The global influencer marketing platform market size is projected to touch USD 23.52 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 26.8% over the estimated duration. The advent of the latest technologies such as AI, ML, IoT, and NLP offer better analytics and results, thereby guiding marketers in undertaking effective decisions.

The growing penetration of AI-driven influencer marketing platforms is projected to develop an automated environment for making efficient partnerships. Technologies such as Natural Language Processing (NLP) and Artificial Neural Networks (ANN) can be used to offer suitable insights to influencers by examining various posts and image attributes and assisting brands in streamlining workflow processes. Moreover, preference for these technologies helps marketers select the right influencer, which is expected to aid in market growth in the upcoming years. For example, the Caution Engine provided by IZEA uses machine learning to process voluminous information for analysis on the influencer platform in the company database to enhance the network and recognize influencers who follow brand safety measures.

Cord-cutting is also projected to propel the influencer marketing platform market from 2019 to 2025. The lowering popularity of TV viewership and rising screen time offer marketers opportunities to leverage social media marketing. Moreover, marketers are spending extensively on various social media platforms to satisfy the growing online masses.

The sports & fitness division is predicted to offer new avenues to influencers over the forecast years. Factors such as brand loyalty, growing merchandise, the trend of a healthy lifestyle, and rising ticket sales are projected to fuel market growth in the upcoming years. Moreover, cost-effective equipment and product innovation have made sports more accessible to customers. The fusion of fashion & beauty into sports & fitness is encouraging companies to enter into new business lines such as the production of athleisure, thereby bolstering market growth over the estimated duration.

The growth of hybrid influencers is projected to accelerate the growth of the market from 2019 to 2025. Hybrid influencers allow brands to use social media advertisements to spend on various influencer posts through brand content or social media to gain greater insights. For example, Scrunch, an advertising firm, enabled marketing teams to grow business with the help of hybrid influencers.

Further key findings from the report suggest: influencer marketing

• Influencer management is predicted to grow rapidly from 2019 to 2025 due to the increasing demand for brands to sustain efficient relationships with influencers for longer partnerships.
• SMEs are anticipated to benefit from the penetration of influencer marketing due to higher engagement and cost-effectiveness.
• The sports & fitness division is projected to foresee considerable growth in the upcoming years, owing to increasing awareness relating to the benefits of living a healthy lifestyle.
• Asia Pacific is anticipated to lead the market over the forecast years, due to the growing preference for mobile, which makes it simpler for marketers to reach large audiences through social media. influencer marketing
• The leading players in the influencer marketing platform market are Hypetap Pty Ltd.; Speakr Inc.; AspireIQ Inc.; Upfluence, and Grapevine Logic Inc.