Global Influencer Market

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 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 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 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. '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)'

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.

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.

In 2021, the North American region held the largest market revenue share, which is around 30% of the 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.

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Global Influencer Market

Report ID: SQSG45B2007

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