Global Influencer Marketing Platform Market Size, Trends, and Analysis- Forecasts To 2026 By Component (Software& Services [Consulting, Deployment & Integration, Support & Maintenance]), By Application (Search & Discovery, Campaign Management, Influencer Relationship Management, Analytics & Reporting, Compliance Management &Fraud Detection, and Other Applications [Workflow Automation & Time Management, and Third-Party Integration]), By Organization Size (Large Enterprises and Small and Medium-Sized Enterprises [SMEs]), By End-User (Fashion & Lifestyle, Agencies & PR, Retail & Consumer Goods, Health & Wellness, Ad-Tech, Banking & Finance, Travel & Tourism, and Other End Users [Gaming & Pet Care]), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
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.
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The Global Influencer Marketing Platform Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Influencer Marketing Platform Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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