South Korea Influencer Marketing Platform Market Poised To Grow At A Robust Pace Due To High Digital Adoption

 

The influencer marketing platform market in South Korea has witnessed significant growth in the recent years. Influencer marketing enables brands to leverage social media influencers for promoting their products and services. This helps brands to gain more organic reach and better engage with their target audience. The major types of influencer marketing platforms available in the South Korean market include campaign management, analytics, discovery and search, reporting, payments and other automation.

The Global South Korea Influencer Marketing Platform Market is estimated to be valued at US$ 236.9 Mn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024-2031. The South Korean influencer marketing industry is fueled by factors such as high digital & social media penetration, growing interest of Gen Z and millennials in digital content and influence, and cost-effectiveness of influencer marketing campaigns relative to traditional advertising channels.

Key Takeaways

Key players operating in the South Korea Influencer Marketing Platform are AJ Marketing, KOLsquare, Linfluencer, Mavive, PostPick, Socia, WeMakeStars, Ppoyogi, CreatorOS by Kakao, and TikTok Creator Marketplace. These players are focusing on expanding their solutions and service offerings to stay ahead of the competition.

The key opportunities in the South Korean influencer marketing platform market include identifying micro-influencers who have a strong connection with local or niche audience, partnerships and alliances between influencer marketing platforms and social media platforms, and developing highly targeted and customized influencer marketing campaigns.

The major global technology companies are expanding in the South Korean influencer marketing domain to gain a foothold in the fast growing Asian market. They are focusing on regionalizing their features, interfaces and campaigns to better resonate with the local culture and customer preferences.

Market Drivers

Growth In Digital Spending: The rising digital ad spending in South Korea is a major market driver. Digital advertising expenditures in South Korea grew at a CAGR of 10% between 2017 to 2022 and are expected to grow at a CAGR of 15% from 2022-2027.

Rising smartphone and social media penetration: High mobile phone and social media penetration has enabled easy access to influencers and their content for brands. Over 95% of the South Korean population uses smartphones.

Market Restraints

Lack of metrics and measurement standards: Inconsistency in measuring the outcomes of influencer campaigns affects the ability to quantify ROI. This acts as a restraint for brands to increase their influencer marketing budgets.

Ad clutter and content irrelevance: With the rise in influencer marketing, consumers are increasingly exposed to more irrelevant ad content mixed with organic content on social feeds. This impacts brand message communication.

Segment Analysis

The influencer marketing platform market is dominated by macro influencers sub segment. Macro influencers are individuals with over 100,000 followers on their social channels. Marketers prefer macro influencers as they have large engaged audiences which can be leveraged for campaigns leading to higher visibility and impact on targeted audiences. They are especially effective in driving awareness and consideration for brands.

The other emerging segments are micro and nano influencers. Micro influencers have 1,000 to 99,999 followers while nano influencers have less than 1,000 followers. Though they have smaller followers, micro and nano influencers are gaining popularity due to their higher engagement and authenticity. Their followers perceive them as trusted peers leading to better credibility for endorsed brands and higher conversion rates.

Global Analysis

The Asia Pacific region dominates the global influencer marketing platform market with South Korea being the major market. The region accounts for over 40% share driven by highly active social media users in countries like South Korea, China, and Japan.

South Korea has become an epicenter for influencer marketing with over 70% of marketers actively using influencers for campaigns. Brands are allocating significant budgets to leverage K-pop idols and other mega influencers with millions of followers. The country also has a thriving culture of micro influencers who have cult followings within tight-knit communities. The influencer marketing industry in South Korea is expected to grow at a CAGR of 22% during the forecast period.

*Note:

1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it

 

Get more insights on this topic: https://www.marketwebjournal.com/south-korea-influencer-marketing-platform-market-is-in-trends-by-social-media-usage-growth/

 

About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn - https://www.linkedin.com/in/priya-pandey-8417a8173/)

 

What Are The Key Data Covered In This South Korea Influencer Marketing Platform Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the South Korea Influencer Marketing Platform's growth between 2024 and 2031.

:- Accurate calculation of the size of the South Korea Influencer Marketing Platform and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- South Korea Influencer Marketing Platform Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of South Korea Influencer Marketing Platform vendors

FAQ’s

Q.1 What are the main factors influencing the South Korea Influencer Marketing Platform?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top South Korea Influencer Marketing Platform companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the South Korea Influencer Marketing Platform’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?


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