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Increase in number of singles and unmarried individuals and easy accessability to dating services and platforms globally are some key factors driving market
VANCOUVER, BC, CANADA, July 13, 2022 /EINPresswire.com/ -- The global dating services market size is expected to reach USD 13.97 Billion in 2028 and register a revenue CAGR of 7.3% over the forecast period, according to the latest report by Emergen Research. Various factors such as increasing number of singles and unmarried individuals in countries across the globe and rapid adoption of dating platforms to look for compatible partners are expected to drive global dating services market revenue growth during the forecast period.
Human beings understand the need to develop intimate relationships, but finding a compatible partner continues to prove difficult. These challenges are currently being addressed by creativity using various technologies, smartphones, computers and PCs, and increasing use of Internet services and interactive platforms and apps. Easy subscription and availability of Internet services are also driving rising preference for online dating solutions in developing countries. To individuals seeking others for dating, these platforms are enabling access to a large social network, access to more user-friendly interface, and location-based real-time dating. The dating services business is poised to witness major income potential, owing to rapid growth of social media platforms and increasing usage of smartphones and other mobile devices.
The rate of Internet penetration has increased substantially during the previous two decades in all major countries worldwide. Customers now have simple access to a variety of information and social networking sites. Rising use of Internet services has also boosted the prominence of numerous online dating sites. These online dating services and platforms give instant matches between suitable couples based on their lifestyle and viewpoints, making it easier for users to find their ideal match in a short period of time. The lucrative services offered by various online dating service providers result in a larger rate of target clients subscribing or registering, which is supporting global market revenue growth.
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Fraudulent actions as well as major privacy and security challenges pose a threat to the sector. The popularity of numerous online dating sites has resulted in major increase in the number of subscriptions over the last two decades. Users globally have been generating online dating profiles since the introduction of services such as Match.com, Tinder, OkCupid, and others. However, not all of the accounts generated are authentic. The problem of fake online accounts has worsened the scenario, making it difficult for real-time users to know whom to trust when initiating conversations. Furthermore, these incidents taint the image of online dating platforms and impact credibility, and these among other factors, expected to impact revenue growth of the global dating services market.
A few of the leading players operating in the Dating Services market research report are:
Badoo, Eharmony, Inc., Grindr LLC, Love Group Global LTD., Match Group, Inc., RSVP.COM.AU PTY LTD., Spark Networks SE, Spice of Life, The Meet Group, Inc., and Zoosk, Inc.
The report primarily sheds light on the Dating Services essentials, such as definitions, arrangements, applications, and review of the industry, discussing the product offerings, producing forms, pricing assessment, and feedstock, among others. The Dating Services report investigates the global landscape by conducting an economy-wide assessment, along with a comprehensive study involving product costing, drivers and restraints, production, distribution, demands, and year-on-year growth rate.
Extent of the research:
Segments Covered in this report are:
Type Outlook (Revenue, USD Million, 2018–2028)
Online
Traditional
Demographics Outlook (Revenue, USD Million, 2018–2028)
Adult
Generation X
Baby Boomer
Subscription Outlook (Revenue, USD Million, 2018–2028)
Annually
Quarterly
Monthly
Weekly
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Key aspects covered by this study
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Dating Services Market?
How will the Dating Services Market change in the upcoming six years?
Which application and product will take a lion’s share of the Dating Services Market?
What is the Dating Services market drivers and restrictions?
What will be the CAGR and size of the Dating Services Market throughout the forecast period?
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Some key aspects explored in this report are:
In May 2020, Bumble entered into a partnership with Cosmopolitan, with the goal of increasing awareness of its virtual dating service. The initiative was created in association with JUMP, which is the content and relationships hub of Havas Media Group.
Online segment accounted for a significantly large revenue share in 2020 owing to rapid adoption of digital platforms for dating and searching for compatible partners.
Generation X segment accounted for a significantly large revenue share in 2020 due to increasing tendency of finding partners online among members of this generation.
Weekly segment revenue is expected to expand at a rapid rate during the forecast period owing to rapid demand for short term and effective subscription packages.
Adult dating segment is expected to register rapid revenue growth during the forecast period as getting into a commitment and less causal relationships through dating platforms has become a trend.
Market in North America accounted for largest revenue share in 2020 owing to prevalence of a mature market. This is due to increased adoption of online dating services and rising consciousness regarding appearances among population. In recent surveys, it has been observed that a significantly large portion of dating service users belongs to this region.
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Overall, the Dating Services Market intelligence report deduces accurate market estimations by utilizing the principles of Breakdown and Data Triangulation to assess factors like shift in consumer inclination, existent knowledgebase, market valuation, and verified sources. These aspects might play a crucial role in the potential growth of the worldwide sector.
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