Increasing internet usage as well as penetration is expected to drive the global email marketing market. Email marketing offers several benefits to large as well as mid-sized businesses leading to increased adoption. The global email marketing market is expected to witness significant growth over the forecast period owing to factors such as a growing number of email marketing and hosted service providers.
Emerging trends such as mobile marketing owing to smartphone proliferation is also expected to fuel market demand over the next few years. Smartphone usage allows users to access a large pool of data or information creating avenues for market growth.
Increased internet penetration coupled with rising smartphone usage, along with the cheapening of tariff rates and growing acceptance of digital literacy and awareness has proved to be a shot in the arm of the email marketing market. Developing countries are mainly focusing on e-mail as an important tool to improve their marketing outcomes and grow leaps and bounds. Additionally, all the sectors such as Banking and Finance, IT, Telecom, FMCG, etc. are giving major importance to email marketing to retain customers and provide personalized customer satisfaction. Thus, the global email marketing market is expected to grow at a substantial rate in the upcoming years.
Lack of infrastructure, particularly in the emerging economies may pose to be a challenge to the email marketing market growth. Continuously evolving technology along with growing security issues is also expected to hinder the market growth. Stringent regulations pertaining to user data privacy may also hamper the market growth. Increased adoption of social media platforms as a marketing media pose a serious threat to several e-mail marketing companies. Owing to which service providers focus on developing innovative web solutions.
Asia-Pacific is expected to witness high growth owing to a large number of internet users in this region. However, North America emerged as the most dominant regional market owing to increased penetration and technology maturity. Key email service providers include Pinpointe, Mailigen, iContact, GetResponse, Constant Contact, Campaigner, and Vertical Response. Vendors focus on providing several in-built features and help end-users automate processes, which helps generate leads for the sales team easily and quickly.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.