The “Global Online Dating Market: Analysis By Platform (Application & Web Portal), By Services (Social Dating, Matchmaking, Adult Dating & Niche Dating), By Users (Non Paying Users &-Paying Users), By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2027” report has been released.
The global online dating market was valued at US$12.37 billion in 2021, and is expected to be worth US$28.36 billion in 2027. Online dating services serve as a platform for connecting people with similar tastes and interests. Globally, the proportion of single people has been rising.
Online dating services are fast and convenient and provides several other benefits as well such as tailor made 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 forecasted period of 2022-2027.
Market Segmentation Analysis:
- By Platform: The report identifies two segments on the basis of platform: Application and Web Portal. Among the platform, the application segment dominated the market with a share of more than 80% in 2021. The significant use of mobile apps for online dating by young people contributed to the global market share. Additionally, the market has been boosted by the rising global popularity of numerous dating applications like Tinder, Bumble, Badoo, and others. The numbers of subscribers of these dating apps has been increased in the past few years. As a result, the increasing amount of users demonstrates the increasing popularity of such online dating applications, which also helped to drive the maximum market share.
- By Services: The report identifies four segments on the basis of services: Social Dating, Matchmaking, Adult Dating and Niche Dating. In 2021, the social dating market sector has a comparatively larger market share of more than 35% owing to the factors like instant connections and non-monogamous partnerships. Additionally, social dating uses both free and paid subscriptions as its business strategies. In addition to the increasing use of dating services among millennials, the availability of smartphones and internet connectivity has also helped dating service companies to grow. Moreover, matchmaking is likely to grow at a significant rate during the forecasted period. The act of pairing up two or more persons, typically with the goal of marriage, is known as matchmaking. The procedure involves a service provider helping two people find the ideal match based on traits This segment is foreseen to grow significantly in the coming years due to the rising demand for matchmaking services on matrimony websites, which is driving up the growth of this segment.
- By Users: The report provides the bifurcation of online dating market into two segments on the basis of users: Non Paying Users and Paying Users. The non paying users segment held the largest share of the market in 2021, and is anticipated to register the highest CAGR of 12.77% in the market during the forecast period. Tech savvy young generation has been a primary user of online dating services. They primary use it for the purpose of casual dating. These online dating apps pair potential hook-ups based on a mere glance and swipe of a user’s photograph, is easy to navigate and eliminates the standard, time-consuming features of traditional dating sites that can be overwhelming for user.
- By Region: In the report, the global online dating market is divided into six regions: Asia, Europe, North America, Latin America/Caribbean, Oceania 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 increasing 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 a rise in digitalisation in China and India.
- North America held a significant share in the market. The US is helping the market revenue to increase in a favourable way. One of the factors fuelling market expansion is the presence of key players like Tinder, Bumble, Badoo, and others.
- Rising Internet Users
- Increasing Smartphone Penetration
- Rising Single Adult Population
- Rapid Urbanization
- Changing Perception of Online Dating
- Delayed Marriages among the Youth
- Online Dating Scams
- Less Acceptance in Developing Economies
- Use of Blockchain Technology
- Growing Use of Big Data
- Rising Adoption among Older Generation