The Global Email Marketing Spend is Projected to Reach US$15 Billion by 2024
Improvements in Email
Technology & Significantly Higher Marketing ROI Drives the Global Market
for Email Marketing, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry segments,
trends, growth drivers, market share, size and demand forecasts on the global Email Marketing
market. The
global Email
Marketing Spend is projected to reach US$15 billion by 2024,
driven by growing
awareness over the importance of email
in client and customer engagement to address new communication requirements,
improvements in IM and emailing technology, and increasing popularity of
converged communication services.
With the marketing
industry witnessing dramatic transformation over the past decade, new channels
such as email marketing emerged to complement the digital age, thus imparting
greater choice to both customers and marketers. The last few years witnessed
use of sophisticated and huge databases by marketers to market product/services,
and customize & personalize
information, tailored to individual needs of target customers. Email marketing is used extensively as the major
source of marketing for the purpose of business expansion, customer
satisfaction and retention, by retail/e-commerce, IT and telecom, media,
retail/e-commerce, BFSI, and travel and leisure industries. Email has turned
into a more vital customer engagement means to address the unique communication
requirements. The most significant factors influencing the email marketing
industry are increasing Internet usage, ever-expanding utilization of smart
phones over the past few years, and growing awareness in terms of the medium’s
relatively higher rate of RoI than any other digital marketing platform. Since
companies are increasingly integrating email marketing into their marketing mix
strategies to acquire and retain customers, the sector is expected to receive
the largest investment across all channels for the next few years.
From being a marketer-driven channel, email has now become a
consumer-driven channel. Increasing awareness among consumers and their likes
and dislikes, together with their usage and reliance on email, and
expectations, are driving advancements within the market. Email marketers are
continuously developing their email technology, optimizing their campaigns, and
developing sophisticated email programs for meeting customer expectations. Innovations
such as user generated content, dynamic offers and web beacons are witnessing
greater use. Marketers are also leveraging innovations such as modern data
analytics tools, AI, Automation and CRM Integration to enhance their email
marketing strategy. Major trends in email marketing, in addition to triggered
and automated emails, include HTML 5 video
in email, interactive email and big data personalization. The email
infrastructure software is constantly advancing and is set to provide several
benefits to marketers that include cloud support for large surges in email
traffic, rapid access to new innovations, using API for Big Data, and superior
infrastructure for smart email marketers. On the downside, privacy issues related
to Internet and email usage, as well as inadequate niche marketing options
could be hindrances limiting market growth in the short term.
As stated by the new market research report on Email Marketing,
the United States represents the largest market worldwide, followed by Europe.
Retention emails account for the largest share in terms of value of marketing emails
generated in the US. Asia-Pacific ranks as the fastest growing market with a
CAGR of 15.9% over the analysis period driven by increasing broadband and
mobile internet penetration, growing trend towards online shopping, and rising
prominence of e-commerce.
Key
players in the market include AWeber Communications, BlueVenn, Bronto Software,
Campaign Monitor, Constant Contact Inc., Emailcenter UK Limited, Emma, Epsilon
Data Management LLC, GetResponse, IBM Corporation, iContact LLC, j2 Global
Inc., Lucini&Lucini Communications, MailChimp, Pinpointe On-Demand Inc.,
Redial, Salesforce.com Inc., Selligent Marketing Cloud, SimplyCast.com,
StreamSend, Teradata Corp., Topica Inc., and VerticalResponse Inc., among
others.
The
research report titled “Email Marketing: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, and strategic industry activities of global companies.
The report provides market estimates and projections in US dollars for all
major geographic markets such as the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia,
China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico,
and Rest of Latin America), and Rest of World. The US market is further
analyzed by segments including Transactional Email, Acquisition Email, and
Retention Email.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To
connect with us, visit our LinkedIn page.
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