According to our latest market 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, the market was valued at US$ 148.04 million in 2019 and is projected to reach US$ 337.74 million by 2027; it is expected to grow at a CAGR of 13.4% from 2020 to 2027.
Influencer marketing is one of the most promising segments of the digital marketing mix. Influencer marketing has opened up a 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 has evolved across the world. Influencer programs are similar to responsiveness as in 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 in a cost-effective manner.
Geographically, the influencer marketing platform Market is segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America Market. The Europe region held the major market share in 2019. In Europe, the NORDIC countries, along with Germany and the UK, held a key market share in 2019 and are expected to witness a high growth during the forecast period.
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 million to expand its service in Central Europe. The increasing funding and spending for influencer marketing are expected to drive the market in European countries.
Asia Pacific is expected to witness high Y-o-Y growth during the forecast period. Factors such as rapid urbanization, high number of young population, increasing disposable income, advancements in technology, and increasing purchasing power of consumer goods are creating a huge opportunity for influencer marketing. Vendors of influencer marketing platform are strategically expanding their footprint in the developing countries of Asia Pacific to tap the opportunity. For instance, In May 2019, TopSocial, one of the leading influencer marketing platforms of China, 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.
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 companies operating in the influencer marketing platform market.
Impact of COVID-19 on Influencer marketing platform market
Although COVID-19 pandemic has resulted in fewer brand collaborations, digital platforms have gained immense traction. This factor has led to the increase in use of social media platforms during people's practice of social distancing. With the increasing use of social media, influencers have gained an opportunity to keep their active audience engaged, with their creative and positive content.
Obviously, an influencer marketing platform provider, published a Trends Report: The Impact of Coronavirus on Influencer Marketing. In March 2020, the company surveyed more than 1,000 influencers for measuring the impact of COVID-19 on them. The company also analyzed its data, which included 7.5 million Instagram posts, 2,200 TikTok influencers, and 260 campaigns. According to the report, there was ~33% increase in brands seeking to hire influencers to create their photo and video assets due to the temporary shutdown of production agencies.
The influence marketing platform market was affected during Q1 and Q2 of 2020 owing to the temporary shutdown of several businesses. However, this factor has reduced the brand's advertising cost across the COVID-19 afflicted regions, offering an opportunity for brands to channelize it in a way to reach a broader pool of audience.
The report segments the global influencer marketing platform market as follows:
By Offerings
By Application
By Organization Size
By End-user
By Geography
Reasons to Buy:
Influencer marketing is one of the most promising segments of the digital marketing mix. Influencer marketing has opened up a 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 has evolved across the world. Influencer programs are similar to responsiveness as in 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 in a cost-effective manner.
Geographically, the influencer marketing platform Market is segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America Market. The Europe region held the major market share in 2019. In Europe, the NORDIC countries, along with Germany and the UK, held a key market share in 2019 and are expected to witness a high growth during the forecast period.
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 million to expand its service in Central Europe. The increasing funding and spending for influencer marketing are expected to drive the market in European countries.
Asia Pacific is expected to witness high Y-o-Y growth during the forecast period. Factors such as rapid urbanization, high number of young population, increasing disposable income, advancements in technology, and increasing purchasing power of consumer goods are creating a huge opportunity for influencer marketing. Vendors of influencer marketing platform are strategically expanding their footprint in the developing countries of Asia Pacific to tap the opportunity. For instance, In May 2019, TopSocial, one of the leading influencer marketing platforms of China, 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.
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 companies operating in the influencer marketing platform market.
Impact of COVID-19 on Influencer marketing platform market
Although COVID-19 pandemic has resulted in fewer brand collaborations, digital platforms have gained immense traction. This factor has led to the increase in use of social media platforms during people's practice of social distancing. With the increasing use of social media, influencers have gained an opportunity to keep their active audience engaged, with their creative and positive content.
Obviously, an influencer marketing platform provider, published a Trends Report: The Impact of Coronavirus on Influencer Marketing. In March 2020, the company surveyed more than 1,000 influencers for measuring the impact of COVID-19 on them. The company also analyzed its data, which included 7.5 million Instagram posts, 2,200 TikTok influencers, and 260 campaigns. According to the report, there was ~33% increase in brands seeking to hire influencers to create their photo and video assets due to the temporary shutdown of production agencies.
The influence marketing platform market was affected during Q1 and Q2 of 2020 owing to the temporary shutdown of several businesses. However, this factor has reduced the brand's advertising cost across the COVID-19 afflicted regions, offering an opportunity for brands to channelize it in a way to reach a broader pool of audience.
The report segments the global influencer marketing platform market as follows:
By Offerings
- Solution
- Service
By Application
- Search & Discovery
- Campaign Management
- Influencer Relationship Management
- Analytics & Reporting
- Others
By Organization Size
- Small & Medium Enterprise
- Large Enterprise
By End-user
- Fashion & Lifestyle
- Marketing Agencies
- Retail & Consumer Goods
- Travel & Hospitality
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Reasons to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Influencer Marketing Platform market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Table of Contents
1. Introduction
3. Research Methodology
4. Influencer Marketing Platform - Market Landscape
5. Influencer Marketing Platform Market - Key Industry Dynamics
6. Influencer Marketing Platform Market- Global Analysis
7. Influencer Marketing Platform Market - By Offerings
8. Influencer Marketing Platform Market Analysis - By Application
9. Influencer Marketing Platform Market Analysis - By Organization Size
10. Influencer Marketing Platform Market Analysis - By End-User
11. Influencer Marketing Platform Market - Geographical Analysis
12. Impact of COVID-19 Pandemic on Influencer Marketing Platform Market
13. Industry Landscape
14. Company Profiles
15. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AspireIQ, Inc.
- InfluencerDB
- IZEA Worldwide, Inc.
- JuliusWorks, Inc.
- Kolsquare
- Launchmetrics
- Lefty
- Mavrck
- NeoReach
- Traackr, Inc.
- Upfluence Inc.
