This Online Dating Market research report contains a complete background analysis of the industry, which includes an assessment of the parental market. All the statistical and numerical that have been forecasted in this report is represented with the help of graphs, charts, or tables which makes this report more user-friendly. This Online Dating Market report contains a thorough description, competitive scenario, wide product portfolio of key vendors, and business strategy adopted by competitors along with their SWOT analysis and porter’s five force analysis. Whether it is about renewing a business plan, preparing a presentation for a key client, or giving recommendations to an executive, this Online Dating Market report will surely help you to a degree.
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In terms of revenue, online dating market was valued at US$ 3056.0 Mn in 2022 and is anticipated to witness a compound annual growth rate of 11.08% over the forecast period. Badoo, Bumble, CoffeeMeetsBagel, eHarmony, Inc., Facebook, Friendfinder California Inc., HAPPN, HER, Inner Circle, LAVALIFE LTD., Lovestruck, Luxy, Magic Lab, Match Group, LLC, MillionaireMatch.com, OkCupid, Parship GmbH, People Media (Chemistry.com), Plentyoffish Media ULC, Tastebuds Media Ltd., Telegraph Media Group Limited, Tinder Inc., Widernet Communications Ltd. (Christian Connection) and Zoosk, amongst others.
Global Online Dating Market:
By Age Group
- 18- 29 Years
- 30 – 49 Years
- 50 – 64 Years
- Above 65 Years
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Online dating platform can be termed as a social communicating tool for searching connections with shared interests or backgrounds for building a personal, romantic or casual relationship. A user has to create a profile on the website or app with his/her descriptive information and photos before they can connect to other people. The platform then analyses this information to display relevant matches. There is a growing demand for online dating applications owing to rising number of internet and smartphone users. The International Telecommunication Union stated in its report of 2019 that the number of internet users increased by 5.3% in 2019, and around 4.1 billion people are part of the internet.
The report published by World Advertising Research Center (WARC) in January 2019 stated that around 3.9 billion people own at least one smart phone. The growing proliferation of internet and smart device users is bringing more users online. The growth in the internet natives has increased the average time people spend online, thus, influencing the social trends, communication habits and the way couples meet. Tech savvy single youths worldwide are inclining towards online dating as it eliminates the initial hesitance in physically meeting an unknown individual. For instance, the average subscribers of Match Group’s dating apps rose by 16% from 7.4 million in 2018 to 8.6 million in 2019. Thus, growing number of single youths, with internet connection and mobile phones, are propelling the growth of online dating market across the globe.
Various frauds that are taking place in online dating are of a major concern amongst the end-users, and is hindering the market growth. There have been multiple cases which report negative experience with online dating platforms. For instance, Jeffrey Marsalis, part of a serial rape case in Philadelphia met his victims through Match.com, online dating platform. Likewise, in the Duyshant Sharma case in India, the murderer used Tinder to meet his victim. According to the statistics released by Greater Manchester area police department in 2017, around 17 cases of rape were reported in four years through the use of online dating apps like Grindr and Tinder. Women are much more likely than men to have had uncomfortable experiences via online dating sites or apps. Also, the misuse of personal information is another concern in online dating market. For instance, a court case was filed against Venntro Media Group Limited’s dating app services regarding the misuse of customer’s personal information in October 2017. To overcome these barriers of fraudulent practices and consumer data protection, states like New York and New Jersey are making efforts to regulate the online dating services by imposing strict data control laws. These legislative transformations, coupled with the increase in background check of users using identify verification, are anticipated to overcome the challenges in the global online dating market in the coming years.
Companies in online dating market are incorporating advanced technologies such as artificial intelligence and AR/VR in their offerings to enhance the user experience and retention rate. Smart algorithms of artificial intelligence makes the partner searching process on dating apps more accurate and personalized. This technology also improves the security of online dating platforms against fraudulent activities. In 2018, Unpack’d Technologies launched Say Allo, an online dating app which uses artificial intelligence to learn user behaviours, interests and physical attraction and recommend compatible matches. The enhancement in user experiences create higher adoption rate of premium accounts, thus accelerating in revenue generation. Hence, the integration of these smart technologies are expected to provide opportunities for the growth of the online dating market during the forecast years.
The recent outbreak of COVID-19 pandemic has imposed restrictions on individuals to stay indoors to prevent the spread of the virus. These measures have positively impacted the growth of online dating platforms, which allows individuals to virtually meet friends and loved ones. For instance, the Match group reported a 15% increase in their subscribers since the onset of the Coronavirus pandemic. The company’s second quarter report states that virtual dating options in the dating apps have encouraged people to pay for premium membership, thus, boosting their revenue. Hence, the COVID-19 pandemic is anticipated to boost the growth of the global online dating market.
Key Questions Answered with this Study
1) What makes Online Dating Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Online Dating market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Online Dating in next few years?
8) What is the impact analysis of various factors in the Online Dating market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Online Dating Market?
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