Influencer Marketing Market To Expand At A CAGR Of 26.7% Until 2030 To Value USD 91,029.6 Million | MRFR
Research Reports
Sep 15, 2023
Market Research Future Highlights:
The market for influencer marketing was estimated at USD 10,723.7 million in 2021 and is anticipated to increase to USD 91,029.6 million by 2030, at a CAGR of 26.7%.
Influencer marketing is a type of social media promotion that relies on recommendations and mentions of products from celebrities, bloggers, and other figures with substantial social media followers who are seen as authorities in their fields. Because social influencers’ followers have a high level of trust in them, influencer marketing is effective because their recommendations serve as social proof to potential customers for your business.
Influencer Marketing Market Key Players
- Traackr
- IZEA Worldwide
- Upfluence
- Influential Network, Inc.
- JuliusWorks, Inc.
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Influencer marketing is already quite popular and will only get bigger. Every year, new social media channels, types of content, and channels for businesses to reach out to potential clients appear. The finest influencers stay on top of developments so they can give businesses the resources they require for success. Because the social media landscape is constantly changing, influencers must seize the newest trends in influencer marketing as soon as possible in order to build their authority and competence and increase their attraction to businesses. One of the main factors propelling the growth of the influencer marketing industry is the rise of digitally informed customers, rising ad blocking software use, and influencers’ importance to affiliate programmes. The main restraints on the sector, however, include the lack of a comprehensive platform, the rise in false accounts and followers, and the difficulty in assessing how influencer marketing affects a company.
The opportunity to improve brand perceptions, the emergence of nano and micro-influencers, and the emergence of influencer-led social commerce, on the other hand, are anticipated to generate a profitable growth opportunity for the players present in the global influencer marketing market.
Influencer Marketing Segmentation:
Based on component, organisation size, end-user, and geographic region, the influencer marketing market has been divided into sub-sectors.
The worldwide influencer marketing market has been divided into Solution/Platform and Services based on Component.
The influencer marketing industry has been divided into Small and Medium-Sized Enterprises (SME) and Large Enterprises based on Organisation Size.
Consumer goods, retail & e-commerce, consumer goods, advertising & public relations, food & beverages, travel & tourism, automobiles, and others make up the Influencer Marketing market’s end-user segments.
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North America, Europe, Asia-Pacific, the Middle East & Africa, and South America make up the five different geographic categories into which the influencer marketing market has been divided globally. With a market value of USD 4,213.3 Million in 2021, North America held the highest market share; it is anticipated to see a CAGR of 23.8% over the course of the forecast period. With a market size of USD 2,942.6 million in 2020, Europe was the second-largest market, and it is expected to grow at a CAGR of 27.0%. The market for influencer marketing is dominated by North America. The US, Canada, and Mexico make up the remaining three parts of North America.
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