GVR Report cover Influencer Marketing Platform Market Size, Share & Trends Report

Influencer Marketing Platform Market Size, Share & Trends Analysis Report By Application, By Organization Size, By End-use, By Region, And Segment Forecasts, 2022 - 2030

  • Published Date: May 2022
  • Report ID: GVR-4-68038-159-7
  • Number of Pages: 171
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2020

Report Overview

The global influencer marketing platform market size was valued at USD 10.39 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 33.4% from 2022 to 2030. This can be credited to the shifting inclination of brands from traditional celebrities to online influencers to endorse their products. The term influencer marketing is gradually becoming an indispensable part of the mainstream branding strategies across organizations. It is an amalgamation of conventional celebrity endorsements and content-driven marketing strategies.  

U.S. Influencer marketing platform market size, by application, 2020 - 2030 (USD billion)

The increased application of the internet for advertisements has significantly transformed the business models of various companies and has provided marketers with new means to reach target audiences. Such promotional activities allow marketers to provide personalized advertisements, enhancing the customer experience. Social media platforms, including Instagram, Meta (Facebook), Pinterest, and YouTube, have gained massive traction for such marketing purposes. These new ways of branding and promotion are expected to enhance the influencer marketing platform market outlook in the subsequent years.

The influencer marketing platforms gained immense popularity during the COVID-19 pandemic. The government-mandated lockdown restrictions forced the production houses and advertisement agencies to halt the scheduled advertisement shootings, urging the companies to resort to alternate promotion methods. The increased social media usage during the lockdown also encouraged the adoption of influencer marketing. This trend is expected to continue even after the pandemic.  

Application Insights

The search and discovery segment held a revenue share of around 35% in 2021, thanks to increasing collaborations between brands and influencers for a particular campaign. The search and discovery solutions help companies find the appropriate brand ambassadors using audience demographics, performance, and effectiveness of content. For instance, HypeAuditor provides search and discovery features for various social media platforms, such as TikTok, Instagram, and YouTube.

The analytics and reporting segment is expected to register substantial gains over the upcoming years owing to the rising need among companies to analyze the critical factors of promotion campaigns, campaign effectiveness, content penetration, and engagement of influencers. These factors allow companies to change the content as per their requirements. For instance, Smartfluence is a renowned predictive analytics services provider that enables clients to address the potential risks in influencer campaigns.

Organization Size Insights

The large enterprise segment held a revenue share of more than 70% in 2021, owing to the increasing demand for effective and cost-effective marketing strategies. Several large-scale organizations had restricted their business activities during the pandemic. This subsequently reduced their advertising budget, creating the demand for newer promotion tools and leveraging the internet as a primary channel of marketing. Moreover, these enterprises have a considerable social media following, which can help them increase engagement through influencers and develop effective business relations.

The SME segment is anticipated to record a significant growth rate of around 35.0% during the forecast period. The growth can be credited to the increasing collaboration of these companies with micro-and nano-influencers to create brand awareness and bring traffic to their website at affordable prices. For instance, in April 2022, a prominent influencer marketing platform Mavrck announced to team up with a leading social media marketing and commerce platform later for small businesses and creators.

End-use Insights

The fashion and lifestyle segment accounted for a revenue share of more than 29% across the influencer marketing platform market in 2021. This can be ascribed to the increasing adoption of influencer marketing to meet the rising need for high-end lifestyle and fashion brands to be more approachable to people. Various fashion companies employ influencers to advertise new clothes and accessories, thereby keeping people abreast with the latest fashion trends.

Global influencer marketing platform market share, by end-use, 2021 (%)

The food and entertainment segment held a significant revenue share of more than 23% in 2021, considering the increasing demand for new and diverse entertainment forms such as Over-The-Top (OTT) platforms, mobile game tournaments, online music events, etc. This significant rise in screen time during the pandemic provided the food and entertainment companies with an opportunity to implement influencer marketing to promote new online content and events.

Regional Insights

North America dominated the influencer marketing platform market by capturing a revenue share of more than 30% in 2021. This can be mainly attributed to the increased consumer engagement in social media and OTT platforms in the U.S., especially during the pandemic, as people practiced social isolation. This, in turn, offered the corporations an opportunity to use influencer marketing to promote their products and services. Besides, the presence of a skilled workforce engaged in platform development, digital marketing, and AI-based analytics in the region is also favoring the market growth.

Europe is anticipated to observe a growth rate of nearly 32.0% through 2030 with the increased adoption of branding practices by prominent fashion brands such as Chanel, Christian Dior SE, and Versace in the region. These brands are focusing on increasing their market penetration and capturing an extensive customer base through micro-and nano-influencers. Moreover, the ongoing deployment of automated systems in the Nordic countries, helping them find influencers and buy traffic, is contributing to the market growth further.

Key Companies & Market Share Insights

Various major players operating in the influencer marketing platform market are focusing on the diversification and enhancement of their services. This has helped the companies provide more detailed insights to clients and marketers regarding product sales, thereby helping them make data-driven decisions. For instance, in June 2021, Marriott International, Inc. incorporated the services of Upfluence Inc. to enhance their influencer discovery, marketing, and tracking of their global campaign. Some prominent players operating in the global influencer marketing platform market are:

  • Upfluence Inc.

  • Speakr Inc.

  • AspireIQ

  • Grapevine Logic Inc.

  • Mavrck

  • Klear

  • NeoReach

  • Traackr Inc.

  • Webfluential

  • Hypetap Pty Ltd.

Influencer Marketing Platform Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 14.27 billion

Revenue forecast in 2030

USD 143.10 billion

Growth rate

CAGR of 33.4% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, organization size, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico

Key companies profiled

Upfluence Inc.; Speakr Inc.; AspireIQ; Grapevine Logic Inc.; Mavrck; Klear; NeoReach; Traackr Inc.; Webfluential; Hypetap Pty Ltd.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global influencer marketing platform market report based on application, organization size, end-use, and region:

  • Application Outlook (Revenue, USD Billion, 2018 - 2030)

    • Campaign Management

    • Search & Discovery

    • Analytics & Reporting

    • Influencer Management

  • Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

    • Large Enterprises

    • SMEs

  • End-use Outlook (Revenue, USD Billion, 2018 - 2030)

    • Food & Entertainment

    • Sports & Fitness

    • Travel & Holiday

    • Fashion & Lifestyle

    • Others

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

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