Overview and Scope
An influencer marketing platform refers to an automated software solution designed to assist brands and agencies in managing and executing influencer marketing campaigns. These platforms are used to provide a database of influencers across social media platforms, tools for campaign management and metrics to track the performance of influencer campaigns.
Sizing and Forecast
The influencer marketing platform market size has grown exponentially in recent years. It will grow from $15.97 billion in 2023 to $21.32 billion in 2024 at a compound annual growth rate (CAGR) of 33.5%. The growth in the historic period can be attributed to rise of social media channels, increasing influence of social media influencers, data analytics for audience insights, demand for authenticity and personalization, evolving consumer behavior.
The influencer marketing platform market size is expected to see exponential growth in the next few years. It will grow to $66.02 billion in 2028 at a compound annual growth rate (CAGR) of 32.7%. The growth in the forecast period can be attributed to emergence of new social media platforms, integration of e-commerce features, advanced ai-driven analytics, rise of micro-influencers, focus on long-term relationships. Major trends in the forecast period include micro-influencers on the rise, ai-powered influencer matching, video content dominance, ephemeral content and stories, authenticity and transparency.
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Segmentation & Regional Insights
The influencer marketing platform market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Application: Search And Discovery, Campaign Management, Influencer Relationship Management, Analytics And Reporting, Compliance Management And Fraud Detection, Other Applications (Workflow Automation And Time Management And Third-Party Integration)
3) By End User: Fashion And Lifestyle, Agencies And Public Relations, Retail And Consumer Goods, Health And Wellness, Ad-Tech, Banking And Financial Institutes, Travel And Tourism , Other End Users
North America was the largest region in the influencer marketing platform market in 2023. The regions covered in the influencer marketing platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing use of smartphones is expected to propel the growth of the influencer marketing platform market going forward. Smartphones refer to mobile devices that offer advanced computing capabilities and connectivity. Influencers create content for their social media platforms directly from their smartphones. The built-in cameras and editing tools on smartphones enable influencers to capture and edit high-quality photos and videos for their campaigns. For instance, according to Datar portal, a Singapore-based online reference library, between 2022 and 2023, there was a 2.3% increase, equivalent to 1.4 million, in the number of mobile connections in the Republic of Korea. Therefore, the increasing use of smartphones is driving the growth of the influencer marketing platform market.
Key Industry Players
Major companies operating in the influencer marketing platform market report are Quotient Technology Inc., Hootsuite Inc., Impact Tech Inc., Brandwatch, Launchmetrics, AspireIQ Inc., IZEA Worldwide, Linqia Inc., Traackr Inc., Social Beat Digital Marketing LLP, ExpertVoice Inc., Open Influence, Onalytica, Maverick, JuliusWorks Inc., Lefty, Klear, CreatorIQ, Tagger Media Inc., Influencity, NeoReach, Lumanu Inc., Takumi, Upfluence Inc., GrapeVine Logic Inc., Tidal Labs, Markerly Inc.
The influencer marketing platform market report table of contents includes:
1. Executive Summary
2. Influencer Marketing Platform Market Characteristics
3. Influencer Marketing Platform Market Trends And Strategies
4. Influencer Marketing Platform Market – Macro Economic Scenario
5. Global Influencer Marketing Platform Market Size and Growth
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32. Global Influencer Marketing Platform Market Competitive Benchmarking
33. Global Influencer Marketing Platform Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Influencer Marketing Platform Market
35. Influencer Marketing Platform Market Future Outlook and Potential Analysis
36. Appendix
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