Global Influencer Marketing Platform Market

Influencer Marketing Platform Market: Insights

Influencer marketing platforms are a specific type of software or solutions that can help end-users plan and execute influencer based campaigns smoothly and effectively. The software helps the user to find its appropriate influencer, audience, and platform to promote and track marketing campaigns online.

With the rising use of social media platforms by most of the age groups across the globe, many organizations are taking advantage of this platform to increase brand visibility, brand-customer communication & engagement, and advertisement. This platform is flexible and helps organizations to promote their products and services through content-driven advertisements. This is majorly done by collaborating with the social media influencers to create digital content to draw customer attention and interest. Due to the presence of large number of millennial influencers on social media platforms, such as Instagram, and Facebook, the organizations are gaining popularity for their products and services worldwide through influencer marketing platform and thus helping the market grow exponentially.

The rising requirement for brands and agencies to encourage further associations with buyers is adding to the development of the market for influencer marketing platform/ software. Technical advances and the use of unique marketing strategies in the branding and advertisement industry has helped organizations adopt such software and services. Influencer marketing software has assisted such companies to increase and maximize their global reach and geographical footprint. Furthermore, the rising adoption of ad blocking software and increasing preference for video and audio-based content across social media platforms and OTT platforms have helped the market grow immensely in 2019.

Influencer Marketing Platform Market: By Component

The market can be segmented Software & Services [Consulting, Deployment & Integration, and Support & Maintenance]. The services segment will be the fastest-growing segment owing to increasing adoption and customer interest in installing influencer marketing platforms/ software for digital promotion across Facebook, Instagram, LinkedIn, Tumblr, etc.

Influencer Marketing Platform Market: By Application

As per applications or uses of this software / platform, the market can be segmented into campaign management, search & discovery, influencer relationship management,compliance management & fraud detection, analytics & reporting, and other applications. The search & discovery segment will be the largest shareholder in the market as of 2019. For fruitful marketing and branding of products, companies look for a valuable and appropriate audience to target. Brand promotion becomes easier and gives positive returns if promoted amongst apt audiences. Hence, the search and discovery segment will be the largest shareholder in the market and will continue to dominate from 2020 to 2026.

Influencer Marketing Platform Market: By Organization Size

This market can be divided into small & medium-sized and large-sized enterprises as per the size of the organization outlook. Owing to the increasing adoption of unique marketing strategies, high purchasing power, established geographical footprint, and product line, the market has witnessed a higher share for large-sized enterprises as compared to the SMEs. 

Influencer Marketing Platform Market: By End-User

Based on the end-user analysis, the market can be divided into travel & tourism, agencies & PR, fashion & lifestyle, retail & consumer goods, ad-tech, health & wellness, banking & finance, and other end users. The fashion & lifestyle industry is estimated to be the largest and fastest-growing end-user segment in the market from 2020 to 2026. This is mainly due to the rising propensity of millennial purchasing items exhibited by their influencers, efficient brand introduction and visibility on the OTT platform, and money related remuneration to the clothing and accessories industry.

Influencer Marketing Platform Market: By Region

With the growing number of Instagram and Facebook influencers, increasing access to social media to most of the millennials, and the rising number of users adopting ad-blocking software will help the North American region by the dominant market from 2020 to 2026. On the other hand, the Asia Pacific and Europe will be the fastest-growing regional segment owing to the increasing adoption of the latest marketing strategies by organizations, the high reach of the internet, and increasing subscription to social media platforms.

Influencer Marketing Platform Market: Share & Competitor Analysis

Quotient Technology, IZEA Worldwide, Launchmetrics, Traackr, Inc., JuliusWorks, Inc., Upfluence Inc., AspireIQ, Klear, CreatorIQ, Impact, Mavrck, Brandwatch, Onalytica, Linqia, Social Beat, ExpertVoice, Lumanu, Inc., Lefty, InfluencerDB, Gemssy Technologies, S.L.,Tagger, Fourstarzz Media LLC, Juulr, Insense, Intellifluence, Talent Village, Blogmint, The Room, Zine, and Captiv8 Inc. among others are the major players in the market.

Please note: This is not an exhaustive list of companies profiled in the report.

In November 2020, Launchmetrics successfully acquired Parklu, which is an Asian company offering influencer analytics software. This merger helped Launch metrics to expand its reach in the Chinese market.

In March 2020, IZEA launched its new product namely, the BrandGraph, which is software for social media marketers. It’s a social intelligence platform that processes ~400 million content videos across 4.5 million social media influencers globally.