Influencer marketing industry: current state of the industry and trends for the 2024-2029 gap


The influencer marketing industry, according to the Influencer Marketing Hub report, is expected to reach $21.1 billion in 2023 and $69.92 billion by 2029, which implies a CAGR of 32.50%. The report also shows that more than 83% of marketers recognize the effectiveness of influencer marketing as a strategy, and 67% of brands have already increased their influencer marketing budgets in 2023.

So what can we expect from influencer marketing in the coming period? One of the main trends that will have a significant impact on its development in 2024 is the introduction of artificial intelligence (AI) into this process. AI can help brands and influencers in a variety of ways, including offering new ideas, indicating market trends, and the desires of followers. 

Among other things, affiliate marketing is expected to grow significantly in 2024 as more and more brands and influencers switch to this model of interaction. According to a report by Business Insider, the affiliate marketing industry will reach $8.2 billion by 2025, up from $5.4 billion in 2017. The study also found that 81% of brands and 84% of publishers use affiliate marketing, and that it accounts for 15% of all digital media revenues.