Enjoy complimentary customisation on priority with our Enterprise License!
The influencer marketing platform market size is estimated to grow at a CAGR of 30.9% between 2022 and 2027. The market size is forecast to increase by USD 37.38 billion. The growth of the market depends on several factors, including the increasing number of people adopting digital media, the influencer marketing platforms providing analytical tools and techniques that are utilized in content marketing to track their statistics, vendors adopting strategies such as entering into partnerships and mergers and acquisitions to get a competitive advantage for the market in focus.
This influencer marketing platform market report extensively covers market segmentation by application (fashion and lifestyle, food and entertainment, travel and holiday, sports and fitness, and others), business segment (large enterprise, small, and medium enterprise), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
Providing a huge list of influencers with their statistics is a key factor driving the market growth, although factors such as the growing number of fake followers on social media platforms hinder the growth of the market. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Providing a huge list of influencers with their statistics is the key factor driving the growth of the global influencer marketing platform market. Influencer marketing platforms provide analytical tools and techniques used to track statistics in content marketing. These analyzes of content marketing solutions are used for implementation in a real-time and dynamic framework. Using analytics in conjunction with content marketing helps large and small and medium-sized businesses gain insight into the performance of platforms such as Facebook, Instagram, YouTube, TikTok and Twitter, allowing them to track trends.
Influencers use statistics to improve user engagement on their platform, which helps companies improve their content marketing by understanding their requirements and providing all the necessary information to optimize their marketing strategy. Thus, the aforementioned factors encourage influencers to use influencer marketing platforms for content marketing, which is expected to drive the demand for influencer marketing platforms during the forecast period and further boost the growth of the global influencer marketing platform market.
The increasing popularity of Influencer marketing platforms is the primary trend shaping the global influencer marketing platform market. Companies use influencer marketing platforms to build and improve their brand awareness. Audiences using social media learn about their brand, their story, and the products and services these organizations offer. Therefore, an influencer marketing platform has become essential for businesses to create valuable content that increases visibility on social media.
Influencer marketing helps organizations build third-party credibility and long-term trust with their customer base. Thus, the above-mentioned factors are expected to increase the demand for influencer marketing platforms and drive the growth of the global influencer marketing platforms market during the forecast period.
An increase in the number of fake followers is a major challenge impeding the growth of the global influencer marketing platform market. Influencer marketing technology has grown tremendously as consumers have moved from television to social media and other OTT channels. As a result, organizations are competing to engage with authentic and powerful influencers to promote their products and services and ultimately increase sales. Growing competition has increased the demand for micro and macro influencers. However, due to increasing competition, one of the biggest challenges for organizations has become to identify true influencers with large followings.
To gain access to the benefits of being an influencer, many people buy fake followers or even fully functional Instagram accounts. Many influencers use fake followers through bots to attract big brands by proving their popularity, which in turn hinders the growth of the global influencer marketing platform market as a focus during the forecast period. To address these issues, organizations are deploying audit tools that can identify fake accounts by scanning influencer accounts and showing real and fake follower information.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Influencer Marketing Platform Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AspireIQ Inc.- The company offers an influencer marketing software platform for high-growth e-commerce brands. The company offers influencer marketing platform such as AspireIQ.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the fashion and lifestyle segment will be significant during the forecast period. Influencer marketing allows fashion and lifestyle brands to maximize their reach and promote their products and services in more innovative ways that relate to their brand values. Fashion influencers offer organizations an alternative channel to sell products and better identify audiences.
Get a glance at the market contribution of various segments View the PDF Sample
The fashion and lifestyle segment was valued at USD 1.51 billion in 2017 and continue to grow by 2021. The growing use of social media platforms around the world adds additional benefits to influencer marketing for fashion and lifestyle brands. In addition, the high penetration, use of social media platforms among millennials and the need to adapt to the rapidly changing fashion sense encourages fashion and lifestyle brands to invest more in influencer marketing. These factors are expected to increase the demand for influencer marketing platform and thus propel the growth of the global influencer marketing platform market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth in the number of social media users in the region is expected to increase the adoption of influencer marketing platforms during the forecast period. Additionally, adoption of ad blocking solutions by users is expected to further boost market growth. The increased use of the Internet for advertising has also significantly changed the business models of many organizations and offered new opportunities for marketers to reach their target audience. Such ads allow marketers to deliver personalized ads and improve the customer experience. Therefore, these new ways to brand and promote are expected to increase the demand for influencer marketing platform in the region during the forecast period and thus drive the growth of the regional influencer marketing platform during the forecast period.
Influencer marketing platforms in the region have gained immense popularity during the COVID-19 pandemic since 2020. However, the increased usage of social media during the lockdown in 2020 and Q1 2021 also encouraged the adoption of the influencer marketing platform in the region. Therefore, owing to these reasons, the regional influencer marketing platform market market is expected to grow during the forecast period.
The influencer marketing platform market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the Influencer marketing platform market as a part of the communication services market within the global media and entertainment market. The parent global advertising market covers companies that are engaged in developing and producing advertising, media and entertainment. It also includes companies offering communication services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
|
Influencer Marketing Platform Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
153 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 30.9% |
|
Market growth 2023-2027 |
USD 37.38 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
29.58 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 34% |
|
Key countries |
US, China, Japan, Germany, and UK |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AspireIQ Inc., Captiv8 Inc., Cision US Inc., CreatorIQ, Emplifi Inc, Estalea, ExpertVoice Inc., Fashion GPS Inc., IZEA Worldwide Inc., JuliusWorks Inc., Linqia Inc., Lumanu Inc., Mavrck LLC, Meltwater NV, Modern Agency SAS, Onalytica Ltd., Quotient Technology Inc., Social Beat Digital Marketing LLP, The W Factory LLC, and Upfluence Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Business Segment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
