The global influencer marketing platform market at US$ 137.1 Mn in 2018 and is expected to grow at a CAGR of 12.3% during the forecast period 2019 - 2027, to account to US$ 373.5 Mn in 2027. The major driving factors contributing to this influencer marketing platform market growth includes the increasing demand for video content & live interactive sessions, surge in adoption of smartphones, increasing penetration of high speed internet, growing number of social media accounts, reducing data streaming cost, integration of advanced technologies such as artificial intelligence (AI), among others.
The influencer marketing platform market is segmented on the basis of offerings, application, organization size, and end-user. Based on offerings, the influencer marketing platform market is segmented as a solution and service. The solution segment is expected to hold a major influencer marketing platform market share during the forecast period due to the factor such as increasing capabilities of influencer marketing platform due to the integration of advanced technologies. Based on application, the influencer marketing platform market is segmented as search & discovery, campaign management, influencer relationship management, analytics & reporting, and others. Campaign management is expected to witness high CAGR during the forecast period. Campaign Management is one of the important solutions that is being offered by influencer marketing platforms to brands. This solution offers built-in features to store campaign records and it also allows brands to assess their campaign performance in order to ensure if the campaign increased their brand value or visibility among target audience. Any brand begins a campaign on influencer marketing platforms with a specific set of objectives, timeline and budget. These platforms then notify the influencers about new available campaigns for which they can apply. Brands can also choose influencers for their respective campaigns based on their needs regarding engagement level, reputation, and interests. Once brands find the influencers, payment rates are negotiated and engagement terms are set. The influencers then create content for the campaign and this content will be published after it meets the guidelines set by the brands.
Some of the key influencer marketing platform market players who offer campaign management as a function include Upfluence, NeoReach, AspireIQ, Julius, Open Influence, and Tapinfluence among others. For instance, Julius offers campaign management platform for various kinds of influencers. NeoReach is another platform that uses artificial intelligence (AI) to find the most suitable influencers for brand campaigns. Some of the features offered by these platforms related to campaign management include campaign creation, campaign lifecycle management, content collaboration, and campaign analytics among others.
The overall influencer marketing platform market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the influencer marketing platform market. It also provides the overview and forecast for the global influencer marketing platform market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the influencer marketing platform industry. Some of the players present in the influencer marketing platform market are HYPR (Mogimo Inc.), InfluencerDB (InfluencerDB Tech GmbH & Co. KG), IZEA Worldwide Inc., JuliusWorks Inc., Launchmetrics (Fashion Gps, Inc.), Lefty (Modern Agency SAS), Mavrck (Apifia Inc.), NeoReach, Traackr, Inc., Upfluence among others.