DUBLIN--(BUSINESS WIRE)--The "Influencer Marketing Platform Market by Component, Application (Search and Discovery, Campaign Management, Influencer Relationship Management, and Analytics and Reporting), Organization Size, End User, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global influencer marketing platform market to grow from USD 5.5 billion in 2019 to USD 22.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 32.4% during the forecast period.
Customers' shift toward video-based content across over-the-top (OTT) space to drive the adoption of influencer marketing platform across end-users
Major growth factors for the market include customers' shift toward video-based content across over-the-top (OTT) space and the need for reducing authentication & identification costs. However, security and privacy issues with new advanced technologies would limit the market growth.
Health and wellness to grow at a higher CAGR during the forecast period
Based on end-user, the influencer marketing platform market is divided into fashion & lifestyle, agencies & public relations, retail & consumer goods, health & wellness, banking & financial institutes, travel & tourism and others. The influencer marketing platform market has a sustainable future in the healthcare sector as efforts are being made to spread awareness of lifestyle & wellness programs and medical care.
The end-users are benefited in various ways through influencer marketing as they understand about the numerous products which help them identifying authentic products and services. Influencer marketing solutions are an effective marketing tool, which aid various hospitals and health providers in increasing patient engagement, branding, and professional reputation building.
Large enterprises to hold a higher market share during the forecast period
Organizations have been gradually recognizing the importance of influencer marketing platform software and have started deploying them as per their needs and available resources. Conventional marketing and advertisement techniques are not sufficient in the age of social media. These techniques don't create much impact over the customers and results in wastage of the money and efforts. Wherein, influencer marketing technique targets the people who pursue hobbies and interest in the same area that enables marketers to identify their targeted prospectus and build a relationship with them through social media personalities.
Influencer marketing platform market in Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The high growth in the APAC market is attributed to the significant growth potential, increasing social media adoption, and rising digitalization with an increasing need to remain globally competitive. Furthermore, the inclination of APAC countries toward emerging technologies such as Artificial Intelligence (AI) is also expected to fuel the growth of the influencer marketing platform market.
However, the lack of technological awareness, privacy issues, and limited technical expertise in advanced technologies remain significant hurdles in the influencer marketing platform adoption across the region. The cloud-based influencer marketing platforms present an optimal solution for these countries by minimizing integration complexities and installation costs.
Key Topics Covered:
2 Research Methodology
3 Market Overview and Industry Trends
3.2 Market Dynamics
188.8.131.52 Customer Shift Towards Video Based Content Across Over the Top (Ott) Space
184.108.40.206 Rising Ad-Blocking to Enhance Adoption of Influencer Marketing Platform
220.127.116.11 Measuring the Effectiveness of Campaigns
18.104.22.168 Gain Consumer Trust and Create New Brand Image
22.214.171.124 Increasing Need of Big Data Analytics, AI and Machine Learning for Influencer Marketing
126.96.36.199 Rise of Fake Followers
3.3 Industry Trends
3.3.1 Influencer Marketing Platform Market: Use Cases
188.8.131.52 Regaining the Attention From Target Consumers With Influencer Marketing Platform From Traackr
184.108.40.206 Boost Sales During Father's Day Through Influencers
220.127.116.11 Conduct Campaign to Spread Awareness Regarding Britain's Economical Tourism Across Europe Through Influencers
3.3.2 Regulatory Implications
3.3.4 General Data Protection Regulation (GDPR)
3.3.5 Governance, Risk, and Compliance (GRC) Standards
3.3.6 EU Data Protection Regulation
3.3.7 Health Information Technology for Economic and Clinical Health (HITech)
3.3.8 Health Insurance Portability and Accountability Act (HIPAA)
4 Influencer Marketing Platform Market By Component
4.2.1 Increasing Need of Identifying Right Influencer to Drive the Growth
18.104.22.168 Need for Enhanced Strategic Outlook, Improved Performance Efficiencies, and Business Transformation to Drive the Consulting Services
4.3.2 Deployment and Integration
22.214.171.124 Rise in the Adoption of Influencer Marketing Platform Solutions With Inherent Need to Align Solution to the Client Environment to Drive the Deployment and Integration Services
4.3.3 Support and Maintenance
126.96.36.199 Complexity of Operations and the Need for Regular Assistance During the Software Lifecycle to Foster the Growth of Support and Maintenance Services
5 Influencer Marketing Platform Market By Application
5.2 Search and Discovery
5.2.1 Need of Identifying Potential Influencer for the Marketing Campaigns
5.3 Campaign Management
5.3.1 The Advantage of Customer Authentication During Live Conversation has Increased Its Significance
5.4 Influencer Relationship Management
5.4.1 Build Long Term Relationship With Influencers to Enhance Brand Trust Among Customers
5.5 Analytics and Reporting
5.6 Compliance Management and Fraud Detection
6 Influencer Marketing Platform Market By Organization Size
6.2 Small and Medium-Sized Enterprises
6.2.1 Need for Viable Cloud-Based Biometrics Solutions to Drive the Adoption of Influencer Marketing Platform in Small and Medium-Sized Enterprises
6.3 Large Enterprises
6.3.1 Increasing Adoption of Advanced Technologies to Drive the Adoption of Influencer Marketing Platform in Large Enterprises
7 Influencer Marketing Platform Market By End User
7.2 Fashion and Lifestyle
7.3 Agencies and Public Relations
7.3.1 Need for Comprehensive Social Media Marketing Solution Driving the Adoption of Influencer Marketing Platform Among Agencies and Pr
7.4 Retail and Consumer Goods
7.4.1 Need for Enhanced, User-Friendly Authentication Techniques Would Foster the Adoption of Influencer Marketing Platform
7.5 Health and Wellness
7.7 Banking and Financial Institutes
7.8 Travel and Tourism
8 Geographic Analysis
- Social Beat
For more information about this report visit https://www.researchandmarkets.com/r/ajcd5f