Online Dating Services Market Size Expected To Reach $ 10,378

0

Online Dating Services Market

The online dating services market size is expected to reach $ 10,378 million by 2026, growing at a CAGR of 4% during the forecast period 2021-2026. Online dating is also referred to as internet dating, which is a platform for finding new people and making connections in order to develop relationships. Online dating services offer digital messaging that helps provide enhanced communication solutions between people. Online dating services are becoming a social trend to increase contacts and find a suitable partner. The increase in the use of internet services and the increase in dating and marriage is the main driver of growth in this market. In addition, the increase in the adult population and the growing internet penetration are expected to further improve the overall demand of the online dating services market for the period 2021-2026.

Full report link @ https://www.industryarc.com/Research/Online-Dating-Services-Market-Research-507129

Online Dating Services Segment Analysis – By Service

The global service based online dating services market can be further segmented into matchmaking, social dating, adult dating, and others. The social dating segment is the major revenue generating segment in 2020. This is due to the increase in instant connection relationships and the increasing availability of internet connectivity which increases the use of dating services among adults. The Matchmaking segment is expected to register the fastest CAGR of 2.2% for the period 2021-2026. This is due to the increase in marriage agreements on matrimonial websites, the increasing demand for matchmaking services and the growth of this segment.

Request sample report @ https://www.industryarc.com/pdfdownload.php?id=507129
Report price: $ 5,900 (single user license)

Online Dating Services Segment Analysis – Subscription

The global subscription based online dating services market can be further segmented into annual, quarterly, monthly and weekly. The quarterly segment registers the highest market share of online dating services in 2020. This is mainly due to the increase in attractive offers to increase the subscription for the growth of the business. Various companies such as Tinder have various offers for the customer opting for a quarterly subscription after more than one iteration, which increases the growth of this segment. The monthly segment is expected to register a CAGR of 1.8% over 2021-2026. This is mainly due to the additional paid feature offerings and lower subscription costs which are increasing the growth of this market.

Online Dating Services Segment Analysis – By Geography

North America has dominated the online dating services market with a major share of 40% in 2020. This is due to the high adoption of online dating services and the growing awareness of appearance among population. According to Online Dating Industry, in the United States around 43 million users are active on different online dating apps in 2020 increasing the growth of this market. However, Asia-Pacific is expected to overtake all regions with the highest CAGR during the forecast period 2021-2026 due to the increase in the adult population and the growing use of smartphones.

Market Drivers of Online Dating Services

Increased use of Internet services

The growing use of internet services is increasing the visibility of various online platforms for dating services, which in turn increases the growth of the online dating services market. In addition, the growing number of the adult population is increasing the use of the internet and, according to the Telecommunications Regulatory Authority, the number of internet subscribers increased from 743.19 million in March 2020, thus increasing the growth of the online dating services market over the period 2021-2026.

Increase dating and marriage

The growing number of dating and marriage is increasing the number of online dating websites and software which increases the growth of the online dating services market. Additionally, social trends and increasing dating and marriages outside of traditional social circles are increasing interracial marriage rates which are contributing to the growth of the online dating services market over 2021-2026.

Impact of COVID:

The COVID-19 pandemic has greatly affected the online dating services market. During the pandemic, there is isolation, blockages, social distancing that creates monotony among people. Thus, the use of smartphones is increasing which increases the conversation in dating apps and has a positive impact on the growth of the market.

Inquiry before buying @ https://www.industryarc.com/reports/request-quote?id=507129

Challenges in the Online Dating Services Market

Increase in fake accounts

The factors which are expected to hamper the growth of the online dating services market is the problem of fake online accounts. In addition, the growing trust issue in initiating discussions which is damaging the reputation of online dating sites is poised to create hurdles for the online dating services market.

Online dating services landscape

Product launches, mergers and acquisitions, joint ventures, and geographic expansions are key strategies adopted by players in the Online Dating Services market. Top 10 Online Dating Services Companies include Coffee Meets Bagel, eHarmony Inc., EliteMate.com LLC, Happn SAS, Love Group Global Ltd., Match Group Inc., Spark Networks SE, Tastebuds Media Ltd., The Bumble Group and The Meet Group Inc.

Acquisitions / Product launches

On March 29, 2020, Tinder Inc. announced that the company has logged over 3 billion swipes, increasing the growth of online dating apps.

Key points to remember

Geographically, in 2020, North America dominated the online dating services market due to the high adoption of online dating services and the growing awareness of appearance among the population.

The increase in the use of internet service and the increase in dating and marriage are likely to contribute to the growth of the online dating services market.

A detailed analysis of the strength, weaknesses, and opportunities of major players operating in the market will be provided in the Online Dating Services Market report.

The rise in fake accounts is expected to create hurdles for the online dating services market.

Associated reports:

A. Contextual Social Media Advertising Market
https://www.industryarc.com/Report/18988/social-media-contextual-advertising-targeted-advertising-market-analysis.html

B. Social Media Security Market
https://www.industryarc.com/Research/Social-Media-Security-Market-Research-500584

For more Consumer Products and Services Market Reports @ https://www.industryarc.com/Domain/11/consumer-products-services-research-consulting-analytics.html

Venkat reddy
Sales manager
Email: [email protected]
Website: https://www.industryarc.com
Telephone: (+1) 970-236-3677

About IndustryARC: IndustryARC primarily focuses on market research on advanced technologies and newer applications. Our personalized research services are designed to provide insight into the constant flow of the gap between global supply and demand markets. Our strong team of analysts allows us to respond quickly to client research needs, with a variety of options for your business. Any other custom requirement can be discussed with our team, email [email protected] to learn more about our consulting services.

This version was posted on openPR.


Source link

Leave A Reply

Your email address will not be published.