The global influencer marketing platform market size is anticipated to reach USD 143.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 33.0% during the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing need for end-to-end solutions for managing influencer-generated content, identifying social influencers, and analyzing influencer marketing campaigns. The elevating demand for these solutions across the industries, such as fashion, retail, cosmetics, and e-commerce, is expected to provide promising growth prospects to the influencer marketing platform market.
The market statistics are being further strengthened by the high adoption rate of virtual influencers based on Computer-Generated Imagery. Virtual influencers use demographic and audience data obtained from various platforms and consumer forums to provide more accurate results. In this regard, the fashion and lifestyle industry offers a wide scope for virtual influencers owing to their ability to stay abreast with fast fashion trends and higher creativity.
The changing content consumption trends are expected to drive the growth of the influencer marketing platform market in the upcoming years. For instance, the increasing demand for Over-The-Top (OTT) media services and their collaboration with influencers for to advertise and promote their content are opening new growth avenues for the influencer marketing platform market.
Apart from the aforementioned factors, the emergence of 5G technologies is also expected to provide an impetus to the influencer marketing platform market. The 5G technology offers improved connectivity and enhances automation of marketing practices, which, in turn, increases media consumption. Besides, 5G will also significantly increase the demand for digital video advertising due to greater bandwidth and connectivity. This will allow influencers to deliver high-resolution 4K video content, faster page loading, and a better click-through rate to the brands.
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The influencer management segment is anticipated to observe significant growth during the forecast timeline owing to the increased adoption of influencer marketing strategies by the corporations
The SME segment is expected to grow at the fastest CAGR of 15.7% over the forecast period, owing to the increased adoption in SMEs to implement more efficient and cost-effective marketing strategies
The Asia Pacific is estimated to capture a sizeable revenue share, expanding at a CAGR of over 36.5% during the forecast period due to the entry of numerous influencer marketing startups in China and India
Grand View Research has segmented the global influencer marketing platform market report on the basis of application, organization size, end use, and region:
Influencer Marketing Application Outlook (Revenue in USD Million, 2017 - 2030)
Search & Discovery
Analytics & Reporting
Influencer Marketing Organization Size Outlook (Revenue in USD Million, 2017 - 2030)
Influencer Marketing End Use Outlook (Revenue in USD Million, 2017 - 2030)
Food & Entertainment
Sports & Fitness
Travel & Holiday
Fashion & Lifestyle
Influencer Marketing Regional Outlook (Revenue in USD Million, 2017 - 2030)
Middle East & Africa
List of Key Players in Influencer Marketing Platform Market
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