Influencer marketing is basically a mixture of old and new marketing tools, which involves a brand collaborating with an online influencer to promote its products and services. By the use of influencer marketing, organizations can reach out to more people as compared to traditional marketing practices. Moreover, influencer marketing platform also enable organizations to work with influencers and connect with their audience, which results in better connections, higher engagement, and ultimately achieve more sales.
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Substantial increase in media consumption and recent growth in social media apps such as Instagram and Tik-Tok is the major factor expected to boost growth of the market. However, inauthentic social media activity and budget concerns hampers the market growth. Furthermore, rise in adoption of technologies such as big data analytics, AI, and machine learning for influencer marketing is expected to provide lucrative opportunity for the influencer marketing market.
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The influencer marketing market is growing at a very fast pace. In addition, the market is very competitive so prominent players are adopting different strategies such as expansion of their services, new product launches, collaborations, partnerships, and mergers to increase their customer base. For instance, Hypetap Pty Ltd., a leading influencer service platform vendor launched an AI-enabled tool, which helps marketers to identify people, scenes, activities, and objects on social media and assist organizations to decide which influencer is most appropriate to collaborate with.
Nowadays, marketers are continuously looking for new techniques to connect with their customers, build relationships, and identify new opportunities. Therefore, organizations are increasingly moving toward various marketing techniques, such as influencer marketing. Influencer marketing provides comprehensive offerings that present an end-to-end solution to marketers.
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Leading players in the market are IZEA (US), HYPR (US), Traackr (US), InfluencerDB (Germany), Launchmetrics (US), Julius (US), Klear (US), Upfluence (US), AspireIQ (US), Mavrck (US), Onalytica (UK), Lumanu (US), Lefty (France), Linqia (US), Social Beat (India).
Key Benefits of the Report –
- This study presents analytical depiction of the global influencer marketing market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global influencer marketing market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
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