A latest report from Absolute Markets Insights covers insights into the global Online Dating market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Online Dating market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Online Dating report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Online Dating report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
Some of the major players operating in the global Online Dating market include: 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.
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.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Online Dating Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Online Dating Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Online Dating Market before evaluating its feasibility.
Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Online Dating Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Online Dating Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Online Dating market?
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.
Global Online Dating Market Segmentation:
Online Dating Market By End-Users (Male, Female, Others); By Platform (Web-Based, App-Based (Android, IOS, Others)); By Pricing (Fremium, Subscription); By Age Group(18- 29 Years, 30 – 49 Years, 50 – 64 Years, Above 65 Years); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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