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The influencer marketing platform size is forecast to increase by USD 52.23 billion, at a CAGR of 32.07% between 2023 and 2028. The market growth is significantly influenced by platforms providing a wide array of influencers along with their statistics, facilitated by analytical tools for tracking. These analytics enable real-time execution within dynamic frameworks. Another driving force behind market expansion is the establishment of customer trust and brand image through these platforms. Enterprises capitalize on them to enhance brand awareness, ensuring that their target audience on social media becomes familiar with their brand, narrative, and offered products/services.
AI-driven solutions, including generative AI and ML algorithms, empower businesses to connect with niche communities through engaging content, fostering transparency, and authenticity in influencer partnerships. Micro and nano influencers, backed by AI technologies like HypeAuditor, offer trust and credibility, combating influencer fraud and ensuring diverse representation in B2B and B2C sectors such as Fashion & Beauty, Gaming, and Travel and Lifestyle.
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The large enterprise segment is estimated to witness significant growth during the forecast period. These platforms are leveraged by large enterprise segments to increase brand awareness, connect with their audience, and convert leads. In addition, these companies operate on a large scale, so they need platforms that provide powerful tools to manage complex campaigns across multiple regions and demographics. Furthermore, these platforms provide large enterprises with analytical tools and algorithms for their brands and also offer massive searchable databases.
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The large enterprise segment was the largest segment and was valued at USD 2.99 billion in 2018. Moreover, one of the most important things that distinguishes this platform from other platforms is the focus on data and performance analytics. In addition, large enterprises need powerful analytics tools that give them real-time insights into how well their influencer collaborations are performing so they can optimize their influencer relationships strategies in real time. Furthermore, for large enterprises, tracking and measuring return on investment (ROI) is critical, so they need a data-first approach to their strategies. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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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 increasing number of social media users in the region is expected to fuel the adoption of these platforms in North America. Moreover, the growing implementation of ad-blocking solutions by users across the region is further expected to drive the growth of the market. In addition, the increased application of the Internet for advertisements has significantly transformed the business models of many organizations and has provided marketers with new means to reach out to their target audiences. Therefore, such promotional activities allow marketers to provide personalized advertisements as well as enhance the customer experience. Hence, such factors are driving the market growth in North America during the forecast period.
The market experiences notable growth driven by the availability of extensive lists of influencers with their performance metrics. These platforms provide analytical tools to track influencer statistics and execute dynamic content solutions in real-time. Furthermore, they foster customer trust and brand image establishment. Enterprises utilize these platforms to enhance brand awareness among their target audience on social media, enabling them to learn about the brand, its story, and offered products/services.
However, a significant challenge hindering market growth is the lack of awareness about technologies. While social media's rapid growth presents challenges for influencers in managing their brand and content, the absence of technology awareness complicates content creators' and enterprises' platform selection for campaigns. Choosing the right platform directly affects search and discovery, campaign management, and ROI analysis. Leveraging generative AI and ML algorithms, businesses can create engaging content tailored to niche communities, ensuring transparency and authenticity in influencer partnerships. Micro-influencers, empowered by platforms like HypeAuditor, contribute to brand trust and credibility, mitigating influencer fraud and promoting Diversity, Equity & Inclusion (DEI) in B2B and B2C sectors such as Fashion & Beauty, Gaming, and Travel and Lifestyle.
One of the key factors driving the market growth is the provision of a huge list of influencers with their statistics. These platforms offer analytical tools and techniques that are utilized to track their statistics. In addition, these analytics in content-d solutions are used to execute in real-time and in a dynamic framework.
Moreover, the use of analytics helps large small, and medium enterprises to provide a snapshot of activities on platforms such as Facebook, Instagram, YouTube, TikTok, and Twitter, which enables them to track trends. In addition, the influencers use statistics to improve user engagement on their platform which helps enterprises in improving content by understanding their requirements and providing all the information needed to optimize their strategy. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is that these platforms gain customer trust and create a brand image. Enterprises are leveraging these platforms with the motive to create and improve their brand awareness. In addition, a target audience that uses social media gets to know their brand, story, and the products and services being offered by these organizations.
Therefore, it has become key for several enterprises to create valuable content that enhances social media presence. In addition, it helps organizations build third-party credibility and long-lasting trust with their customer base. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.
Lack of awareness about technologies is one of the key challenges hindering the market growth. The significant growth of social media can be challenging for influencers to manage their brand and content. However, a lack of awareness of technologies makes it challenging for content creators and enterprises to choose the right platform for a campaign. Furthermore, selecting the right platform directly impacts search and discovery, campaign management, and ROI analysis.
Moreover, the changing algorithms on social media platforms can negatively impact the execution of campaigns. Therefore, a lack of awareness about technologies negatively impacts the demand for these platforms, and thereby, it is expected to hinder the growth of the global influencer market during the forecast period.
The market research growth and trends 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
Companies 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 platform such as AspireIQ. It also offers fully customizable relationship workflows, brands to build a unique influencer program, relationship management, and measurement ROI.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In today's digital landscape, influencer marketing platform plays a pivotal role in connecting brands with their target audiences. Leveraging the power of digital media, these platforms emphasize trust and credibility by facilitating partnerships with influencers who hold sway over niche communities. Unlike traditional advertising, influencer marketing thrives on transparency and authenticity, ensuring that content from written content to video content resonates with audiences.
Utilizing AI-driven solutions such as generative AI, platforms combat influencer fraud and identify suitable micro-influencers across various social media channels. They foster strong influencer relationship management to drive results in sectors like retail & ecommerce, employing robust analytics and feedback mechanisms to track leads generation, customer referrals, and reviews.
From captivating stories to encouraging social sharing, influencers wield significant influence, transcending industries like Hollywood, fashion & beauty, gaming, travel and lifestyle, family, parenting & home, and health and fitness. Platforms like HypeAuditor prioritize diversity, equity & inclusion (DEI), catering to both B2B and B2C markets.
By harnessing the power of AI (Artificial Intelligence) and ML (Machine Learning), these platforms deliver measurable ROI (Return on Investment) through UGC (User Generated Content) and smartphones, offering a comprehensive suite of services for online platforms and the public. From boosting engagement rate to driving sales, influencer marketing hub platforms are instrumental in elevating engaging content creation and fostering meaningful customer engagement, especially in the fashion & lifestyle industry.
This market report forecasts market growth analysis by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Influencer Marketing Platform Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 32.07% |
Market Growth 2024-2028 |
USD 52.23 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
30.84 |
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 Companies, Market Positioning of Companies, 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., LLP, The W Factory LLC, and Upfluence Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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 End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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