- January 2021 |
- Information and Communication Technology (ICT) / Other
Global Influencer Marketing Platform Market, By Component(Solution and Services);By Application (Search and Discovery, Analytics and Reporting, Influencer Relationship Management and Others); By Region(North America, Europe, Asia Pacific, and Rest of the World); Trend Analysis, Competitive Market Share & Forecast, 2020-2027.
Global Influencer marketing platform Market size- Industry Trends & Forecast Report 2027.
The global Influencer Marketing platform market is estimated to have reached USD 5.6 billion in 2020 and is further projected to reach USD 34.6 billion by 2027, growing at a CAGR of 29.3% during 2021-2027 (forecast period). The Influencer marketing platformmarket is likely to grow in the forecast timeframe due to the factors such as the customers’ shift toward video-based content across the OTT space along with an increase in the adoption of ad-blocking software are expected to drive the adoption of the influencer marketing platform market.Source: BlueWeave Consulting
Global Influencer marketing platform Market Overview:
An Influencer Marketing Platform is characterized as a software solution that is particularly designed to assist brands with their influencer marketing campaigns. Influencer Marketing Platforms provide influencer discovery tools for brands and agencies, some also offer massive searchable databases of potential influencers, using clever algorithms. Though any platform that people use to share content can be used for influencer marketing, however, these four are among the largest. By reaching out to audiences through trusted influencers on Facebook, Twitter, YouTube, and Instagram, a business can rapidly generate brand awareness and increase sales.
Influencer marketing platform Market Forecast and Trends
Customers’ shift toward video-based content across the OTT spaceThe rising use of smartphones and 3G and 4G networks and video consumption has grown tremendously in the last decade. Hence, organizations are designing marketing strategies for video-based content streaming across digital channels. Also, in past years the television viewership has rapidly decreased and shifted toward social media channels, such as Facebook, YouTube, and Instagram. YouTube is known as the second-most used search engine across the world. Moreover, as the television viewership reduced by 50% among the age group of 18–26 in 2017, video-based marketing increased from 63% in 2017 to 81% in 2018, according to Wyzowl‘s statistics. Hence, an influencer marketing technique that enables to target potential buyers is driving the market.
Rise of influencers on Social MediaThe growing number of influencers on social media is another driving factor for the market. Like on Instagram, scrolling through the feed and finding an influencer posting about anything — a handbag, a pair of shoes, a new moisturizer, or a nice meal at that restaurant down the block becomes normal. Influencers and sponsored posts are everywhere you look on social media, and most reports estimate brands are...