The Global Influencer Marketing Platform Market Size was valued at USD 11.7 Billion in 2022 and is anticipated to reach USD 192.4 Billion by 2032 with a CAGR of 32.8% from 2023 to 2032.

The global influencer marketing platform market size is projected to grow significantly over the forecast period. This is owing to the increasing popularity of social media platforms and the rising prevalence among users, which is boosting the demand for the influencer marketing platform industry. Moreover, the substantial shift in customer preferences towards video-based content on OTT platforms, coupled with the increasing adoption of ad-blocking solutions, is expected to drive the growth of the influencer marketing platform market.

An influencer marketing platform is an innovative software solution that businesses and agencies employ to efficiently handle and manage their influencer marketing campaigns and engagements. Influencer marketing is one of the most effective methods for swiftly building influencer advertising strategies and increasing awareness among the intended audience. According to Forbes, influencer marketing is expanding faster than digital advertising, with a focus on utilizing an industry leader's followers to fuel growth in their own firm. Indeed, influencer marketing should be used actively in social media advertising to improve brand awareness, bring the content in front of new eyes, and produce new leads for the sales funnel. Moreover, influencer platforms' features have recently grown to encompass campaign management, relationship management, influencer markets, third-party analytics, as well as influencer content amplification.

Influencer Marketing Platform Market Dynamics

The growing adoption of marketing platforms by influencers and marketers is a crucial factor propelling the growth of the influencer marketing platform market. Furthermore, the increased demand for big data analytics in digital advertising, the desire to establish a brand image, and the rising popularity of ad-blocking software are among the primary reasons driving the influencer marketing platform market trend.

In addition, COVID-19 has significantly influenced the global influencer marketing platform market. Consequently, consumers are seeking genuine individuals, making micro-influencers more important than ever. This shift has created new opportunities for businesses to engage with their audiences through innovative digital marketing methods, including influencer marketing platform solutions. According to a recent research survey conducted by the influencer marketing platform provider Zefmo, approximately 92% of marketers planned to use social media marketing strategies in 2020. As a preventive measure during the COVID-19 pandemic, most governments implemented lockdowns. As a result of spending more time at home, consumers have increased their usage of online social media platforms, leading to a surge in the demand for the influencer marketing platform market.

However, limited campaign influence, a lack of technological understanding, and an increase in the availability of niche professionals are among the primary factors inhibiting the influencer marketing platform market share throughout the projection period.

Influencer Marketing Platform Market Segmentation

The global influencer marketing platform market has been segmented based on components, applications, organization size, and end-users. In terms of components, the market is divided into solutions and services (including deployment and integration, consulting, and support and maintenance). The solution segment is expected to witness significant growth in the coming years as providers continually work on developing innovative techniques for engaging with clients, building relationships, and identifying new market prospects. Currently, software as a service (SaaS)-based influencer marketing solutions are becoming increasingly popular due to their offerings that provide marketers with end-to-end solutions.

Regarding applications, the industry is segregated into campaign management, analytics and reporting, search and discovery, influencer management, compliance management and fraud detection, and others. According to influencer marketing platform industry analysis, the search and discovery segment is poised to lead the market in 2021. This growth is primarily attributed to increased engagements between marketers and influencers for specific marketing campaigns. Search and discovery technologies assist businesses in finding the right marketing strategies for influencers using audience demographics and psychographics, performance, and content effectiveness. For instance, HypeAuditor offers search and discovery solutions for various social media platforms such as Instagram, TikTok, and YouTube.

By organization size, the market is classified into large enterprises and small and large enterprises. The large enterprise segment accounted for the largest market share in 2021, driven by the growing desire for cost-effective marketing techniques and strategies. Furthermore, due to COVID-19 infections, various large-scale organizations restricted their commercial operations during the global pandemic. Consequently, their advertising budgets were reduced, resulting in a demand for new marketing strategies and the increased use of online services as a primary channel of advertisement.

In terms of end-users, the market is categorized into fashion and lifestyle, travel and tourism, agencies and PR, ad-tech, health and wellness, banking and finance, retail and consumer goods, and others. According to influencer marketing platform market forecasts, the fashion and lifestyle segment is expected to grow significantly in the industry over the next few years. The increased demand from high-end fashion and lifestyle entities to become more reachable to consumers and create tighter relationships with them is driving the emergence of such advertising techniques. Moreover, fashion enthusiasts enable businesses to communicate with and market to their target audience by providing visually appealing photographs, video content, and utilizing affiliate marketers.

Global Influencer Marketing Platform Market Geographical Competition

Geographically, North America currently has a larger proportion of the Influencer marketing market than other regions. Some of the key drivers of the North America influencer marketing platform industry include the expanding number of smart consumer electronics, the growing proportion of social media users, as well as the population explosion across the region. Government agency support and the benefits derived from digital sites serving as influencer marketing platforms are likely to drive the overall expansion of the influencer marketing platform market throughout the forecast period. Furthermore, the United States is one of the world's largest marketplaces for influencer marketing platforms. The ongoing adoption of influencer marketing platform services and solutions across major industries, including travel and hospitality, entertainment and media, e-commerce, healthcare, and others, will drive demand for the influencer marketing platform market in the United States and Canada.

Global Influencer Marketing Platform Industry Segment Analysis

Market by Component

·         Solutions

·         Services

o   Deployment and Integration

o   Consulting

o   Support and maintenance

Market by Application

·         Campaign Management

·         Analytics & Reporting

·         Search & Discovery

·         Influencer Management

·         Compliance Management and Fraud Detection

·         Others

Market by Organization Size

·         Large Enterprises

·         SMEs

Market by End-user

·         Fashion And Lifestyle

·         Travel And Tourism

·         Agencies and PR

·         Ad-tech

·         Health And Wellness

·         Banking And Finance

·         Retail And Consumer Goods

·         Other

Influencer Marketing Platform Market Leading Companies

The players profiled in the report are ExpertVoice Inc., Traackr, Inc., Quotient Technology Inc., JuliusWorks, Inc., CreatorIQ, Impact Tech, Inc., Linqia, Inc., Social Beat Digital Marketing LLP, Lumanu Inc., Launchmetrics, InfluencerDB, Onalytica, IZEA Worldwide, Brandwatch, and Taggermedia.

Influencer Marketing Platform Market Regions