Influencer Marketing Market Size, Share, Trends, Industry Players, Revenue Forecast, Future Demand, Growth Prospects and Impact of COVID

Market Overview

The global influencer marketing market size will reach USD 7.68 billion in 2020. It will likely increase at a  compound annual growth rate (CAGR) of 30.3% from 2021 to 2028. Influencer marketing has transitioned from a mere buzzword to mainstream branding strategies. It is an amalgamation of contemporary content-driven marketing campaigns and traditional celebrity endorsement. Over the last few years, brands have started looking beyond traditional celebrities and have collaborated with online stars/influencers to endorse their products. This is because of the direct consequence of the increasing number of followers of these influencers on social media and their ability to impact the purchasing behavior of their followers/fans.

Influencers have held a major chunk of popularity especially since the arrival of the pandemic in 2020. People were at their homes due to the imposition of the temporary and permanent lockdown by the global governments. They were hailed as trendsetters and people follow them owing to a series of reasons. All these factors help in the expansion of the market during the ongoing forecast period.

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Market Segmentation

The influencer marketing market has been divided into application, organization size, and end-user.

Based on the application

The market has been divided based on the application into Campaign Management, Search & Discovery, Analytics & Reporting, Influencer Management, and many others.

Based on the Organization size

The market has been divided into SMEs, large enterprises, and many others based on the organization size.

Based on the End-User

The market has been divided based on the end-user industry Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle, and many others.

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Regional Analysis

The influencer marketing market has been divided based on the region into North American region, Asia-pacific region, European region, Latin American region, and the Middle East and African region.

The global influencer marketing platform market the largest market share across the regions is held by the North American area. In contrast, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of advanced technologies across China, Japan, and India. The rising number of daily active users of social media is expected to boost the adoption of influencer marketing platforms in the Asia-Pacific region. The growing implementation of ad-blocking solutions by users across Europe and APAC further drives the market’s growth.

Industry News

• In November 2020, a Chinese influencer analytics platform named Parklu, has been acquired by Launchmetrics. This acquisition will help the company to develop a foothold in China as it cements its dominance in the global luxury market.
• In October 2020, the Klaviyo marketing platform, a software was integrated with Upfluence. It helps the eCommerce marketing processes by improving targeting and insights.
• In March 2020, BrandGraph was launched by IZEA Worldwide. For social media marketers, the social intelligence platform is BrandGraph. The engine currently processes over 4.5 million influencers globally.
• In September 2019, Rising Keywords, a new feature for its Muse platform, was announced by a Quotient brand, Ahalogy. The quality will help predict future trends on social media.

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