Global Influencer Advertising market to reach US$56.28bn by 2029
By Oluwaseyi Lawal
The Global Influencer Advertising market has been forecasted to experience a compound annual growth rate (CAGR 2024-2029) of 9.91%, leading to a projected market volume of US$56.28bn by 2029.
By 2024, the Ad spending in the market worldwide is anticipated to reach US$35.09bn. The average ad spending per internet user in the Influencer Advertising market is also estimated to be US$6.16 in 2024.
In global comparison, China is anticipated to generate the highest ad spending, amounting to US$19,160.00m in 2024. The market in scope includes the Advertising spending paid directly to influencers to post sponsored content.
In the United States, influencer marketing is on the rise as brands increasingly invest in partnerships with social media figures to connect with their desired audiences. The key regions in context here are Australia, Germany, France, Europe and United States.
Influencer marketing involves promoting products or services by partnering with social media influencers. It enables marketers to reach specific audiences based on the influencer’s engagement and follower demographics, while also allowing them to track the effectiveness of their campaigns. This type of advertising includes payments made directly to influencers (or their representatives) for sharing sponsored content, such as posts, videos, or stories, on social media platforms to endorse products or services to their followers.
Such content often features visuals, videos, live streams, or written text.
Influencer Advertising includes expenditures, user numbers, and average revenue per user (ARPU). The data reflects B2B spending exclusively, with figures representing advertising costs and not accounting for agency fees, rebates, production expenses, or taxes.
The key drivers of growth in the market include:
Growth of Social Media Platforms
The continuous rise of platforms such as TikTok, Instagram, and YouTube is at the heart of influencer marketing’s rapid growth. TikTok, in particular, has created a new breed of influencers who specialize in short-form video content. Instagram’s shopping features and YouTube’s monetization options further encourage influencers to work with brands, providing seamless ways to integrate product promotion with organic content.
Authenticity and Consumer Trust
Influencers are often seen as more authentic and relatable compared to traditional celebrities. Their ability to create personal, engaging content has made them trusted figures in the eyes of their followers. As consumer skepticism toward traditional advertising grows, influencers are increasingly viewed as credible sources of recommendations, driving higher engagement and conversion rates for brands.
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