Global Influencer Marketing Platform Market To 2027 Leading Players HYPR, InfluencerDB, IZEA Worldwide, JuliusWorks, Launchmetrics, Lefty, Mavrck, NeoReach, Traackr, Upfluence

The global influencer marketing platform market accounted at US$ 137.1 Mn in 2018 and is expected to grow at a CAGR of 12.3% during the forecast period 2019 - 2027, to account to US$ 373.5 Mn in 2027.

Influencers are significantly adopting the trend of influencing their audience by video. Influencers show their audience the latest trends in their niche and typically lead the charge when social network adds a new feature. Influencers are increasingly posting video content across social platforms. Factors such as high engagement rate and more authentication are enabling influencers to adopt video content for marketing. Thus, video content is expected to drive the influencer marketing platform market during the forecast period.

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Some of the leading players in global market are HYPR (Mogimo Inc.), InfluencerDB (InfluencerDB Tech GmbH & Co. KG), IZEA Worldwide Inc, JuliusWorks Inc., Launchmetrics (Fashion Gps, Inc.), Lefty (Modern Agency SAS), Mavrck (Apifia Inc.), NeoReach, Traackr, Inc., Upfluence

Vendors have a massive opportunity by integrating advanced technology such as big data analytics and artificial intelligence (AI) with an influencer marketing platform. Customers have a huge demand for advanced computing technologies. One of the biggest trends to hit Influencer Marketing Platform is the ability to extract valuable information from customer behavior to help business owners to make smarter business decisions.The global influencer marketing platform market by offerings was led by solution segment. Brands are looking for innovative ways to tap this section of customers and influencer marketing through social media platforms is a perfect solution for this issue. Due to these factors, the demand for influencer marketing platform market is increasing among brands and agencies to find relevant influencers that match their exact requirements.

The global influencer marketing platform market by application was led by search & discovery segment. However, analytics & reporting segment is expected to hold the most significant influencer marketing platform market share by 2027. Businesses which are using influencer marketing platforms to search influencers, also use these platforms to gain insights into their spending and campaign through various analysis and reporting tools provided by these platforms. Some of these tools include audience analysis, analytics reporting, post engagement analytics, campaign performance analysis, and dashboards.

The global influencer marketing platform market is segmented on end-user as fashion & lifestyle, marketing agencies, retail & consumer goods, travel & hospitality, and others. The others section includes interior & home décor, electronics, art, and others. Fashion & lifestyle is witnessing the highest CAGR growth in the influencer marketing platform market. The fashion and lifestyle industry is mostly visual-based as the audience respond better to images and videos of fashion & lifestyle related product. Hence, companies in this industry are mainly focusing on image & video-based social media platforms such as Interest, Instagram, and YouTube, thereby demand influencer marketing platform market growth is expected to flourish. In 2018, search & discovery application was estimated to dominate the influencer marketing platform market.

The Asia Pacific is the fastest-growing geographic market. The Asia Pacific comprises of a population of over 4.4 Bn, which is witnessing high growth in internet penetration as well as an increasing number of social media users’. Social media is one of the critical drivers for Asian people to go online; however, a considerable disparity exists among Asia Pacific countries. Influencer marketing is booming in the region, however reaching to consumers in the region sometimes become difficult. Presence of several countries with different cultures and languages is acting as a significant barrier. Some of the potential issues that should be taken into consideration before selecting an appropriate influencer in Asian countries include a platform of choice, identification of influencers with genuine followers, and cost of these influencers.

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This release was published on openPR.