Email Marketing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.49 Billion |
| Market Size (2029) | USD 20.35 Billion |
| CAGR (2024 - 2029) | 12.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Email Marketing Market Analysis
The Email Marketing Market size is estimated at USD 11.49 billion in 2024, and is expected to reach USD 20.35 billion by 2029, at a CAGR of 12.11% during the forecast period (2024-2029).
- Email marketing stands out as a formidable tool for businesses. With an impressive average return on investment (ROI) of USD 42 for every USD 1 spent, it ranks among the most cost-effective marketing channels available.
- Studies reveal that personalized emails can boost engagement rates, increasing open rates by 10-14%. Yet, a significant 70% of brands overlook this tactic, creating a golden opportunity for those who embrace it. Furthermore, personalized emails achieve transaction rates six times higher than their generic counterparts, underscoring the power of targeted messaging in driving sales.
- Revenue from segmented email campaigns outpaces non-segmented ones by a staggering 760%, underscoring the potency of tailored messages for specific audience segments.
- The trend of mobile email usage shows no signs of waning. A 2023 Bluecore survey highlighted that over 60% of Gen Z primarily access email via smartphones. Mobile-optimized emails yield about USD 0.40 per click, outpacing their desktop counterparts. With mobile usage on the rise, prioritizing mobile optimization in email campaigns becomes paramount for maximizing revenue.
- Low deliverability rates pose a significant challenge in the market. Factors like spam filters and a tarnished sender reputation can prevent emails from landing in recipients' inboxes, diminishing the impact of campaigns.
- During the COVID pandemic, email open rates jumped by 21.5% from pre-COVID figures, with certain sectors witnessing even steeper rises. Notably, between mid-March and late April 2020, open rates surged over 30% (source: mailercloud). As physical stores faced closures and operational limits, many businesses swiftly transitioned to online sales. This pivot heightened the reliance on email marketing, especially in driving traffic and sales for sectors like retail and e-commerce in the post-COVID landscape.
Email Marketing Market Trends
Retail and E-commerce to Hold Significant Growth
- Email marketing serves as a vital and potent instrument for e-commerce brands aiming to engage their customers. Without it, forging meaningful and cost-effective relationships with buyers becomes a challenge – relationships essential for nurturing a thriving online store.
- Despite the meteoric rise of social media, studies indicate that email marketing outshines platforms like Twitter and Facebook, being 40 times more effective in attracting new buyers. While it's one of the oldest e-commerce marketing strategies, when executed correctly, email marketing continues to yield the highest ROI for online store proprietors.
- In today's digital landscape, ensuring e-commerce emails render seamlessly on mobile devices is paramount. Embracing a mobile-first design amplifies this advantage, given that nearly 50% of emails are accessed via mobile.
- Open rates vary significantly among popular campaign types. "Back in Stock" emails typically enjoy the highest open rates, outpacing even the less engaging post-purchase emails. As per Barilliance, in 2023, there was a staggering annual loss of about USD 18 billion in the e-commerce sector due to abandoned carts. Yet, with an abandoned cart email series, there's potential to gently nudge shoppers back to the store to finalize their purchases.
- Unbounce reports that a single, clear call-to-action (CTA) in emails can elevate clicks by 371% and sales by a whopping 1617%. HubSpot adds that personalizing a CTA can enhance its efficacy by up to 202%. For example, PartnerStack experienced an increase of 111.55 percent in their conversion rate just by changing “Book a Demo” to “Get Started.”
- Moreover, Campaign Monitor reveals that automated emails generate 320% more revenue than their non-automated counterparts. This underscores the significance of automated e-commerce email marketing campaigns in a comprehensive marketing strategy.
North America is Expected to Hold a Major Share of the Market
- Email marketing continues to be a cornerstone of digital marketing strategies in North America, providing businesses with a substantial return on investment (ROI) and fostering effective consumer engagement. A 2023 survey by Latana revealed that approximately 81% of responding millennials in the U.S. appreciated being contacted by brands through email.
- Backlinko reports that the average open rate for emails in North America hovers around 21.5%, with a click-through rate (CTR) averaging close to 2.96%. Notably, welcome emails boast an impressive open rate of about 50%, far surpassing that of standard newsletters.
- The surge in mobile device usage has amplified the demand for email marketing in the U.S. With most individuals checking their emails on smartphones and tablets, businesses are pivoting their strategies to prioritize mobile-friendly email campaigns. According to GSMA, in 2023, North America leads with an 84% smartphone adoption rate among total mobile connections.
- Moreover, the emphasis on data security and compliance has emerged as a pivotal factor driving the demand for email marketing services. Given stringent regulations like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), businesses are gravitating towards platforms that prioritize secure customer data handling. Consequently, U.S. businesses are increasingly seeking email marketing services that boast robust security features and adherence to privacy regulations.
