Key regions: Australia, Germany, France, Europe, United States
Influencer advertising is a rapidly growing market in Ireland, driven by the increasing popularity of social media platforms and the shift in consumer behavior towards online shopping.
Customer preferences: Customers in Ireland are increasingly turning to social media platforms for product recommendations and reviews. Influencers, who are seen as relatable and trustworthy, have become an important source of information for consumers. They often collaborate with brands to promote products or services to their followers, leveraging their influence to drive sales.
Trends in the market: One notable trend in the influencer advertising market in Ireland is the rise of micro-influencers. These are individuals with a smaller but highly engaged following, often within a specific niche. Brands are recognizing the value of micro-influencers in reaching targeted audiences and are increasingly partnering with them to promote their products. This trend is driven by the desire for more authentic and personalized content, as micro-influencers are seen as more relatable and trustworthy by their followers. Another trend is the growing use of video content in influencer advertising. Platforms like YouTube and TikTok have gained significant popularity in Ireland, and influencers are leveraging these platforms to create engaging video content that resonates with their audience. Brands are recognizing the power of video in capturing attention and are collaborating with influencers to create video-based campaigns.
Local special circumstances: Ireland has a vibrant influencer community, with many popular influencers hailing from the country. This has created a favorable environment for influencer marketing to thrive, as brands can easily find local influencers who can effectively promote their products to the Irish audience. Additionally, Ireland's strong digital infrastructure and high internet penetration rate contribute to the growth of influencer advertising.
Underlying macroeconomic factors: The growth of the influencer advertising market in Ireland is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, leading to increased consumer spending power. This has fueled the demand for products and services, and brands are turning to influencer advertising as a way to reach and engage with consumers in a crowded market. Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers have increasingly turned to e-commerce platforms for their shopping needs. This has created new opportunities for influencer advertising, as brands seek to capture the attention of online shoppers and drive sales through effective influencer partnerships. In conclusion, the influencer advertising market in Ireland is experiencing significant growth, driven by customer preferences for social media recommendations, the rise of micro-influencers, the use of video content, and the country's vibrant influencer community. These trends, coupled with favorable local circumstances and underlying macroeconomic factors, are shaping the development of the market in Ireland.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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