Influencer marketing software aims to identify and connect businesses to the audience and publishing influencers. Such resources provide marketing teams with insights about which advertising is more successful and which influencers to link to. Increasing usage of ad-blocking applications, rising demand for machine learning, AI, and Big Data analytics for influencer marketing are some of the key factors which drives the Influencer Marketing Software market globally.
Global Influencer Marketing Software Market: Dynamics
- Increasing demand for advance solutions
- Increasing use of AI-enabled influencer marketing platform is projected to create an integrated framework for marketers to establish successful partnerships. Artificial neural network and NLP can be leveraged to give crucial information to influencers by evaluating multiple product attributes, tweets, and thereby allowing marketers to improve the workflow phase.
North America Led the Global Influencer Marketing Software Market in 2019
- Based on region, the global influencer marketing software market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held dominant share of the global influencer marketing software market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are the major countries that drive the market in this region. Growth in the number of ad-blockers has driven marketers to consider a new way to target consumers, which has contributed to the need to implement an influencer marketing system.
- The influencer marketing software market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. India, China, Japan, and Australia are major countries of the influencer marketing software market in the region. APAC is projected to surpass its market share over the forecast period due to a growth in population, connected devices, and engaged consumers of social media.
Solution segment to retain a greater market share in Influencer Marketing Software market over the forecast period
- Based on component, the market is segmented into solution and services. The solution segment accounted for dominant position in the market in 2019 and is expected to retain its dominance throughout the forecast period. The segment is expected to expand at the highest CAGR during the forecast period. Marketers are constantly searching for innovative solutions to communicate with their clients, build relations, and find potential business opportunities. Organizations are also gradually shifting to a range of communication strategies such as influencer and digital marketing. Cloud/SaaS-based influencer marketing solutions are seeing increasing acceptance across a wide spectrum of offerings that provide an end-to-end approach for marketers.
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Key Players Operating in the Global Influencer Marketing Software Market
Key players operating in the global Influencer marketing software market are listed below:
- Social Beat
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