Dublin, Nov. 18, 2022 (GLOBE NEWSWIRE) — The report “Online Dating Services Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com 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, from US$4852.758 million in 2020 Major factors complementing the growth of the online dating services market include rising internet penetration, especially in major developing economies in the region, coupled with rapid integration of technology, which has driven an upsurge in the use of smartphones.
The increase in the millennial population around the world as well as the changing preferences of users to meet new people through these platforms to establish various types of relationships such as casual, social, niche and others further expand the growth opportunities of the market in the near future. The tendency of users to form relationships to meet like-minded people has also led to an increase in the demand for online dating services in recent years.
Rapid innovation in service offerings is driving market growth
Rising consumer expectations have led to steady involvement of major market players to develop and deliver new personalized services to their users, thus showing the growth potential of the online dating services market in the near future. For example, in 2018, eHarmony, a leading online dating website based in the United States of America, announced the launch of its AI-enabled feature that will automatically suggest nudges meet personally. after talking for a considerable period of time. .
Likewise, companies are expanding the services offered to them to meet the growing needs of consumers. 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 also has a positive impact on the growth of the market to some extent over the next five years.
Rapid penetration of smartphones and mobile devices
Major factors complementing the growth of the online dating services market include 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 driving the demand for online dating services as the majority of apps operate in real-time locations. This further allows the user to expand their geographic reach and interact more with people in different locations.
According to data from the World Bank Group, mobile phone penetration is highest in Europe, followed by North America and the Asia-Pacific region. As a result, the market growth in these regions will be further sustained over the forecast period. Smartphone penetration is considered fastest in the APAC region, especially in countries like India and China, as more and more people have access to easy and cheap internet connectivity every day.
Booming internet penetration gives impetus to market growth
The widespread availability of faster and cheaper internet has led to an increase in demand for online dating services among the general public. coupled with a rapid rise in smartphone usage, further expands the market growth opportunities 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. Simultaneously, the number of households with broadband access has increased significantly in both developed and developing economies. . For example, in India, the number of fixed broadband subscriptions reached 18,170,000 in 2018 from 5,280,000 in 2008.
Moreover, 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 amplifying the demand for services online dating over the next five years. .
By type of service
- Casual encounters
- Social gatherings
By subscription model
- Weekly pass
- Monthly subscription
- Quarterly subscription
- Semester subscription
- Annual subscription
By age group
- Below 20
- Over 40
- North America
- UNITED STATES
- South America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Asia Pacific
- South Korea
Main topics covered:
2. Research methodology
3. Executive Summary
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
- Amadou Inc.
- Badoo Trading Limited
- Spark Networks SE
- Grindr LLC
- The meeting group
- eHarmony, Inc.
- Love Group Global Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vx9mxl
Online Dating Services Market
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