Dallas, Texas, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The increasing use of smartphones and the growing global internet penetration are two important factors impacting the growth of the global online dating services market over the analysis period presented. Likewise, it is projected that the growing trend of singles on a global scale will aid in the market's expansion. Websites and dating software will have access to a sizable dating pool. Investor views internet dating services as a lucrative industry, thus fueling expansion. Concurrent cultural changes, such as rising interracial marriage rates, are being brought about by social trends and increased dating and marriage outside of conventional social circles. The problem with false online accounts is one of the problems that are expected to hamper the expansion of the global online dating services market. In addition, a growing lack of trust in starting a conversation, which hurts online dating companies' reputations, is expected to pose challenges for the global online dating services market. This industry is expanding as a result of social changes, more interracial marriages, and dating and marriage outside of traditional social groups.
The estimated value of the global online dating services market is USD 8.34 billion, and it is anticipated to reach USD 12.89 billion by 2028, growing at a CAGR of 6.12% throughout that period.
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Online dating is easy to use, practical, swift and demands little effort. By employing the numerous capabilities offered, one can also restrict the number of persons that have access to their contact information. It is therefore widely utilized, which is boosting global online dating services market expansion. People all across the world are looking for specific qualities in their mates. Similar interests, like-mindedness, and other traits fall under this category. Online dating services are growing in popularity because it makes it easier for them to meet people who share similar qualities. The global online dating services market anticipates the release of new apps as a result of the grouping algorithm's diversification to target people based on their age, race, sexual orientation, and other characteristics. By allowing the portrayal of all of their users, these apps will become more inclusive.
The global online dating services market can be further divided into annual, quarterly, monthly, and weekly subscriptions. The Online Dating Services segments with the biggest market share in 2021 is the Quarterly segment. This is primarily due to more alluring bargains being offered to increase subscriptions for the company's growth.
Report coverage & details:
| Report Coverage | Details |
| Base Year | 2021 |
| Historical Data | 2019-2020 |
| CAGR | CAGR of 6.12% during 2021-2028 |
| Segment Covered | Service, Subscription, Demographics, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Bumble, Match.com, Her, Tinder, OkCupid, Coffee Meets Bagel, Grindr |
With a significant share of 40.01% in 2021, North America dominated the global online dating services market. This is due to the widespread use of online dating services and a rise in general awareness of appearance. In the United States, there will be 43 million active users of various online dating apps in 2020, according to the Online Dating Services Industry, which will contribute to the market's expansion. However, due to the rising adult population and rising smartphone usage, Asia-Pacific is expected to outperform all other areas by posting the greatest CAGR during the forecast period.
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In February 2020, the dating app Plenty of Fish announced the creation of the inaugural Member Pod, a user-led advisory board. To encourage creativity and improve the Plenty of Fish experience, the Member Pod seeks input from a wide range of people.
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Global Online Dating Service Market by Service, 2019-2029 (USD Billion)
• Matchmaking
• Social Dating
• Adult Dating
• Niche Dating
5. Global Online Dating Service Market by Subscription, 2019-2029 (USD Billion)
• Annually
• Quarterly
• Monthly
• Weekly
6. Global Online Dating Service Market by Demographics, 2019-2029 (USD Billion)
• Adult
• Baby Boomer
6. Global Online Dating Service Market by Region, 2019-2029 (USD Billion)
9. Competitive Landscape
10. Company Profiles
11. Appendix
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