A recent report published by Infinium Global Research on the influencer marketing platform market provides an in-depth analysis of segments and sub-segments in the global as well as regional influencer marketing platform market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional influencer marketing platform market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global influencer marketing platform market. According to the report, the global influencer marketing platform market is projected to grow at a CAGR of 32% over the forecast period of 2020-2026.
Influencer marketing platforms are online solutions that are particularly designed to help brands with their influencer marketing campaigns. These platforms help to create a good brand image among people and also help brands to reach their target audiences. Influencer marketing is one of the latest forms of marketing that aids brands to upsurge their sales. Furthermore, an influencer marketing platform helps influencers to monetize their social media channel and brands in order to reach their potential consumers or upsurge customer engagement with their older customers. These marketing platforms are utilized in numerous applications such as analytics and reporting, influencer relationship management, fraud detection, campaign management, etc. Additionally, the current concern over the spread of coronavirus is also expected to have a positive impact on the influencer marketing platforms market. Due to the COVID-19 outbreak, most of the office premises across the globe are closed and companies are using digital platforms to promote their businesses. Digital platforms gained immense traction and this has resulted in new brand collaborations. In addition, most people are staying at home and maintaining social distancing, which upsurges the demand for social medial platforms in the market. Owing to the increasing usage of social media, influencers have gained the opportunity to keep their target audiences betrothed with creative and positive content. Considering the scenario of the COVID-19 pandemic, brands are now shifting their concentration to be more sensitive to the present situation by leveraging digital influencers to spread the message of safety and health.
Increasing demand for the content-based band live interactive video sessions, mounting social media subscribers, growing smartphone users and rising penetration of high-speed internet are the major factors that are pouring the market growth of influencer marketing platforms. Furthermore, reducing data streaming costs and upsurge in adopting ad-blocking software is also boosting the market growth. Direct marketing needs more time, money and personal attention to save time brands are looking for the right influencer, which escalates the demand for influencer marketing platforms. In addition, increasing integration of advanced technology such as artificial intelligence, big data, data analytics, machine learning, etc. is offering lucrative opportunities for influencer marketing platform providers. Nevertheless, security and privacy concerns and lack of capabilities to measure the effectiveness of the campaign would hamper the market growth during the projection period.
Among the geographies, the North America region is expected to hold the largest share in the global influencer marketing platforms market. The industry is expected to offer huge opportunities for influencer marketing platforms market growth on account of the presence of numerous key players. Also, the region has a strong base of technology which boosts the market growth. Furthermore, the Asia Pacific region is anticipated to witness high growth in the influencer marketing platforms market during the forecast period. The inclination towards advanced technology such as Artificial Intelligence, machine learning, etc., and increasing investment in influencer marketing by companies is augmenting the demand for influencer marketing platforms in this region which leads to boost the market growth during the projection period.
The report on the global influencer marketing platform market covers segments such as component, application, enterprise size, and end user. On the basis of component, the sub-markets include solution and services. On the basis of application, the sub-markets include search and discovery, campaign management, influencer relationship management, analytics and reporting, compliance management and fraud detection, and others. On the basis of enterprise size, the sub-markets include large enterprises and SMEs. On the basis of end user, the sub-markets include fashion and lifestyle, retail and consumer goods, health and wellness, banking and finance, and others.
The report provides profiles of the companies in the market such as AspireIQ, Grapevine Logic Inc., Klear, Mavrck, NeoReach, Speakr Inc, Traackr Inc., Upfluence Inc., Webfluential, and Hypetap Pty Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the influencer marketing platform market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.