Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Online Dating Services Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Online Dating Services Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Online
Dating Services Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Online Dating Services Market is offered. In accordance with the report, the global
Online Dating Services Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Online
dating services are computer and smartphone based and web-based applications
for dating. Such services make use of mobile wallet applications, digital
photo-gallery accessibility and location tracking features to improve the
delivery of services. These services simplify and hastens the flirting process,
chatting process, meeting process and the process of romantic involvement
relative to the traditional process of matchmaking. This helps in connecting
people possessing almost similar traits with the help of algorithm.
Market Drivers
Technological
advancement and its implementation in matching activities is primarily driving
this market. The increasing development of algorithm and its deployment is
driving the growth of the online dating services market.
Internet
penetration and the development of social media coupled with the availability
of smart phones are fueling this market. Smartphones and internet connectivity
has witnessed tremendous penetration in the recent years across less developed,
developing and developed regions which is thriving this market.
The
transitioning lifestyle patterns of the population are bolstering the growth of
this market. Humanity has always driven positive energy from meaningful
connections. Owing to changing habits of the people in general, the initiation
of connections was lost which can be restored by these online services. Through
these online services, the user can search for partners beyond the traditional
circle, social ties. Partners can be chosen on a global basis breaking all
national and racial boundaries. Further, the user can choose accordingly by
matching their hobbies, tastes, likings and disliking.
Changing
communication patterns and the spurring proportion of time spent on
smartphones, laptops and tablets are accelerating the growth of this market.
Users are increasingly trying to detach themselves from monogamous
relationships and becoming absolutely uncompromising with regard to their
desired satisfaction level which is tending them explore further. Communication
between partners have taken new folds in the digitization era which is
augmenting the online dating services market.
Market Restraints
Fraudulent
practices and the vulnerability to romantic scams is hindering the growth of
this market. Women safety norms has been possibly violated according to some
users. Scammers attack, abuse, publish intimate photos and many others which is
impeding the growth of this market.
The
number of fake profiles in online dating services application in on a rise
which is lowering consumer confidence on these services and hindering its
market.
Further,
although with the development of technology these services are gaining
importance, there exists no alternative to person-to-person communication which
is likely to help in a long run. In a short run, these services can be used to
spent time and events. But choosing a partner with whom relationship will last
a lifetime requires more that online dating services which is taking a toll on
this market.
Opportunities
The
implementation of advanced technology complementary to rapidly developing
technology and the incorporation of Artificial Intelligence and Algorithm is
likely to open up new avenues for the online dating services market.
The
hectic daily schedules of the individuals parallel to the changing living
patterns of the population is bringing evolution in the online dating services
which is likely to thrive in the years to come.
Trends
In
terms of age group, the 15-24 years segment dominates the market for online
dating services. However, the 55-64 years age group is expected to gain
traction in the forecast period. In terms of services, the relationship
services hold a significant share of the market. But the Social/Event
networking sites is expected to emerge as the fastest growing segment in the
forecast period. In terms of product, the websites are dominating the online
dating services at present. But the application product is estimated to witness
burgeoning growth in the forecast period. In terms of subscription, the paid
online services are estimated to witness significant growth. The North America
market dominates the market for online dating services owing to the large share
of singles in the US population. Globally, the online dating services market is
projected to grow at a CAGR of 8.26% in the forecast period.
Segment Covered:
This market
intelligence report on the global Online Dating Services Market encompasses market segments based on services, age group,
product, subscription, and country.
By Services
the global Online Dating Services Market has been divided into:
q Social/Event
Networking Sites
q Relationship
Services
q Niche
Online Dating Services
q Merging
Online Dating Services
q General
Online Dating Services
By Age Group the global Online Dating
Services Market has been divided into:
q 18-24
years
q 25-34
years
q 35-44
years
q 45-54
years
q 55-64
years
By Product the global Online Dating Services Market has
been divided into:
q Apps
q Websites
By Subscription the
global Online Dating Services Market has been divided into:
q Paid Online Dating Services
q Non-Paid Online Dating Services
By country/region,
the global Online Dating Services Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Zoosk
q eHarmony
q Badoo
q Tinder
Inc
q Plenty
of Fish
q OKCupid
q Match.Com
q Elite
Singles
q BlackPeopleMeet
q Bumble
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Online Dating Services Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The study
focuses on the present market trends and provides market forecast from the year
2020-2028. Emerging trends that would shape the market demand in the years to
come have been highlighted in this report. A competitive analysis in each of
the geographical segments gives an insight into market share of the global
players.
Few Recent Developments
Zoosk
In July 2019,
the closure of the acquisition of Zoosk was announced by Sparks Network SE, a
leader in the global dating company market. This acquisition was expected to
make Sparks the second largest dating company located in North America.
Badoo
In May 2018, an
announcement with regard to the incorporation of live video chat and
face-to-face discussion among users in its application.
eHarmony
In November
2018, the launch of AI-based functions that provides suggestions to nudgers to
meet personally after a consistent period of conversation was announced by
eHarmony.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Online
Dating Services Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Online Dating Services Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Online Dating Services caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Online
Dating Services Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Online Dating Services Market
v
Identification
of key factors driving investment opportunities in the Online Dating
Services Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants