics capabilities have been incorporated into these software tools, providing more precise and personalised communication, thereby fuelling the email marketing software market growth.
Similarly, the emerging importance of automation in marketing processes has also boosted the demand for email marketing software. The capability of automating repetitive tasks, like sending standard follow-up emails or customer onboarding communications, not only improves efficiency but also helps maintain consistency in brand communication. This, combined with features like segmentation and personalisation offered by these tools, has amplified their value, resulting in a positive impact on the email marketing software market development.
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Email Marketing Software Market Segmentation
The market can be divided based on channel, deployment, enterprise size, application, end use, and region.
Market Breakup by Channel
- Business-to-Business (B2B)
- Business-to-Customers (B2C)
Market Breakup by Deployment
Market Breakup by Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
Market Breakup by Application
- Email Lead Generation
- Sales Reporting
- Customer Management
- Template Management
- Reporting and Analytics
Market Breakup by End Use
- Banking, Finance, Security, and Insurance (BFSI)
- IT and Telecommunications
- Consumer Goods
- Travel and Transportation
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global email marketing software companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- LeadGnome, Inc.
- Phonexa Holdings, LLC
- ConvertKit LLC
- EmailOctopus (Three Hearts Digital Ltd)
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