The global influencer marketing platform market is expected to witness significant growth during the forecast period (2020–2027). This is attributed to the increasing number of users on social media platforms that is increasing the demand for influencer marketing platform solutions. For instance, according to Coherent Market Insights’ analysis, in 2020, there are 3,830 million people that are actively using social media platforms from 3,312 million people in 2019 across the globe. Furthermore, according to Coherent Market Insights’ analysis, in 2020, 6,450 million users are using mobile phones from 5,110 million people in 2019 across the globe. Moreover, social media platforms such as Facebook, Instagram, and Twitter are witnessing significant growth during the forecast period. For instance, according to Coherent Market Insights’ analysis, Instagram has 1,000 million monthly active users globally. 22.0% of the world’s 4,530 million internet users are using Instagram monthly. TikTok is another social media platform that is witnessing high growth due to an increase in user registrations. TikTok has dominated sponsored ads, targeting audiences between 15-30 years with user-generated short videos. For instance, according to Coherent Market Insights’ analysis, TikTok has 45,200 million users in 2020 from 35,400 million users in 2019 in the U.S. Therefore, the


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rise in social media platforms with increasing customer base is supporting growth of the influencer marketing platform market.
Lack of technological awareness, availability of limited professional, and less influence of campaign are expected to hamper the influencer marketing platform market growth during the forecast period. Furthermore, government initiatives to ban few social networking applications such as TikTok, which is very popular among youth, is also expected to hamper the market growth.
Global Influencer Marketing Platform Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 pandemic is expected to drive growth of the market during the forecast period. There has been a significant impact on growth of the influencer marketing platform market. Due to COVID-19, most of the office premises across the world are closed and companies are using digital platforms to promote their businesses. Digital platforms gained immerse traction and this has resulted in new brand collaborations. Furthermore, most of the people are staying at home and maintaining social distancing, which increases the demand for social medial platforms in the market. Due to the increasing use of social media, influencers have gained the opportunity to keep their target audiences engaged with creative and positive content. The influencer marketing platform was affected during quarters Q1 and Q2 of 2020 due to temporary shutdown of business operations. However, this has reduced the total branding cost across the COVID-19 affected countries and provides an opportunity for brands to create a broad range of audience pool in the market. This, in turn, increases demand for influencer marketing platform.