Global Influencer Marketing Platform Market Report and Forecast 2024-2032

Global Influencer Marketing Platform Market Outlook

The global influencer marketing platform market size is projected to grow at a CAGR of 15.04% between 2024 and 2032.

Key Takeaways:

• As per the World Bank, Canada's internet users reached 93% in 2021, contributing to the growing demand for the global influencer marketing platform market.

• Indian youth, empowered by tech access, drive the global influencer marketing platform growth as per the 2022 PIB report. The number of broadband users increased from 60M to 810M while the smartphones users grew from 150M to 750M in the last 8 years.

• Instagram, Meta (Facebook), Pinterest, and YouTube are key marketing hubs. Their evolving branding methods are set to elevate the industry.

Popular social media platforms such as Instagram, Meta (Facebook), Pinterest, and YouTube have become major hubs for marketing efforts. These evolving methods of branding and promotion are forecast to improve the global influencer marketing platform market outlook.

The growing use of the internet for advertising has greatly changed how many companies operate, offering marketers fresh ways to connect with their desired audiences. This shift has led to personalized advertising, improving the overall customer experience. The World Bank reports a rise in internet users globally, leading to a growth of the market.

Key Trends and Developments

The global influencer marketing platform market is driven by the increasing penetration of the internet, the rise of data-driven marketing, the rapid growth of online shopping, and the widespread use of social media are all contributing to the expansion of the market 

October 2023

Shiprocket introduced Shiprocket Amplify in collaboration with One Impression, revolutionizing eCommerce by empowering businesses of all sizes to market products on social media, levelling the playing field for scaling opportunities.

October 2023

Heyo Club unveiled a fresh influencer marketing platform boasting 5,000 members and comprehensive user profiling, backed by a 50,000 Euro investment.

September 2023

Kofluence, the leading AI-driven influencer platform, debuts Kofinity, ensuring brand collaborations for all creators and a chance to monetize their social influence.

August 2023

Asia's AI-driven creator tech firm, Animeta, unveiled 'Animeta Brandstar,' a groundbreaking influencer marketing platform enabling brands to find and run campaigns with precise creators using advanced data.

Growing internet penetration

As per the global influencer marketing platform market report, in response to the rising number of global internet users, businesses now depend on digital marketing to effectively reach their target audiences. This change underscores the importance of platforms such as social media, search engines, email, and websites in engaging users and advertising products.

Data-driven marketing

The vast data generated daily in the digital sphere, stemming from user interactions and behaviour patterns, has transformed marketing. Businesses now use data-driven methods to gain insights into customer demographics, interests, purchasing behaviour, and engagement metrics. This enables tailored campaigns, optimizing ad spend, maximizing ROI, and refining strategies based on real-time performance.

Swift online shopping

The surge of e-commerce platforms has revolutionized how consumers shop, preferring online convenience, vast product selections, and competitive pricing. Through focused digital marketing, companies display products, offer tailored recommendations, and enhance the shopping experience. This trend has led to heightened global influencer marketing platform market development in online advertising, social media strategies, influencer collaborations, and other digital marketing methods.

Social media use

The usage of smartphones, tablets, and laptops has surged. The progression of technologies like 3G, 4G, and 5G is set to boost influencer marketing. The transformation of social media platforms like Facebook, Twitter, and YouTube has reduced television viewership recently. Additionally, the rising popularity of OTT platforms such as Netflix, Amazon Prime, and Disney Hotstar has further contributed.

Global Influencer Marketing Platform Market Trends

The global influencer marketing platform market growth is primarily fuelled by the rising demand for content-based and interactive live video sessions, the expanding base of social media subscribers, the growing number of smartphone users, and the increasing availability of high-speed internet. Moreover, the decline in data streaming costs and the rising use of ad-blocking software are also driving this growth.

Compared to direct marketing, influencer marketing demands less time, money, and personal effort. Brands seek efficient influencers to save time, which elevates the demand for influencer marketing platforms. Additionally, the increasing incorporation of advanced technologies such as AI, big data, data analytics, and machine learning is opening new opportunities for providers of influencer marketing platforms.

