Email Marketing Service Market Size (2024-2030)

The Global Email Marketing Service Market was valued at USD 1.34  billion and is projected to reach a market size of USD 2.96  billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 12%. 

An email marketing service is software that allows organizations to create, send, and manage email marketing campaigns to their subscribers and customers. It is a widely used tool in digital marketing as it enables companies to connect with the audience directly for promoting their products, and services, providing offers, and sending information about new launches. Further, the software helps in task automation by providing visually appealing email templates for enriched customer engagement. In addition, it assists organizations in managing their subscribers by keeping track of the subscriber list and sending relevant emails to them. Moreover, email marketing service offers analytics and reporting tool that enable organizations to measure the progress of email marketing campaigns, measure success rates, predict consumer behavior, and others. Furthermore, the increasing demand for task automation and marketing analytics has boosted the demand for email marketing services in the market.

Global Email Marketing Service Market Drivers:

The rising demand for task automation and marketing analytics has bolstered the demand for email marketing services.

Companies are shifting their focus toward investing in task automation software that saves their time by streamlining the email marketing process. Moreover, these organizations deploy Ai-enabled email marketing services that allow them to send emails automatically to consumers on their birthdays, special occasions, or festivals, cart-abandonment reminders, post-purchase emails, offer emails, and others. This helps to reduce manual effort and ensures timely delivery of emails to consumers. Furthermore, these automated email marketing services enable companies to analyze email data such as email performance, consumer clicks, bounce-back rates, conversion rates, and others that help companies derive conclusions and make better sales and marketing decisions. Further, the software provides personalization features to companies that enable them to create personalized and targeted content based on demographics and thereby increasing the market reach.

Trends in digital marketing boost the demand for email marketing services in the market.

In recent times, digital marketing has gained momentum due to increased usage of online platforms and the internet by users from finding information to shopping online. This has induced companies to strengthen their online presence and boost their revenue. Moreover, companies use personalized and customized email marketing software for optimizing their sales and marketing strategies. These include the use of advanced AI features such as triggered AI-bot emails, 24*7 email customer service, user behavior metrics, use of natural language processing for suggesting email content and subject lines, automated template-building tools, and others. Moreover, these software offer integration services that allow companies to avail additional marketing features such as generating leads, sending automated emails to prospects, maintaining prospect databases, integration with CRM platforms for enhanced user engagement, and others.

Global Email Marketing Service Market Challenges:

Data privacy and security concerns can hamper the market demand for email marketing services. Email marketing services are hosted on online platforms that collect, store, and maintain all sensitive information about the company and its performance, which is prone to unauthorized access such as data breaches, password attacks, and privacy leaks. This can affect the marketing workflow of the company and reduce the demand for email marketing services in the market.

Global Email Marketing Service Market Opportunities:

The Global Email Marketing Service Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches, and agreements during the forecasted period. Furthermore, the increasing demand for task automation and the rapid adoption of digital marketing by industry players are predicted to develop the market for Email Marketing Services and enhance its future growth opportunities.

COVID-19 Impact on the Global Email Marketing Service Market:

The pandemic had a significant impact on the email marketing services platform. Due to the pandemic, companies and organizations worked remotely, which increased the need to market their products and services to consumers and hence increased the demand for email automation tools such as email marketing tools. However, due to reduced consumer spending for non-essential or luxurious items, there was a decline in demand for email marketing services by major industries such as beauty, wellness, apparel, technology, and others.

EMAIL MARKETING SERVICE MARKET REPORT COVERAGE:

Global Email Marketing Service Market Segmentation: By Enterprise Size

• Small and Medium-sized Enterprises

• Large Enterprises

Based on market segmentation by enterprise size, large enterprises occupy the highest share of the market. Large enterprises typically require email marketing services due to their need to promote big businesses and increase market reach. These email marketing services are advanced in nature and offer premium features such as AI analytical and tracking tools, performance measurement tools, CRM integration tools, and others.

Global Email Marketing Service Market Segmentation: By Deployment

• Cloud

• On-Premise

Based on market segmentation by deployment mode, the cloud segment occupies the highest share of the market. Cloud email-marketings services or software as a service enable organizations to host their email data on third-party browsers. This software offers greater accessibility and cost-effectiveness as it automatically updates and maintains the digital infrastructure of emails. Additionally, they offer centralized storage options that help organizations reduce upfront infrastructure costs such as hardware deployment costs.

The on-premise segment is the fastest-growing segment during the forecast period. On-premise email marketing solution offers greater data control as it allows organizations to control, manage, and store email data on their private servers and reduce the risk of unauthorized data access.

Global Email Marketing Service Market Segmentation: By Pricing Model

• Free

• Basic

• Premium

• Others

Based on market segmentation by pricing model, the free segment occupies the highest share of the market. Free email marketing services offer free access to all email services free of cost, however, to avail more features organizations need to upgrade their plan. Moreover, these are widely used by start-ups, small businesses, freelancers, and professionals to promote their products and services.

The premium segment is the fastest-growing segment during the forecast period. Premium email marketing services are increasingly used by large businesses to expand their market. These services are available in subscription-based plans and offer advanced features such as email tracking, AI-driven insights, more cloud storage, and others.

Global Email Marketing Service Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Based on market segmentation by region, North America occupies the highest share of the market. Rising competition and diverse business models have contributed to the demand for email marketing services in the region. Due to market saturation, companies are constantly making efforts to differentiate their product or service from others and grab a large market share. This has increased the demand for advertisement and marketing tools such as email marketing services in the region. In addition, beauty and apparel companies are the major consumers of email marketing services in the region.

Asia-Pacific is the fastest-growing region during the forecast period. Rapid digital transformation such as increased use of AI-enabled services and software and growing trends in entrepreneurship has boosted the demand for email marketing services in the region.

Global Email Marketing Service Market Key Players:

1. Hubspot

2. Oracle

3. Salesforce

4. Mailchimp

5. Mailjet

6. Campaign Monitor

7. Jivox Corporation

8. Drip

9. Omnisend

10. Flodesk

11. AWeber

12. BayEngage

13. Pabbly