The global account-based direct mail software market is projected to have a moderate-paced CAGR of 7.4% during the forecast period. The current valuation of the market is USD 775 million in 2022.
The market value of the global account-based direct mail software market is anticipated to reach a high of USD 1.6 billion by the year 2032. The experts of Future Market Insights have recorded a historical CAGR of 8.2% during the period 2015 to 2021.
The growth is supported by the following:
Although the market is anticipated to advance at a healthy pace, there are some aspects that are likely to hinder growth in the projection period. The high cost of investment involved, along with the requirement of service maintenance, is an inhibiting factor identified by the expert analysts at FMI.
Furthermore, automated mail software can turn out to be annoying sometimes for the customers, which may lead to unsubscription of services by them.
| Attributes | Details |
|---|---|
| Global Account-Based Direct Mail Software Market Size (2021) | USD 721 Million |
| Global Account-Based Direct Mail Software Market Size (2022) | USD 775 Million |
| Projected Market Value (2032) | USD 1.6 Billion |
| Global Market Growth Rate (2022 to 2032) | 7.4% CAGR |
| United States Growth Rate (2022 to 2032) | 7.2% CAGR |
| Key Companies Profiled | Sendoso; Alyce; Printfection; PFL Hybrid Experience Platform; Prospect Smarter Inc.; Reachdesk; Postal.io; Xoxoday Plum; Kotis Design; Entheuseum |
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North America is projected to dominate the market size for account-based direct mail software, with a market valuation of USD 440.28 million in 2022. The growth in this region is due to the rising inclination of marketing platforms toward enhanced advertising capabilities.
The small and medium-sized companies in Europe are fostering growth in the region and are likely to create more lucrative opportunities for the prevailing players in the foreseeable years. At present, the European market is projected to reach a valuation of USD 398 million by 2032.
China, from the Asia Pacific region, is expected to have a significant share in the market, advancing at a CAGR of 6.9% during the period 2022 to 2032.
Artificial Intelligence is being integrated by the developers of the account-based direct mail software to improve the efficiency of the software. At every stage of the services, AI-based software is identified to aid in the analysis of customer behavior. It gives real-time insights into the customers, which allows the organizations to predict future behavior and incorporate emails that align with the interests of the customer base.
Furthermore, the deployment of AI in the direct mail software assists the agents in handling and guiding clients with appropriate solutions, along with minimization of customers’ waiting time. This has also led to a reduction of agent support time by 25% in the year 2022. Therefore, with all the advances going around, it is anticipated that the account-based direct mail software market is likely to have substantial growth over the forecast period.
Account-based direct mail software allows businesses to deliver individualized direct mail or present promotions to important customers within specified accounts. Businesses use this software to help expand brand awareness across targeted accounts and increase audience engagement with those accounts.
The Account Based Direct Mail Software Market is mainly expanding due to increased automation in the organization and more engagement with digital marketing. The market is also positively impacted by the adoption of the Internet of Things.
It is expected that in the next decade, cutting-edge technologies such as robots, AI, and augmented reality will account for around 27% of ICT investment, which will help fuel the growth of the Account-based direct mail software market.
Although Account-Based direct mail software has made it easy for businesses to reach their target audience and expand their product awareness, there are a few factors that are hindering the growth of the Account Based direct mail software market.
Mails sent through Account-based direct mail software are often directed as junk mail if the proper words are not used in the mails. Also, due to being an automated mail software, the number of emails sent to an individual may sometimes be annoying to a customer, which may lead them to unsubscribe from the services.
North America has the largest market for Account-Based direct mail software. This is due to the presence of most of the key market players in developed countries like the United States and Canada.
On the other hand, there are some restrictions imposed by the government in the region which are hindering the growth of the market in the region.
CAN-SPAM is applicable to firms situated in the United States that send marketing emails to USA consumers. CAN-SPAM is considered one of the world's oldest email marketing rules. Its regulations were enacted in 2003, following years of email spam. The Canada Anti-Spam Legislation (CASL) is a regulation that does not only apply to enterprises in Canada. CASL will apply to any firm that delivers marketing messages to Canadian people.
