Dublin, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The "Global Influencer Marketing Platform Industry Report 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global influencer marketing platform market is projected to grow from USD 6 billion in 2020 to USD 24.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 32% during the forecast period.
Various factors such as the customers' shift toward video-based content across the OTT space and an increase in the adoption of ad-blocking software are expected to drive the adoption of the influencer marketing platform market. The objective of the report is to define, describe, and forecast the influencer marketing platform market size based on component, organization size, application, end-user, and region.
COVID-19 has shocked the entire world
Many businesses are fighting to survive and are using different marketing strategies to recover the loss. This has posed a good opportunity for brands and influencers to engage with their audiences with impactful messaging. The importance of influencer marketing as a core marketing strategy has grown during the COVID-19 crisis.
Through the personal views and support of followers, influencers will continue to shape the conversations occurring in the post-lockdown world. The effects of COVID-19 will be long-term, and as a result, marketing strategies must be revised to suit the new environment in which smaller and larger companies are surviving currently.
Areas of discretionary spending and especially those heavily affected by COVID-19, such as the adoption of travel-related products, have decreased notably. This includes luggage, cameras, clothing, and footwear. With this in mind, influencers that have had stopped or decreased their campaigns in these areas may benefit from looking for opportunities in packaged foods or self-improvement at-home products, such as weight training and exercise at home-related products.
Considering the scenario of COVID-19, brands are now shifting their focus to be more sensitive to the present situation by leveraging digital influencers to spread the message of safety and health.
The services segment is estimated to grow at a higher CAGR during the forecast period
The influencer marketing platform market is segmented on the basis of components, such as solution and services. The services segment is expected to grow at a rapid pace during the forecast period as the demand for services, such as support and maintenance, deployment and integration, and consulting, is rising with the tailor-made features for influencer marketing platform solution during the COVID-19 outbreak.
The fashion & lifestyle end-user segment is projected to account for the largest market size during the forecast period
The Influencer marketing platform market by end user has been segmented into fashion and lifestyle, agencies and PR, retail and consumer goods, health and wellness, ad-tech, banking and finance, travel and tourism and other end users (gaming and pet care). The fashion and lifestyle end user is estimated to account for the largest market size as influencer marketing serves as the most successful strategy for fashion and lifestyle brands.
Fashion influencers have now become an integral part of social media marketing channels. They largely dominate the digital space as consumers turn to social media and social media influencers for gaining information about new products or new brands. Hence, influencer marketing plays an important role in the fashion and lifestyle end user.
The large enterprises segment is anticipated to account for the largest market size during the forecast period
The influencer marketing platform market by organization size has been segmented into large enterprises and SMEs. Large enterprise is expected to register the largest market size during the forecast period. The rise of paid ad costs on social media platforms, such as YouTube and Instagram, will enable enterprises to find a way to survive for future growth.
Among regions, North America is expected to account for the largest market size during the forecast period
North America is expected to have at the largest market size during the forecast period. The continuous adoption of influencer marketing platform solution and services across all the major end users is expected to drive the market growth in North America. The governments in North America are focusing and investing substantially in AI and ML technologies, while they are also reaping the benefits of influencer marketing platforms in the US and Canada.
Customers' Shift Toward Video-Based Content Across the OTT Space
Increase in Adoption of Ad-Blocking Software
Lack of Capabilities to Measure Campaign Effectiveness
Influencer Marketing Platform to Gain Customer Trust and Create New Brand Image
Influencer Marketing to Increase Demand for Big Data Analytics, AI, and ML
Increase in the Number of Fake Followers
Cumulative Growth Analysis
Evolution of Influencer Marketing Platform
Case Study Analysis
Use Case 1: Michelin Used Traackr to Launch Brand Awareness Campaign with Influencers During COVID-19
Use Case 2: Klear Helped Nuun to Save Six Hours of Weekly Influencer Management Work
Use Case 3: Lovesac Used Aspireiq's Connect Tool to Build Organic Influencer Relationships
Use Case 4: Walmart Used Linqia Influencer Marketing Platform to Expand Its Subscription Base
Use Case 5: Oneplus Used Brandwatch to Add Context to Their Brand Tracking
Use Case 6: Abu Dhabi's Department of Culture and Tourism Partnered with Hootsuite and Brandwatch to Boost Its Tourism Using
Artificial Intelligence/Machine Learning and Influencer Marketing Platform
5G and Influencer Marketing Platform
Natural Language Processing and Influencer Marketing Platform
Blockchain and Influencer Marketing Platform
Patents Filed: Influencer Marketing Platform, by End-user, 2019-2020
Federal Trade Commission
General Data Protection Regulation
Governance, Risk, and Compliance Standards
Health Information Technology for Economic and Clinical Health
Health Insurance Portability and Accountability Act
For more information about this report visit https://www.researchandmarkets.com/r/va2xid
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