Influencer Marketing Platform Market Size Worth $337.74 Mn, Globally, by 2027 at 13.4% CAGR - Exclusive Report by The Insight Partners

The Influencer Marketing Platform Market Size was valued at $148.04 Mn in 2019 and is expected to reach $337.74 Mn by 2027 with a CAGR growth rate of 13.4% in the forecast period from 2020 to 2027.

New York, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The latest research study on “Influencer Marketing Platform Market Forecast to 2027 - COVID-19 Impact and Global Analysis 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), and Geography”, published by The Insight Partners. The Influencer Marketing Platform Market Growth is driven by the increasing demand for video content & live interactive sessions, surge in adoption of smartphones, increasing penetration of high speed internet, growing number of social media accounts, reducing data streaming cost, integration of advanced technologies such as artificial intelligence (AI), among others.

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Report Coverage Details
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
No. of Pages 224
No. Tables 114
No. of Charts & Figures 93
Historical data available Yes
Segments covered Offerings , Application , Organization Size , End User , and Geography
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Influencer Marketing Platform Market: Competitive Landscape and Key Developments
AspireIQ, Inc; InfluencerDB; IZEA Worldwide Inc.; JuliusWorks Inc.; Launchmetrics (Fashion Gps, Inc.); Lefty (Modern Agency SAS); Mavrck (Apifia Inc.); NeoReach; Traackr, Inc.; and Upfluence are among the key players in the global influencer marketing platform market. The leading companies focus on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

In 2020, IZEA Worldwide, Inc. secured a contract with a Fortune 500 financial services client for influencer marketing software and services.

In 2020, Julius Works Inc. completed the acquisition of HYPR Brands. Both the companies are industry-leading, 360-degree software solution providers that help simplify, rationalize, and scale influencer marketing for well-known brands and agencies. Their pioneering capabilities include influencer search & discovery, campaign management, and measurement & reporting suites.

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Influencers have begun opting live streaming for conducting Q&A sessions, real-time product unboxing, etc. The number of active social media users in January 2019 rose to 3.4 billion, up by 9% year-on-year growth. The statistics for mobile phone users in 2019 was 5.1 billion, up by 2% year-on-year. These stats reveal the increasing adoption of video content. Therefore, increasing demand for video content and live interactive sessions, growing adoption of smartphones, increasing penetration of high-speed internet, growing number of social media accounts, and reducing data streaming cost, as well as integration of advanced technologies such as artificial intelligence (AI), are factors that are anticipated to generate ample growth opportunities for the influencer marketing platform market in the near future.

There was a significant drop in brand collaboration due to the restrictions imposed in the wake of COVID-19 outbreak. Digital platforms gained immense traction as there was extraordinary increase in the consumption of social media platforms during the practice of social distancing. With the increasing use of social media, influencers gained an opportunity to keep their audience engaged with their creative content. However, the preventive strategies hampered the influencer marketing industry to an extent. For example, the hospitality sector was negatively impacted due to travel restrictions. Also, food bloggers were finding it challenging to keep their social media feeds updated. Therefore, the COVID-19 pandemic urged both influencers and brands to assess and restructure their marketing strategies for sustaining user engagement.

Video Content to Positively Impact Influencer Marketing Platform Market:
With the improvement in internet speed and availability of low-cost streaming, the demand for video content is significantly increasing. Most of the influencers on social media networks are adopting video content to influence their audience. Earlier, YouTube has had video focus, but now big players such as Instagram, Facebook, LinkedIn, Twitter, and others are also catering for video content. It is expected that by 2022, around 80% of all internet traffic will be for video. The key factor driving the video content is the increasing adoption of smartphones and the availability of high-speed internet at affordable prices. It is expected that the brands will significantly adopt video influencer marketing and will operate across the video influencing platforms.

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Influencer Marketing Platform market: Application
The global influencer marketing platform market, based on application, is segmented into search & discovery, campaign management, influencer relationship management, analytics & reporting, and others. The search & discovery segment held the largest market share in 2019. The influencer search & discovery is a built-in search mechanism on influencer platforms. Influencer search & discovery is a comprehensive tool that enables businesses to find influencers that have followers matching the target audience of these businesses. Various influencer platforms companies, such as Upfluence, NeoReach, AspireIQ, Julius, Open Influence, Doveltale, Tapinfluence, and Onalytica, offer influencer search & discovery services to brands and agencies. Julius offers influencer discovery and campaign management platforms for various kinds of influencers and brands/agencies.

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