The practice of email marketing is catching up at a robust pace. Its popularity is driven by the proliferation of social media market and the rising internet penetration. In a report, titled “Email Marketing Industry – Global Size, Share, Trends, Analysis And Forecasts 2012 – 2018,” Transparency Market Research (TMR) presents a granular analysis of the various factors that will shape the market’s growth between 2012 and 2018.
In the last few years, businesses of all size, and from across the globe has realized the importance of email marketing. This has resulted in the increased adoption of email marketing strategies for the potential benefits they offer. According to TMR, the global email marketing industry, which stood at US$1.5 bn in 2010, is projected to expand at a healthy CAGR of 20% between 2011 and 2018. At this rate, the market is projected to reach US$6.5 bn by the end of 2018.
The market is expected to grow due to the rising number of service providers and internet users. Some of the prominent service providers to have established a stronghold in the market are Campaigner, Constant Contact, iContact, Vertical Response, Pinpointe, GetRespnse, and Mailigen.
As per reports, over 2.27 billion people worldwide have access to internet. The penetration of the internet services has been exponential, and there still exists a huge scope for further expansion in the near future. The presence of this unexplored market provides immense scope for the growth of the global email marketing industry in the forthcoming years. Despite exhibiting the highest number of internet users, the penetration of the internet in Asia Pacific is lower compared to the market in North America. However, Asia Pacific holds immense potential, with the presence of significantly large unexplored segments in the region.
The email marketing market is also expected to gain considerably from the rising number of mobile users, which has created a novel gateway for mobile marketing. The technology enables people access information they require on the go. With the proliferation of smartphones, the opportunities available for the email marketing industry have become abundant, which according to experts can be converted into great strengths.
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However, the market faces challenge from the enterprises operating in the unorganized sectors. Moreover, developing market often require niche strategies, and email marketing has become a non-viable option in this regard. Furthermore, the rising safety issues and concerns relating cybercrimes are creating bottlenecks for the market. Privacy issues and stringent regulations too have a negative impact on email marketing since users may be reluctant in replying to such mails and mark them as spams.
Even leading players such as Yahoo!, Gmail, and Windows Live Hotmail, are developing novel solutions to make Web a safer place. This expected to bring innovations in technology, thus boosting opportunities for the global email marketing industry.