Report : Influencer Marketing Platform Market to 2027 - Global Analysis and Forecasts by Offerings (Solution and Service); Application (Search & Discovery, Campaign Management, Influencer Relationship Management, Analytics & Reporting, and Others); Organization Size (Small & Medium Enterprise and Large Enterprise); End-user (Fashion & Lifestyle, Marketing Agencies, Retail & Consumer Goods, Travel & Hospitality, and Others)
Influencer Marketing Platform Market on a global scenario was valued at US$ 137.1 Mn in 2018 and is expected to grow at a CAGR of 12.3% during the forecast period 2019 – 2027, to account to US$ 373.5 Mn in 2027.
Influencer marketing is one of the most promising segments of the digital marketing mix. Influencer marketing has opened up the new world for brands and businesses to connect with discerning and elusive audiences. With the increasing adoption of smartphones, companies are strategically approaching their customers to build a strong customer relationship.
With the advancements in technology, influencer marketing evolved across the globe. Influencer programs are similar to accountability to traditional media, which is causing a shift in ownership from communication budgets to media and marketing budgets. The advancements in influencer marketing platform and the way of advertisement has empowered the brands to run a program that activates thousands of influencers for a price that previously afforded a small group of individuals.
The influencer marketing platform market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. Asia Pacific is projected to be the fastest growing region in the global influencer marketing platform market. Whereas, Europe, followed by North America hold the highest market share in the influencer marketing platform market. Influencer marketing platform market is expected to experience significant growth in the coming years owing to increasing social media users’ penetration rate in developing economies worldwide.
Asia-Pacific is expected to with high year-on-year growth during the forecast period. Factors such as rapid urbanization, the high number of young population, increasing disposable income, advancements in technology, increasing purchasing power of consumer goods, and others are creating a huge opportunity for influencer marketing. Vendors of influencer marketing platform are strategically expanding their footprint in developing countries of Asia-Pacific to tap the opportunity. For instance, In May 2019, one of the leading influencer marketing platforms of China, TopSocial announced to expand its footprints in the Indian market. With the expansion, TopSocial will enable brands to create creative, localized, and customized content for the Indian market.
Boksi.com is one of the fastest-growing influencer marketing platforms in European countries. It has a presence in Sweden, Finland, Germany, Russia, Denmark, and Croatia. Boksi.com is known for a high number of micro-influencer and has successfully raised US$ 1 Mn to expand its service in Central Europe. The increasing funding and spending for influencer marketing are expected to drive the market in European countries. However, globally the market constitutes some prominent market players such as HYPR (Mogimo Inc.), InfluencerDB (InfluencerDB Tech GmbH & Co. KG), IZEA Worldwide Inc., JuliusWorks Inc., Launchmetrics (Fashion Gps, Inc.), Lefty (Modern Agency SAS), Mavrck (Apifia Inc.), NeoReach, Traackr, Inc., Upfluence among others.
The report segments the global Influencer Marketing Platform market as follows: