USD 10.39 Billion
Influencer Market Size, Share, Growth Analysis, By Application(Campaign Management, Search & Discovery, Analytics & Reporting, Influencer Management), By End-user(Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45B2007 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
66
|Figures:
75
Influencer Market Insights
Global Influencer Market size was valued at USD 10.39 Billion in 2019 and is poised to grow from USD 13.86 Billion in 2023 to USD 139 Billion by 2031, at a CAGR of 33.4% during the forecast period (2024-2031).
The influencer market has grown exponentially in recent years. The increasing use of the internet and smartphones are one of the reasons for public engagement in these influencer platforms. This is because the brand realized the potential of online platforms and started focusing on personalized ads and displaying relevant ads for a better customer experience. Now various companies are reaching out to influencers for endorsing the products as they are better connected with the audience and the audience could relate more with the influencer and product which make Influencer Marketing an important part of product branding strategy for large companies. These new branding strategies will enhance the growth of Influencer Marketing in the coming years.
US Influencer Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fashion & Lifestyle
Fastest Growth
Fashion & Lifestyle
Growth Rate
33.4% CAGR
Global Influencer Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Influencer Market Segmental Analysis
Influencer Market is segmented based on Application, End-user, and Region. Based on Application, the Influencer Market is segmented into Campaign Management, Search & Discovery, Analytics & reporting, and Influencer Management. Based on End-user, the Influencer Market is segmented into Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle, and others. Based on region, the global Influencer Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Influencer Market Analysis by Application
The Influencer Market is divided into Campaign Management, Search & Discovery, Analytics & reporting, and the Influencer Management segment. The segment that is dominating the influencer market is search & discovery which accounts for 35% of the total revenue in the year 2021. This segment helps the companies to find influencers who are appropriate for endorsing the product using parameters like the demographic of the audience, and the effectiveness of the content produced by the influencer. Such an example would be a mobile phone manufacturer going to a platform like a YouTube influencer to run an advertisement campaign for better sales as people can connect better with the influencer on YouTube.
The need for companies to analyze important factors affecting the campaign promotion, effectiveness, reach, and engagement by the influencer through analytics and reporting segments. This enables the companies to design the content as per requirement. That’s why the analytics and research segment is expected to grow at the fastest CAGR during the forecast period.
Influencer Market Analysis by End-user
In 2021, the fashion and lifestyle industry accounted for 29% of total influencer market revenue. The Influencer Market is based on end-users segmented into Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle, and others. Every influencer has a different fashion sense and this is reflected in their audience too. This enables the large companies to endorse their fashion products through the influencer for better sales lead and it’s been quite successful over the last few years.
Global Influencer Market By End-user, 2021 (%)
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Influencer Market Regional Insights
In 2021, the North American region held the largest market revenue share, which is around 30% of the global influencer market. Increasing collaboration and consumer engagement on social media platforms are one of the major reasons for this dominance. Development in technologies like data analytics, digital marketing, and platform development for influencers is also a reason for the growth of the Influencer Market. Due to the adoption of unique strategies by major fashion companies through influencers which in turn are highly effective and are encouraging the companies to invest more in influencer marketing strategies which will drive the growth in the Influencer Market during the analysis period.
Global Influencer Market By Geography, 2021 - 2028
- Largest
- Fastest
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Influencer Market Dynamics
Influencer Market Driver
- Increasing use of smartphones and penetration of the internet to remote areas has increased the user presence on various online platforms driving the influencer market. Companies start the product promotion by sending free packages to influencers. Influencers then showcase these products to the public they are connected with. With better reach and connection with the public, the influencer can advertise and help in sales of the product to a greater extent this, in turn, propels the growth of the influencer market during the analysis period.
Influencer Market Restraint
- The idea of communicating about the product and service to the audience is the main purpose of influencer marketing. But choosing the specific audience for a campaign goes wrong most of the time that costs much to the company. A target audience for every influencer is specific and they may or may not always like the product as it might be of no use; this is a limitation of the influencer market industry.
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Influencer Market Competitive Landscape
The global Influencer Market is relatively fragmented, with a high level of competition. Few large players, like UPfluence Inc, AspireIQ, and Speakr Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Influencer Market Top Player’s Company Profiles
- Google (US)
- Facebook (US)
- Instagram (US)
- YouTube (US)
- TikTok (China)
- Twitter (US)
- Snapchat (US)
- LinkedIn (US)
- Pinterest (US)
- Amazon (US)
- Alibaba Group (China)
- ByteDance (China)
- WeChat (China)
- Spotify (Sweden)
- Netflix (US)
- Tencent (China)
- Baidu (China)
- Uber (US)
- Airbnb (US)
- Adobe (US)
Influencer Market Recent Developments
- In April 2022, Mavrck. Co, a US-based influencer marketing platform will partner with the leading social media marketing and commerce platform for small businesses named Later. They both will together solve the problems of influencers regarding the monetization measurement and add technical advancements to the platform for a better brand and influencer reach.
- In April 2022, a US-based influencer marketing company named AspireIQ, launched an analytical product that will allow the creator to track some important parameters such as brand awareness, engagement rate, and sales for the endorsed product. This enables them to plan out to improve content creation for better growth for future ventures.
Influencer Key Market Trends
- Micro and nano influenced by video content have proven to be an amazing strategy to promote products to every customer and this is growing day by day due to internet penetration and customer engagement on the internet and shopping from online platforms. This enables the company to maintain its presence on these platforms through an influencer who can generate constant revenue which increases the demand of the influencer market during the forecast period.
Influencer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the North American region held the largest market revenue share which is around 30% for the global influencer market and Europe is expected to grow at a CAGR of 32% through the analysis period. The search & discovery sector accounts for 35% of the total revenue and the fashion & lifestyle industry accounted for 29% of total influencer market revenue in the year 2021. Increasing use of smartphones and penetration of the internet to remote areas has increased the user presence on various online platforms driving the influencer market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.39 Billion |
| Market size value in 2031 | USD 139 Billion |
| Growth Rate | 33.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Influencer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Influencer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Influencer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Influencer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Influencer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Influencer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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