Influencer Advertising - Worldwide

Ad spending in the Influencer Advertising market worldwide is forecasted to reach US$35.09bn by 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2030) of 9.51%, leading to a projected market volume of US$60.52bn by 2030.
The average ad spending per internet user in the Influencer Advertising market is estimated to be US$6.16 in 2024.
When compared globally, China is anticipated to generate the highest ad spending, amounting to US$19.16bn in 2024.
In the United States, Influencer Advertising is experiencing a surge in popularity, with brands investing more in collaborations with social media personalities to reach their target audiences.

Definition:
Influencer Advertising refers to advertising that allows marketers to promote products or services by collaborating with influencers on social media. Influencer Advertising allows marketers to reach targeted audiences based on the influencer’s performance and their follower profiles; they also have the ability to measure the performance of campaigns. Influencer Advertising refers to all advertising fees paid directly to influencers (or to their person of trust or representative) for posting or streaming sponsored content (e.g., posts, videos, and/or stories) on social media to promote products or services to their followers. This sponsored content typically includes images, videos, live streams, and/or text.

Additional information:
Influencer Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

Advertising spending paid directly to influencers to post sponsored content

The values of giveaway products as well as services that influencers receive in exchange for reviews, mentions, or giveaways for their followers
Advertising spending allocated to paid social media campaigns to boost content
Affiliate commissions, i.e., the commissions that are paid to influencers when someone makes a purchase based on their content or links
Gross merchandise volume (GMV) of transactions from sponsored posts or live streams

The Influencer Advertising market is experiencing significant growth and development Worldwide.

Customer preferences: Influencer advertising has become increasingly popular among consumers due to its authenticity and relatability. Customers are more likely to trust and engage with influencers who they perceive as genuine and knowledgeable in a specific niche. As a result, brands are leveraging the power of influencers to promote their products or services and reach a wider audience. Additionally, customers are also seeking personalized experiences and recommendations, which influencers are able to provide through their content.

Trends in the market: One of the key trends in the Influencer Advertising market is the rise of micro-influencers. These are individuals with a smaller following but a highly engaged audience. Brands are recognizing the value of micro-influencers as they often have a more targeted and niche audience, resulting in higher conversion rates. This trend is particularly evident in countries like the United States and United Kingdom, where micro-influencers are gaining popularity among brands across various industries. Another trend in the market is the increasing use of video content by influencers. Platforms like YouTube and TikTok have provided influencers with a powerful medium to engage with their audience through video content. This trend is driven by the growing popularity of video consumption among consumers, especially among younger demographics. Brands are capitalizing on this trend by collaborating with influencers to create engaging and entertaining video content that resonates with their target audience.

Local special circumstances: In countries like India and China, the Influencer Advertising market is experiencing rapid growth due to the large population and increasing internet penetration. These countries have a thriving social media landscape, with platforms like Instagram and WeChat being widely used by consumers. Influencers in these countries have a massive reach and are able to connect with a diverse audience. Furthermore, the rise of local influencers who cater to specific cultural and regional preferences has contributed to the growth of the market in these countries.

Underlying macroeconomic factors: The growth of the Influencer Advertising market is also influenced by macroeconomic factors such as increasing disposable income and changing consumer behavior. As economies grow and individuals have more disposable income, they are more likely to spend on products or services recommended by influencers. Additionally, the shift towards online shopping and e-commerce has created opportunities for influencer marketing, as consumers are looking for trusted recommendations and reviews before making a purchase. In conclusion, the Influencer Advertising market is witnessing significant growth and development Worldwide. Customer preferences for authenticity and personalized experiences, along with trends such as the rise of micro-influencers and video content, are driving the market forward. Local special circumstances in countries like India and China, as well as underlying macroeconomic factors like increasing disposable income, are also contributing to the growth of the market. As the market continues to evolve, brands and influencers will need to adapt to changing consumer preferences and leverage new platforms and technologies to stay relevant and impactful.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Influencer marketing has become one of the most popular and effective forms of online marketing. With millions of internet users browsing social media platforms for entertainment, inspiration, and product recommendations daily, it is no surprise that marketers are harnessing the power of social media’s most recognizable faces for promotion. The global influencer marketing market value stood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. As influencer endorsement continues to mature as an industry, the size and value of influencer marketing platforms also continue to expand every year, making collaborations between brands and creators more profitable than ever.