Influencer Marketing Platform Market

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Influencer Marketing Platform Market – Key Vendors have adopted different types of organic and inorganic growth strategies such as new product launches, product enhancements, partnerships, and mergers and acquisitions.

Various factors such as the customers’ shift toward video-based content across the OTT space and an increase in the adoption of ad-blocking software are expected to drive the adoption of the influencer marketing platform market.

The influencer marketing platform market accounted for US$ 4.8 billion in 2019 and is anticipated to register a CAGR of 35.6%.

The report "Global Influencer Marketing Platform Market, By Offering (Solution, and Service), By Application (Search & Discovery, Campaign Management, Influencer Relationship Management, Analytics & Reporting, and Others), By End-User (Fashion & Lifestyle, Marketing Agencies, Retail & Consumer Goods, Travel & Hospitality, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In November 2020, Launchmetrics acquired Parklu, a Chinese influencer analytics platform. The acquisition will help Launchmetrics develop a foothold in China as the country cements its dominance in the global luxury market.
In October 2020, Upfluence integrated its software with the Klaviyo marketing platform. It boosts eCommerce marketing processes by improving insight and targeting.
In March 2020, IZEA Worldwide launched BrandGraph. BrandGraph is a social intelligence platform for social media marketers. The engine currently processes over 400 million pieces of content across over 4.5 million influencers globally.
In September 2019, Ahalogy, a Quotient brand, announced the launch of Rising Keywords, a new feature for its Muse platform. The feature will help predict future trends on social platforms.

Analyst View:

Increasing investment in Influencer Market

Increasing interest in video based content among population is the factor fuelling the growth of the market. The rise of social media has made it possible for companies, through influence, to expand customer participation. A large number of ages, along with a substantial number of influencers on social media platforms, like Instagram, enable companies to make use of marketing influencers to have a more significant impact on the industry. These factors will have a positive impact on the influencer marketing platform industry. Growing need for big data analytics for influencer marketing will also propel the growth of the market. The consumers move to overhead content and the growing use of ad-blocking software to increase the need for new marketing strategies. The growing demand for big data analysis, AI, and machinery training for influencer marketing generates numerous opportunities for suppliers in the industry. Rising need to create brand image is also driving the market

Rising adoption of influencer marketing platform

Widespread adoption of the platforms, several brands and firms are struggling to measure the performance of this platform. Such brands and firms are expected to provide ample opportunities to influencer marketers to collaborate with them, thereby boosting the market growth.

Key Market Insights from the report:

The global influencer marketing platform market accounted for US$ 4.8 billion in 2019 and is anticipated to register a CAGR of 35.6%. The market report has been segmented on the basis of offerings, application, end-user and region.

Depending uponofferings, the solution segment captured a larger share of the global influencer marketing platform market in 2019. With increasing proliferation of social media networks in customers’ lives and rising number of influencers, businesses worldwide are focusing on creating effective influencer marketing strategies.
In terms ofapplication, campaign management segment shows the highest growth in the influencer marketing platform market. Campaign management is one of the important solutions that are being offered by influencer marketing platforms to various brands. This solution offers built-in features to store campaign records and it also allows brands to assess their campaign performance in order to ensure if the campaign increased their brand value or visibility among target audience.
By end-user, the fashion and lifestyle segment captured a dominating distribution of the global influencer marketing platform market in 2019.The fashion & lifestyle industry is mostly visual based as the audience responds better to images and videos of fashion & lifestyle related product.
By region, North America is expected to have at the largest market size during the forecast period. The continuous adoption of influencer marketing platform solution and services across all the major end users is expected to drive the market growth in North America. The governments in North America are focusing and investing substantially in AI and ML technologies, while they are also reaping the benefits of influencer marketing platforms in the US and Canada.

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Competitive Landscape:

The prominent player operating in the global influencer marketing platform market includes AspireIQ Inc., InfluencerDB, IZEA Worldwide Inc., JuliusWorks Inc., Kolsquare, Launchmetrics, Lefty, Mavrck, NeoReach, Traackr Inc., and Upfluence Inc.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.