The Indian Influencer Marketing Industry Estimated To Reach INR3,375 Crore By 2026 The most recent report by EY and Collective Artists Network's Big Bang Social highlights the influencer marketing trends in India and shows that the sector is expected to develop significantly.
By Kavya Pillai
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The most recent report by EY and Collective Artists Network's Big Bang Social highlights the influencer marketing trends in India and shows that the sector is expected to develop significantly. The 'The State Of Influencer Marketing in India' report projects that the country's influencer market will grow by 25% in 2024 to reach INR 2,344 crore and then by another 25% to INR 3,375 crore by 2026. These forecasts highlight the influencer marketing industry's enormous potential and steady expansion, offering plenty of chances for marketers, influencers, and brands to collaborate.
One important finding of the survey is that, as social media accounts for half of all mobile usage, marketers must incorporate influencer marketing into their communication plans. Furthermore, it is anticipated that 740 million cellphones will be in use.
Reflecting on the key findings of the report, Amiya Swarup, Partner, Marketing Advisory, EY India said, "In today's rapidly changing Indian society, citizens face transformations in various aspects - be it societal norms, career paths, financial strategies, or cultural shifts. Influencers are stepping in to provide guidance, reassurance, and advice, effectively assuming the role of contemporary heroes. Coupled with the projected growth in influencer marketing, it's clear that influencers now define an unprecedented era of knowledge and impact, while also unlocking vast opportunities for brands and marketers."
The research goes on to say that the lifestyle, fashion, and beauty categories are expected to propel the expansion of influencer marketing. According to further poll data, the industries most likely to see an increase in influencer marketing spending are automotive, e-commerce, and fast-moving consumer goods.
"It is encouraging to see that brands are recognizing the potential of the creator economy and are increasingly investing in influencer marketing, with sectors like FMCG, automobiles, and consumer durables leading the way," said Vijay Subramaniam, Group CEO and Founder of Collective Artists Network. In the fast-paced and cutthroat world of influencer marketing, this research should be a priceless tool for companies looking to connect with consumers, generate engagement, and achieve long-term success.
