DUBLIN–(BUSINESS WIRE)–The “Online Dating Services Market – Forecasts from 2020 to 2025” report has been added to ResearchAndMarkets.com’s offering.
The online dating services market was valued at US$3.874 billion in 2019. Online dating refers to a system that enables the users to connect through online platforms and introduce and find potential connections, generally for further development of relationships. The major factors supplementing the market growth of online dating services include the rising internet penetration, especially across the major developing economies of the region coupled with the rapid integration of technology which has led to an upsurge in the usage of smartphones.
The increasing millennial population around the globe along with the shifting preferences of users to meet new people through these platforms for building various kinds of relationships such as casual, social, niche and others is further widening up the opportunities for the market to grow in the near future. The inclination of the users to build relationships to meet like-minded people has also led to an upsurge in the demand for online dating services in the recent years.
Rapid innovation in service offerings is driving the market growth
The growing consumer expectations have led to constant participation by the key market players to develop and deliver new and customized services to their users further shows the potential of the online dating services market to grow in the near future. For instance, during the year 2018, eHarmony, a leading online dating website based out of the United States of America announced the launch of its AI-enabled functionality that will automatically suggest the nudgers to meet personally after they have chatted for a considerable period of time.
Rapid penetration of smartphones and mobile devices
The major factor supplementing the online dating services market growth includes the burgeoning penetration of smartphones and other portable computing devices such as tablets and laptops among others. The deep penetration of smartphones across both the developed and developing economies is boosting the demand for online dating services as the majority of the applications work on real-time based locations. This further enables the user to expand his or her geographic reach and further interact with people at different locations. As per the data from the World Bank Group, the penetration of mobile phones is highest in Europe, followed by North America and Asia Pacific region.
- Tinder Inc.
- Badoo Trading Limited
- Spark Networks SE
- Grindr LLC
- The Meet Group
- eHarmony, Inc.
- Love Group Global Ltd
Recent outbreak of Novel Coronavirus Disease
The recent outbreak of the novel coronavirus is projected to boost the demand for online dating services, especially during the short run. The World Health Organization has declared the outbreak as a pandemic as it is difficult to contain. Thus, numerous directives such as social distancing and enforcement of quarantine measures and lockdowns in some highly affected countries are expected to amplify the adoption of these services during the period of the next six to eight months. This can be backed up by the fact that a huge number of users are signing up during this time of the pandemic. As in a press release Tinder Inc., announced that the company recorded around more than 3 billion swipes on 29 March 2020, which was considered as the highest figure on a single day that the company has recorded in its history until now.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Online Dating Services Market Analysis, By Service Type
5.2. Casual Dating
5.3. Social Dating
6. Online Dating Services Market Analysis, By Subscription Model
6.2. Weekly Subscription
6.3. Monthly Subscription
6.4. Quarterly Subscription
6.5. Half Yearly Subscription
6.6. Yearly Subscription
7. Online Dating Services Market Analysis, By Gender
8. Online Dating Services Market Analysis, By Age Group
8.2. Below 20
8.5. Above 41
9. Online Dating Services Market Analysis, By Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yl1t7a