Market Segmentation

Global Influencer Marketing Platform Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Solutions

• Services

Market Breakup by Type

• Consulting

• Deployment and Integration

• Support and Maintenance

Market Breakup by Application

• Search and Discovery

• Campaign Management

• Influencer Relationship Management

• Analytics and Reporting

• Compliance Management and Fraud Detection

• Others

Market Breakup by Organization Size

• Small and Medium-Sized Enterprises

• Large Enterprises

Market Breakup by End Use

• Fashion and Lifestyle

• Agencies and Public Relations

• Banking and Financial

• Retail and Consumer Goods

• Health and Wellness

• Ad-Tech

• Travel and Tourism

• Others

Market Breakup by Region       

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Services contribute to the global influencer marketing platform market growth by allowing businesses to partner with individuals who have a significant following, thereby enhancing brand visibility.

An influencer marketing agency's services establish connections between brands and social media influencers to create, oversee, distribute, and refine influencer marketing initiatives.

The primary goal of each influencer marketing campaign is to convey the brand's products and services to the audience effectively. The critical decision point for many marketers is selecting the target audience.

Analytics and reporting drive the growth of the global influencer marketing platform market by providing essential data-driven insights. These insights are vital for guiding the decision-making process of businesses.

Through the analysis of user behaviour and performance metrics, businesses can pinpoint their strengths, weaknesses, and areas in need of enhancement.

Influencer relationship management encompasses strategies that foster positive connections with social media creators, ultimately boosting product or service sales. This involves understanding an influencer's personality traits, long-term business objectives, preferred communication methods, and other relevant details.

Based on end use, the global influencer marketing platform market share is led by fashion and lifestyle primarily due to the increasing influence of social media on shaping consumer behaviour.

Influencer marketing goes beyond product sales; it provides insights into the preferences of the target audience. Through influencer campaigns, brands can gauge audience sentiment.

Agencies utilise digital marketing strategies to launch public awareness campaigns, utilising social media, email newsletters, and digital content distribution to share crucial information, increase citizen engagement, and advocate for initiatives.

As per the global influencer marketing platform market report, the healthcare industry utilises digital marketing to engage with patients through content marketing, social media interactions, and search engine advertising. This approach offers valuable health insights, promotes medical services, and fosters stronger patient-doctor relationships.

Competitive Landscape

The key players in the global influencer marketing platform industry are engaging in cut-throat competition and focusing on improving their market position by providing solutions that allow brands to collaborate and interact with a wide range of well-known social influencers and content creators.

ZEA Worldwide Inc. founded in 2006, is a marketing technology company providing software solutions and professional services. Their offerings enable brands to collaborate and engage in transactions with a broad spectrum of prominent social influencers and content creators.

Upfluence was established in 2013. The company provides an influencer database that enables users to discover contacts based on various criteria such as social-community size, engagement rate, and location. The solution then creates a curated list of contacts from the influencer database.

Traackr, Inc. founded in 2008, provides services in influencer discovery, campaign management, influencer collaboration, and reporting. They offer access to the most extensive global influencer dataset, exclusive market benchmarking, and a team of experts to aid in making well-informed investment choices.

Launchmetrics (Lectra) founded in 2006, places a high priority on exceptional client experiences by nurturing valuable partner relationships that underscore Launchmetrics' dedication to delivering efficient, impactful, and measurable brand experiences.

Other key players in the global influencer marketing platform market are Klear.com Ltd, Woomio Aps, JuliusWorks LLC, Influencity, HypeAuditor, and Grin Technologies, Inc among others.

Global Influencer Marketing Platform Market Analysis by Region

North America led the global influencer marketing platform market share with its strong tech infrastructure, broad internet reach, and booming digital economy. The region's tech-savvy populace and businesses heavily use digital platforms for communication, entertainment, and commerce amidst fierce competition.

Asia-Pacific is anticipated to experience the most rapid growth in the global influencer marketing platform market due to the rising embrace of cutting-edge technologies and the expanding user base of social media, particularly in China, India, and Japan.

As per the 2022 PIB report, Indian youth are gaining empowerment through greater technological access, which is fuelling the global influencer marketing platform market growth. India is experiencing a revolution in mobile and data usage, with broadband connections soaring from 60 million to 810 million and smartphone users increasing from 150 million to 750 million in the past 8 years.

Key Highlights of the Report