Influencer Marketing Platform Market Valued at USD 14.18 Billion in 2024, Expected to Grow CAGR of 38.1% During 2024-30

Global Influencer Marketing Platform Market, valued at around USD 14.18 billion in 2024

NEW HAVEN, CONNECTICUT, USA, July 22, 2024 /EINPresswire.com/ -- A digital solution framed to foster partnerships between brands and influencers is regarded as an influencer marketing platform. On this platform, a marketplace is offered where brands can identify, engage, and oversee relationships with suitable influencers for their marketing endeavors.

Market Insights & Analysis

The Global Influencer Marketing Platform Market¹, valued at around USD 14.18 billion in 2024, is expected to grow at a CAGR of around 38.1% during the forecast period of 2024-30. By harnessing the influential power and credibility of key personalities, brands can forge genuine connections within specific demographics. This marketing platform is booming across the global market in every sector for marketing their products or services, as it is observed to be a more effective method than traditional marketing, yielding heightened interaction and conversion rates.

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Market Opportunity

Rising Shift Towards OTT Platforms to Present Lucrative Opportunities – The mushrooming consumer shift towards Over-the-Top (OTT) platforms uncovers profitable market opportunities for influencer marketing platforms. As more individuals embrace digital streaming services and dedicate increased time to social media, a vast & highly engaged audience emerges, primed for targeted marketing efforts. Influencer marketing platforms serve as a channel between brands & influencers, thus digitally gaining audience & marketing products & services. Moreover, by leveraging this platform, brands can effectively connect with diverse and attentive audiences spending time on OTT platforms, thereby amplifying brand visibility & engagement, and eventually fostering business or brand expansion in the digital empire. This, in turn, aids in opening new opportunistic avenues for the Influencer Marketing Platform Market during 2024-30.

Regional Projections

Geographically, the Global Influencer Marketing Platform Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is destined to maintain its strong foothold across the Influencer Marketing Platform Market, driven by several factors. The region has witnessed remarkable growth in its influencer marketing landscape, primarily driven by the integration of AI technologies, which have reformed industry dynamics by facilitating precise audience targeting, content optimization, and campaign performance analysis.

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Recent Developments by the Leading Companies

• 2023: Triller completely acquired Julius, a prominent influencer marketing solution, as part of its strategy to bolster its creator platform. This acquisition aims to provide customers with comprehensive insights and an improved return on investment (ROI), in line with Triller's commitment to prioritize creators and their needs.

• 2023: Meltwater revealed its acquisition of Klear, a prominent company in social influencer marketing. This acquisition enhances Meltwater's current suite of social listening and analytics services, culminating in a distinctive integrated product encompassing social listening, analytics, social management, and influencer marketing capabilities.

Key Companies Operating in the Global Influencer Marketing Platform Market:

• IZEA
• Launchmetrics
• Triller
• Impact.Com
• Meltwater
• Traackr
• Aspire.Io
• Creatoriq
• Later
• Grin
• Sprout Social
• Captiv8
• LTK
• Brandwatch
• Bazaarvoice

Influencer Marketing Platform Market Segmentation

• By Offering (Software (Software, By Type, (Web-based, Mobile-based), Software, By Deployment Mode, (Cloud, On-premises), Services, (Professional Services, (Consulting, Deployment & Integration, Support & Maintenance), (Managed Services))

• By Application (Search & Discovery, Campaign Management, Analytics & Reporting, Content Creation, Influencer Relationship Management, Compliance Management, Payment Processing, Product Seeding, Social Listening, Others)

• By Marketing Type (Thought Leadership & Industry Expertise, Content Marketing & Distribution, Event Promotion & Attendance, Product Launches & Announcements, Lead Generation & Sales Enablement, Employee Advocacy & Brand Endorsement, Others)

• By End-Use Industry (Retail & E-Commerce, (Fashion & Lifestyle, Health Wellness, Sports & Fitness, Food & Beverages, Others), Travel & Hospitality, Media & Entertainment, (Gaming, Advertising & Marketing Agencies and PR, Others), BFSI, Automotive & Transportation, Education, Healthcare & Life Sciences, Others))

Based on Marketing Type: The Lead Generation & Sales Establishment is predicted to account for the largest share of the Influencer Marketing Platform Market during 2024-30. The proliferation of influencer marketing platforms has notably contributed to this surge by offering tailored solutions for lead generation & sales enablement needs.

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