The influencer marketing platform market size is projected to reach US$ 138.03 billion by 2031 from US$ 11.30 billion in 2023. The market is expected to register a CAGR of 36.7% in 2023–2031. The high growth of micro-influencers and businesses focusing on brand recognition strategies are likely to remain a key influencer marketing platform market trend.
Influencer Marketing Platform Market Analysis
The influencer marketing platform market is growing at a rapid pace due to the rising demand for AI-driven solutions among consumers and growing investment in influencer marketing campaigns. The market is expanding steadily, driven by the integration of influencer marketing platforms among businesses to deepen their connections with consumers. Moreover, shifting preference for OTT platforms and social media channels and growing demand for advanced market strategies are providing lucrative opportunities for market growth.
Influencer Marketing Platform Market Overview
Influencer marketing platforms are software or firms designed to assist brands in developing an influencer marketing strategy. These might be marketplaces or agencies designed to link marketers with influencers in their niche. These platforms can also help companies and influencers communicate and track campaign metrics. The influencer marketing networks enable brand cooperation with influencers for endorsement and product promotion. Brands use influencer marketing platforms to find relevant influencers whose audiences match their target demographics and brand values. These platforms allow marketers to negotiate agreements, build and manage campaigns, measure performance indicators, and assess the effectiveness of influencer collaborations. However, the platform plays a vital role in enhancing the effectiveness and efficiency of marketing methods for brands is boosting the market.
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Influencer Market: Strategic Insights
Market Size Value in US$ 148.04 Million in 2019 Market Size Value by US$ 337.74 Million by 2027 Growth rate CAGR of 13.4% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Influencer Market: Strategic Insights
| Market Size Value in | US$ 148.04 Million in 2019 |
| Market Size Value by | US$ 337.74 Million by 2027 |
| Growth rate | CAGR of 13.4% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Influencer Marketing Platform Market Drivers and Opportunities
Rising Demand for AI-driven Solutions Among Consumers is Driving the Market
Rising demand for AI-driven solutions among consumers is driving the market during the forecast period. Influencers across the globe are employing Al tools in their content creation process to demonstrate widespread usage. Furthermore, the growing usage of generative AI for developing content is fueling the market. For instance, according to eConsultancy analysis published in July 2023, 58% of marketers use generative Al for written content development and copywriting, with 43% using it for SEO keyword research. This highlights Al’s critical position in modern marketing tactics. Increasing dependence on AI-powered solutions for automating various operations, including influencer selection, campaign planning, and content optimization, is propelling the market. Automation of these operations increases’ efficiency, improves campaign authenticity and effectiveness, and eliminates the need for additional resources.
Shifting Preference for OTT Platforms and Social Media Channels – An Opportunity in the Influencer Marketing Platform Market
Shifting consumer preference towards the adoption of over-the-top (OTT) platforms and social media channels is creating opportunities for market growth during the forecast period. An increasing number of consumers turning to digital streaming services and spending more time on social media platforms increases the demand for influencer marketing platforms among businesses for tailored marketing initiatives. Influencer marketing platforms provide a link between brands and digitally sophisticated audiences, offering an organized network for influencers to effectively reach diverse and attentive audiences who frequently use OTT platforms and social media channels.
Influencer Marketing Platform Market Report Segmentation Analysis
Key segments that contributed to the derivation of the influencer marketing platform market analysis are deployment and application.
- Based on deployment, the influencer marketing platform market is divided into cloud-based and on-premises. The cloud-based systems segment held a larger market share in 2023.
- In terms of application, the market is categorized as Small & medium enterprises and large enterprises. The large enterprises segment held a larger market share in 2023.
Influencer Marketing Platform Market Share Analysis by Geography
The geographic scope of the influencer marketing platform market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest influencer marketing platform market share, due to the increasing use of influencer marketing software among businesses to promote their products and services. The integration of Al technologies has changed the industry, allowing accurate audience targeting, content optimization, and campaign performance measurement. Moreover, the widespread use of social media adoption in the region provides users with a fertile platform such as Instagram, TikTok, and YouTube for influencer collaboration. These platforms are highly becoming essential avenues for brand promotion. Thus, boosting the market during the forecast period.
Influencer Marketing Platform Market Report Scope
Influencer Marketing Platform Market News and Recent Developments
The influencer marketing platform market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for influencer marketing platform and strategies:
- In October 2023, Grin Technologies Inc. officially announced the launch of its new expert-led influencer marketing service offering designed to help customers build a creator program from the ground up or optimize an existing one. (Source: Grin Technologies Inc., Press Release, 2023)
Influencer Marketing Platform Market Report Coverage and Deliverables
The “Influencer Marketing Platform Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offerings , Application , Organization Size , End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global influencer marketing platform market was estimated to be US$ 11.30 billion in 2023 and is expected to grow at a CAGR of 36.7% during the forecast period 2023 - 2031.
The rising demand for AI-driven solutions among consumers and growing investment in influencer marketing campaigns are the major factors that propel the global influencer marketing platform market.
The high growth of micro-influencers and businesses focusing on brand recognition strategies to play a significant role in the global influencer marketing platform market in the coming years.
The key players holding majority shares in the global influencer marketing platform market are AspirelQ, Inc., InfluencerDB, IZEA Worldwide, Inc., JuliusWorks, Inc., and Kolsquare.
The global influencer marketing platform market is expected to reach US$ 138.03 billion by 2031.
The incremental growth expected to be recorded for the global influencer marketing platform market during the forecast period is US$ 126.73 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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