Influencer Marketing Market - Business Growth, Share, Sales Revenue and Regional
Posted by savnipandit on November 9th, 2019
The global influencer marketing market is estimated to reach USD 2.85 billion by 2025, at a CAGR 8.2% during the forecast period (2019–2025).
The prominent players operating in the Influencer Marketing market are Buzzoole, ScrunchSocial Beat Digital Marketing LLP, ONALYTICA, HYPR, Launchmetrics, Traackr, IZEA, JuliusWorks, Inc., Upfluence, Mavrck, Klear, AspireIQ, and Lumanu Inc.
Global influencer marketing solutions comprise solution/platform and services. Solutions/platforms help brands to collaborate and manage their influencer marketing campaigns effectively. These platforms also offer actionable insights regarding the performance of influencer marketing campaigns run by brands on various social media platforms. Services are largely of two types, professional and managed services. Professional services are offered by the solution/platform providers while deploying the software onsite. Professional services include integration services, consulting services, and maintenance services. Managed services are the services offered by independent third-party providers who manage end to end influencer marketing campaigns for a brand.
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The influencer marketing market is driven by the growing awareness regarding social media websites. Globally, the number of active social media users has significantly increased. Also, these users often actively follow various social media influencers, due to which, brands are turning towards influencer marketing wherein they are promoting their products by collaborating with various social media influencers. This, in turn, is driving the influencer marketing market, worldwide.
The global influencer marketing market has been segmented based on component, organization size, end-user, and region.
Based on component, the influencer marketing market has been segmented into solution/platform, and services platform/ solution is expected to register the higher CAGR during the forecast period in the overall market.
Based on organization size, the influencer marketing market has been divided into small- & medium-sized enterprises and large enterprises. The large enterprises segment accounted for the larger market share in 2018. However, the SMEs segment is expected to register the higher CAGR during the forecast period (2019–2025).
Based on vertical, the influencer marketing market has been segmented into fashion, luxury & cosmetics, retail & e-commerce, consumer goods, advertising & public relations, food & beverages, travel & tourism, automobile, and others. The retail and e-commerce industries are expected to register the highest CAGR during the forecast period.
The geographic analysis of the influencer marketing market has been conducted for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
North America is expected to be the largest market for influencer marketing during the forecast period. North America has been segmented into three countries, namely the US, Canada, and Mexico
The US is a leading country in North America, holding the largest market share and is expected to register substantial growth during the forecast period. The influencer marketing market in the country is growing due to significant adoption of influencer marketing strategies by various established brands for advertising and promotion.
The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. India is expected to register the highest CAGR during the forecast period due to growth in the number of e-commerce firms and the growing number of social media users in the region.
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