According to a market research report “Influencer Marketing Platform Market by Component, Application (Search and Discovery, Campaign Management, Influencer Relationship Management, and Analytics and Reporting), Organization Size, End User, and Region – Global Forecast to 2025″, published by MarketsandMarkets, the global Influencer Marketing Platform Market size to grow from USD 6.0 billion in 2020 to USD 24.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 32.0% during the forecast period. Various factors, such as the customers’ shift toward video-based content across the OTT space and an increase in the adoption of ad-blocking software are expected to drive the adoption of the Influencer Marketing Platform Market.
Browse and in-depth TOC on “Influencer Marketing Platform Market”
150 – Tables
39 – Figures
207 – Pages
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COVID-19 has shocked the entire world. Many businesses are
fighting to survive and are using different marketing strategies to recover the
loss. As per the Global Web Index survey, over 80% of consumers in the US and
UK say they’ve consumed more content during COVID-19. This has posed a good
opportunity for brands and influencers to engage with their audiences with
impactful messaging. The importance of influencer marketing as a core marketing
strategy has grown during the COVID-19 crisis. Companies must continue to
depend on influencers to act as their spokespeople and execute their messaging
in a trustworthy and human way. The effects of COVID-19 will be long-term, and
as a result, marketing strategies must be revised to suit the new environment
in which smaller and larger companies are surviving currently. Through the
personal views and support of followers, influencers will continue to shape the
conversations occurring in the post-lockdown world.
The solution segment to hold a larger market size during the forecast period
The Influencer Marketing Platform Market, by component, has been segmented into
solutions and services. The solution segment is expected to grow rapidly in the
coming years in the Influencer Marketing Platform Market as influencer
marketing is increasingly becoming a necessity for marketers. Collaborating
with influencers can help create online buzz about the company’s brand. In
addition, it can strengthen the brands reputation, improve audience engagement,
and increase conversions.
The health and wellness end-user segment to hold higher CAGR during the
forecast period
The Influencer Marketing Platform Market by end-user has been segmented into
fashion and lifestyle, agencies and PR, retail and consumer goods, health and
wellness, ad-tech, banking and finance, travel and tourism, and other end users
(gaming and pet care). The health and wellness end-user segment is expected to
hold higher CAGR during the forecast period in the Influencer Marketing
Platform Market. Health and wellness brands have seen better results from
influencer marketing when partnering with influencers on a long-term basis.
This mindset shift sees influencers act like creative partners rather than paid
sponsors. Health and wellness brands opting for niche influencers attract a
hyper-targeted, mobilized audience, which serves as an important factor for the
growth of influencer marketing solution in the health and wellness end user
segment.
Among applications, the influencer relationship management segment to grow
at a higher CAGR during the forecast period
The application segment of the Influencer Marketing Platform Market includes
search and discovery, campaign management, influencer relationship management,
analytics and reporting, compliance and fraud detection, and other applications
(workflow automation and time management, and third-party integration).
Organizations work with various social media personalities to promote their
brands through influencers’ social media accounts. This enhances brand
awareness, customer reach, and brand value among the followers of influencers.
Influencers play a vital role while conducting influencer marketing campaigns
leading to the growth of influencer relationship management application.
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North America to hold the largest
market size during the forecast period
North America is expected to have at the
largest market size during the forecast period. The continuous adoption of
influencer marketing platform solution and services across all the major end
users is expected to drive the market growth in North
America. The governments in North America are
focusing and investing substantially in AI and ML technologies, while they are
also reaping the benefits of influencer marketing platforms in the US and Canada.
APAC is projected to grow at the highest CAGR during the forecast period due to
the rising number of social media users in the region. The influencer market
has increased in APAC due to the growing population and the fact that APAC is a
mobile-first region. With its youthful demos and an increase in use and speed
of social platforms, Asia has become
the perfect environment for influencer marketing leading to the growth of the
Influencer Marketing Platform Market in APAC.
Major vendors in the global Influencer Marketing
Platform Market include IZEA Worldwide (US), Quotient Technology Inc.
(US), Launchmetrics (US), JuliusWorks, Inc. (US), Traackr, Inc. (US), Upfluence
Inc. (US), Klear (US), AspireIQ (US), CreatorIQ (US), Mavrck (US), Impact Tech,
Inc. (US), Brandwatch (UK), Linqia, Inc. (US), Onalytica (UK), Social Beat
Digital Marketing LLP (India), ExpertVoice Inc.
(US), Lefty (France), Lumanu Inc. (US),
InfluencerDB (Germany), Taggermedia (US), Heepsy
(Spain), Fourstarzz Media LLC (US), Juulr B.V. (The Netherlands), Intellifluence (US), Insense Ads,
Inc. (US), Talent Village Ltd. (UK), The Room (UK), Blogmint (India), Zine Ltd. (UK), and Captiv8 Inc. (US).
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