HomeTechnologyInternetOnline Dating Service Global Market Report 2022: Booming

Online Dating Service Global Market Report 2022: Booming

Dublin, Nov. 18, 2022 (GLOBE NEWSWIRE) — The “Online Dating Services Market – Forecasts from 2022 to 2027” report added ResearchAndMarkets.coms offer.

The online dating services market is expected to grow at a compound annual growth rate of 16.35% to reach a market value of US$14003.837 million by 2027, up from US$4852.758 million in 2020. The key factors driving the market growth of online dating services are the rising internet penetration, especially in the major emerging economies of the region, coupled with the rapid integration of technology, which has led to an increase in smartphone usage.

The increasing millennial population around the world along with the changing preferences of users to meet new people through these platforms for building different types of relationships such as casual, social, niche and others are increasing the opportunities for the market to be in the near future continue to grow future. 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 the service offering drives the growth of the market

Growing consumer expectations have led to continued participation of key market players to develop and deliver new and customized services to their users, proving that the market for online dating services can grow in the near future. For example, in the year 2018, eHarmony, a leading online dating website in the United States of America, announced the launch of its AI functionality that automatically suggests the nudges meet in person after chatting for a considerable period of time. .

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Likewise, companies are expanding the services offered to meet rising consumer needs. This has led to the integration of additional services on their platforms with the aim of attracting more customers and gaining traction in the market. This will also have a positive impact on market growth over the next five years.
Rapid penetration of smartphones and mobile devices

The major factors complementing the growth of the online dating service market include the burgeoning penetration of smartphones and other portable computing devices such as tablets and laptops. The deep penetration of smartphones in both developed and emerging economies is driving the demand for online dating services as most of the applications operate in real-time locations. This further enables the user to expand his or her geographic reach and further communicate with people in different locations.

According to World Bank Group data, mobile phone penetration is highest in Europe, followed by 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 considered to be the fastest in the APAC region, especially in countries like India and China as more and more people access cheap and convenient internet connectivity every day.

The fast-growing internet penetration gives the market an impetus to grow

The widespread availability of faster and cheaper internet has resulted in an increase in the demand for online dating services from the general public. coupled with a rapid increase in smartphone usage, this increases the chances for the market to grow further in the near future. According to the World Bank, the percentage of the population using the internet has 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 emerging economies. For example, in India, the number of fixed broadband subscriptions reached 18,170,000 in the year 2018 from 5,280,000 in the year 2008.

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In addition, in the United States of America, it reached 110,568,000 in 2018 from 84,552,000 in 2010. Therefore, the rapid increase in internet penetration is also expected to be a key factor that will boost the demand for online dating services over the course of the next five year .

Segmentation
By service type

  • casual dating
  • Social dating

By subscription model

  • Weekly subscription
  • Monthly subscription
  • Quarterly Subscription
  • Half-year subscription
  • Year subscription

By gender

By age group

  • Under 20
  • 21-30
  • 31-40
  • Over 40

By geography

  • North America
  • United States
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Italy
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Taiwan
  • Thailand
  • Indonesia

Main topics:

1 Introduction

2. Research Methodology

3. Summary

4. Market Dynamics

5. Market Analysis for Online Dating Services, by Service Type

6. Market Analysis for Online Dating Services, by Subscription Model

7. Market Analysis for Online Dating Services, by Gender

8. Market Analysis for Online Dating Services, by Age Group

9. Market Analysis for Online Dating Services, by Geography

10. Competitive Environment and Analysis

11. Company Profiles

Mentioned companies

  • Tinder Inc.
  • Badoo Trading Limited
  • Spark Network SE
  • Grindr LLC
  • bumble
  • The Meeting Group
  • eHarmony Inc.
  • Okay Cupid
  • Love Group Global Ltd

For more information on this report visit https://www.researchandmarkets.com/r/vx9mxl

        
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