Influencer Marketing Platform Market Share, Size, Trends, Industry Analysis Report, By Application (Campaign Management, Search & Discovery, Analytics & Reporting, Influencer Management); By Organization Size; By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM2269
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global influencer marketing platform market size was valued at USD 10.54 billion in 2023. The market is anticipated to grow from USD 14.47 billion in 2024 to USD 183.48 billion by 2032, exhibiting the CAGR of 37.4% during the forecast period.
The key factors, such as rising demand for these stages and the rising shift of millennials towards the OTT platform, are boosting the industry growth during the forecast period.
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Video consumption has risen dramatically in recent years due to smartphones' widespread usage. As a result, businesses are developing advertising strategies for video-based content streamed across many digital channels. Further, organizations are unable to target their potential customers using traditional promotion strategies due to a decentralized consumer base. Influencer promoting effectively reaches buyers and improves customer engagement throughout a campaign.
As a result, they're turning to content creator promotion, which will target potential customers. According to a study conducted by Twitter and Annalect, 40% of Twitter users utilize tweets to make purchasing decisions. However, due to poor preparation, it fails to measure campaign efficacy. Typically, brands run campaigns without considering essential factors such as end goals, geographic locations, and content creator types. Due to a lack of planning, campaigns fail or provide limited results.
Furthermore, the efficacy of campaigns must be evaluated through various sources. In some cases, people make purchasing decisions based on offline discussions. For example, if customers share product data via personal emails, LinkedIn, or other private accounts, their purchasing decisions are not considered when measuring campaigns.
Industry Dynamics
Growth Drivers
Few notable factors such as collaborations, partnerships, advertising stage launches, investment, expansion of technology-based platforms, and development of these stages, among others by major players. For instance, in August 2021, LTK, the world's largest creator-powered digital advertising stage, has expanded its offerings to allow businesses to design, manage, and scale influencer marketing strategies in real-time across all publishing platforms and the LTK purchasing the app. Through the LTK stage, enterprise brands have spent more than USD 1 billion on creators.
Further, in May 2021, Prime Venture Partners and SGInnovate have invested USD 2 million in Singapore-based marketing technology startup Affable.ai. Over 45 leading brands and agencies, including Huawei, Omnicom, Dentsu, Wipro, and WE Communications, use Affable's AI-driven, SaaS platform to manage high-profile marketing campaigns. The company tracked over three million influencers on numerous social media stages, such as Instagram, Linkedin, YouTube, Facebook, and TikTok.
The company intends to use this in international areas such as the U.S. Thus, the primary player's initiatives, such as new technology platforms for influence marketing campaigns, expansion of offering on the marketing platforms and applications, investment in stages, development, and collaborations, are boosting the industry growth during the forecast period.
Report Segmentation
The market is primarily segmented based on application, end-use, organization size, and region.
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By Application |
By Organization Size |
By End-Use |
By Region |
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Insight by End-Use
Based on the end-use segment, the fashion and lifestyle segment is the most significant revenue contributor in the global industry in 2021 and is expected to retain its dominance over the forecast period. The development of such advertising methods is driven by the growing demand for high-end lifestyle and fashion firms to be more approachable to individuals and create closer interactions with them. Furthermore, fashion lovers enable businesses to interact with their target audiences and industry them by sharing picture-perfect images, videos, and sponsored posts.
Geographic Overview
In terms of geography, North America had the largest share in 2021. The use of social media and over-the-top platforms as sources of entertainment by the consumers. For example, according to the U.S. Census Bureau, in March 2021, more than a quarter of American households indicated they worked from home more regularly after the pandemic, but the percentage of those who did so significantly varied by social demographic group.
In response to the COVID-19 outbreak, households with individuals who indicate more widely mentioned higher income, education, and wellness levels than those where nobody changed their usual in-person work. Thus, people spend more time using social media platforms, which has led to an increase in the demand for the industry. Furthermore, the region's large skill pool in platform development, AI-based analytics, and digital marketing create a favorable industry expansion environment.
Moreover, Asia Pacific registered the highest CAGR in the global industry in 2021. This is becoming more widespread as advanced technology is becoming more widely adopted in China, Japan, and India. The expanding number of social media users and significant players' initiatives, such as the launch of these stages, is projected to enhance the influencer marketing platform market in the Asia Pacific.
In November 2021, Optiminastic Media, a digital marketing business specializing in performance, content, video production, website building, and influencer marketing, launched Click2Collab. The tech-based influencer marketing platform attempts to link influencers, businesses, and agencies on a single platform. With the product's network of recognized influencers from throughout India, Click2Collab helps brands and agencies build, curate, and personalize campaigns based on their goals and requirements. Besides, users in Europe and the Asia Pacific are increasingly using ad-blocking software, propelling the influencer marketing platform market forward.
Competitive Insight
Some of the major players operating in the global influencer marketing platform market include AspireIQ, Brandwatch, CreatorIQ, ExpertVoice Inc., Grapevine Logic Inc., Hypetap Pty Ltd., HYPR Corporation, Impact Tech, Inc., InfluencerDB, IZEA Worldwide, Inc., JuliusWorks, Inc., Klear, Launchmetrics, Lefty, Linqia, Inc., Lumanu, Inc., Mavrck, Quotient Technology Inc., Social Beat Digital Marketing LLP, Speakr Inc., Traackr, Inc., Upfluence Inc., and Webfluential.
Influencer Marketing Platform Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 14.47 billion |
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Revenue forecast in 2032 |
USD 183.48 billion |
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CAGR |
37.4% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019 - 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 - 2032 |
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Segments covered |
By Application, By Organization Size, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
AspireIQ, Brandwatch, CreatorIQ, ExpertVoice Inc., Grapevine Logic Inc., Hypetap Pty Ltd., HYPR Corporation, Impact Tech, Inc., InfluencerDB, IZEA Worldwide, Inc., JuliusWorks, Inc., Klear, Launchmetrics, Lefty, Linqia, Inc., Lumanu, Inc., Mavrck, Quotient Technology Inc., Social Beat Digital Marketing LLP, Speakr Inc., Traackr, Inc., Upfluence Inc., and Webfluential. |
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