“Global Virtual Influencer Market to reach a market value of USD 37.8 Billion by 2030 growing at a CAGR of 38.1%”
The Global Virtual Influencer Market size is expected to reach $37.8 billion by 2030, rising at a market growth of 38.1% CAGR during the forecast period.
Fashion brands leverage these influencers to showcase their collections and products. Through high-quality visual content, these influencers can highlight clothing, accessories, and lifestyle items in a captivating and aspirational manner. Therefore, the fashion & lifestyle segment captured $1,214.1 million revenue in the market in 2022. They serve as trendsetters and fashion-forward figures, showcasing the latest styles, designs, and fashion trends. Their digital nature allows for seamless experimentation with diverse looks, enabling brands to stay on the edge of the ever-evolving fashion landscape. They can host virtual pop-up shops and promote exclusive merchandise. This creates a sense of exclusivity and urgency, encouraging followers to participate in limited-time events and purchase unique items associated with these influencers.
Social media has become integral to people's daily lives, providing a platform for these influencers to connect with and influence a vast audience. As users spend more time on platforms like Instagram, TikTok, and YouTube, the reach and impact of these influencers continue to expand. Consumer behavior has been significantly changed by digital transformation. Also, consumers now rely on online platforms for information, entertainment, and shopping. Additionally, innovative and immersive content experiences enhance user engagement. They leverage advanced technologies such as augmented reality (AR), virtual reality (VR), and interactive storytelling to create content that captivates and holds audiences' attention, leading to increased engagement. These influencers can create 360-degree content, allowing users to explore environments from different perspectives. This immersive approach provides a more holistic and engaging viewing experience, particularly in sectors like travel, events, and virtual tours. Therefore, creating innovative and immersive content experiences is a key driver of these influencer market's expansion.
However, they are often designed to resemble human beings, raising questions about likeness and image rights. If these influencers closely mimic the appearance of a real person without permission, it can lead to legal disputes regarding the unauthorized use of an individual's likeness. The legal landscape surrounding virtual influencers is still evolving, and there may be uncertainty about applying existing intellectual property laws. The lack of clear guidelines specific to these influencers can create challenges for creators and sponsors in understanding their legal obligations. They may encounter challenges related to copyright infringement. This can occur when the content uses copyrighted materials, such as music, images, or text, without proper licensing or permission. The unauthorized use of copyrighted content can lead to legal consequences for the creators and sponsors. Due to the above factors, market growth will be hampered in the coming years.
Based on offering, the market is fragmented into solution and services. In 2022, the solution segment held the highest revenue share in the market. Solutions offering content creation and design tools enable creators and brands to design and develop visually appealing and engaging content for these influencers. Solutions incorporating artificial intelligence (AI) enable virtual influencers to interact with users in a dynamic and personalized manner. These tools may include chatbots, natural language processing (NLP), and machine learning algorithms that enhance influencers' conversational abilities and responsiveness. This includes tracking engagement metrics, audience demographics, and other key performance indicators to optimize content strategies and marketing campaigns.
On the basis of type, the market is segmented into non-human and human avatar. The non-human segment acquired a substantial revenue share in the market in 2022. Non-human virtual influencers are increasingly utilized in brand endorsements and marketing campaigns. Their unique and imaginative personas can align with specific brand messages, offering a fresh and creative approach to storytelling. These virtual entities contribute to the entertainment industry by creating engaging and original content. From animated series to interactive experiences, non-human influencers cater to audiences seeking novel and immersive forms of entertainment. Some non-human influencers are designed to provide educational content or act as AI-driven assistants.
By end-use, the market is classified into food & entertainment, sports & fitness, banking & finance, travel & holiday, fashion & lifestyle, and others. The banking & finance segment projected a prominent revenue share in the market in 2022. They can be integrated into customer support systems to provide interactive assistance. They can help answer frequently asked questions, guide users through online banking processes, and conversationally offer support, enhancing the overall customer experience. They can be used to promote various banking products and services, including credit cards, savings accounts, loans, and investment options. Through engaging content and storytelling, they can highlight the benefits and features of these financial offerings.
Free Valuable Insights: Global Virtual Influencer Market size to reach USD 37.8 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region witnessed the largest revenue share in the market. Prominent social media platforms are situated within this region. They are being integrated into the marketing strategies of businesses in a variety of sectors, including cosmetics, fashion, and entertainment. Avery, hailing from Canada, and Lil Miquela, hailing from the United States, are both well-known influencers in the region. The increasing significance that consumers attribute to social media, coupled with the heightened attention that brands devote to discovering novel methods of customer targeting, is anticipated to stimulate market expansion in the region.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.3 Billion |
| Market size forecast in 2030 | USD 37.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 38.1% from 2023 to 2030 |
| Number of Pages | 194 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Offering, Type, End-use, Region |
| Country scope |
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| Companies Included | Epic Games, Inc., Dapper Labs, Inc., Pinscreen Inc., Soul Machines Limited, AI Foundation, UneeQ Limited, Didimo, Inc., Spatial Systems, Inc., DeepBrain AI Inc. and REBLIKA |
By Offering
By Type
By End-use
By Geography
The Market size is projected to reach USD $37.8 billion by 2030.
Creation of innovative and immersive content experiences are driving the Market in coming years, however, Intellectual property and copyright issues restraints the growth of the Market.
Epic Games, Inc., Dapper Labs, Inc., Pinscreen Inc., Soul Machines Limited, AI Foundation, UneeQ Limited, Didimo, Inc., Spatial Systems, Inc., DeepBrain AI Inc. and REBLIKA
The expected CAGR of this Market is 38.1% from 2023 to 2030.
The Human Avatar segment is leading the Market, By Type in 2022; thereby, achieving a market value of $24.9 billion by 2030.
The North America region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $14.7 billion by 2030.
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