Email Marketing Software Market 2023: Top impacting factors that could escalate markets growth by 2031

According to the report published by Allied Market Research, The Email Marketing Software Market 2023: Top impacting factors that could escalate markets growth by 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Surge in need for inexpensive digital advertising, growing popularity of targeted and personalized marketing, exponential rise in internet penetration across the globe, and increase in the utilization of artificial intelligence and digitization drive the growth of the global email marketing software market. Prevalence of changes in activities including product launches, advertising, marketing, promotions, and media spending among various companies during the pandemic had a positive impact on the growth of the market.

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The global email marketing software market was valued at $1.2 billion in 2021, and is projected to reach $3.3 billion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.

The email marketing software market is segmented into Channel, Deployment Model, Application and End Use Vertical. Business-to-business (B2B) email marketing is the process of using email marketing between two businesses or clients. B2B channel of email marketing software dominates as more than 70% email marketing truncation is observed between B2B channels.B2B email marketing aims to strengthen brand recognition among businesses, enhance customer conversion for B2B management corporations, and create awareness of the value of the product or service. The business-to-business email marketing software market share is further segregated into small & medium enterprises (SMEs) and large enterprises.

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Based on channel, the business-to-business segment held the dominating market share in 2021, holding more than two-thirds of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR 11.97% during the forecast period. The report also analyses other areas such as business to customers.

Based on deployment model, the cloud-based segment held the dominating market share in 2021, holding nearly three-fourths of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.79% during the forecast period. The report also analyses the on premises segment.

Based on application, the email lead generation segment held the dominating market share in 2021, holding more than one-fourth of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.17% during the forecast period. The report also analyses other segments such as sales reporting, customer management, template management, reporting and analytics, and others.

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Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global email marketing software market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 13.56% during the forecast period.

The key players analyzed in the global email marketing software market report include weber 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.

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COVID-19 Scenario:

● The COVID-19 pandemic had a positive impact on the growth of the global email marketing software market, owing to the increased internet penetration among people during lockdowns.

● Lockdowns were implemented by the governments of various countries to limit the spread of the virus, and hence stringent social distancing restrictions were imposed. This enabled people to stay indoors and ultimately resulted in increased internet penetration.

● As a result of this, rapid changes in activities in the firms took place including product launches, advertising, marketing, promotions, and media spending. Thus, the demand for email marketing software surged rapidly.

● Countries such as U.S., UK, Germany, Canada, Russia, China, Japan and India have been active players in increasing the influence of email marketing tools during the pandemic.

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