Published Date : Oct 25, 2016
Email marketing has emerged as a widely adopted marketing strategy across businesses around the world. With an increasing number of businesses, irrespective of their size, looking to capitalize on the potential benefits of the technology, there is great possibility for the global email marketing industry to surge in the near future. Driven by the increasing number of internet users and service providers, the global email marketing industry is poised to exhibit a CAGR of 20% between 2012 and 2018. At this rate, the market is expected to reach US$6.5 bn by the end of 2018.
Rapid Proliferation of Smartphones to Encourage Businesses Adopt Email Marketing
According to reports, globally there are over 2.27 million internet users. Despite this huge number, their still remains a huge potential for the number of internet users to surge in the near future. Furthermore, with the rapid proliferation of smartphones, accessing the required information has become easier than ever. This has encouraged businesses more to opt for innovative email marketing strategies to gain traction. Asia Pacific currently boasts the highest number of internet users, despite which the penetration of internet is low compared to that of North America. Nevertheless, Asia Pacific holds strong potential for the growth of the internet in the region and has thus emerged as a lucrative market for email marketing.
Rising Mobile Users Create Gateway for Email Marketing
The global email marketing industry is also expected to gain from the rising number of mobile users worldwide. This has created a new gateway for promoting email marketing. However, the industry is facing challenge from companies operating in the unorganized sector. Furthermore, developing an industry requires niche strategies, and email marketing is not considered a very viable option in this regard. Additionally, the rising safety concerns and issues relating to cybercrimes are hampering the market’s growth. Privacy concerns and stringent regulations as well have a negative impact on the global email marketing market.
In order to counter these bottlenecks, leading companies such as Yahoo!, Windows Live Hotmail, and Gmail are developing strategies to make the Web space safer. Such innovations are expected to propel the market’s growth in the coming years.