Influencer Marketing Platform Market

Influencer Marketing Platform Market registered a revenue of USD 7.9 billion in 2021 and is projected to reach USD 70.6 billion in 2029, growing at a CAGR of 31.5% during the forecast period from 2022-2029.

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Key Drivers

Increasing demand for the content-based band live interactive video sessions, growing social media subscribers, increasing smartphone users and rising penetration of high-speed internet are the major factors that are driving the market growth of influencer marketing. In addition, reducing data streaming costs and increasing adopting od ad-blocking software is also propelling the market growth. The direct marketing requires more time, money and personal attention to save time brands are looking for the right influencer, which increases the demand for influencer marketing platforms. Additionally, increasing integration of advanced technology like AI, big data, data analytics, machine learning, etc. are creating opportunities for influencer marketing platform providers. Growing demand for OTT based content from platforms including Amazon, Hotstar, Twitter, Amazon Prime, and YouTube and the introduction of 3G, 4G, and 5G technology will support the market growth. For example, the Over the Top (OTT) video Market reached a value of USD 275 billion in 2022 and is forecast to reach USD 470 billion by 2027, exhibiting a CAGR of 11 %, which will stimulate the market growth in coming years. Other factors which include the growing awareness amongst end-users about the benefits of influencer marketing platforms, improvements in the internet services, and the rising adoption of social search optimization and social search engine (SSE) to help influencers in optimizing digital media content and expand their reach are expected to fuel the market growth. Increasing adoption of influencer marketing platforms by fashion brands to promote their products is another factor strengthening the market growth. However, increasing security and privacy concerns, insufficient means to measure the effectiveness of the campaign, lack of technological expertise, might restrict the market growth over the forecast period.

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Application Insights

Search and discovery application is estimated to lead the market over the forecast period, owing to the ability of the tools to provide comprehensive information like professional, geographic, and personal data, interest areas, traffic history etc. in order to help companies find appropriate brand ambassadors. For example, HypeAuditor offers adequate search and discovery features for various social media platforms, like TikTok, Instagram, and YouTube. Analytics and reporting application will grow at a faster CAGR, primarily due to the growing need to interpret the campaign efficiency, content penetration, and engagement of influencers, thus, allowing organizations to change the content as per their requirements.

End-use Insights

Fashion and lifestyle end-use application is expected to grow at a higher CAGR over the forecast period, due to the growing adoption of influencer marketing to cater the growing need for high-end lifestyle and fashion brands. Due to the growing popularity of several social media platforms like YouTube, twitter, and Snapchat, different fashion companies have employed influencers to advertise new clothes and accessories, helping people to be updated with the latest fashion trends, which is likely to drive the market growth.

The food and entertainment application is predicted to witness a faster CAGR over the forecast period. A rapid increase in screen time among millennials has augmented the deployment of influencer marketing platforms across the food and entertainment companies to promote new online events, which is proliferating the segment’s growth. Additionally, growing demand for new and diverse forms of entertainment forms including mobile game tournaments, Over-The-Top (OTT) platforms, and online music events, have stimulated the market size.

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Regional Analysis

North America is expected to hold the largest share in the market, due to the increasing demand for OTT platforms and social media in the U.S. Increasing adoption of influencer marketing platforms across various end-user industries including retail, healthcare, travel, and food and entertainment will pave the way for regional expansion. Besides, the availability of a skilled workforce involved in digital marketing, platform development, and AI-based analytics will augment the market growth.

Various notable players in the Influencer Marketing Platform market include Izea, Hypr, Traackr, InfluenerDB, Julius Works Inc., Launch Metrics, Onaltica, Upfluence, Lingia, Inc., and Lumanu Inc. and among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.

The Global Influencer Marketing Platform market has been segmented on the basis of Component, Organization Size, application, end-user and Geography. Based on component market is categorized into Solutions and Services. Based on organization size market is segmented into Small and Medium-sized Enterprises and Large Enterprises. Based on application, the market is segmented into Search and Discovery, Campaign Management, Influencer Relationship Management, Analytics and Reporting, Compliance Management and Fraud Detection and Others. Based on the end-user market is categorized into Fashion and Lifestyle, Retail and Consumer Goods, Health and Wellness, Ad-Tech, Travel and Tourism and Others and by geography.

The research report “Global Influencer Marketing Platform market” provides an in-depth analysis of the global Influencer Marketing Platform market based on component, organization size, application, end-user and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Influencer Marketing Platform market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.

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Key questions answered in this research report:

• • At what pace is global Influencer Marketing Platform market growing? What will be a growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Influencer Marketing Platform market?
  • What are the various application areas and how they are poised to grow?

Market Segmentation

Global Influencer Marketing Platform Market by Component

• • Solutions
  • Services

Global Influencer Marketing Platform Market by Organization Size

• • Small and Medium-sized Enterprises
  • Large Enterprises

Global Influencer Marketing Platform Market by Application

• • Search and Discovery
  • Campaign Management
  • Influencer Relationship Management
  • Analytics and Reporting
  • Compliance Management and Fraud Detection
  • Others

Global Influencer Marketing Platform Market by End-User

• • Fashion and Lifestyle
  • Retail and Consumer Goods
  • Health and Wellness
  • Ad-Tech
  • Travel and Tourism
  • Others

Global Influencer Marketing Platform Market by Region

• • North America Global Influencer Marketing Platform Market (Option 1: As a part of the free 25% customization)
    • By Manufacturing
    • By Application
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Global Influencer Marketing Platform Market (Option 2: As a part of the free 25% customization)
    • By Manufacturing
    • By Application
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Global Influencer Marketing Platform Market (Option 3: As a part of the free 25% customization)
    • By Manufacturing
    • By Application
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global Influencer Marketing Platform Market (Option 4: As a part of the free 25% customization)
    • By Manufacturing
    • By Application
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading Market Players

• • Izea, Hypr
  • Traackr
  • InfluenerDB
  • Julius Works, Inc.
  • Launch Metrics
  • Onaltica
  • Upfluence
  • Lingia, Inc.
  • Lumanu Inc.