Online Dating Application Market Size Worth $11.03 Billion By 2028: Grand View Research, Inc.
Thursday, November 11, 2021
SAN FRANCISCO, Nov. 3, 2021 /PRNewswire/ -- The global online dating application market size is expected to reach USD 11.03 billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028, according to a new report by Grand View Research, Inc. The proliferation of smartphones and the increasing internet penetration are among the major factors that are expected to drive the growth of this market. The preference for online dating applications has been particularly growing in the wake of the outbreak of the COVID-19 pandemic. Several governments across the world have imposed lockdowns and restrictions on the movement of people and goods as part of the efforts to curb the spread of the coronavirus. Hence, individuals are resorting to online dating applications to connect with people and engage in personal relationships.
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Key Insights & Findings:
-- The subscription segment dominated the market in 2020 and is expected to
retain the leading position throughout the forecast period. While
several dating apps are offering various features for free, many others
offer limited features for free usage and charge a certain amount for
premium features
-- The 18 - 25 years sub-segment is expected to register the second-largest
CAGR of 5.8% over the forecast period. The growth of the segment can be
attributed to the rising usage of smartphones and the internet among
individuals of this age group
-- The male segment dominated the market in 2020 and is expected to remain
dominant over the forecast period. An article published by eHarmony
claimed that men use dating apps more than women
-- North America was the largest regional market in 2020. However, Asia
Pacific is expected to grow at the highest CAGR of more than 6% over the
forecast period
-- The growth of the Asia Pacific regional market can be attributed to the
continued rollout of high-speed data networks that is driving the number
of internet users in the region. Almost 49% of the Asian population or
around 2 billion people in Asia are internet users
Read 152 page market research, "Online Dating Application Market Size, Share & Trends Analysis Report By Revenue Generation (Subscription, Advertisement), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2021 - 2028", by Grand View Research
The growing trend among people, particularly young individuals, to prioritize their career over marriage and live alone also plays a key role in driving the popularity of online dating platforms. Several statistics have already highlighted the growing trend among individuals in different parts of the world to live alone. For instance, in New Zealand and Australia, 1 in every 7 women in their forties has never been married, while in Central and Southern Asia, about 1 in 100 women is unmarried. Data published by the U.S. Census Bureau in 2017 also revealed that almost 31% of the adults in the U.S. were not married and living alone has been emerging as a popular trend in the U.S.
The Japanese government is seeking budget approval for a new, AI-based dating service that can allow singles to find more curated matches. The service envisages leveraging AI systems to perform more sophisticated analysis and help in matchmaking based on various criteria. The Japanese government expects AI-assisted systems to typically help in assessing the preferences furnished by individuals looking forward to adopting "konkatsu", the Japanese concept of marriage hunt, in detail. Such initiatives are expected to drive the market in the Asia Pacific region.
However, concerns over data security and privacy protection are expected to restrain the growth of the market. Hackers are particularly targeting online dating apps to acquire the personal data of individuals, having realized that more individuals are resorting to such applications in the wake of the outbreak of the pandemic. Research conducted by Kaspersky Lab underlined high risks of data exposure associated with dating apps owing to the transmission of unencrypted user data happening over insecure Hypertext Transfer Protocol (HTTP). Data breaches have already revealed personal records, including activity logs, name, gender, age, email addresses, billing, professional, educational, contact, and location among others of several users of various dating apps and websites.
Grand View Research has segmented the global online dating application market on the basis of revenue generation and region:
-- Online Dating Application Revenue Generation Outlook (Revenue, USD
Million, 2016 - 2028)
-- Subscription
-- Age
-- 18-25 years
-- 26-34 years
-- 35-50 years
-- Above 50 years
-- Gender
-- Male
-- Female
-- Type
-- Annually
-- Quarterly
-- Monthly
-- Advertisement
-- Online Dating Application Regional Outlook (Revenue, USD Million, 2016 -
2028)
-- North America
-- U.S.
-- Canada
-- Europe
-- U.K.
-- Germany
-- France
-- Italy
-- Rest of Europe
-- Asia Pacific
-- China
-- India
-- Japan
-- Rest of Asia Pacific
-- Latin America
-- Brazil
-- Mexico
-- Rest of Latin America
-- Middle East & Africa
-- South Africa
-- Rest of Middle East & Africa
List of Key Players of Online Dating Application Market
-- Tinder
-- Bumble
-- Plentyoffish
-- OkCupid
-- Badoo
-- Grindr LLC
-- eHarmony, Inc.
-- Spark Networks, Inc.
-- The Meet Group, Inc.
-- rsvp.com.au Pty Ltd.
-- Spice of Life
-- Zoosk, Inc.
-- The League
-- Coffee Meets Bagel
Browse through Grand View Research's coverage of the Global Next Generation Technologies Industry:
-- Healthcare Mobile Application Market - The global healthcare mobile
application market size is expected to reach USD 348.98 billion by 2027.
It is expected to grow at a compound annual growth rate (CAGR) of 45.0%
from 2020 to 2027.
-- Application Server Market - The global application server market size is
estimated to reach USD 40.96 billion by 2028. It is expected to expand
at a CAGR of 13.2% from 2021 to 2028.
-- B2C E-commerce Market - The global B2C e-commerce market size is
anticipated to reach USD 7.65 trillion by 2028. It is expected to expand
at a CAGR of 9.7% from 2021 to 2028.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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SOURCE Grand View Research, Inc.
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