Southeast Asia Influencer Marketing: Market Size and Growth

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Southeast Asia Influencer Marketing: Market Size and Growth

The SEA influencer market is estimated at $6.38 million and by 2024, will be worth an estimated $2.59 billion. The market initially grew at a CAGR of 106.24% within 2014 and 2019.

Southeast Asia Influencer Marketing: Market Size and Growth

  • The South East Asia (SEA) influencer marketing market size for year 2019 is $6.38 million.
  • The average social media penetration in SEA in 2019 is 61%.
  • The "social media usage penetration was highest in Brunei at 94%, followed by Singapore at 79%".
  • For 2022, the SEA influencer marketing market size forecast is $1.48 billion.
  • For 2023, the SEA influencer marketing market size forecast is $1.96 billion.
  • For 2024, the SEA influencer marketing market size forecast is $2.59 billion.
  • The CAGR of the Southeast Asia influencer marketing market 2014 to 2019 is 106.24%.

Research Strategy:

To answer this request, we consulted global statistics regarding the market size and growth of influencing marketing and scaled it down to Southeast Asia. To arrive at our response, we made the assumption that the Southeast Asian share of the global social media penetration also represents the regions share in the global influencer marketing market size, and that the SEA percentage share of the global marketing industry size in 2019 also applies for the year 2024.
We made the following triangulation to calculate the 2019 marketing market size for the Southeast Asian (SEA) influencer market:
To calculate the Southeast Asia (SEA) influencer marketing market size 2019;
  • Population of the Southeast Asia in 2019 = 662,011,806 people
  • Average social media penetration in SEA 2019 = 61%
  • SEA total addressable market = 0.61 * 662,011,806 = 403,827,201.66 people
  • Global social media penetration 2019 = 3.48 billion people
  • Global influencer marketing industry market size 2019 = $5.5 billion
  • Percentage of SEA in the global marketing industry market size 2019 = (403,827,201.66/3.48 billion) * 100 = 11.6%
  • SEA influencer marketing market size 2019 = (0.116 * $5.5 billion) = $638,000,000 = $6.38 million

Calculating the forecast of its growth for the next 3-5 years:
  • Global influencer marketing industry size forecast 2024 = $22.3 billion
  • Since the SEA region shares in the global market, the CAGR for the SEA influencer marketing market is the same as the global influencer marketing market CAGR = 32.4%
  • Since the SEA region has an 11.6% share in the global marketing industry, we calculated the SEA influencer marketing market size for the next 3 to 5 years using a CAGR calculator as thus:
  • For 2024, the SEA influencer marketing market size forecast = (0.116 * $22.3 billion) = $2,586,800,000 = $2.59 billion
  • For 2022, the SEA influencer marketing market size forecast = $1,480,759,862.91 = $1.48 billion
  • For 2023, the SEA influencer marketing market size forecast = $1,960,526,058.50 = $1.96 billion

We calculated the CAGR of the market from the last 5 years:
  • According to Statista, the global social network penetration in 2014 = 64.8%
  • Global population 2014 = 7,295,290,765 people
  • Therefore, the global social network penetration in 2014 = 0.648 * 7,295,290,765 = 4,727,348,415.72 people
  • SEA social media penetration in 2014 = 161,996,000 people
  • Percentage share of SEA in the global marketing industry size 2014 = (161,996,000/4.727 billion) * 100 = 3.42%
  • Global influencer marketing industry size 2015 = $500million
  • Assuming that Southeast Asia's share of the global social media penetration also represents the region's share in the global influencer marketing market size:
  • SEA 2014 influencer marketing market size = (0.342 * 500 million) = $17,100,000.
  • We used a CAGR calculator to find the SEA influencer marketing market growth CAGR from 2014 to 2019 = 106.24%
Additionally, we were unable to find the exact global influencer marketing market industry size for the year 2014 as no such data was available. We made use of 2015 data on the basis that the influencer marketing market was still on the rise in 2014 and, as the source indicates, the 2014 figure would not have varied so much from the 2015 figure.
Sources
Sources