The use of blockchain technology, increasing use of big data and increasing adoption among older generations present opportunities

DUBLIN, 17 August 2022 /PRNewswire/ — The “Global Online Dating Market: Analysis by Platform (Application and Web Portal), by Services (Social Dating, Matchmaking, Adult Dating and Niche Dating), by Users (Non-Paying Users and Paying Users), by Region, Size and trends with impact of COVID-19 and forecast up to 2027” report has been added ResearchAndMarkets.com’s Offering.

The global online dating market was valued at 12.37 billion dollars in 2021, and is expected to be worth USD 28.36 billion in 2027. Online dating services serve as a platform to connect people with similar tastes and interests. Globally, the proportion of single people has been increasing.

Online dating services are fast and convenient and offer several other benefits, such as tailored search, an expanded dating and social circle, and improved dating skills and prospects. The online dating market is determined to grow at a CAGR of 14.84% over the forecast period 2022-2027.

Market Segmentation Analysis:

• By Platform: The report identifies two segments on the basis of platform: application and web portal. Among the platforms, the application segment dominated the market with a share of over 80% in 2021. Significant youth use of online dating mobile apps contributed to the global market share. In addition, the market has been boosted by the growing global popularity of a number of dating applications such as Tinder, Bumble, Badoo and others. The number of subscribers to these dating apps has increased in recent years. As a result, the increasing number of users demonstrates the increasing popularity of such online dating applications, which also helped to achieve maximum market share.

• By services: The report identifies four segments on the basis of services: Social Dating, Matchmaking, Adult Dating and Niche Dating. By 2021, the social dating market sector has a relatively larger market share of more than 35% due to factors such as instant hookups and non-monogamous partnerships. In addition, social dating uses both free and paid subscriptions as business strategies. In addition to the growing use of dating services among millennials, the availability of smartphones and internet connectivity has also helped dating service companies grow. Moreover, matchmaking is likely to grow at a significant rate during that forecast period. The act of connecting two or more people, usually with the goal of marriage, is known as matchmaking. The procedure involves a service provider helping two people find the ideal match based on characteristics. This segment is expected to grow significantly in the coming years due to the increasing demand for matchmaking services on matrimonial websites, which is fueling the growth of this segment.

• By Users: The report provides a breakdown of the online dating market into two segments based on users: Non-paying users and paying users. The non-paying user segment held the largest share of the market in 2021 and is expected to register the highest CAGR of 12.77% in the market during the forecast period. Tech-savvy young generations have been a primary user of online dating services. They use it primarily for casual dating. These online dating apps connect potential connections based on a simple glance and swipe of a user’s photograph, are easy to navigate, and eliminate standard, time-consuming features on traditional dating sites that can be overwhelming for the user.

• By Region: The report divides the global online dating market into six regions: Asia, Europe, North America, Latin America/The CaribbeanOceania and Africa. Asia accounted for the largest share of around 40% in the global online dating market in 2021. One of the main drivers of market expansion in the region is the growing popularity of online dating services and mobile dating applications among young people. The market’s expansion was also aided by a significant increase in smartphone adoption as well as an increase in digitization in the China and India.

• North America had a significant share in the market. The US is helping the market revenue increase favorably. One of the factors driving the market expansion is the presence of key players such as Tinder, Bumble, Badoo and others.

The story continues

Market dynamics:

Growth drivers

• Increasing Internet users

• Increasing smartphone penetration

• Rising single adult population

• Rapid urbanization

• Changing perceptions of online dating

• Delayed marriage among young people

Challenges

Market trends

The key players in the global online dating market are:

• Match Group, Inc.

• Spark Networks, Inc.

• ProSiebenSat.1 Group

• Bumble Inc.

• Hello group

• Love Group Global Ltd.

• Grindr LLC

• RSVP.COM.AU Pty Ltd

• Coffee meets Bagel

• Cupid Media Pty Ltd

• EliteMate.com LLC

Key topics covered:

1. Summary

2. Introduction

3. Global market analysis

4. Regional market analysis

5. The effect of Covid-19

6. Market dynamics

7. Competitive landscape

8. Company Profiles

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

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SOURCE Research and markets