A key factor shaping the influencer marketing platform market growth is the influencer marketing platforms gain customer trust and create the brand image.

PORTLAND, PORTLAND, OR, UNITED STATE, January 12, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Influencer Marketing Market Reach USD 199.6 Billion by 2032 | Top Players such as – NeoReach, Mavrck and Aspire.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global influencer marketing market was valued at USD 16.5 billion in 2022, and is projected to reach USD 199.6 billion by 2032, growing at a CAGR of 28.6% from 2023 to 2032.

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Surge in legitimate engagement and digital transformation drive the market growth. In addition, cost-effective marketing drives the growth of the market. However, regulatory and compliance barriers and concerns with authenticity and saturation in influencer marketing concerns are expected to hamper the growth of the market. Furthermore, targeted niche markets are expected to create lucrative growth opportunities for the market.

The influencer marketing market is segmented into Component, Enterprise size, Application and Vertical. The influencer marketing market is segmented on the basis of component, enterprise size, application, vertical and region. On the basis of component, it is categorized into solution and services. On the basis of enterprise size, it is bifurcated into large enterprises and small and medium-sized enterprises (SMEs). On the basis of application, it is divided into campaign management, influencer relationship management, analytics and reporting, compliance management, and others. On the basis of vertical, it is fragmented into BFSI, fashion and lifestyle, healthcare and wellness, ad-tech, retail and e-commerce goods, travel and tourism, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By application, the search and discovery segment accounted for nearly one-third of the global influencer marketing market share in 2022 and is expected to remain dominant by 2032, owing to help organizations find influencers who align with their brand, target audience, and marketing goals based on factors such as niche, location, follower count, engagement rate, and content type. The analytics and reporting segment is projected to also display the fastest CAGR of 33.9% throughout the forecast period, owing to capabilities including tracking campaigns, audience insights, engagement analytics, tracking conversions, and ROI reports

By vertical, the fashion and lifestyle segment accounted for nearly one-sixth of the global influencer marketing market share in 2022 and is expected to remain dominant by 2032, owing to brands increasingly forming long-term partnerships with influencers as it helps to create more stable and authentic relationships instead of one-off campaigns. The travel and tourism segment is projected to display the fastest CAGR of 32.8% throughout the forecast period, owing to social media influencers promoting destinations, travel products, and services.

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By region, North America garnered the highest share accounting for nearly one-third of the global influencer marketing market revenue in 2022, and is projected to retain its dominance by 2032, owing to factors such as the increase in use of smartphones and enhanced internet connectivity aiding the growth of the influencer marketing market. The Asia-Pacific region is projected to witness the fastest CAGR of 22.6% during the forecast period, owing to increase in availability of high-speed mobile data, as more people in Asia-Pacific have access to the internet, which is expected to fuel the market growth in Asia-Pacific.

The key players profiled in the influencer marketing market analysis are as NeoReach, Mavrck, Aspire, Traackr, Inc., HireInfluence Inc, SocialEdge, Inc., Hypetap, Upfluence, Klear, and IZEA Worldwide, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the influencer marketing industry.

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KEY FINDINGS OF THE STUDY

● By component, the solution segment accounted for the influencer marketing market share in 2022.

● On the basis of enterprise size, the large enterprise segment generated the highest revenue in 2022.

● On the basis of application, the search and discovery segment generated the highest revenue in 2022.

● On the basis of end user, fashion and lifestyle segment generated the highest revenue in 2022.

● Region-wise, North America generated the highest revenue in 2022.

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