Global Influencer Marketing Software Market is set to grow at a CAGR of 13.7% over the Forecast Period (2019 – 2027), due to growing adoption in health and fitness industry: says Absolute Markets Insights
Influencer Marketing Software Market is witnessing a significant growth as the use of influencer marketing has been rising in the recent years owing to the reach achieved through an influencer-led marketing campaign. The health and fitness industry is expected to lead the adoption levels for software used for influencer marketing. The industry of health and fitness has been receiving growing amounts of investments from industry veteran and relatively new organizations. Products offered under the market are having a direct or indirect relationship with the
Companies from the health and fitness industry are looking towards newer alternatives to traditional marketing initiatives provided by market participants. The adoption of influencer marketing software is expected to aid their marketing processes through effective management of influencer-led marketing campaigns. Innovative products and instruments developed in the industry require targeted marketing techniques in order to reach the target audience in an optimal manner. The growing demand for influencers is hence, arising in order to improve awareness regarding the device and lead to better sales numbers for the company.
One of the notable examples in the adoption of influencer marketing software is Amika, which is a health and beauty product manufacturer. The company has been investing in influencer marketing since the last couple of years. However, the effectiveness of influencer marketing process was a challenge for the company. The organization utilized the software from Traackr, which is a software provider from the UK, in order to enhance the marketing procedure and helps in ensuring peak operations management. The influencers helped users to understand the products provided in depth. The company has seen a dramatic change in user click through rate when comparing preceding years as compared to this year. In addition to the aforementioned efforts, the company is also investing to market their products through the ‘YouTube’ video platform for raising awareness regarding their products and collaborating with more influencers for marketing their lineup of products.
In terms of revenue, the global influencer marketing software market stood at US$ 1547.2 Mn in 2018 and is anticipated to reach US$ 4842.5 Mn by 2027, expanding at a CAGR of 13.7% during the forecast period.
“Offerings under the global influencer marketing software market are gaining prominence amongst various industry verticals. The health and fitness industry is expected to become a major adopter of the software owing to the rising ventures from various organizations into the industry along with the upsurge in influencers for health and fitness products and services.”
The detailed research study provides qualitative and quantitative analysis of the global influencer marketing software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers regional product/service analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
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Global Influencer Marketing Software Market Revenue (USD Million), 2018, By Region
- Large enterprises are expected to adopt advisory services focused towards management of reputational risk. This is primarily due to the significantly higher marketing budgets of these organizations as compared to small and medium sized enterprises and the wide range of product lineups that these organizations are dealing with.
- Discovery and selection are the target applications for investments from organizations. The growing need for influencers for specific product segments are leading organizations for using influencer marketing software in influencer selection.
- The use of influencer marketing software is observed to be the highest in the region of North America. The presence of market leaders from various industry verticals across the region along with the presence of numerous influencers with notable media presence is driving the demand for the market offerings across the region.
- The major providers in Influencer Marketing Software Market include 1nfluencers.com, AspireIQ, Buzzoole, Captiv8, Fanbytes, HYPR Brands, Grapevine Logic Inc., UPinfluence, InfluencerDB, IZEA, JuliusWorks, Klear, Kolsquare, Lefty, Mavrck, NeoReach, OpenInfluence, Popular Chips, Scrunch LLC, and Sideqik amongst others.
Influencer Marketing Software Market:
- By Type
- By Application
- Content Campaign
- Discovery and Connection
- By Industry Vertical
- Beauty and Cosmetics
- Food and Beverages
- Health and Fitness
- By Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America