(MENAFN- PR Newswire) FELTON, Calif., Oct. 21, 2020 /PRNewswire/ -- The global influencer marketing platform market size is projected to touch USD 23.52 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 26.8% over the estimated duration. The advent of latest technologies such as AI, ML, IoT, and NLP offer better analytics and results, thereby, guiding, marketers in undertaking effective decisions.
Growing penetration of AI-driven influencer marketing platforms is projected to develop an automated environment for making efficient partnerships. Technologies such as Natural Language Processing (NLP) and Artificial Neural Networks (ANN) can be used to offer suitable insights to influencers by examining various posts, image attributes, and assisting brands in streamlining workflow processes. Moreover, preference for these technologies helps marketers in selecting the right influencer, thus, expected to aid in the market growth in the upcoming years. For example, Caution Engine provided by IZEA uses machine learning to process voluminous information for analysis on influencers platform in the company database to enhance network and recognize influencers who follow brand safety measures.
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Cord-cutting is also projected to propel the influencer marketing platform market from 2019 to 2025. The lowering popularity of TV viewership and rising screen time offer marketers to leverage social media marketing. Moreover, marketers are spending extensively on various social media to satisfy the growing online masses.
The sports & fitness division is predicted to offer new avenues to the influencers over the forecast years. Factors such as brand loyalty, growing merchandise, the trend of a healthy lifestyle, and rising ticket sales are projected to fuel the market growth in the upcoming years. Moreover, cost-effective equipment and product innovation have created sports more accessible to customers. The fusion of fashion & beauty into sports & fitness is encouraging companies to enter into new business lines such as the production of athleisure, thereby, bolster the market growth over the estimated duration.
The growth of hybrid influencer is projected to accelerate the growth of the market from 2019 to 2025. Hybrid influencer allows brands to use social media advertisements to spend on various influencer posts through brand content or social media to gain greater insights. For example, Scrunch, an advertising firm, enabled marketing teams to grow business with the help of hybrid influencers.
Further key findings from the report suggest:
- Influencer management is predicted to grow rapidly from 2019 to 2025 due to the increasing demand for brands to sustain an efficient relationships with influencers for longer partnerships.
- SMEs are anticipated to benefit from penetration of influencer marketing due to higher engagement and cost-effectiveness.
- The sports & fitness division is projected to foresee considerable growth in the upcoming years, owing to increasing awareness relating to the benefits of living a healthy lifestyle.
- Asia Pacific is anticipated to lead the market over the forecast years, due to the growing preference for mobile, which makes it simpler for marketers to reach large audiences through social media.
- The leading players of the influencer marketing platform market are Hypetap Pty Ltd.; Speakr Inc.; AspireIQ Inc.; Upfluence, and Grapevine Logic Inc.
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Million Insights has segmented the global influencer marketing platform market on the basis of application, organization size, end use, and region:
- Influencer Marketing Platform Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Campaign Management
- Search & Discovery
- Analytics & Reporting
- Influencer Management
- Influencer Marketing Platform Organization Size Outlook (Revenue, USD Billion, 2015 - 2025)
- Influencer Marketing Platform End-use Outlook (Revenue, USD Billion, 2015 - 2025)
- Food & Entertainment
- Sports & Fitness
- Travel & Holiday
- Fashion & Lifestyle
- Others
- Influencer Marketing Platform Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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