Online Dating Market: Current Analysis and Forecast (2022-2028)

Global Online Dating Market is expected to grow at a significant rate of around 6.8% during the forecast period. Online dating-also referred to as Internet dating, virtual dating, or mobile app dating-is a relatively new practice in which individuals utilize the internet to look for and communicate with potential romantic or sexual partners. The popularity of online dating applications, rising smartphone usage, and increased internet penetration are all likely to contribute to the online dating market growth. However, it is anticipated that rising online fraud and data breaches caused by dating apps will impede industry expansion.

Bumble, Coffee Meets Bagel, Cupid Media Pty Ltd, eharmony Inc., EliteSingles, Match Group (Tinder), rsvp.com.au Pty Ltd, Spark Networks SE, The League, and The Meet Group are some of the key players in the online dating market. The market is diversified with a large number of global and regional market players. The market players are following both organic and inorganic growth strategies to sustain the competitive edge. For instance, in March 2020, Tinder Inc. announced that the company recorded more than 3 billion swipes led to increased growth of online dating apps. Similarly, in February 2020, the Dating app Plenty of Fish announced the industry's first Member Pod, an advisory council comprised of real users. The main idea or goal of the Member Pod is to obtain feedback from a diverse range of people to foster innovation and development and enhance the Plenty of Fish experience.

Insights Presented in the Report:

"Amongst platform, software online dating category is anticipated to witness higher CAGR during the forecast period"

Based on the platform, the market is segmented into application and web portals. The application segment led the online dating market with a larger revenue share of more than 80% in 2021. The market share was boosted by the rising global popularity of apps like Tinder, Bumble, Badoo, and others. For instance, the average Tinder user base increased to 10.4 million in 2020 from 7.9 million in 2018. Therefore, the increasing number of subscribers demonstrates the growing popularity of such online dating apps, which further contributed to the highest market share.

"Amongst revenue generation, the subscription segment accounted for the largest revenue share in 2020"

Based on revenue generation, the market is divided into subscription and advertisement. The subscription segment accounted for the largest revenue share of more than 62% in 2020 and is also anticipated to continue its dominance during the forecast period (2022-2028). Applications that are available for free have a limited feature set and require a subscription to access premium features. As a result, the majority of users use subscription-based access to the features. Unlimited likes and swipes, no advertisements, and read receipts are included in paid subscriptions.

"North America to hold a significant share in the online dating market"

North America dominated the online dating market with a share of more than 35% in 2020. This can be attributed to the region having reputable online dating services. Additionally, the presence of leading market players in the region is also expected to contribute to market growth, such as, EliteSingles, Spark Networks, Inc., Bumble Inc., and eHarmony, Inc., among others.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional and country-level analysis of the industry.

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