Influencer Marketing Platform Market

Global Influencer Marketing Platform Market Size (2024 to 2029)

The global influencer marketing platform market was valued at USD 7.92 billion in 2023 and USD 41.90 billion by 2029, growing at a CAGR of 32% during the forecast period.

The Influencer Marketing is amalgamation of the idea of conventional celebrity endorsements and contemporary content driven marketing campaigns in which this term has swiftly transitioned from a mere buzzword to being incorporated into mainstream branding strategies. The influencer marketing platform acts as a direct consequence of increasing number of followers of the social media influencers and their ability to impact the purchasing behaviour of their followers The growing of customers shift towards video-based content across the OTT space is a factor that is expected to lead the Influencer Marketing Platform market during the forecast period.

Global Influencer Marketing Platform Market Drivers:

Several benefits such as increasing adoption of ad-blocking software, growing smartphone adoption rate is expected to play an essential role in the growth of market of Influencer Marketing Platform across the globe. Another factor such as increasing of penetration of 5G, increasing of internet penetration and connected devices across the globe which influence the growth of Influencer Marketing Platform market during the forecast period. Increasing of investments by the major market players for advanced technologies and the way of advertisement has empowered the brands across the globe to run a program that activates thousands of influencers in a cost-effective manner are some of the major driving factors which promotes the growth of the revenue rate of Influencer Marketing Platform market during the forecast period.

Global Influencer Marketing Platform Market Restraints:

Lack of capabilities to measure the campaign effectiveness, stringent government regulations are some of the major restraints which effects the growth of the market of Influencer Marketing platform.

Impact of COVID 19 on the global influencer marketing platform market:

Due to the COVID 19 pandemic, almost all the industries have faced a lot of problems due to the lockdown situations imposed by the respective government authorities to reduce the spread of the corona virus. Because of the lockdown situations, the influencer marketing platform has a good opportunity to engage with the audiences with impactful messaging which helped the market to grow further. The market of Influencer marketing platform will have an impeccable growth rate in the upcoming years to come.

GLOBAL INFLUENCER MARKETING PLATFORM MARKET REPORT COVERAGE:

The Influencer Marketing Platform market is segmented based on component, based on application, based on organization size and based on end user.

Global Influencer Marketing Platform Market - By Component:

• Solutions  

• Services   

the Influencer Marketing Platform Market is divided into two types’ solutions and services. The services segment is again bifurcated into consulting, deployment and integration, support and maintenance.

Global Influencer Marketing Platform Market - By Application:

• Search And Discovery          

• Campaign Management    

• Influencer Relationship Management           

• Analytics And Reporting      

• Compliance Management and Fraud Detection        

• Workflow Automation and Time Management          

• Third Party Integration       

the Influencer Marketing Platform Market is divided into search and discovery, campaign management, influencer relationship management, analytics and reporting, compliance management and fraud detection, workflow automation and time management, third party integration. The search and discovery segment holds the major share of the market and this segment is expected to hold the dominance during the forecast period since it enables the companies to find right brand ambassadors using several filters such as audience demographics, effectiveness of content and performance.

Global Influencer Marketing Platform Market - By Organization Size:

• Large Enterprises  

• Small And Medium Size Enterprises

the Influencer Marketing Platform Market is divided into large enterprises and small & medium size enterprises. The large enterprises segment held prominent share of the market among the other segments owing to the increasing need to deploy the cost effective and efficient marketing strategies.

Global Influencer Marketing Platform Market - By End Use:

• Fashion and Lifestyle            

• Agencies and Pr    

• Retail and Consumer Goods              

• Health and Wellness            

• Ad-Tech    

• Banking and Finance           

• Travel and Tourism

• Gaming     

• Pet Care   

the Influencer Marketing Platform Market is bifurcated into fashion and lifestyle, agencies and PR, retail and consumer goods, health and wellness, Ad-tech, banking and finance, travel and tourism, gaming and pet care. Among these segments, the fashion and lifestyle segment hold the major share of the market owing to the rising need for high end life style and fashion brands to be more approachable for the people to create closer interactions with them.

Global Influencer Marketing Platform Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America region hold the prominent share of the market due to the deployment of work from home and subsequent adoption of social media and OTT platforms as means of entertainment by individuals. Availability of significant talent pool in platform development, AI based analytics, digital marketing in the region especially in some of the countries such as US, Canada and Mexico propels the growth of the market. The North America region is expected to hold the dominance during the forecast period.

Europe region is also expected to increase the market growth due to the rising deployment of automated systems in Nordics propels the growth of the revenue rate of the enterprises software market during the forecast period. Furthermore, the increasing of investments by the major key players of the market for R & D activities and also for the new advancements in the technology is also one of the major driving factors which promotes the growth of the revenue rate of the Influencer Marketing Platform market.

Asia Pacific region will gain good profits of the market followed by North America region and Asia Europe region during the outlook period.

Middle East and Africa and Latin America are expected to grow at steady pace in the foreseen years.

Key Players:

Key market participants of Influencer Marketing Platform market are Traackr, Inc.(US), Upfluence Inc. (US), Klear (US), AspireIQ (US), CreatorIQ (US), Mavrck (US), Impact Tech, Inc. (US), Brandwatch (UK), IZEA Worldwide (US), Quotient Technology Inc. (US), Launchmetrics> (US), JuliusWorks, Inc.(US), Linqia, Inc. (US), Onalytica (UK), Social Beat Digital Marketing LLP (India), ExpertVoice Inc. (US), Lefty (France), Lumanu Inc. (US), InfluencerDB (Germany), Taggermedia (US), Insense Ads, Inc. (US), Talent Village Ltd. (UK), The Room (UK), Blogmint (India), Zine Ltd. (UK), and Captiv8 Inc. (US), Heepsy (Spain), Fourstarzz Media LLC (US), Juulr B.V. (The Netherlands), Intellifluence (US), and others.

Recent Developments:

• Launchmetrics Company has acquired Parklu Company from China in the month of November 2020 in which this acquisition will help the company to develop a foothold in China as the country cements its dominance in the global market.

• Upfluence Company has integrated its software with Klaviyo marketing platform in the month of October 2020 which will help to boost the eCommerce marketing processes by improving the insight and targeting.

• In the month of March 2020, IZEA worldwide has launched BrandGraph which acts as a social media intelligence platform for social media marketers in which the engine currently processes over 400 million pieces of content across 4, 5 million users globally.

• Ahalogy Company has launched rising keywords which was a new feature for its muse platform in the month of September 2019, which will help to predict the future trends on social platforms.