The global Influencer Marketing Market Size witnesses rapid revenue growth. The rising demand for Influencer Marketing from increasing numbers of enterprises worldwide escalates the market sales. Besides, vast befits that influencer marketing platform offers, propel the growth of the market. Social media has transformed marketing and promotional approaches for businesses.
Easier access to advanced technologies and vast adoption of influencer marketing by start-ups, SMEs, and top-notch companies to drive growth, create substantial market opportunities. Rising users of smartphones and social media due to increasingly improving internet connectivity foster the market size, enabling creating innovative content without any investments.
With technical upgrades and the launch of various social media apps, the market is projected to witness rising sales in the years to come. In this regard, Market Research Future (MRFR) asserts that the global Influencer Marketing Market Size is poised to garner significant accruals by 2027, growing at an impressive CAGR during the review period (2020-2027).
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Influencer Marketing Market Size - Segments
The report is segmented into components, organization size, end-users, and regions. The component segment is sub-segmented into solution/platform and services. Among these, the solution/platform segment grows at a higher CAGR, witnessing vast deployments by major brands to manage and organize influencer marketing internally.
The services segment is further divided into professional services that cover integration and consulting and managed services that comprise third-party providers offering a range of influencer marketing services.
The organization size segment is sub-segmented into small- and medium-sized enterprises (SMEs) and large enterprises. Among these, the SME segment accounts for the largest market share due to the growing needs of brands to effectively compete in their respective industries.
The vertical segment is sub-segmented into fashion, luxury cosmetics, retail e-commerce, consumer goods, advertising public relations, food beverages, travel tourism, automobile, and others. Of these, the retail e-commerce segment grows at the highest CAGR.
Influencer Marketing Market Size - Regional Analysis
North America dominates the global Influencer Marketing Market Size due to many active users of social media and connected devices. Moreover, the presence of a number of influencer marketing companies offering comprehensive testing solutions to the enterprises drives the market growth. Besides, substantial investments by large and small organizations in influencer marketing platforms to enhance their business boost the market size.
Europe stands second in the global Influencer Marketing Market Size. The presence of various notable technology providers and large deployments of influencer marketing platforms define the growing market landscape. Additionally, the growing numbers of medium and large enterprises with sizable investments act as significant tailwinds for the market growth in the region.
Asia Pacific Influencer Marketing Market Size is growing rapidly. Factors bolstering the market growth include the increasing adoption of social media platforms for marketing and large developments in AI technology to enhance operational performance boost the regional market growth. Furthermore, the growing population in various developing countries, increasing numbers of active social media users and increasing smartphone ownership due to improving internet connectivity substantiate the region’s Influencer Marketing Market Size share.
Influencer Marketing Market Size - Competitive Analysis
Highly competitive, the Influencer Marketing Market Size appears fragmented due to the presence of several well-established players. Mergers acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in RD to develop adept technologies and products.
Players leading the Influencer Marketing Market Size include ScrunchSocial Beat Digital Marketing LLP, Buzzoole, ONALYTICA, Launchmetrics, HYPR, IZEA, Traackr, JuliusWorks, Inc., Klear, AspireIQ, Upfluence, Mavrck, and Lumanu Inc., among others.
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