Dublin, Nov. 18, 2022 (GLOBE NEWSWIRE) — The “Online Dating Services Market – Forecasts 2022 to 2027” report has been added. ResearchAndMarkets.com offer.
The online dating services market is projected to reach a market value of USD 14,003,837 million by 2027, from USD 4,852,758 million in 2020, at a CAGR of 16.35%. The penetration of the internet, especially in the region’s major developing economies, has led to an increase in the use of smartphones, along with the rapid integration of technology.
The growing millennial population all over the world and changing preferences of users to meet new people through these platforms to build different types of connections like casual, social, niche and others further expands the market’s growth opportunities in the near future. will come. The tendency of users to build relationships to meet like-minded people has also led to an increase in demand for online dating services in recent years.
Rapid innovation in service offerings is driving market growth
Rising consumer expectations have led to the constant involvement of major market players to develop and deliver new and personalized services to their users, further demonstrating the growth potential of the online dating services market in the near future. For example, in 2018, eHarmony, a leading online dating site based in the United States of America, announced the launch of an AI-powered feature that will automatically suggest in-person meetings after long chats. .
Similarly, companies are expanding the services offered to them to meet growing consumer needs. This has led to the integration of additional services on their platforms in order to attract more customers and gain traction in the market. This has a certain positive effect on the growth of the market over the next five years.
Rapid penetration of smartphones and mobile devices
Major factors complementing the growth of the online dating services market include the increasing penetration of smartphones and other portable computing devices such as tablets and laptops, among others. The deep penetration of smartphones in both developed and developing economies is fueling the demand for online dating services, as most applications operate in real-time environments. This allows the user to expand their geographical reach and further communicate with people in different locations.
According to the World Bank Group, mobile phone penetration is highest in Europe, North America and the Asia Pacific region. As a result, market growth in these regions will be further supported during the forecast period. Smartphone penetration is fastest in the APAC region, especially in countries like India and China, as more and more people have access to cheap and easy internet.
The rapid spread of the Internet is driving the growth of the market
The widespread availability of faster and cheaper internet has resulted in increased demand for online dating services among the general public. coupled with the rapid increase in smartphone usage further expands the market’s growth opportunities in the near future. According to the World Bank, the percentage of the population using the Internet increased from 6.77% in 2000 to 49,723% in 2017. At the same time, the number of households with broadband access has increased significantly in both developed and developing economies. For example, the number of fixed broadband subscribers in India increased from 5,280,000 in 2008 to 18,170,000 in 2018.
In addition, in the United States, the number increased from 84,552,000 in 2010 to 110,568,000 in 2018. Therefore, rapid growth in internet access is predicted to be a major factor driving the demand for online dating services over the next five years. .
By type of service
- Casual Dating
- Social Dating
According to the Subscription Model
- Weekly Subscription
- Monthly Subscription
- Quarterly Subscription
- Semi-Annual Subscription
- Annual Subscription
By Age Group
- Below 20
- Over 40
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Key topics covered:
2. Research Methodology
4. Market dynamics
5. Online Dating Services Market Analysis, By Service Type
6. Online Dating Services Market Analysis By Subscription Model
7. Online Dating Services Market Analysis, By Gender
8. Online Dating Services Market Analysis, By Age Group
9. Online Dating Services Market Analysis, By Geography
10. Competitive Environment and Analysis
11. Company Profiles
- Tinder Inc.
- Badoo Trading Limited
- Spark Networks SE
- Grindr LLC
- Meet Group
- eHarmony, Inc.
- Love Group Global Ltd
For more information on this report, visit https://www.researchandmarkets.com/r/vx9mxl
Online Dating Service Market