Global Online Dating Services Market 2020 (Includes Business Impact of COVID-19)

                                          
Global Online Dating Services Market is projected to be valued at US$ XX Mn in 2019 and register CAGR of XX% in the next 10 years. The global online dating services market report has been segmented on the basis of preference, age, gender, subscription, and region, to offer in-depth analysis of the market.

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Overview

Online dating, also known as Internet dating, is a platform which enables people to find and make new connections with individuals having similar interests with an aim to develop romantic relationships.

Market 
Dynamics: Drivers and Challenges

Increasing adoption of smartphones and rising inclination towards online networking platforms to connect with people from different countries usually for making a romantic or sexual connection is expected to drive growth of the market to a significant extent. In addition, increasing number of networking portals for matchmaking, coupled with shifting preference towards new options such as matchmaking sites by parents to search for a fit spouse for their offspring is another key factor expected to support growth of the market in the years to come.

Moreover, millennials are being very conscious when it comes to finding their better halves and consider it very important to take into account the perception of the other person towards certain aspects in life, and check on common liked or dislikes to conclude on compatibility. This is one of the major factors that has driven service providers to offer innovative services in order to match with customers’ expectations.

Furthermore, rising number of single parent, and need for connecting with someone with similar interests and life experiences for casual or adult dating is projected to fuel growth of the target market.

However, increasing number of distrust issues due to wrong information provided on profile may affect credibility and result into low adoption of online dating sites to a certain extent.

Opportunities and Trends

Increasing focus of service providers on collecting identity proof and references for proper background check before the user opens an account can create trust worthiness among users and lead to significant revenue growth opportunities for service providers in the target market.

One of the macro trends observed in the global online dating services market is that key players are focusing on adopting high-end technology for development of apps or websites in order to offer enhanced user experience and sustain in the market with large customer base.

Segment Analysis

By Service Type: -

Among the service type segments, the social dating services segment is estimated to account for comparatively higher revenue share. This can be attributed to increasing preference for social dating specifically by millennials where individuals look for instant hookups, casual dating, or maybe just chatting.

By Subscription Type: -

Among the subscription segments, the quarterly subscription is most preferred currently, which has encouraged major companies to provide lucrative offers for quarterly subscription plan in order to increase the number of subscribers on this plan. For instance, eHarmony and Tinder are among the providers who offer remunerative plans to subscribers opting for quarterly subscription for more than one time.

Analysis, by Region

The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to high adoption of Online Dating Services and related products, coupled with consciousness regarding appearance among population in countries in the region. The market in Asia Pacific is expected to register significant growth rate in terms of revenue in the global market, owing to rising awareness regarding esthetic appeal and increasing spending capacity for personal grooming. Moreover, rapidly growing medical tourism industry in countries such as India in the region is another key factor supporting growth of the Online Dating Services market in the region. The market is Europe is projected to follow the Asia Pacific market in terms of growth.

Company News:

Certain services providers are focusing on building platform using AI to enhance user experience and to provide meaningful suggestions to their users, for instance if they should go on first date with the person they are chatting with online. In 2018 for instance, California-based online dating website – eHarmony – had announced on development of an AI-enabled feature that aids users with suggestions whether they should meet the person they have been chatting with.

In 2018, Badoo, which is a Cyprus-based online dating social network company, announced launch of its new additional live video chat feature that enables users to talk with the other individual face-to-face, before meeting them in person.

Global Online Dating Services Market Segmentation:

Segmentation by Service Type:

Matchmaking
Social Dating
Others (Adult Dating and Niche Dating)

Segmentation by Preference Type:

Free Version
Premium Version

Segmentation by Age:

18 – 25 years
26 – 34 years
35 – 50 years
Above 50 years

Segmentation by Gender:

Male
Female

Segmentation by Subscription:

Annually
Quarterly
Monthly
Weekly