The research study involved the use of extensive secondary sources, directories, and databases, such as D&B Hoovers and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the global influencer marketing platform market. The primary sources were mainly industry experts from the core and related industries, preferred software providers, distributors, service providers, technology developers, alliances, and organizations related to all the segments of the industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as assess the market’s prospects.
Secondary Research
The market size of companies offering influencer marketing platform software and services was arrived at based on secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolios of major companies and rating the companies based on their performance and quality.
In the secondary research process, various sources were referred to identify and collect information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendor websites. Additionally, influencer marketing platform software and services spending of various countries was extracted from the respective sources. Secondary research was mainly used to obtain key information related to the industry’s value chain and supply chain to identify key players based on solutions, services, market classification, and segmentation according to offerings of major players, industry trends related to solutions, services, deployment modes, functionality, applications, verticals, and regions, and key developments from both market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and influencer marketing platform software experts; related key executives from influencer marketing platform software vendors, system integrators, professional service providers, and industry associations, and key opinion leaders.
The following is the breakup of primary profiles:
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Market Size Estimation
In the top-down approach, an exhaustive list of all the vendors offering software and services in the influencer marketing platform market was prepared. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each offering of various vendors was evaluated based on the breadth of services, deployment modes, marketing types, applications, and end users. The aggregate revenue of all companies was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
In the bottom-up approach, the adoption rate of influencer marketing platform software and services among different end users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of influencer marketing platform software and services among industries, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
Based on the market numbers, the regional split was determined by primary and secondary sources. The procedure included the analysis of the regional penetration of influencer marketing platform software and services. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socio-economic analysis of each country, strategic vendor analysis of major influencer marketing platform solutions and services providers, and organic and inorganic business development activities of regional and global players were estimated. With the data triangulation procedure and data validation through primaries, the exact values of the overall influencer marketing platform market and its segments were determined and confirmed using the study.
All the possible parameters that affect the market covered in the research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
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The pricing trend is assumed to vary over time.
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All the forecasts are made with the standard assumption that the accepted currency is USD.
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For the conversion of various currencies to USD, average historical exchange rates are used according to the year specified. For all the historical and current exchange rates required for calculations and currency conversions, the US Internal Revenue Service’s website is used.
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All the forecasts are made under the standard assumption that the globally accepted currency, USD, remains constant during the next five years.
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Vendor-side analysis: The market size estimates of associated solutions and services are factored in from the vendor side by assuming an average of licensing and subscription-based models of leading and innovative vendors.
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Demand/end-user analysis: End users operating in verticals across regions are analyzed in terms of market spending on influencer marketing platform software and services based on some of the key use cases. These factors for the Influencer marketing platform tool industry per region are separately analyzed, and the average spending was extrapolated with an approximation based on assumed weightage. This factor is derived by averaging various market influencers, including recent developments, regulations, mergers and acquisitions, enterprise/SME adoption, startup ecosystem, IT spending, technology propensity and maturity, use cases, and the estimated number of organizations per region.
Market Size Estimation: Top Down And Bottom Up Approach
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Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
An influencer marketing platform, often referred to as a marketplace, functions as a centralized solution for businesses to discover, connect with, contract, and remunerate influencers for tailored campaigns. By automating key processes such as influencer identification and payment logistics, these platforms enhance efficiency in campaign management. It enable brands to effectively coordinate with multiple influencers, optimizing resource allocation and maximizing campaign effectiveness within a unified framework.
According to Later, an influencer marketing platform is specialized software tailored for enterprise businesses. It facilitates the identification of suitable creators, campaign creation aligned with specific objectives, and comprehensive performance monitoring. This technology streamlines influencer collaboration, ensuring efficient campaign execution and insightful analytics for informed decision-making and optimized results.
Key Stakeholders
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Influencer marketing platform software providers
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Influencer marketing platform service providers
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End-user enterprises
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System Integrators (SIs)
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Managed Service Providers (MSPs)
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Brand/ Marketing Agencies
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Technology providers
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Value-added resellers (VARs)
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Government and regulatory bodies
Report Objectives
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To define, describe, and predict the influencer marketing platform market by offering (software, and services), application, marketing type, end user, and region
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To provide detailed information about major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
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To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
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To forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
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To profile key players and comprehensively analyze their market rankings and core competencies
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To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the influencer marketing platform market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
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Product matrix provides a detailed comparison of the product portfolio of each company
Geographic Analysis
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Further breakup of the North American market for Influencer marketing platform
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Further breakup of the European market for Influencer marketing platform
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Further breakup of the Asia Pacific market for Influencer marketing platform
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Further breakup of the Latin American market for Influencer marketing platform
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Further breakup of the Middle East & Africa market for Influencer marketing platform
Company Information
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Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Influencer Marketing Platform Market