Influencer Marketing Platform Market worth US$ 337.74 Million, Globally, by 2027 at 13.4% CAGR - Exclusive Report by The Insight Partners

"Influencer Marketing Platform Market" study by "The Insight Partners" provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.

The Influencer Marketing Platform Market was valued at US$ 148.04 Mn in 2019 and is expected to reach US$ 337.74 Mn by 2027 with a CAGR growth rate of 13.4% in the forecast period from 2020 to 2027.

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With the improvement in internet speed and availability of low cost streaming the demand for video content is significantly increasing. Most of the influencers on social media networks are adopting the trend of video content for influencing their audience. Earlier YouTube has had video focus, but now big players such as Instagram, Facebook, LinkedIn, Twitter, and others are also catering for video content.

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. Influencer Marketing Platform Market are increasingly posting video content across social platforms.

It is expected that by 2022, around 80% of all internet traffic will be for video. The key factor driving the video content is the increasing adoption of smartphones and the availability of high-speed internet at affordable prices. It is expected that the brands will significantly adopt video influencer marketing and will operate across the video influencing platforms.

Factors such as high engagement rate and more authentication are enabling influencers to adopt video content for marketing. Influencers are tapping into the interactive nature of video content to drive sales. Influencers are opting for live-streaming, which includes question & answer sessions, real-time product unboxing, and behind the scenes footage at events. The increasing adoption of video content is significantly driving the Influencer Marketing Platform Market and is expected to witness significant demand during the forecast period.

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Impact of COVID-19 Pandemic on Influencer Marketing Platform Market
COVID-19 outbreak has resulted in a temporary shutdown of several businesses as well as social distancing from the external world. Numerous measures have been implemented to control the coronavirus's spread, such as the imposition of a mandatory quarantine, closure of business setups, travel restrictions, and cancellation of events. Similarly, the marketing landscape has experienced many transformations due to social distancing as well as quarantine, changing the usual way of living. As marketing expenditure has been cut off, brands capitalize on digital marketing methods, including emails, social media, and influencer marketing.

Micro-Influencers Are Making Positive Impact on Market
The trend of opting for micro-influencers rather than mega-influencers is being witnessed in the market. Brands are preferring influencers who have less than 10,000 followers on social media. Micro-influencer interacts and engage with their followers more frequently and is more authentic and relatable.

However, celebrities and mega-influencers have millions of followers, but they aren't as interactive with their audiences and are seem less approachable. Micro-influencer is tending to be knowledgeable regarding their niche, and their followers are more likely to trust their recommendations. Micro-influencers are more affordable than mega-influencers and celebrities.
Due to the increasing demand, macro-influencers and mega-influencers dictate prices more freely. It is one of the key challenges for brands to afford macro-influencers. Due to the high cost associated with macro-influencers and mega-influencers brands are opting for micro-influencers. Micro-Influencer segment is expected to witness high demand during the forecast period.

Offering Market Insights
With increasing proliferation of social media networks in customers' lives and rising number of influencers, businesses worldwide are focusing on creating effective influencer marketing strategies. The social media influencers play an important role in the influencer marketing ecosystem as they have the potential to influence purchase decisions of customers (followers). Another important factor behind fast growing influencer marketing trend is growing share of teenage customers which are difficult to tap with traditional marketing tools. 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 effective influencer marketing platforms is increasing among brands and agencies to find relevant influencers that match their exact requirements.

Influencer Marketing Platform Market - Company Profiles
• AspireIQ, Inc.
• InfluencerDB
• IZEA Worldwide, Inc.
• JuliusWorks, Inc.
• Kolsquare
• Launchmetrics
• Lefty
• Mavrck
• NeoReach
• Traackr, Inc.

Key Elements that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the "Influencer Marketing Platform market" market.
• Key market trends cracking up the growth of the "Influencer Marketing Platform market" market.
• Challenges to market growth.
• Key vendors of "Influencer Marketing Platform market" market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global "Influencer Marketing Platform "market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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