Global Influencer Marketing Platform Market - Industry Trends and Forecast to 2029

Global Influencer Marketing Platform Market, By Component (Solution, Services), Application (Search and Discovery, Campaign Management, Influencer Relationship Management, Analytics and Reporting, Compliance Management and Fraud Detection, Others), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), End-User (Fashion and Lifestyle, Agencies and Public Relations, Retail and Consumer Goods, Health and Wellness, Ad-Tech, Banking and Financial Institutes, Travel and Tourism, Others) – Industry Trends and Forecast to 2029.

Influencer Marketing Platform Market Analysis and Size

With the advancement of internet speed and the availability of low-cost streaming, the demand for video content is skyrocketing. Most social media influencers utilize video content to influence their audience. Previously, YouTube had a video focus, but now significant players such as Instagram, Facebook, LinkedIn, Twitter, and others are catering to video content. Influencers are increasingly using video to reach out to their audiences. Influencers show their audience the latest trends in their niche and typically lead the charge when social network adds a new feature. Influencer marketing platform markets are increasingly posting video content across social platforms.

Data Bridge Market Research analyses that the influencer marketing platform market was valued at USD 7.36 billion in 2021 and is expected to reach the value of USD 69.92 billion by 2029, at a CAGR of 32.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Influencer Marketing Platform Market Scope and Segmentation

Market Definition

An influencer marketing platform is a solution that is specifically designed to assist brands with their influencer marketing campaigns. They are widely used in a variety of applications, including campaign management, analytics and reporting, fraud detection, and influencer relationship management. This platform aids in the creation of brand image among the population as well as in reaching the target audience.

Global Influencer Marketing Platform Market Dynamics

Drivers

• Growing culture of direct marketing

The major factors driving the market growth of influencer marketing are increasing demand for the content-based band live interactive video sessions, growing social media subscribers, increasing smartphone users, and increasing penetration of high-speed internet. Furthermore, lower data streaming costs and increased adoption of ad-blocking software are propelling market growth. Direct marketing necessitates more time, money, and personal attention. To save time, brands look for the right influencer, increasing the demand for influencer marketing platforms. Furthermore, the increased integration of advanced technology such as AI, big data, data analytics, machine learning, and so on is creating opportunities for influencer marketing platform providers.

• High penetration of OTT platforms

Increased OTT platforms and social media consumption will drive up influencer marketing demand. Consumption of smartphones, tablets, and laptop computers has skyrocketed in the last 4-5 years. Furthermore, advancing technology such as 3G, 4G, and 5G will aid in the growth of influencer marketing. The evolution of social media platforms such as Facebook, Twitter, and YouTube has decreased television viewership in recent years. OTT platforms such as Netflix, Amazon Prime, Disney Hotstar, and others are also becoming more popular. As a result, the increased use of social media platforms has become one of the major driving factors of influencer marketing.

Opportunities

• Branding

Increased use of the influencer marketing platform to gain customer trust and create a new brand image, as well as increased use of the influencer marketing platform to increase demand for big data analytics, AI, and ML, will create new opportunities for the influencer marketing platform market during the forecast period.

Restraints

• Lack of awareness

However, among other things, less influence of campaigns, lack of technological awareness, and a rise in the availability of limited professionals are the major factors restraining market growth. They will further challenge the influencer marketing platform market during the forecast period.

This influencer marketing platform market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the influencer marketing platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Influencer Marketing Platform Market

The COVID-19 outbreak has resulted in the temporary closure of several businesses as well as social isolation from the outside world. Numerous measures have been put in place to control the spread of the coronavirus. Similarly, the marketing landscape has undergone multiple transformations as a result of social distancing and quarantine, which have altered the traditional way of life. As marketing budgets are being cut, brands focus on digital marketing methods such as emails, social media, and influencer marketing. The preventive strategies put in place have hampered the influencer marketing industry's operations. Social media content creators are changing their content to keep their audience engaged. For example, travel restrictions have forced the hospitality industry to cut marketing spending, affecting the social media presence of travel influencers. Furthermore, food bloggers are having difficulty updating their social media feeds. As a result, the COVID-19 pandemic has compelled influencers and brands to evaluate and restructure their marketing strategies to maintain user engagement. Even though the COVID-19 pandemic has resulted in fewer brand collaborations, digital platforms have exploded in popularity. This is primarily due to the extraordinary increase in social media platform consumption during people's practise of social distancing. Influencers now have the opportunity to keep their active audience engaged with creative and positive content, thanks to the increased use of social media.

Global Influencer Marketing Platform Market Scope

The influencer marketing platform market is segmented on the basis of component, application, organization size and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Solution
• Services

Application

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

Organization size

• Small and medium enterprises
• Large enterprises

End users

• Fashion and Lifestyle
• Agencies and Public Relations
• Retail and Consumer Goods
• Health and Wellness
• Ad-Tech
• Banking and Financial Institutes
• Travel and Tourism
• Others

Influencer Marketing Platform Market Regional Analysis/Insights

The influencer marketing platform market is analysed and market size insights and trends are provided by country, component, application, organization size and end-user as referenced above.

The countries covered in the influencer marketing platform market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the influencer marketing platform market due to the region's increased adoption of advanced technologies, increased need for big data analytics for influencer marketing, increased need to create brand image, and increased adoption of ad-blocking software.

Asia-Pacific is expected to be the fastest growing region in terms of the influencer marketing platform market because of the increased adoption of advanced technologies and the growing number of social media users in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Influencer Marketing Platform Market Share Analysis

The influencer marketing platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to influencer marketing platform market.

Some of the major players operating in the influencer marketing platform market are:

• Impact Tech, Inc. (U.S.)
• LINQIA, INC. (U.S.)
• IZEA (U.S.)
• JuliusWorks, Inc. (U.S.)
• Quotient Technology Inc. (U.S.)
• Traackr. (U.S.)
• Launchmetrics (U.S.)
• ExpertVoice, Inc. (U.S.)
• FOURSTARZZ MEDIA LLC (U.S.)
• Talent Village Ltd. (India)
• Tagger Media Inc. (U.S.)
• Blogmint Digital Pvt. Ltd.(India)
• Upfluence (U.S.)