India’s surging influencer marketing industry to hit US$ 404 million (Rs. 3,375 crore) by 2026.

With the rapid evolution of the digital landscape, India's influencer marketing industry is on the brink of exponential growth. Recent projections reveal a significant surge, with three-quarters of brand strategies prioritizing influencer marketing as a pivotal component. Anticipated to grow by 25% in 2024, reaching US$ 281 million (Rs. 2,344 crore), this dynamic sector is forecasted to expand further, soaring to US$ 404 million (Rs. 3,375 crore) by 2026.

According to a report by professional services network EY and Big Bang Social, 56% of brands have already invested more than 2% in influencer marketing, and 70% of brands intend to maintain or increase their influencer marketing budget in 2024, with half planning to increase it by up to 10%. The report highlights that 71% of brands engage with influencers on a fixed fee model, while 29% explore performance-linked models to drive influencer accountability. Moreover, 77% of influencers reported income growth in the past two years, with 86% expecting a 10% increase over the next two years. This anticipated growth underscores influencers' profound impact on the digital landscape, presenting vast opportunities for brands and marketers.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.