Global Influencer Marketing Platform Market to Grow at a CAGR of 15.04% During 2024-2032, Aided by the Shifting Inclination of Brands Towards Online Influencers Over Traditional Celebrities

The market growth of influencer marketing platform can be attributed to the changing preferences of brands towards online influencers over traditional celebrities for endorsing their products. As influencer marketing is gaining prominence as an integral component of mainstream branding strategies for organisations, the influencer marketing platform market growth is witnessing a positive outlook.

Influencer marketing represents a fusion of traditional celebrity endorsements with content-driven marketing strategies, leveraging the authenticity and relatability of online influencers to connect with target audiences. This shift underscores the evolving dynamics of marketing and the influential role played by digital content creators in shaping consumer perceptions.

The heightened utilisation of the Internet for advertising has brought about a substantial transformation in business models of various companies, providing marketers with new avenues to reach their target audiences. This shift has enabled marketers to deliver personalised advertisements, thereby enhancing the overall customer experience.

Social media platforms like Instagram, Meta (Facebook), Pinterest, and YouTube have gained immense popularity for marketing purposes. The adoption of these new methods for branding and promotion is anticipated to positively impact the market outlook in the coming years, reflecting the evolving landscape of digital marketing strategies.

Increasing merger and acquisition activities are also positively influencing the market expansion. In December 2023, IZEA Worldwide, Inc. (NASDAQ: IZEA), a leading provider of influencer marketing technology, data, and services for leading global brands and agencies, announced the acquisition of Zuberance, an innovative advocate marketing software platform. Zuberance equips marketers with tools to establish white-label communities comprised of their customers and influencers. The platform engages these communities, empowering them to advocate for the brand, thereby facilitating cost-effective content creation.

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Market Breakup by Component, Application, Organization Size, End Use, and Region:

• The market, on the basis of component, can be divided into solutions and services.

• Based on application, the market can be segmented into search and discovery, campaign management, influencer relationship management, analytics and reporting, and compliance management and fraud detection, among others.

• The market, on the basis of organisation size, can be divided into small and medium-sized enterprises, and large enterprises.

• Based on end use, the market can be classified into fashion and lifestyle, agencies and public relations, banking and financial, retail and consumer goods, health and wellness, ad-tech, and travel and tourism, among others.

• The major regional markets for influencer marketing platform include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Key Findings of the Report:

• Some major factors contributing to the influencer marketing platform market expansion are consumers' shift towards overhead content and the increasing use of ad-blocking software, driving the need for new marketing strategies.

• There is a growing demand for big data analysis, artificial intelligence (AI), and machine learning in influencer marketing. These technologies create numerous opportunities for suppliers, enabling more sophisticated and data-driven approaches to influencer collaboration and campaign management. This convergence of consumer behaviour and technological advancements is reshaping the landscape of influencer marketing.

• The rise of social media has made it possible for companies, through influencers, to expand customer participation. A large number of pages, along with a substantial number of influencers on social media platforms, like Instagram, enable companies to make use of influencer marketing to have a more significant impact.

Key Offerings of the Report:

• The EMR report gives an overview of the global influencer marketing platform market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the components, applications, organisation sizes, end uses, and major regions of influencer marketing platform.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global influencer marketing platform market include IZEA Worldwide Inc, Mogimo, Inc. (Hypr), Traackr, Inc., Launchmetrics, Klear.com Ltd, InfluencerDB, Julius, and Upfluence, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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