Influencer Marketing Platform Market Is Expanding At A CAGR Of Over 37% During The Forecast Period

 Influencer Marketing Platform Industry Overview

The global influencer marketing platform market size is anticipated to reach USD 143.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 33.4% during the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing need for end-to-end solutions for managing influencer-generated content, identifying social influencers, and analyzing influencer marketing campaigns. The elevating demand for these solutions across the industries, such as fashion, retail, cosmetics, and e-commerce, is expected to provide promising growth prospects to the influencer marketing platform market.

The market statistics are being further strengthened by the high adoption rate of virtual influencers based on Computer-Generated Imagery. Virtual influencers use demographic and audience data obtained from various platforms and consumer forums to provide more accurate results. In this regard, the fashion and lifestyle industry offers a wide scope for virtual influencers owing to their ability to stay abreast with fast fashion trends and higher creativity.  

The changing content consumption trends are expected to drive the growth of the influencer marketing platform market in the upcoming years. For instance, the increasing demand for Over-The-Top (OTT) media services and their collaboration with influencers for to advertise and promote their content are opening new growth avenues for the influencer marketing platform market.

Apart from the aforementioned factors, the emergence of 5G technologies is also expected to provide an impetus to the influencer marketing platform market. The 5G technology offers improved connectivity and enhances automation of marketing practices, which, in turn, increases media consumption. Besides, 5G will also significantly increase the demand for digital video advertising due to greater bandwidth and connectivity. This will allow influencers to deliver high-resolution 4K video content, faster page loading, and a better click-through rate to the brands.


Influencer Marketing Platform Market Segmentation

Grand View Research has segmented the global influencer marketing platform market based on application, organization size, end-use, and region:


Based on the Application, the market is segmented into Campaign Management, Search & Discovery, Analytics & Reporting, and Influencer Management.

  • The search and discovery segment held a revenue share of around 35% in 2021, thanks to increasing collaborations between brands and influencers for a particular campaign. The search and discovery solutions help companies find the appropriate brand ambassadors using audience demographics, performance, and effectiveness of content.
  • The analytics and reporting segment is expected to register substantial gains over the upcoming years owing to the rising need among companies to analyze the critical factors of promotion campaigns, campaign effectiveness, content penetration, and engagement of influencers.



Based on the Organization Size, the market is segmented into Large Enterprises, and SMEs.

  • The large enterprise segment held a revenue share of more than 70% in 2021, owing to the increasing demand for effective and cost-effective marketing strategies. Several large-scale organizations had restricted their business activities during the pandemic. This subsequently reduced their advertising budget, creating the demand for newer promotion tools and leveraging the internet as a primary channel of marketing.
  • The SME segment is anticipated to record a significant growth rate of around 35.0% during the forecast period. The growth can be credited to the increasing collaboration of these companies with micro-and nano-influencers to create brand awareness and bring traffic to their website at affordable prices.

 


Based on the End-use, the market is segmented into Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle, and Others.

  • The fashion and lifestyle segment accounted for a revenue share of more than 29% across the influencer marketing platform market in 2021. This can be ascribed to the increasing adoption of influencer marketing to meet the rising need for high-end lifestyle and fashion brands to be more approachable to people. 
  • The food and entertainment segment held a significant revenue share of more than 23% in 2021, considering the increasing demand for new and diverse entertainment forms such as Over-The-Top (OTT) platforms, mobile gametournaments, online music events, etc. 

 

Key Companies & Market Share Insights

Various major players operating in the influencer marketing platform market are focusing on the diversification and enhancement of their services. This has helped the companies provide more detailed insights to clients and marketers regarding product sales, thereby helping them make data-driven decisions. For instance, in June 2021, Marriott International, Inc. incorporated the services of Upfluence Inc. to enhance their influencer discovery, marketing, and tracking of their global campaign. Some prominent players operating in the global influencer marketing platform market are:

  • Upfluence Inc.
  • Speakr Inc.
  • AspireIQ
  • Grapevine Logic Inc.
  • Mavrck
  • Klear
  • NeoReach
  • Traackr Inc.
  • Webfluential
  • Hypetap Pty Ltd.

 

Order a free sample PDF of the Influencer Marketing Platform Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

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