New York, May 08, 2023 (GLOBE NEWSWIRE) — The online dating market size is projected to surpass around USD 23.8 billion by 2032 from USD 10.1 billion in 2022 and it is poised to reach a registered CAGR of 9.2% from 2023 to 2032.
The online dating market has been experiencing significant growth in current years. The process typically involves individuals making a profile on a dating website or app and fulfil information about themselves, including their interests, hobbies as well preferences. The platform then uses algorithms to match users based on their compatibility with one another. Users can browse through potential matches and communicate with each other through messaging systems or other features offered by the platform.
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Key Takeaway:
- By platform, the application segment held the largest market share in 2022.
- By services, the social dating segment held the largest market with a 37% share.
- By user, the non-paying user segment held the largest market share in 2022.
- By revenue generation, the social dating segment held the largest market with a 65% share.
- In 2022, Asia Pacific dominated the global online dating market with a 42.3% market share.
- North America is anticipated to have the highest CAGR among all the regions.
Factors affecting the growth of the Online dating market
There are a few factors that can affect the growth of the online dating market, including:
- Busy lifestyles: With growingly busy lifestyles and less time for traditional socializing, more people are turning to online dating to meet potential partners.
- Advanced technology: As online dating platforms continue to improve their algorithms and user experiences; they may recent more appealing to a vast range of users.
- Increased social acceptance: As online dating comes more mainstream and socially accepted, the stigma associated with it may diminish, leading to increased adoption.
- Demographic shifts: Changes in demographic trends like an aging population or an increase in single-person households, can also impact the growth of the online dating market.
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Top Trends in the Online Dating Market
With the rising use of smartphones, online dating platforms are adopting a mobile-first approach. This means that the user experience is optimized for mobile devices, with features like swiping and location-based matching forthcoming more prevalent. Owing to the COVID-19 pandemic, virtual dating has become more popular. Online dating platforms are offering virtual dating services, including video dates and virtual events, to help users connect safely & conveniently. Online dating platforms are increasingly using data and AI to provide personalized matches and recommendations to users. This can help to improve the user experience and increase the chances of finding a compatible partner.
Market Growth
Increased smartphone and internet usage, shifting societal perceptions of dating, and rising acceptability and appeal of online dating services are all factors propelling industry expansion. In addition, technological developments like artificial intelligence and machine learning are enhancing the user experience and enabling more fruitful matches, which are predicted to further propel market expansion.
Regional Analysis
42.3% of the worldwide market for online dating was in the Asia Pacific. A big and expanding population, rising smartphone penetration, and shifting views about online dating are all contributing to the rapid growth of the Asia Pacific online dating market. The market is quite fragmented, and there are several local firms operating in various nations. With a high adoption rate and a wide selection of online dating platforms accessible, the North American online dating market is also significant on a global scale. Major firms like Match Group, eHarmony, and Bumble compete fiercely for customers in this sector.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 10.1 billion |
| Market Size (2032) | USD 23.8 billion |
| CAGR (from 2023 to 2032) | 9.2% |
| Asia Pacific Revenue Share | 42.3% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
People may now contact one another more easily online thanks to the quick advancement of technology. This includes a rise in smartphone usage, which has increased consumer accessibility and convenience for mobile dating apps. Because more individuals lead busy lives, they have less time for conventional dating strategies. A handy approach to meeting new people without the time and effort required for more conventional dating techniques is online dating. People are increasingly likely to come from varied origins and have a variety of interests as the globe becomes more globally interconnected. Internet dating offers a platform for bringing individuals together from all over the world and fostering romantic relationships.
Market Restraints
Users’ primary worries with online dating sites are safety and security. Users may be put off from utilizing these sites by the possibility of identity theft, fraud, and scams. It might be difficult to establish trust among users in the online dating industry. Users can be reluctant to meet in person or provide personal information, which might restrict the chance for relationships to blossom. It may be challenging for people to join the online dating industry in some areas due to restricted access to technology and the internet. The potential user base for online dating systems may be constrained as a result.
Market Opportunities
With the advent of video dating, the online dating industry has the chance to provide users with a more engaging and dynamic experience. This can promote greater relationships and the development of trust between people. The COVID-19 epidemic has increased the popularity of virtual dating, giving online dating companies the chance to create and promote virtual dating services to consumers. This can provide a simple and secure way for individuals to connect and develop relationships. Artificial intelligence has the potential to enhance matching and offer consumers more precise and pertinent matches on online dating sites.
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Report Segmentation of the Online Dating Market.
Platform Insight
In the worldwide online dating industry, the application category is the most profitable. In 2022, the platform type will account for 81% of all income in the online dating market. Mobile devices, such as smartphones and tablets, are optimized for the usage of mobile apps. With these applications, users may use the online dating service from any location with an internet connection. These apps can be downloaded and installed straight into a user’s mobile device. On the other hand, a desktop or laptop computer’s web browser is used to visit web portals.
Services Insight
With a projected revenue share of 37%, the social dating category is predicted to be the most lucrative in the worldwide online dating industry. Online dating services that let users connect and meet new people for casual dating, friendship, or companionship are included in the social dating section. These websites often have a big user base and let people create profiles, look for prospective matches based on factors like age and geography, and chat or message other people. Online dating services that utilize algorithms or human matchmakers to pair users with possible companions based on compatibility and common interests are included in the matchmaking sector.
User Insight
The most lucrative section of the worldwide online dating business is non-paying users. Non-paying users are those who utilize the online dating site without paying a membership or subscription cost. Basic services like creating a profile, perusing other users’ profiles, and sending a certain number of messages are normally available to non-paying users. They could not, however, have access to more sophisticated functions like limitless chatting, sophisticated search filters, or the capacity to observe who has visited their profile.
Revenue Generation Insight
With the biggest revenue share of 65% throughout the course of the forecast period, the subscription category is anticipated to be the most lucrative one in the worldwide online dating market. Those that wish to use all the features and services that the online dating site has to offer pay a monthly fee. Depending on the service, users may be paid on a monthly, quarterly, or annual basis. Online dating businesses that provide more sophisticated features and a higher level of personalization frequently employ subscription-based revenue structures.
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Market Segmentation
Based on the Platform
Based on Services
- Social Dating
- Niche Dating
- Matchmaking
- Adult Dating
Based on the User
- Non-Paying Users
- Paying Users
Based on Services
- Subscription
- Advertisement
By Geography
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The online dating market is highly competitive, with more players operating in the industry. For example, Match Group is the biggest player in the online dating market, with a market share of around 30%. The company operates a few popular platforms, including Tinder, Match.com, and Hinge.
Some of the major players include:
- Tinder
- Bumble Inc.
- Grindr LLC
- eHarmony Inc.
- Spark Networks Inc.
- The Meet Group Inc
- com.au Pty Ltd.
- Coffee Meets Bagel
- Cupid Media Pty Ltd.
- Elite Singles
- The League App Inc.
- Other Key Players
Recent Development of the Online Dating Market
- In February 2022, Bumble introduced plans to launch a new feature called “Bumble BFF+” which will allow users to find friends with shared interests.
- In January 2022, Match Group published that it had completed its acquisition of Hyperconnect, a social discovery and video technology company.
- In November 2021, Tinder launched a new feature called “Explore” which allows users to connect with people from around the world.
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