Influencer Marketing Platform Market Is Driving Social Media Platform

The influencer marketing platform market is anticipated to witness a CAGR of 26.8% from 2019 - 2025. The platform is a type of marketing that concentrates on promoting one’s brand message to the larger industry. It plays an important role in content and social media marketing. Most influencers promote social media components using their personal social channels and carry a content element. For instance, Instagram influencer promotion is a novel way to promote latest services and products. iFluenz is an Instagram promotion platform that aided Yves Rocher to generate awareness regarding its new product called “Eco-Douche”.

This industry maximizes consumer lifetime revenue, attract new patrons, boost consumer loyalty, and double the purchases. This, in turn, will show a positive impact on overall industry growth. Rising use of enhanced technology to advance marketing practices will create new opportunities for the industry in the next six years. Enhanced technologies such as machine learning (ML), artificial intelligence (AI), natural language processing (NLP), and artificial neural networks (ANN) offer advanced analytics and search results that are anticipated to guide vendors in taking better verdicts.

Growing emphasis on healthy lifestyle amongst fitness enthusiasts and players will escalate business growth in the coming years. Promotion of sports fashion and equipment using a social platform to create a buzz among the populace will drive industry demand. Also, rise of hybrid influencers is estimated to stimulate business outlook in the projected period. It allows brands to promote products using social media ads or use branded content tools for better interactions and deeper insights.

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Influencer marketing platform industry is categorized based on application, organization size, end-use, and region. Based on application, the industry is categorized into influencer management, campaign management, analytics & reporting, and search & discovery. Analytics & reporting segment is anticipated to witness lucrative growth in the forecast period. Growing need to gauge factors like e-product download, website traffic, database growth, and sales generated by industries, which are important to track business progress, and marketing strategy will contribute to product demand in the next six years.

Based on organization size, the industry is categorized into small and medium enterprises (SMEs) and large enterprises. Based on end-use, the industry is categorized into fashion & lifestyle, food & entertainment, travel & holiday, and sports & fitness. Geographically, the industry is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is anticipated to witness the fastest growth rate in the forecast period. The high growth is attributable to increasing awareness among patrons regarding new digital platforms to promote business.

Prominent manufacturers of the influencer marketing platform market include Hypetap Pty Ltd.; AspireIQ; Webfluential; Grapevine Logic Inc.; Upfluence Inc.; Klear; Traackr Inc.; Mavrck; Speakr Inc.; and NeoReach. These producers are developing machine learning (ML) and artificial intelligence (AI)-based solutions and tools to create a strong position in the market. For instance, Hypetap Pty introduced its novel AI tool that pairs brands with suitable influencers. It helps vendors to recognize objects, people, activities, and scenes on social media and find the appropriate influencer to team up.