When industry is taken into consideration, the marketing automation software market is divided into e-commerce, telecom & IT, hospitality, healthcare, education, government, banking, financial services, & insurance (BFSI), retail, media & entertainment, manufacturing, automotive, and others (which include aerospace, research companies, defense, and logistics). Among these, the largest share of the market was occupied by the BFSI category during the historical period as the expanding BFSI sector is needs to handle a huge amount of data for storing and marketing to target a greater number of prospects for achieving lead conversion.

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One of the major driving factors of the marketing automation software market is the rising adoption of digital marketing. Digital marketing agencies are opting for automation tools increasingly for advertising on different channels and improving the process of lead nurturing. Automation in digital marketing is leading to effective management of repetitive tasks, which can further be utilized in different digital marketing platforms such as e-mail marketing, search engine optimization, and social media marketing. Rising internet penetration has led to the growth of the digital marketing, which has resulted in increasing demand for marketing automation software.

The surging utilization of social media across the world is another primary factor leading to the growth of the marketing automation software market. At the present time, social media platforms such as Facebook and Twitter are the new ways for carrying out social interactions. These platforms provide enterprises with the ability to reach a huge number of potential customers easily. A marketing automation software allows these businesses to generate leads by analyzing and tracking the preferences and activities of users, by using the information that they leave behind while browsing.

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The integration of artificial intelligence (AI) with marketing automation software is creating wide opportunities for the players operating in the marketing automation software market. The integration of AI with marketing automation software can help organizations to better understand the needs of customers, interact with potential customers, translate data into decisions, and positively impact the business outcomes. AI has the ability to enable customer segmentation at a more granular level that can aid the enterprises in targeting customers with more accuracy and optimizing conversion rate.