Virtual Influencer Market Size, Share & Trends Analysis Report By Type (Non-human, Human), By Offering (Solution, Services), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Virtual Influencer Market Size, Share & Trends Analysis Report By Type (Non-human, Human), By Offering (Solution, Services), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Virtual Influencer Market Growth & Trends

The global virtual influencer market size is expected to reach USD 45.82 billion by 2030, growing at a CAGR of 38.9% from 2023 to 2030, according to a new study by Grand View Research, Inc.Increasing preference from brands to adopt unique marketing strategies that can reach a large potential customer base while generating higher returns on investment is expected to fuel the growth of the market over the forecast period. Moreover, technological progress, particularly in areas such as artificial intelligence and 3D modeling, enhances the realism and functionalities of virtual influencers. With ongoing advancements, it is anticipated that virtual influencers will continue to evolve, becoming increasingly sophisticated and attractive to audiences.

Virtual influencers improve investment returns as they help brands reach out to specific audiences. Brands focus on creating virtual influencers to target specific demographics. They are cost-effective compared to real-life influencers because brands can save on accommodation, travel, and other expenses while working with virtual influencers. In addition, the interactive and immersive experience offered to the audience helps brands build stronger connections with customers, which can augment the market over the forecast period.

Furthermore, virtual influencers provide a higher degree of creative freedom and affordable scalability, which helps to target the right customer. Popular brands, including Prada S.p.A., Puma SE, YOOX Net-a-Porter Group S.p.A., Alibaba.com, and Samsung Electronics Co., Ltd., have developed virtual influencers to promote their products on various social media platforms. In February 2023, Maybelline New York, a cosmetics company, launched their virtual influencer named May to promote their series of Mascara and will assist in future product launches.

Virtual Influencer Market Report Highlights

• Based on type, the human avatar type segment held the largest market share in 2022. This growth in market share is attributed to the increasing demand for more realistic and relatable virtual influencers
• In terms of offering, the services segment is expected to grow at the fastest CAGR of around 40% over the forecast period. This is attributed to the numerous services offered, which include consultancy, analytics & reporting, and social media management, among others
• Based on end-use, the fashion & lifestyle segment held the largest revenue share in 2022. Brands associated with the fashion and lifestyle sectors find virtual influencers particularly appealing
• The North America market captured the highest market share in 2022. The region is home to some popular social media platforms, which is fueling the market growth in the region

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