Influencer marketing platform market size worth $337.74 million,
New York, Feb 11. 2022 (GLOBE NEWSWIRE) — The latest research study on “Influencer Marketing Platform Market Forecast to 2027 – Impact of COVID-19 and Global Analysis by Offers (Solution and Service), Application (Research and Discovery, Campaign Management, Influencer Relationship Management, Analytics and Reporting, and Others), Market Size Organization (Small & Medium Business and Large Enterprise), End User (Fashion & Lifestyle, Marketing Agencies, Retail & Consumer Goods, Travel & Hospitality, and Others), and Geography,” published by The Insight Partners. The growth of the influencer marketing platform market is driven by growing demand for video content and live interactive sessions, rising adoption of smartphones, growing penetration of broadband internet, number growing number of social media accounts, reducing data delivery costs, integrating advanced technologies such as artificial intelligence (AI), among others.
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|Market size Value in||US$148.04 million in 2019|
|Market Size Value by||$337.74 million by 2027|
|Rate of growth||CAGR of 13.4% from 2020 to 2027|
|Year of reference||2020|
|Number of pages||224|
|Number of tables||114|
|Number of graphs and figures||93|
|Historical data available||Yes|
|Segments Covered||Offers, Application, Organization Size, End User and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Influencer Marketing Platforms Market: Competitive Landscape and Key Developments
AspireIQ, Inc; InfluencerDB; IZEA Worldwide Inc.; JuliusWorks Inc.; Launchmetrics (Fashion GPS, Inc.); Lefty (Modern SAS Agency); Mavrck (Apifia Inc.); NeoReach; Traackr, Inc.; and Upfluence are among the key players in the global influencer marketing platform market. Leading companies are focusing on expanding and diversifying their market presence and acquiring new customer base, thereby exploiting existing business opportunities.
In 2020, IZEA Worldwide, Inc. was awarded 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 companies are providers of industry-leading 360 degree software solutions that help simplify, streamline and scale influencer marketing for well-known brands and agencies. Their pioneering capabilities include influencer research and discovery, campaign management, and metrics and reporting suites.
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Influencers have started opting for live streaming for conducting Q&A sessions, real-time product unboxing, and more. The number of active social media users in January 2019 grew to 3.4 billion, up 9% year-on-year. Mobile phone user statistics in 2019 were 5.1 billion, up 2% year-on-year. These statistics reveal the growing adoption of video content. Hence, growing demand for video content and live interactive sessions, growing adoption of smartphones, rising broadband internet penetration, growing number of social media accounts, and lower data delivery costs , along with the integration of advanced technologies such as artificial intelligence (AI), are factors that are expected to generate numerous growth opportunities for the influencer marketing platform market in the near future.
There has been a significant drop in collaboration with brands due to restrictions imposed following the COVID-19 outbreak. Digital platforms have gained immense traction as there has been an extraordinary increase in the consumption of social media platforms during the practice of social distancing. With the growing use of social media, influencers have had the opportunity to keep their audience engaged with their creative content. However, preventative strategies have hampered the influencer marketing industry to some extent. For example, the hospitality sector has been negatively impacted due to travel restrictions. Additionally, food bloggers struggled to keep their social media feeds up to date. Therefore, the COVID-19 pandemic has urged influencers and brands to assess and restructure their marketing strategies to maintain user engagement.
Video content to positively impact the influencer marketing platform market:
With the improvement in internet speed and the availability of low cost streaming, the demand for video content is increasing dramatically. Most social media influencers embrace video content to influence their audience. Previously, YouTube focused on video, but now big players like Instagram, Facebook, LinkedIn, Twitter and others are also offering video content. It is expected that by 2022, approximately 80% of all Internet traffic will be for video. The key driver for video content is the growing adoption of smartphones and the availability of high-speed internet at affordable prices. Brands are expected to significantly adopt video influencer marketing and operate on video influencer platforms.
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Influencer Marketing Platform Market: Application
The global influencer marketing platform market, based on application, is segmented into research and discovery, campaign management, influencer relationship management, analytics and reporting, and others. The search and discovery segment held the largest market share in 2019. Influencer search and discovery is an integrated search mechanism on influencer platforms. Influencer Search and Discovery is a comprehensive tool that allows businesses to find influencers who have followers that match those businesses’ target audience. Various influencer platform companies, such as Upfluence, NeoReach, AspireIQ, Julius, Open Influence, Doveltale, Tapinfluence, and Onalytica, offer influencer research and discovery services to brands and agencies. Julius offers influencer discovery and campaign management platforms for different types of influencers and brands/agencies.
The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
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Contact person: Sameer Joshi
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