South Korea Influencer Marketing Platform Market to Grow at 20% CAGR owing to Increasing Awareness Among Brands and Marketers
5 Feb, 2025
South Korea Influencer Marketing Platform Market
Influencer marketing platforms have gained significant traction in South Korea over recent years. These platforms facilitate brands and marketers to partner with social media influencers to promote products and services online. Influencer marketing is seen as an effective promotional strategy, especially among younger generations that are highly active on platforms like Instagram, YouTube, and blogs. Influencer marketing platforms provide features like influencer databases with profiles, engagement metrics, content sharing and management, campaign management and reporting. This helps brands to identify right influencers as per their target audience and measurement of campaign performance
The South Korea Influencer Marketing Platform Market is estimated to be valued at USD 236.9 Mn in 2024 and is expected to reach USD 999.2 Mn by 2031, growing at a CAGR of 22.8% from 2024 to 2031. Key players operating in the South Korea influencer marketing platform market are Klear, BloggersHelp, and Upfluence.
They provide leading technology solutions to connect brands with social media influencers across various platforms. The demand for influencer marketing is growing rapidly in South Korea owing to increasing usage of social media platforms among young population. Moreover, high smartphone and internet penetration has enhanced influencer reach within target groups. Technological advancements like artificial intelligence and predictive analysis are helping South Korea Influencer Marketing Platform Marketto identify right influencers based on brand's target audience and goals. Platforms can also analyze campaign performance using technologies like sentiment analysis and engagement metrics. Market Trends User Experience - Platforms are focusing on enhancing user experience for both influencers and brands. Features like one-stop access to campaigns, simplified work-flows and analytics are gaining traction. Data Analytics - Advanced data analytics capabilities using AI are being offered to provide customized solutions for influencer targeting and campaign optimization. Multi-Platform Support - Platforms are expanding support across newer social networks and platforms like TikTok, Kakao, Instagram etc. to tap into growing influencer base. Market Opportunities Rising Popularity of Live Streaming - Live streaming influencer campaigns especially in gaming and entertainment are expected gain momentum in future. Expanded Reach in Tier 2/3 Cities - Large untapped regional influencer market presents significant opportunities for platforms to expand their reach. Impact of COVID-19 on South Korea Influencer Marketing Platform Market The COVID-19 pandemic impacted the growth of South Korea's influencer marketing platform market significantly. During the initial lockdown phase, brands cut down their marketing budgets which saw a steep decline in demand for influencer marketing campaigns. With store closures and social distancing measures in place, consumer purchases reduced drastically and the focus shifted towards essential commodities only. However, as people spent more time online, social media engagement increased manifold. Influencers started creating positive and mindful content to spread awareness about the pandemic. Brands also pivoted their communication to be more sensitive towards the situation. They collaborated with influencers to promote precautionary measures, share relief initiatives and support medical workers and communities. Now in the post-COVID phase, while physical outlets are functioning, brands are yet to increase spend on above-the-line activities to pre-pandemic levels. Many turned to influencer marketing as a cost-effective way to reach audiences. Livestreaming and reviews of products saw immense growth. Influencers worked with brands in live campaigns promoting new product launches, sales and delivering virtual experiential content. Though the market shrank initially, it is recovering steadily as brands recognize influencer marketing as a resilient platform even during crises. Concentration of South Korea Influencer Marketing Platform Market The South Korea influencer marketing platform market in terms of value is highly concentrated in Seoul, the capital city which accounts for over 35% of the total market share. Seoul is home to the headquarters of major conglomerates, technology companies, fashion labels and beauty brands who are key advertisers. It also has a large population of millennials and Gen Z who are highly engaged on social media and influenced by online opinions. Other major cities like Busan, Daegu, Incheon and Gwangju collectively make up for 30% of the market. The remaining share is distributed among other provincial regions. Fastest Growing Region for South Korea Influencer Marketing Platform Market Jeju province has emerged as the fastest growing region for South Korea's influencer marketing platform market in recent years. Jeju is a popular tourist destination known for its scenic nature and beaches. Several new-age bloggers and travel influencers have established their presence while promoting Jeju as a top travel spot. Local businesses partner with such influencers for promotional campaigns. Jeju's province government has also launched influencer marketing programs to establish the region as a lifestyle and wedding destination. This has fuelled the growth of influencer marketing activities and platforms catering to Jeju, outpacing other provincial areas.
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