The growing number of social media users is expected to increase the adoption of influencer marketing platforms. Growing use of influencer marketing to satisfy growing demand for expensive lifestyles and fashion brands that are more accessible to people. North America has emerged as the largest market for the global influencer marketing platform market, with a 34.20% market revenue share in 2022.
Newark, Oct. 27, 2022 (GLOBE NEWSWIRE) — According to report by The Brainy Insights, the global influencer marketing platform market is expected to grow from $10.54 billion in 2022 to $94.24 billion by 2030, at a CAGR of 31.50% over the forecast period 2022-2030.
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The overall growth of influencer marketing and the growing importance of Instagram as a top social media channel has led to a substantial increase in the number of brands paying out money to influencers operating there. 56% of marketers are expected to use Instagram for influencer marketing in 2022, followed by YouTube. In comparison, 42% reported online ads, 28% TV ads, 34% TikTok, 18% OOH ads and 19.5% Twitch. Marketers predict that the trend will continue in the future. In addition, the strict advertising transparency regulations and strong brand awareness in influencer marketing have resulted in a remarkable growth of sponsored influencer posts. Posts rank between 2016 and 2017 at 2.65 million posts. These were further predicted to increase significantly to 6.13 million sponsored posts in 2021. With the growth of influencer marketing since the onset of COVID-19, the figure is higher.
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To strengthen their position in the global influencer marketing platform market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
In June 2021, Marriott International, Inc. included the services of Upfluence Inc. to enhance influencer research by tracking and marketing their global campaign.
Market growth and trends
The advanced application of the Internet for advertising has dramatically changed the business models of different companies and provided marketers with unique ways to reach target audiences. Such promotional actions allow marketers to deliver personalized advertisements, thereby improving the customer experience. Social media platforms including Facebook, Instagram, YouTube, and Pinterest have gained tremendous traction for such marketing goals. These unique forms of branding and promotion are expected to enhance the view of the influencer marketing platforms market in the coming years. Influencer marketing platforms reduce action and save time searching for the influencer on social media. Moreover, it offers an extensive list of influencers with their statistics. Influencer marketing has various benefits like it is incredibly targeted and relevant, helping to acquire customers faster, bringing value to the target audience, increasing SEO and improving brand awareness.
• In 2022, the research and discovery segment dominated the market with the largest market share of 28.5% and revenue of $3.0 billion.
The applications segment is divided into analytics and reporting, research and discovery, influencer management, campaign management, and others. In 2022, the research and discovery segment dominated the market with the largest market share of 28.5% and a revenue of 3.0 billion. The search and discovery app offers advanced search options to locate suitable and suitable influencers for marketing campaigns. Institutions are adopting the influencer marketing platform to discover potential influencers who can improve brand exposure, increase customer engagement, and promote their brands.
• In 2022, the large enterprise segment dominated the market with the largest market share of 54.5% and revenue of 5.74 billion.
The organization size segment is divided into small and medium enterprises and large enterprises. In 2022, the large enterprise segment dominated the market with the largest market share of 54.5% and revenue of 5.74 billion owing to the growing demand for effective and cost-effective marketing techniques. Various large companies have limited their business activities during the pandemic.
• In 2022, the fashion and lifestyle segment dominated the market with the largest market share of 27.2% and revenue of 2.86 billion.
The end-use segment is divided into travel and vacation, sport and fitness, food and entertainment, fashion and lifestyle, and others. In 2022, the fashion and lifestyle segment dominated the market with the largest market share of 27.2% and a revenue of 2.86 billion owing to the increasing adoption of digital marketing. influence to meet the growing demand for extravagant lifestyles and fashion brands that are more accessible to people. Additionally, fashion companies employ influencers to publicize new clothes and accessories, keeping people up to date with the latest fashion trends.
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Regional Segment Analysis of Influencer Marketing Platform Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North America region has become the largest market for the global influencer marketing platform market, with a market share of around 34.20% and 3.60 billion market revenue in 2022. Due to the massive number of COVID-19 cases in work from home and an expansion in the adoption of social media for the dissemination of products and benefits. Additionally, the North American region has talent pools based on artificial intelligence, platform development, and digital marketing, leading to the growth of the influencer marketing platform market.
Leading players operating in the Global Influencer Marketing Platforms Market are:
• Blogmint Inc.
• ExpertVoice Inc.
• Fourstarzz Media LLC
• Impact Tech, Inc.
• IZEA Worldwide Inc.
• Julius Works, Inc.
• Launch measures
• Linqia, Inc.
• Quotient Technology Inc.
• Media Tagger Inc.
• Talent Village Ltd.
• Traackr, Inc.
• Upfluence Inc.
This study forecasts revenue at global, regional and country level from 2019 to 2030. The Brainy Insights has segmented the global influencer marketing platform market based on the segments mentioned below:
Global influencer marketing platforms market by application
• Analysis and reports
• Research and discovery
• Influencer management
• Campaign management
Global Influencer Marketing Platforms Market by Organization Size:
• Small and medium enterprises
• Large companies
Global Influencer Marketing Platforms Market by End Use:
• Travel and Vacation
• Sport and fitness
• Food and entertainment
• Fashion and lifestyle
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About the report:
The global influencer marketing platform market is analyzed based on value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each part. The report offers an in-depth analysis of the driving factors, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position analysis, distribution and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.
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