Based on Demographics, the market is bifurcated into Adult, and Baby Boomer. Among millennials, about 30% of the people have said that they find their partner through online dating sites. Also, some young people are focused on their goals and prefer non-monogamous relationships over committed relationships. This is the reason that dating services are quite popular among people aged 18-35. This market is a now a $1 billion business in the U.S., with online dating services soaring in popularity since 2001 and representing nearly 50% of the market’s value. The Web has revolutionized this business and has brought affordable and convenient matchmaking to the masses.

The global online dating market size was valued at USD 9.65 billion in 2022 and is projected to register a compound annual growth rate of 7.4% from 2023 to 2030. The significant growth in the popularity of online dating apps such as Tinder Match Group and others across the young population is one of the major factors that propel the market growth during the forecast period. Social networking sites are now playing a crucial role in navigating and documenting romantic relationships among people, which further encourages the use of online dating apps and portals. Moreover, the growing smartphone user base coupled with rising internet penetration further provides ample opportunity for the growth of the market. However, the increasing online fraud and data breaches through dating apps are projected to hinder market growth. The global online dating market size was valued at USD 8.9 billion in 2021 and is projected to grow at a compound annual growth rate of 6.9% between 2022 and 2030.

Momo is a Chinese company that operates its Momo mobile application both for social and entertainment purposes and Tantan a social and dating app targeted mostly to young users online. It is a mid-cap stock with a market capitalization of about $3.7 billion. And it seems to be cheap, with a P/E ratio (trailing-12-month) of just 9.8. Spark Networks is also a company with a variety of online dating sites and known dating platforms such as Zoosk, EliteSingles, eDarling, JSwipe, SilverSingles. Recommended ethics/precautions consumers should take before signing contracts, screening procedures, entry of large corporations to the business , why demand is growing for dating services, singles demographics.

Researches said those that struggle with mental health issues may use dating apps as a coping mechanism. As dating apps have become more effective around the world, online dating has gradually evolved into a global phenomenon. Deeper understanding of users and enhancing of user interaction will help apps to achieve a huge success in the dating industry in China.

A since-deleted 2017 blog post on the dating app Hinge’s official website explained an experiment conducted by a Hinge engineer, Aviv Goldgeier. Using the Gini coefficient, a common measure of income inequality within a country, and counting “likes” as income, Goldgeier determined that men had a much higher Gini coefficient than women. With these results, Goldgeier compared the “female dating economy” to Western Europe and the “male dating economy” to South Africa. This is, obviously, an absurd thing to publish on a company blog, but not just because its analysis is so plainly accusatory and weakly reasoned.

By the end of that year, around 77 percent of adult online users reported having gone on a date with someone they had met online. It was also found that dating platform or app usage was more popular with male internet users, while female users generally witnessed more negative behavior from their chat partners. Companies that are able to take advantage of the growing popularity of smartphones, with many operators solely providing services via mobile applications.

Global Online Dating Application Market Segmentation

This does not include users of mobile dating apps, which will be discussed in the next section of the report. Since 85% of the population now goes online, that means that one out of every ten Americans (9%) has used an online dating site at one point or another. Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.

Popular Dating Site Niches: Opportunities for Growth

The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market. As per CompareCamp, there would be 35.4 million paying and non-paying dating app users by 2024 in the US only. Those who have travelled between metros and small towns over the last few months also speak of differences in how the apps are used. Profiles often hide real identities, especially for women, highlighting a lingering stigma and trust deficit with online dating. “Instead, there are bios with Rajputini, Jat and other caste labels similar to what we see on the back of cars.

Some of the more widespread trends which arose during 2022 include:

And is expected to continue its dominance during the forecast period. Free applications offer limited features and charge a subscription fee for premium features, as subscription fees vary depending on the apps. Paid subscriptions include unlimited likes and swipes, no ads, and read receipts.

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Statistics for the 2023 Global Online Dating Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Online Dating Services analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download. AI and machine learning technologies are rapidly transforming the dating site market by providing more accurate and personalized matches for users.

Prominent players like Tinder and Bumble all have their roots in North America. Further, in North America, the U.S. accounted for the highest share of about 58 percent in the year 2022. In terms of growth, Canada is expected to grow at the fastest rate at an anticipated CAGR of 7.3% during the forecast period.

Grindr made some changes to its existing features, which included Video Chat, available free to all users. It also shared a COVID-related sexual health guide developed by the City of New York to help users to understand viral transmission risks. Several companies have introduced new features keeping the pandemic scenario in mind. Some of the special features of the pandemic include a virtual badge that shows people an open virtual dating site, a vaccinated person badge, video calls, chat gamification and so on.

The most important key figures provide you with a compact summary of the topic of “Online dating in the United States” and take you straight to the corresponding statistics. We can customize every report – free of charge – including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts https://hookupgenius.com/interracialcupid-review/ for start-ups & universities. Nearly all countries have imposed lockdowns and strict social distancing measures. Since the COVID-19 virus outbreak in December 2019, the epidemic has spread to nearly every country across the globe with the World Health Organization announced coronavirus disease 2019 (COVID-19) as a pandemic.