Global Influencer Market by Organization Size (large enterprises, small and medium enterprises), Application (search and discovery, campaign management, analytics and reporting, influencer management and others), End-use (fashion and lifestyle, sport and fitness, food and entertainment, travel and holiday, and others), and Region (North America, the Middle East & Africa, Europe, Asia-Pacific, and South America), Global Forecast 2020 - 2030

Digital revolution and media landscape undergoing major revolution is driving the global influencer marketing platform market.

The global Influencer market is expected to develop $33.20 billion by 2030, at a compound annual increase in price (CAGR) of 38.2% throughout the forecast period.

Covid-19 Impact & Market Status

During the COVID-19 crisis, influencer marketing has become a key component of marketing strategy. Influencers must be relied upon by businesses to communicate their messages in a trustworthy and humane manner and serve as their spokes person. Because TikTok is one of the most widely used platforms for watching videos, brands and influencers need to figure out how to get more visibility on this relatively recent platform. Influencers will continue to impact debates in the post-lockdown world through the personal opinions and support of followers. Because COVID-19's impacts will last for a while, marketing plans need to be adjusted to the new climate that both small and large businesses are presently operating in.

The Large Enterprise Segment Held the Largest Revenue Share During the Forecast Period

During the forecasted period, the big data enterprises segment accounted for the largest revenue share. Influencer marketing is becoming more and more popular among small and medium-sized businesses (SMEs) due to its greater affordability and comparable returns to conventional marketing strategies. Small businesses can get specialized campaign design and management from service providers like AspireIQ. Additionally, influencer marketing platforms provide in-depth insights like demographic and psychographic information about influencers, which enables SMEs to create campaigns that are more specifically targeted.

Search and Discovery Application Segment to Have the Largest Market Size During the Forecast Period

The search and discovery application category will have the biggest market size over the forecasted period. By application, the global influencer marketing market may be divided into subsectors such as search and discovery, campaign management, influencer management, analytics and reporting, and others. In 2029, a larger market is anticipated for the search and discovery application area. The search and cloud discovery tool offers extensive search possibilities for the goal of discovering relevant and beneficial influencers for marketing activities. In order to identify potential influencers who can promote their companies, increase brand awareness, and boost customer interaction, businesses are increasingly using influencer marketing platforms. The search and discovery tool offers detailed information about influencers, including their names, locations, and occupations as well as their interests, audience demographics, social media management channels, traffic patterns, and engagement rates.

During the Anticipated Period, the Fashion and Lifestyle Segment Accounted for More Percentage of Total Revenues.

The increasing number of millennials using social media is encouraging companies and agencies to target them. The growing propensity of millennials to purchase goods promoted by their favorite influencers with just one click is contributing to the rise of this market. Due to the rising consumer desire for novel entertainment and hospitality experiences, it is predicted that the food and entertainment sectors will hold a sizable market share over the projection period.

During the Forecast Period, North America was the Regional Market that Generated the Most Revenue.

The rise of the local market has been fueled by the rising number of Instagram users. In comparison to the United States, Canadian businesses have not fully explored the possibilities of influencer marketing, therefore the region is predicted to experience exponential development in the next years. Because blog-based marketing allows for more creative freedom than social media marketing, Europe is projected to have noteworthy progress all through the forecast period.

Due to growing digital presence, marketers are incorporating online media alternatives like social media, blogs, websites, along with other marketing strategies such as television marketing, print, and others. This has increased the need of incorporating brand awareness strategies and outshine from the competition. It has become a challenge to advertising content and making a brand visible. This has improved the reliance influencer marketing which is playing an influential role in forming consumer opinions on a certain product or service. This is fostering remarkable progress in global influencer marketing platform market.

The growing demand for brands and agencies to develop stronger relationships with customers is improving the reliance on influencer marketing as it has made possible for businesses to expand their reach beyond conventional marketing strategies.

Owing to benefits such as improved brand awareness, effective reach to target audience, winning partnerships, improved purchase decision, improved consumer behavior towards a product or service, increase ROI, and more as opposed to traditional approaches such as word of mouth campaigns fostering remarkable progress of global influencer marketing platform market.

Influencer marketing is progressively taking its rightful place as a fundamental component of all firms' common branding strategies. It is a hybrid of content-driven marketing methods and traditional celebrity endorsements.

A powerful tactic that is helping businesses grow is global influencer marketing, which involves collaboration between brands and influencers. Over the past ten years, it has continued to flourish as a marketing technique that thousands of companies and brands have used with success. Influencers are internet celebrities with a substantial fan base who are experts in a certain field. They can successfully sway their audience's purchasing decisions since they are respected by their followers as subject-matter authorities.

Organizations benefit from global influencer marketing in a variety of ways, including increased brand awareness and reach due to the millions of viewers and followers they have; credibility and trust are built as a result of the positive relationships they have with their fans; content strategy is enriched; and purchase decisions are influenced. Influencer marketing is anticipated to increase at a 35.88% CAGR to reach USD 27.40 billion globally by 2029.

The previous few years have seen a huge increase in video consumption due to the growing popularity of smartphones and 4G and 3G networks. As a result, businesses are developing marketing plans for the streaming of video content via digital platforms. The number of people watching television has drastically fallen over the past three years as more people turn to social media sites like Facebook, YouTube, and Instagram.

Due to increased competition, finding genuine influencers with a sizable following has emerged as the biggest challenge for businesses and organizations limiting the global influencer marketing platform market growth. Many influencers utilize bots to generate phony followers in order to demonstrate their status and draw major businesses. Organizations are using auditing tools to identify phony accounts by scanning the accounts of influencers and displaying information about real and fake followers in an effort to combat the problem. In the upcoming years, the tools might be able to assist marketers in finding real influencers.

The key rationale such as higher return on investment, better and faster engagement with target audience, ability of influencer marketing platforms to provide near real-time responses from consumers would result into a growing popularity of influencer marketing platforms. Market experts term these aspects to be the most promising forces driving the global influencer marketing platform market.

The top players in the global influencer marketing platform market are Captiv8, IZEA Worldwide, Talent Village, Launchmetrics,Traackr, Upfluence, Klear, AspireIQ, CreatorIQ, Mavrck, ImpactTech, Brandwatch, Linqia, Onalytica, Social Beat Digital Marketing, ExpertVoice, Lefty, Lumanu, InfluencerDB, Taggermedia, Heepsy, Fourstarzz Media LLC, Juulr B.V, and Intellifluence.

YouTube is the close runner up in being the most popular search engine worldwide, according to a 2017 Google study. Additionally, despite a 50% decline in television viewing among people between the ages of 18 and 26 in 2017, Wyzowl's statistics show that video-based marketing increased from 63% in 2017 to 81% in 2018. In order to target potential customers, they are turning to the influencer marketing strategy.

Latest Innovations in the Global Influencer Marketing Platform Market: A Snapshot

• Mavrck, a well-known influencer marketing network, stated in April 2022 that it would collaborate with a top social media marketing and commerce platform later on for independent producers and small enterprises.

Influencer Marketing Platform Market Scope

Key Segments of the Global Influencer Marketing Platform Market

Organization Size Overview, (USD Billion)

• Large Enterprises
• Small and Medium Enterprises

Application Overview, (USD Billion)

• Analytics and Reporting
• Search and Discovery
• Campaign Management
• Influencer Management

Application Overview, (USD Billion)

• Sport and Fitness
• Food and Entertainment
• Travel and Holiday
• Fashion and Lifestyle

Regional Overview, (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and South Africa