Account-Based direct mail software market in Europe is projected to reach a valuation of USD 398 Million by 2032. There exist some government regulations that are slowing down the growth of Account-Based direct mail software in the region. The General Data Protection Regulation (GDPR) is a European policy that applies to all organizations that gather personal information from EU residents.
The United States holds the largest market for Account-Based direct mail software. In the next ten years, the market in the United States is expected to be worth USD 551.6 Million with an absolute dollar opportunity of USD 276.4 Million. From the year 2015 to 2021, the market experienced a CAGR of 7.9% and in the future is expected to experience a CAGR of 7.2% by the year 2032.
In the next ten years, the Chinese market for Account-Based direct mail software is expected to be worth USD 120.4 Million with an absolute dollar opportunity of USD 58.5 Million. The market in China is expected to experience a CAGR of 6.9% during the forecast period.
However, the existence of certain regulations imposed by the Chinese government is slowing down the expansion of the market. Chinese legislation imposes severe penalties for spam emails, and the failure to comply may result in the company's IP or domain being blacklisted, leaving it unreachable from the country forever.
The federal anti-spam legislation, the CAN-SPAM Act of 2003, requires a legitimate "from" email to include an appropriate opt-out link. Additionally, the term "Ad" must also be included in the subject line of promotional emails, according to the regulations.
Large enterprises generate the maximum demand for Account-Based Direct Mail. Revenue through this segment experienced a CAGR of 7.8% from 2015 to 2021 and is expected to experience a CAGR of 7.2% in the next ten years.
Large companies benefit significantly from Account-Based direct mail software since it helps them to easily reach and maintain a good relationship with their large base of customers. Account-based direct mail marketing campaigns are vital for business success, according to 87% retail firms, and they considerably improve the account-based marketing response rate, with over 400% higher replies.
Cloud-based platforms generate the maximum demand for Account-Based direct mail software in the market. Previously, from the year 2015 to 2021, the revenue generated through this segment, experienced a CAGR of 8.0% and is expected to experience a CAGR of 7.3% in the next ten years from 2022 to 2032.
Cloud Based platforms for Account-Based direct mail are more preferred and generate higher revenue in the market. Cloud-based platform is more in demand as it is easily accessible and scalable, especially among small and medium-sized enterprises. It also reduces the cost of operation and the challenges of owning appropriate devices, increasing its demand further in the market.
At present, the Account-Based Direct Mail Software market is moderately competitive and has several new players entering the market. Some of the key players operating in Account-based Direct Maill Software Market include Sendoso, Alyce, Printfection, PFL Hybrid Experience Platform, Prospect Smarter Inc., Reachdesk, Postal.io, Xoxoday Plum, Kotis Design, and Entheuseum.
Some of the recent developments by the key providers of Account-Based Direct Mail Software are as follows:
The global Account-Based Direct Mail Software Market was valued at USD 721 Million in 2021 and is expected to experience an absolute dollar growth of USD 809 Million by 2032.
Over the projected period, the Account-Based Direct Mail Software Market is expected to increase at a CAGR of 7.4%, reaching a value of USD 1.6 Billion by 2032.
The increasing trend for customized promotions and marketing to reach target audience, has been adding significant revenues to the market.
The Account-Based Direct Mail Software Market expanded at a CAGR of 8.2% from 2015 through 2021.
Large Enterprises generate the maximum demand for the Account-Based Direct Mail Software Industry. Revenue through this category expanded at a CAGR of 7.8% from 2015 to 2021, and is projected to grow at a CAGR of 7.2% by 2032.
Sendoso, Alyce, Printfection, PFL, Prospect Smarter Inc., are some of the key players in the Account-Based Direct Mail Software Industry.
The United States has the largest market for Account-Based Direct Mail Software.
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Account-Based Direct Mail Software Market
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