Coronavirus Outbreak to Generate Growth Opportunities For Influencer Marketing Platform Market : Concludes TMR

Influencer marketing is the newest popular form of marketing. It helps brands to sell their products and services to social media platform operators.
An influencer marketing platform is software designed to provide influencer discovery tools and assist brands with their influencer marketing platform.

Many marketers and brands use the influencer marketing platform to expand their campaign. They platform help with a wide scope of activities from influencer discovery to tracking the advancement of a campaign.

Influencer marketing platforms minimize the effort, and saves time taken to scout the influencer on social media. On the other hand, it provides a huge list of influencers with their statistics.
The platform helps to set up and manage a campaign easily. It tracks the progress of the campaign, and generates a detailed report about the campaign.

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Influencer marketing has several benefits such as it is highly focused and relevant, provides value to the target audience, assists in quicker customer acquisition, boosts SEO, and increases brand awareness.

Influencer marketing platforms can be useful for start-up brands or those that have been struggling with gaining traction in their social media marketing.

Some influencer marketing platforms focus on a particular platform such as Instagram, Snapchat, or YouTube; however, the majority operates on different social media channels.
The global influencer marketing platform market is expected to expand during the forecast period due to the growing deployment of CGI-based influencers and increasing digitalization across the globe.

Global Influencer Marketing Platform Market: Key Drivers

Increasing interest in video-based content among the population is the essential driving factor of influencer marketing platforms. Video consumption increased tremendously in the last few years due to increasing 3G, 4G, and 5G smartphones, and is likely to be a growth factor of the global influencer marketing platform market.
Increase in adoption of ad-blocking software, the need to develop a brand image, and need for big data analytics are some additional factors driving the influencer marketing platform market globally.
Simple accessibility of high speed and affordable internet service for clients offers marketers another channel to contact the target audience, which has led to an increase in the growth of the influencer marketing platform market.

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Presently, various sectors are focused on implementing new advanced technologies, which are projected to create opportunities for the influencer marketing platform market during the forecast period. However, lack of awareness about technologies, less influence of campaigns, etc., are some restraining factors that may challenge the growth of the market.

Impact of COVID-19 on the Global Influencer Marketing Platform Market

The COVID-19 pandemic has a positive effect on influencer marketing platforms and has resulted in significant increase in adoption of these platforms.
In a lockdown, various sectors promote their businesses on a cost-effective advertisement medium that is a social media platform. Hence, increase in adoption of such platforms for marketing strategies expands the growth of the global influencer marketing platform market.
North America to Hold Major Share of the Global Influencer Marketing Platform Market

The global influencer marketing platform market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America dominated the global influencer marketing platform market due to large number of COVID-19 cases that resulted in work from home, and increase in adoption of social media for promoting products and service. Additionally, the North American region has talent pools that are based on AI-based analytics, digital marketing, and platform development, leading to the growth of the influencer marketing platform market.
The market in Asia Pacific is expected to grow during the forecast period due to an increase in adoption of advanced technologies, rising social media users, etc. across countries such as China, India, and Japan.

The growing implementation of ad-blocking solutions by users across Europe and Asia Pacific is a growth factor for the influencer marketing platform market.

Global Influencer Marketing Platform Market: Competition Landscape

Various local, regional, and global companies are active in the influencer marketing platform market with a strong presence. Rapid technological advancement offers opportunities in the global influencer marketing platform market. Many competing companies drive innovations and adopt digital transformations through market leaders and emerging players.

Key players operating in the global influencer marketing platform market include:

Impact Tech, Inc.
Linqia, Inc.
IZEA Worldwide Inc.
JuliusWorks, Inc.
Quotient Technology Inc.
Traackr, Inc.
Launchmetrics
ExpertVoice Inc.
Fourstarzz Media LLC
Talent Village Ltd
Tagger media Inc.
Blogmint Inc.
Upfluence Inc

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This release was published on openPR.