Global Dating Services Market Expected To Reach $ 9.9 Billion By 2026 | Grindr LLC, Love Group Global Ltd., Badoo, eharmony, Inc., The Meet Group Inc – KSU
According to a new report released by Allied Market Research, titled ” Global Dating Services Market By Type, Service and Demographics: Global Opportunity Analysis and Industry Forecast, 2019-2026The global dating services market size was $ 6.7 billion in 2018 and is expected to reach $ 9.9 billion by 2026, registering a CAGR of 5.2% from 2019 to 2026.
Dating services, including online and traditional, are platforms / services through which a person can search, contact and meet to set up a date, usually with the intention of developing a romantic, personal or casual relationship. . The popularity of online dating has increased dramatically since its inception. The dating services market has experienced substantial growth due to the advancement of new virtual dating location technologies, machine learning, and artificial intelligence.
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The overwhelming presence of technology will continue to optimize the process, improvise features and provide the utmost convenience to users. Machine learning and AI are now used to make better matches based on user actions rather than relying solely on stated preferences. Additionally, engaged gamers like Oculusare are using VR technology and offering virtual dating classes to help clients learn how to approach women.
Driven by the growing user base and widespread acceptance of dating apps, social media platforms such as Facebook are now entering the US market to capitalize on growing industry opportunities. At the same time, these companies also face stiff competition from apps like OKCupid, Tinder, and Bumble.
While the dating industry flourishes with the proliferation of niche segments, advancements in technology, and the rendering of unique experiences, the push comes with its own unique challenges. Fraudulent activity, dating scams and data privacy remain key challenges for stakeholders engaged in the market. Concerns about the security of personal data on online dating apps and sites remain one of the main challenges among users. The last few years have seen an exponential increase in data breaches via dating and social media platforms. Notable examples include hacking the credentials of over 32 million registered Ashley Madison users, 20 million email addresses as well as the usernames of Russia-based dating site Topface and around one million personal user details, including sex preferences, income, and personal address of Beautifulpeople dating site. com.
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The global dating services market is segmented by type, service, demographics, and region. Based on the type, the global market is divided into online and offline. Depending on the service, the market is studied through matchmaking, social dating, adult dating, and niche dating. On the basis of demographics, the global market is segmented into Adult and Gen X. With regard to region, the growth of the dating services market is studied in North America, Europe, Asia Pacific, and Asia Pacific. LAMEA.
Key Findings of the Dating Services Market:
- Online segments dominate the global market with over 90% market share in 2018
- In 2018, on a service basis, the matchmaking segment accounted for about a third of the global dating services market trend. However, the social dating segments are expected to experience robust growth with a CAGR of 6.4%, during the forecast period.
- The adult segment, comprised primarily of millennials and millennials, will continue to dominate in terms of income generation during the analysis period.
- North America leads in terms of dating services market share and is expected to gain additional opportunities of approximately $ 819 million during the dating services market forecast.
- In 2018, depending on the region, Asia-Pacific is expected to grow with a robust CAGR of 7.4% during the forecast period.
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Some of the major players operating in the dating services market include Grindr LLC, Love Group Global Ltd., Badoo, eharmony, Inc., The Meet Group Inc., Spice of Life, Match Group, Inc., Spark Networks SE, Zoosk Inc., and rsvp.com.au Pty Ltd, among others.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advisory services to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 verticals including life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverage, energy and power, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense and BFSI.
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