According to a recent study by Fortune Business Insights, the global email marketing software market size is projected to reach USD 2.53 billion by 2028. This is a calculated compound annual growth rate of 10.7% for the six year period, with the market at $1.12 billion in 2020. The report hypothesizes this growth stemming not only from the ever-increasing adoption of digital marketing, but also new start ups and organizations that will increase the use and need for email platforms and software.
Email marketing software, which is defined as an advertising platform and communication platform that enables companies to reach a huge consumer base, will see an increase as e-commerce platforms and digital services continue to emerge and more and more people become smartphone users. As the demand for the softwares arises, we are likely to see their capabilities evolve.
The way that people utilize email is evolving, and we are likely to see platforms that make it even easier to hyper-personalize emails and create dynamic content. Marketers will demand that platforms make their jobs easier, and increased competition is increasing the need for email software to stand out to marketing teams. For example, behavior-driven email marketing is gaining speed, and leading software, MailChimp, has already implemented offerings that make this easy for users to deploy. In Q3 of 2020, it launched advanced AI-based automated marketing tools that help business owners to design and create subject lines for better consumer interactions.
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