USD 13.3 Billion
Report ID: SQSG45B2007 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 66 | Figures: 65
Influencer Market was valued at USD 13.3 Billion in 2021, and it is expected to reach a value of USD 109.37 Billion by 2028, at a CAGR of 35.12% over the forecast period (2022 - 2028).
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.
Global Market Size
USD 13.3 Billion
Fashion & Lifestyle
Fashion & Lifestyle
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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.
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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.
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Influencer Market Driver
Influencer Market Restraint
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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
Influencer Market Recent Developments
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.
|Market size value in 2021||USD 13.3 Billion|
|Market size value in 2028||USD 109.37 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Influencer Market:
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Product ID: SQSG45B2007