Businesses are transforming their go-to models to capitalize on emerging opportunities by relying more on digital strategies. As the email marketing market extends its size in the year 2024, the market is expected to accumulate USD 16,974.36 million by the year-end.
The email marketing market is teeming with opportunities and by 2034, the market has the potential to reach USD 81,592.84 million. During the forecast period, the market is estimated to expand at a pace of 17%.
| Attributes | Key Insights |
|---|---|
| Email Marketing Market Size (2024E) | USD 16,974.36 million |
| Market Valuation (2034F) | USD 81,592.84 million |
| Value-based CAGR (2024 to 2034) | 17% |
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| Leading Component | Email Campaign Software |
|---|---|
| Value Share (2024) | 24.80% |
The email campaign software segment is projected to gain a hold of 24.80% of the market by the year-end of 2024. The adoption of email campaign software is surging as businesses aim to enhance their consumer base by using advanced marketing tools.
The email campaign software is essential to increase customer connections and preserve customer loyalty. This software further allows businesses to communicate a commercial message to a group of people through email.
| Leading Type | Cloud-based |
|---|---|
| Value Share (2024) | 56.90% |
The cloud-based email ad segment is expected to account for 56.90% of the market share in the year 2024. Startups as well as small and medium-sized businesses are rapidly employing cloud-based, subscription-based, and cost-optimized strategies for email marketing. This factor is raising the demand for cloud-based marketing and allowing it to dominate the deployment category.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| United States | 17.0% |
| Germany | 12.70% |
| Japan | 13.40% |
| China | 19.10% |
| Australia & New Zealand | 16.50% |
In the United States, the email marketing market is poised to expand at a 17% CAGR over the next ten years. Digital transformation of end-use industries is maximizing the use of email-based marketing. Therefore, the strong presence of end-user industries and digital agencies is propelling the industry in the United States.
Some of the many email ad service providers that operate in the country include j2 Global, Inc., Benchmark Internet Group, Constant Contact, Inc., Martal Group, Hubspot Inc., Jivox Corporation, ConvertKit LLC, and others. Additionally, the growing demand for personalization and distinct concepts is projected to boost the sales of email marketing services.
In the healthcare sector of the United States, especially in hospitals, health systems, and life sciences, the demand for email-based marketing is surging to drive more engagement from targeted audiences. Demand for tailored content is rising as personalization of email on previous behavior shows effective results.
The market is expected to further progress as players adopt acquisition and mergers as their expansion strategies. For instance, in September 2023, H.I.G. Capital, which is a prominent alternative investment company with over USD 58 billion capital under management, announced that Hibu, Inc., its portfolio company, has obtained Signpost, Inc.’s marketing automation software business,. The intent behind this acquisition was to raise conversions from digital marketing campaigns.
The industry in Germany is slated to accelerate at 12.70% CAGR over the upcoming period. The growth of the email marketing market is driven by the introduction of ground-breaking innovations to empower users in the country.
Growing demand for marketing optimization is fueling the market growth. Brands are using email ad tools to make data-driven decisions with influential insights into what is engaging the audience and raising sales.
Small businesses are extensively using email ads to stand out as an invaluable tool. The increasing presence of email ad businesses for small as well as medium-sized businesses is leading to growth in the country.
The demand for email marketing solutions in Japan is slated to rise at a CAGR of 13.40% over the next decade. A rising number of businesses are focusing on email advertising to drive increased sales of their products.
Key players are enhancing diverse facets of email ads like advertising initiatives and feedback emails to help businesses improve their understanding of target consumers and increase their brand recognition.
The Japanese industry benefits from the progress made in technology, such as data analytics and artificial intelligence. These innovations help firms track campaign performance in real time, personalize their marketing efforts, and make data-driven decisions to maximize their revenue.
China's email marketing industry has the potential to expand at 19.10% CAGR over the upcoming decade. With over 731 million people residing in China, the country has a large contingent of internet users. Companies with global aspirations cannot afford to miss this bustling, lucrative market. Email ads are thus emerging as an effective tool to pierce through the barriers posed by political, cultural, and linguistic diversity in the nation.
Email ads are an effective direct marketing channel in China that is extensively used by marketers. To tap into the marketing potential in China, players need to be cognizant of local regulations, craft mail in the local language, make the email design responsive, and play with the color perceptions of the Chinese population.
The Australia and New Zealand market is in line to progress forward at a CAGR of 16.50% over the next ten years. The countries are proliferating with email marketing agencies that help maximize email revenue.
Recognizing the power of first-class email advertising campaigns, businesses across the country are employing email ads to communicate directly and clearly with their visitors and potential clients.
Some widely used email advertising software used by established players and startups in Australia and New Zealand include Moosend, Brevo, Freshmarketer, and CakeMail.
The industry is characterized by its highly fragmented nature, with several firms stepping forward to offer new email advertising software and solutions. They are employing a combination of strategies to boost market profit and develop trust by offering improved, more personalized services.
Key players are diversifying their portfolios through various market strategies. They commonly engage in mergers, collaborations, acquisitions, partnerships, product launches, upgrades, market studies, and new initiatives.
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Alchemy Worx Ltd.
Alchemy Worx Ltd. is a world-famous email marketing agency that provides full-service solutions, including paid social and SMS support, and email marketing, to enterprise-level and eCommerce firms.
The companies’ test and learn strategy has assisted clients with online sales to boost audiences with powerful results. The company creates, manages, and utilizes customer and business emails for Fortune 500 companies and international brands.
Adestra Ltd
Adestra Ltd is a leading and trusted provider of first-person marketing solutions for growing as well as global brands. The company helps organizations and companies with innovative marketing technology services and software. The email automation software instigates engagement by developing personalized content and optimized send times to boost conversions.
GetResponse
GetResponse is an email marketing platform that helps solopreneurs, marketers, coaches, and small businesses with powerful yet affordable tools. These tools help engage subscribers, grow the audience base, and convert subscribers into paying customers.
News Coverage Containing Recent Developments Occurring in the Email Marketing Market
Current projections of the market indicate a valuation of USD 16,974.36 million in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 17% for the industry.
FMI predicts the market to reach USD 81,592.84 million by the year 2034.
The cloud-based segment is predicted to hold a leading market share in 2024.
The United States and China are predicted to offer lucrative opportunities for investors and stakeholders.
Alchemy Worx Ltd., Adestra Ltd, and GetResponse are powerful players in the email marketing industry.
| Projected Growth Rate (2023 to 2033) | 14.5% CAGR |
|---|---|
| Expected Market Value (2023) | USD 68,814 million |
| Anticipated Forecast Value (2033) | USD 2,66,523 million |
| Market Size (2023) | USD 29,853.6 million |
|---|---|
| Market Projected Size (2033) | USD 54,650.3 million |
| Value CAGR (2023 to 2033) | 6.2% |
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