- Additionally, the integration of social media is propelling the demand for email marketing services. Businesses are harnessing the combined power of email and social media, crafting a unified and expansive marketing strategy. This trend is poised to further stimulate market growth in the region.
Email Marketing Industry Overview
The Email Marketing market is highly competitive and fragmented, primarily driven by the presence of major players. These key players employ strategies such as mergers, acquisitions, and product innovations to maintain a competitive edge and broaden their global footprint.Key player include Mail Chimp, AWeber Communications, Upland Software, Inc. and others.
Email marketing remains a vital revenue model for businesses, particularly in the B2B sector. By leveraging strategies such as personalization, segmentation, and automation, companies can enhance engagement and drive significant revenue growth through their email campaigns. As the landscape continues to evolve, adapting to trends and optimizing strategies will be essential for maximizing the effectiveness of email marketing efforts.
Email Marketing Market Leaders
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Mail Chimp
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AWeber Communications
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Upland Software, Inc.
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GetResponse Inc.
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VerticalResponse, Inc.
*Disclaimer: Major Players sorted in no particular order
Email Marketing Market News
- October 2024: Weave launched an enhanced Email Marketing tool designed for small and medium-sized healthcare businesses. The platform features a new AI-powered assistant and advanced capabilities including customized domain sending, drag-and-drop interface, professional templates, and stock images.
- August 2024: First Page Australia, one of the prominent player in digital marketing innovation, announced new partnership with Klaviyo, a renowned email marketing platform. This collaboration marks a significant milestone in First Page Australia's mission to help companies adapt to the digital age by bringing innovation to the marketing sphere.
Email Marketing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of macroeconomic trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Personalization Capabilities to Enhance Engagement
5.1.2 Ability to Automate Campaigns and Segment Audiences
5.2 Market Restraints
5.2.1 Deliverability Issues and Low Open Rates
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Solutions
6.1.2 Services
6.2 By Deployment
6.2.1 Cloud
6.2.2 On-Premise
6.3 By Enterprises
6.3.1 SMEs
6.3.2 Large Enterprises
6.4 By End-user Vertical
6.4.1 Retail and E-commerce
6.4.2 Travel and Hospitality
6.4.3 IT and Telecom
6.4.4 BFSI
6.4.5 Government
6.4.6 Other End-user Verticals
6.5 By Geography***
6.5.1 North America
6.5.2 Europe
6.5.3 Asia
6.5.4 Australia and New Zealand
6.5.5 Latin America
6.5.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Mail Chimp
7.1.2 AWeber Communications
7.1.3 Upland Software, Inc.
7.1.4 GetResponse Inc.
7.1.5 VerticalResponse, Inc.
7.1.6 Dot Digital Group Plc
7.1.7 Constant Contact, Inc.
7.1.8 Drip Inc.
7.1.9 iContact Corporation
7.1.10 Campaign Monitor Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Email Marketing Industry Segmentation
Email marketing is a direct marketing channel that lets businesses share new products, sales, and updates with customers on their contact lists. It is a tool for businesses, particularly in the B2B sector, where it serves as a critical component of revenue generation strategies.
The email marketing market is segmented by type (solution, services), by deployment (cloud, on-premises), by enterprises (SMEs, large enterprises), end-user verticals (retail and e-commerce, travel and hospitality, it and telecom, bfsi, government, other end-user verticals), geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Solutions | |
| Services |
| By Deployment | |
| Cloud | |
| On-Premise |
| By Enterprises | |
| SMEs | |
| Large Enterprises |
| By End-user Vertical | |
| Retail and E-commerce | |
| Travel and Hospitality | |
| IT and Telecom | |
| BFSI | |
| Government | |
| Other End-user Verticals |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Email Marketing Market Research FAQs
How big is the Email Marketing Market?
The Email Marketing Market size is expected to reach USD 11.49 billion in 2024 and grow at a CAGR of 12.11% to reach USD 20.35 billion by 2029.
What is the current Email Marketing Market size?
In 2024, the Email Marketing Market size is expected to reach USD 11.49 billion.
Who are the key players in Email Marketing Market?
Mail Chimp, AWeber Communications, Upland Software, Inc., GetResponse Inc. and VerticalResponse, Inc. are the major companies operating in the Email Marketing Market.
Which is the fastest growing region in Email Marketing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Email Marketing Market?
In 2024, the North America accounts for the largest market share in Email Marketing Market.
What years does this Email Marketing Market cover, and what was the market size in 2023?
In 2023, the Email Marketing Market size was estimated at USD 10.10 billion. The report covers the Email Marketing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Email Marketing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Email Marketing Industry Report
Statistics for the 2024 Email ing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Email ing analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
