Influencer Marketing Platform Market Analysis Report By Application, By Organization Size, By End Use And Segment Forecasts From 2019 To 2025

Industry Insights

The global influencer marketing platform market size was accounted for USD 4.6 billion, in 2018. It is projected to grow with a CAGR of 26% over the estimated duration. The market growth is attributed to increasing focus by agencies and brands to make deeper connections with the customers to increase the visibility of the brand. Technological advancement in advertising has encouraged companies to focus more on digitalization. Influencer marketing has allowed companies to increase their presence globally. Moreover, the marketing platform allows organizations to work along with influencers with who customers relate, thereby, promoting improved connections and greater involvement.

The penetration of social media has permitted organizations to boost their customer engagement through influencers. Social media permits companies to involve in content-driven promotion by partnering with a suitable personality to develop an identity for customers. The presence of numerous millennials, and several influencers at various social media platforms such as Facebook and Instagram, also promote organizations to use influencer marketing for making a more noticeable impact on the millennials. For example, iFluenz, an influencer on Instagram, supported Yves Rocher to gather considerable views for the new product array Eco-Douche.

Ongoing innovations, along with virtual influencers, are predicted to supplement the demand of these social media platforms. These platforms can offer more precise results over human influencers based on past performance, qualified engagement, and brand alliances. It also offers cost-effective scalability and excellent creative freedom, which assist in selecting the right customer. The fashion industry is increasingly preferring virtual influencers for their advertisements. For example, Lil Miquela in 2018, partnered with brands such as Chanel and Prada, which earned immense popularity.

Despite the extensive preference for these platforms, various firms and brands are stressing to quantify the benefit of these platforms. Such firms and brands are projected to offer several growth prospects to the influencers market to partner with them, in turn, fueling the market growth over the estimated period. The growing emphasis on creating marketable and authentic content has driven marketers to use influencer marketing platforms. Influencers are trustworthy sources for gathering suitable information about various products rather than conventional advertisements media.

Application Insights

The search & discovery division occupied a 37% of revenue share in 2018 due to growing demand from companies to partner with various influencers to propel their digital marketing campaigns. The requirement for a suitable influencer to assist customers to engage in smart and efficient interactions is anticipated to drive the growth of the segment in the upcoming years. Search and discovery division helps in saving resources and time, authorize marketers to choose appropriate influencers based on certain criteria, influencer engagement rate, and audience demographics. Such aspects assist in determining suitability for maximum audience engagement.

The analytics & reporting category contributed considerably to the growth of the influencer marketing platform market in 2018. Surging demand from marketers to check the effectiveness of their online advertisements is anticipated to accelerate the growth of analytics & reporting from 2019 to 2025. This segment offers real-time reports on various aspects such as interactions, reach, engagement rates, and impression, which assists companies to undertake efficient measures during various circumstances.

Growing requirement of gauge factors such as database growth, website traffic, and sales are driven by affiliate marketing, which is projected to fuel the segment growth over the estimated years. Influencer marketing platforms, including Socialbakers and Traackr, provide detailed insights on campaign competitiveness by benchmarking their performance over competitors, which assist in optimizing investment.

Organization Size Insights

Large enterprise division held the maximum share in revenue in 2018. Marketing services and products by influencers allow large corporations to create long-lasting trust over conventional promotional strategies. Influencer marketing also assists in generating higher returns and excellent Search Engine Optimization (SEO). Large enterprises are predicted to use the platform as they aid in social media marketing and build greater customer relationships.

Influencer marketing is also widely preferred in Small & Medium Enterprises (SMEs) due to cost-effectiveness and high ROI over conventional marketing strategies. Service providers such as AspireIQ offer personalized advertisement designs for SMEs. Moreover, the influencer marketing platform provides detailed understandings such as psychographic and demographic data, which assist in designing more customized campaigns for SMEs. Influencer marketing permits to gather more traffic on the website, thereby, generating more leads, resulting in bolstering the sales.

End-use Insights

The fashion & lifestyle division occupied more than 35% share in revenue in 2018. The growing usage of social media by millennials is encouraging brands to satisfy customer needs, thereby, augmenting the growth of the market. The increasing preference of millennials to purchase products showcased by their preferred influencers is further projected to boost market growth in the coming years. Partnering with the appropriate companies offers influencers with prospects to generate relatable and meaningful content for the audience, thereby, propelling the product demand from 2019 to 2025.

The food & entertainment is expected to occupy a noticeable market share in the upcoming years, due to rising customer demand for new ways of pallet and entertainment. Resorts and restaurants to influencer marketing as a form of visual communication to make a profound impact on audiences. The accessibility of streaming services on several Over-The-Top (OTT) platforms drives millennials to discover new entertainment platforms, having greater audience engagement. For example, The British Broadcasting Corporation partnered with Sammy Albon and Niki, British you tubers, inviting their followers and generating more engagement.

Regional Insights

North America occupied the largest revenue share in 2018. The presence of numerous ad-blockers has led companies to discover other ways to reach their audiences, thereby, rising demand for an influencer marketing platform. The increasing Instagram users are predicted to boost the growth of the market in the coming years. The region is projected to grow considerably as organizations in Canada are yet to opt for influencer marketing as compared to the U.S. This factor is expected to offer good avenues for product growth in the region over the forecast years.

Europe is predicted to foresee substantial growth from 2019 to 2025. The penetration of content marketing owing to creative freedom over social media marketing is projected to fuel the market growth. Moreover, online magazines are collaborating with famous bloggers, which helps in attracting more audiences and increase website traffic. The growing inbound leads owing to the preference of influencer advertising are predicted to bode well for the market growth over the estimated years.

Influencer Marketing Platform Market Share Insights

Leading players of the industry are AspireIQ; Hypetap Pty Ltd.; Traackr Inc.; Grapevine Logic Inc.; Mavrck; Speakr Inc.; NeoReach; Klear; Webfluential; and Upfluence Inc. among others. Service providers are emphasizing the development of Machine Learning (ML) and Artificial Intelligence (AI) solutions to maintain their dominance in the market. For example, Hypetap Pty Ltd has introduced an AI-based tool, which is predicted to enable marketers to recognize activities, people, objects, and scenes on various social media to choosing which influencer is suitable for collaboration. Affable.ai is an AI-supported advertising platform that uses enhanced technologies to provide superior services at a cost-effective rate and also offers pre-established CRM to incorporate competitive business communications among brands and influencers.

Report Scope

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 2015 to 2025. For this study, Million Insights has segmented the global influencer marketing platform market report based on application type, organization size, end-use, and region:

• Application Outlook (Revenue, USD Billion, 2015 - 2025)
    • Campaign Management
    • Search & Discovery
    • Analytics & Reporting
    • Influencer Management

• Organization Size Outlook (Revenue, USD Billion, 2015 - 2025)
    • Large Enterprises
    • SMEs

• End-use Outlook (Revenue, USD Billion, 2015 - 2025)
    • Food & Entertainment
    • Sports & Fitness
    • Travel & Holiday
    • Fashion & Lifestyle
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • MEA