CHICAGO, March 22, 2024 (Globe Newswire) — global influencer marketing platform market Its size is estimated to increase from USD 10.6 billion in 2023 to USD 14.2 billion in 2024, with a CAGR of 37.1% from 2024 to 2028, according to a new report from MarketsandMarkets™. It is predicted to reach USD 50.3 billion. Influencer marketing platforms serve as a central hub for brands, facilitating the global exploration of influencers for collaboration, recruitment, and payments, while also allowing influencers to explore brand partnerships. It serves as a valuable asset for brands overseeing multiple influencers on a single project, automating tasks from measuring results to monitoring campaigns. Ultimately, these platforms streamline operations and save brands a lot of time and effort.
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Influencer marketing platform market trends:
driver:
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Growth status of social media platforms.
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Increased adoption of AI-powered solutions
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Growth of micro-influencers
Restraint:
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Complexity of RoI measurement.
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Fake followers and engagement issues
opportunity:
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It has become essential to leverage influencer marketing platforms to achieve deeper connections with consumers.
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Growing shift towards OTT platforms and social media channels
List of major companies in the Influencer Marketing Platform market:
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Isa Worldwide (USA)
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Launch Metrics (US)
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Triller (USA)
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Truck (USA)
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Upfluence (USA)
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Meltwater (USA)
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Aspire.io (USA)
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Creator IQ (USA)
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Later (USA)
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Impact.com (USA)
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There are many influencer marketing platforms, each offering unique features for engagement, leaving room for growth and improvement within the industry. As brands continue to harness the power of influencer marketing, the evolution and enhancement of these platforms continues to be critical to maximizing campaign effectiveness and his ROI.
Based on the offering, the market is further segmented into software and services. The Software segment is further divided into Software and Services. Software segments are further categorized into types and deployment modes. Furthermore, the type segment is divided into web-based and mobile-based. Based on deployment mode, software is categorized into cloud and on-premises. The services segment is further divided into managed services and professional services. In addition, professional services are divided into consulting, integration and implementation, and support and maintenance.
Based on applications, the market is further segmented into search and discovery, campaign management, analytics and reporting, content creation, influencer relationship management, compliance management, payment processing, product seeding, social listening, and other applications (marketing outreach, Fraud management, affiliate links, performance tracking). These applications enable companies to effectively reach and engage target audiences, drive brand awareness and loyalty, and ultimately achieve marketing goals in a dynamic and competitive market environment. Masu.
Based on marketing type, the market is further divided into thought leadership and industry expertise, content marketing and distribution, event promotion and participation, product launches and announcements, lead generation and sales promotion, employee advocacy and branding. endorsements, and other types of marketing (e.g., product reviews and demonstrations, user-generated content campaigns, etc.). These marketing types allow companies to prioritize and effectively allocate resources, tailor messaging and tactics to each segment's unique needs, and maximize the effectiveness of marketing efforts in a competitive market environment. I can.
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Based on end user, the influencer marketing platform market is segmented into Retail & E-commerce (Fashion & Lifestyle, Health & Wellness, Sports & Fitness, Food & Beverage, etc.), Travel & Hospitality, Media & Entertainment (Gaming, Advertising) Divided. and marketing agencies, PR, etc.), BFSI, automotive and transportation, education, healthcare and life sciences, and other end users (government, real estate, telecommunications). Influencer marketing platforms benefit end users by extending a brand's reach, driving sales, increasing engagement, and increasing credibility through authentic endorsements across various industries.
The influencer marketing platform market is segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The influencer marketing platform market is experiencing rapid growth across all regions due to the increasing digitalization of consumer behavior and the increasing demand for authentic brand engagement. Businesses everywhere are leveraging influencer partnerships to effectively reach their target audiences. This growth is driven by the accessibility of social media platforms, advances in technology, and the expansion of the influencer ecosystem. The market continues to rapidly expand, providing opportunities for innovation, collaboration, and strategic partnerships around the world as businesses realize the power of influencer marketing in building brand awareness, driving sales, and fostering customer loyalty. doing.
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