Global Influencer Marketing Market Size By End User (Fashion And Lifestyle, Travel And Tourism), By Application (Campaign Management, Search And Discovery), By Geographic Scope And Forecast

Influencer Marketing Market Size And Forecast

Influencer Marketing Market size was valued at USD 7.40 Billion in 2021 and is projected to reach USD 50.4 Billion by 2030, growing at a CAGR of 31.5% from 2022 to 2030.

Influencer marketing is a type of marketing that relies on well-known individuals to spread a brand’s information to a large audience. The increasing demand for streaming video and live interactive sessions, the surge in adoption of smartphones, the growing usage of high-speed internet, the growing number of social media pages, the reducing cost of data streaming, and the integration of advanced technology such as artificial intelligence (AI), among many other factors, are propelling the development of the Influencer Marketing Market. The Global Influencer Marketing Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Influencer Marketing Market Definition

Influencer marketing is a type of social networking marketing that includes product placements and endorsements for influencers, or people and organizations with a reportedly expert depth of understanding or social influence in their field. Influencer marketing is a type of marketing that depends on leading figures to spread a brand’s message to a larger viewer. Influencer marketing has allowed organizations to reach more people than traditional marketing methods. This marketing platform allows businesses to cooperate with influencers who resonate with their intended audience, leading to stronger connections and higher engagement.

Influencers, rather than traditional types of marketing, have proved to be a reliable source of product details. Many brands already are deeply familiar with social media influencers, but the market is continuously changing and brands keep evolving their techniques to keep up with technology. This encourages authenticity and assists in reaching a specific target audience. They post about that subject on their favored social channels on a routine basis, resulting in large fanbases of enthusiastic, involved people who pay special attention to their personal views.

Global Influencer Marketing Market Overview

The growing need for brands and organizations to develop deeper connections with consumers is propelling the growth of the Influencer Marketing Market. Current innovations, such as virtual influencers, are projected to augment these platforms. A virtual influencer offers cost-effective adaptability and a greater degree of creative freedom, enabling to reach the right customers. Even after the widespread adoption of the platforms, several brand names and firms are having difficulty assessing the platform’s results. Therefore, Growing demands for video content and live interactive sessions, increasing smartphone adoption, increasing penetration of elevated internet, an increasing number of social media accounts, and reducing data streaming costs, as well as integration of innovative technologies such as artificial intelligence (AI), are all supposed to drive the Influencer Marketing Market during the forecast period.

Furthermore, Using promotion practices helps marketers and brands to create more personalized marketing campaigns, thereby enhancing the customer experience and professional relationships leading to the growth of the market. Due to the restrictions imposed in the crisis of the COVID-19 outbreak, there was a dramatic decrease in brand collaboration. Prevention efforts hampered the influencer marketing industry to a certain extent. Travel restrictions had a negative impact on the hospitality sector.

Moreover, food bloggers were possessing problems keeping their social media needs to feed up to date leading to the hindering the Global Influencer Marketing Market. Growing demands for video content and live interactive activities, increasing mobile phone adoption, an increase in high-speed internet, a growing amount of social media accounts, reducing data streaming costs, and also merging of advanced technologies such as artificial intelligence (AI), are all supposed to generate growth opportunities for the Influencer Marketing Market over the forecast period.

Global Influencer Marketing Market Segmentation Analysis

The Global Influencer Marketing Market is Segmented on the basis of End User, Application, And Geography.

Influencer Marketing Market, By End User

• Fashion and Lifestyle• Travel and tourism• Retail and consumer goods• Health and wellness

Based on End User, the market is segmented into Fashion and Lifestyle, Travel and Tourism, Retail and consumer goods, and Health and wellness. Fashion and Lifestyle have the largest growing segment of the Global Influencer Marketing Market. Fashion influencers are now a vital component of social media marketing channels. They largely control the digital space, as consumers rely on social media and social media influencers to learn about new products and brands. As an outcome, influencer marketing is essential for the fashion and lifestyle end user.

Influencer Marketing Market, By Application

• Campaign Management• Search and Discovery• Others

Based on Application, the market is segmented into Campaign Management, Search and Discovery, and Others. Search and Discovery has the growing segment of the Global Influencer Marketing Market because of an increasing need among brands and marketers to cooperate with the best-fit influencer for a particular campaign Companies use influencer search and discovery tools to find the appropriate brand ambassadors by using filters such as audience demographics, information effectiveness, and performance, reducing cost in manual search activities.

Influencer Marketing Market, By Geography

• North America• Europe• Asia-Pacific• Rest of the World

Based on Geography, the Global Influencer Marketing Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. North America is projected to be the largest growing market throughout the forecasted period. North American governments are focusing on and heavily investing in AI and ML technologies, while also getting the benefit of influencer marketing efforts in the US and Canada.

Key Players

The “Global Influencer Marketing Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Onalytica, Upfluence, NeoReach, AspireIQ, Tapinfluence, Open Influence, Doveltale, and Julius.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In June 2020, Julius Works Inc. has completed its acquisition of HYPR Brands. Both companies are sector, 360-degree software solution suppliers that help well-known brands and agencies simplify, rationalize, and scale influencer marketing. Influencer search and revelation, marketing services, and monitoring and reporting suites are among their ground-breaking functionality.

• In June 2020, IZEA Worldwide, Inc. has formed a partnership for influencer marketing software and services with a Fortune 500 financial services client.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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