Global Influencer Marketing Platform Market was valued at US$ 8,393.4 Mn in 2021 and is projected to reach US$ 90,238.9 Mn by 2030. The market is registering a CAGR of 30.81% during the forecast period 2022-2030. The growing use of the internet for advertising practices has revolutionized business models and generated alternate revenue streams. The easy availability of high-speed and affordable internet services for customers offers marketers a new channel to reach out to target audiences, which has led to the rise of influencer marketing practices. Social media portals such as Facebook, Instagram, YouTube, and Pinterest are perceived as the ideal platforms for marketing purposes. The continuously increasing user base of these social media apps has helped marketers to increase customer engagement and understand their pain points via influencers’ interactions. Over the last few years, brands have started looking beyond traditional celebrities and have collaborated with online celebrities/influencers for endorsing their products. This is due to the increasing number of followers of these influencers on social media and their ability to impact the purchasing behavior of their followers/fans. According to a study conducted by Twitter and Annalect, 40% of Twitter users utilize tweets to make purchasing decisions. Influencer marketing sites provide brands and companies with powerful research resources, some also have comprehensive, searchable databases of potential influencers with sophisticated algorithms.
The growing impetus of the market is attributed to the customers’ shift towards video-based content across the OTT space. With the increasing use of smartphones and 3G and 4G networks, video consumption has grown tremendously in the last few years. Therefore, organizations are designing marketing strategies for video-based content streaming across digital channels. As per a Google study in 2017, YouTube is the second-most used search engine across the world. Moreover, as the television viewership reduced by 50% among the age group of 18–26 in 2017, video-based marketing increased from 63% in 2017 to 81% in 2018, according to Wyzowl‘s statistics. Therefore, organizations are unable to target their potential consumers through traditional marketing techniques and hence, are moving towards the influencer marketing technique that enables them to target potential buyers. However, the lack of capabilities to measure campaign effectiveness hampers the market growth.
Key Insights of the Report:
Key Takeaways from the Global Influencer Marketing Platform Market Report
Competitive Dashboard
The key players in the Global Influencer Marketing Platform Market are Activate, Brandwatch, CreatorIQ, Grin, and Impact Tech, Inc. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The following are the different segments of the Global Influencer Marketing Platform Market:
By Component segment of the Global Influencer Marketing Platform Market is sub-segmented into:
By Function (Module) segment of the Global Influencer Marketing Platform Market is sub-segmented into:
By Subscription Plan segment of the Global Influencer Marketing Platform Market is sub-segmented into:
By Enterprise Size segment of the Global Influencer Marketing Platform Market is sub-segmented into:
By Industry segment of the Global Influencer Marketing Platform Market is sub-segmented into:
By Region segment of the Global Influencer Marketing Platform Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 8,393.4 Mn |
Expected Revenue in 2030 | US$ 90,238.9 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Unit | Value (USD Mn) |
CAGR | 30.81% |
Segments covered | By Component, Function, Subscription Plan, Enterprise, Industry, and Region |
Key Companies | Activate, Brandwatch, CreatorIQ, Grin, Impact Tech, Inc., and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Global Influencer Marketing Platform Market was valued at US$ 8,393.4 Mn in 2021.
Global Influencer Marketing Platform Market is estimated to expand at a CAGR of 30.81% over the forecast period 2022-2030.
The growing impetus of the market is attributed to the customers’ shift towards video-based content across the OTT space.
Emergence of influencer networks is a key trend in the influencer marketing platform market.
The lack of capabilities to measure campaign effectiveness hampers the market growth.
The influencer marketing platform market is segmented based on component, function, subscription plan, enterprise size, industry, and region.
The major industries in the influencer marketing platform market are retail & e-commerce, consumer goods & services, healthcare, hospitality, and tourism among others.
Software component dominates the influencer marketing platform market in 2021.
Large enterprises have the highest share in the influencer marketing platform market in 2021.
Consumer goods & services the highest end user industry in the influencer marketing platform market.
North America dominates the global influencer marketing platform market.
The key players dominates the global influencer marketing platform market are Activate, Brandwatch, CreatorIQ, Grin, and Impact Tech, Inc. among others.