Influencer Marketing Platform Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

The Global Influencer Marketing Platform Market Size accounted for USD 9.2 Billion in 2021 and is predicted to be worth USD 104.1 Billion by 2030, with a CAGR of 31.4% during the forthcoming period from 2022 to 2030.

The global influencer marketing platform market size is projected to grow significantly over the forecast period. This is owing to the increasing popularity of social media platforms and the rising prevalence among users, which is boosting the demand for the influencer marketing platform industry. Furthermore, significant changes in customer demand for video-based content throughout the OTT-based platform, as well as a growth in the deployment of the ad-blocking solution, are projected to accelerate the growth of the influencer marketing platform market value.

An influencer marketing platform is an innovative software-based system that businesses and agencies use to handle and manage their influencer marketing campaigns and engagements. Influencer marketing is one of the most effective methods for swiftly building influencer advertising strategies and increasing awareness among the intended audience. According to Forbes, influencer marketing is expanding faster than digital advertising, with a focus on utilizing an industry leader's followers to fuel growth in their own firm. Indeed, influencer marketing should be used actively in social media advertising to improve brand awareness, bring the content in front of new eyes, and produce new leads for the sales funnel. Moreover, influencer platforms' features have recently grown to encompass campaign management, relationship management, influencer markets, third-party analytics, as well as influencer content amplification.

Global Influencer Marketing Platform Market Analysis

Market Drivers

• Significantly raise in the adoption of ad-blocking application
• The growing number of users on the social media platform
• Customers' preferences are shifting to video-based content throughout the OTT platform.
• The rapid growth of smartphone and Internet penetration

Market Restraints

• Lack of technological consciousness
• Availability of limited consultant

Market Opportunities

• Social marketing platform for increasing client trust and developing a new brand image
• Growing demand for big data analytics, AI, and ML in influencer marketing

Influencer Marketing Platform Market Report Coverage:

The increased adoption of marketing platforms by various influencers and marketers is a critical element driving the influencer marketing platform market growth. Furthermore, the increased demand for big data analytics for digital advertising, the growing desire to establish a brand image, and the rising popularity of ad-blocking software are among the primary reasons driving the influencer marketing platform market trend.

Aside from that, COVID-19 has had a significant influence on the influencer marketing platform market around the world. As a result, consumers are looking for genuine people, becoming micro-influencers becoming more important than ever. These have generated new possibilities for businesses to collaborate with their audiences through new methods of digital marketing including influencer marketing platform solutions. According to a recent research survey conducted by the influencer marketing platform provider Zefmo, approximately 92% of marketers plan to use social media marketing strategies in 2020. As a preventive measure in the event of a COVID-19 pandemic, most governments have implemented lockdowns. As a result of spending much more time at residence; consumers have increased their use of online social media sites. The volume of traffic on social media platforms has skyrocketed, fueling the demand for the influencer marketing platform market.

However, among other things, limited campaign influence, a scarcity of technology understanding, and an increase in the availability of narrow professionals are the primary factors inhibiting the influencer marketing platform market share throughout the projection period.

Influencer Marketing Platform Market Segmentation

The global influencer marketing platform market segmentation is based on the component, application, organization size, end-user, and geographical region.

Market by Component

• Solutions
• Services
  • Deployment and Integration
  • Consulting
  • Support and maintenance

In terms of components, the solution segment is expected to increase significantly in the coming years. The providers are constantly working to develop innovative techniques for engaging with clients, building relationships, and identifying new market prospects. As a result, organizations are incorporating strategies such as brand management as well as influencer marketing. Currently, SaaS-based influencer marketing solutions are becoming increasingly popular due to their offering that gives marketers end-to-end solutions.

Market by Application

• Campaign Management
• Analytics & Reporting
• Search & Discovery
• Influencer Management
• Compliance management and fraud detection
• Others

According to the influencer marketing platform industry analysis, the search and discovery segment can lead the market in 2021. This growth is primarily due to increased engagements between marketers and influencers for a specific marketing campaign. Using audience demographics and psychographics, performance, and content effectiveness, search and discovery technologies assist businesses in finding the right marketing strategies for influencers. For instance, HypeAuditor offers search and discovery solutions for numerous platforms for social media such as Instagram, TikTok, as well as YouTube.

Market by Organization Size

• Large Enterprises
• SMEs

Based on the organization size, the large enterprise segment accounted for the largest market shares in 2021. This dominance is due to the growing desire for cost-effective marketing techniques and strategies for enterprises. Furthermore, due to the COVID-19 infections, various large-scale organizations restricted their commercial operations throughout the global pandemic. As a result, their advertising budget was reduced, resulting in a desire for new marketing strategies and the use of online services as a primary channel of advertisement.

Market by End-user

• Fashion and lifestyle
• Travel and tourism
• Agencies and PR
• Ad-tech
• Health and wellness
• Banking and Finance
• Retail and consumer goods
• Other

According to the influencer marketing platform market forecast, the fashion and lifestyle segment is likely to grow significantly in the industry over the next few years. The increased demand from high-end fashion and lifestyle entities to become more reachable to consumers and create tighter relationships with them is driving the emergence of such advertising techniques. Moreover, fashion enthusiasts let businesses communicate with and market to their intended audience by providing picture-perfect photographs, video content, and affiliate marketers.

Influencer Marketing Platform Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa