Increase in single and unmarried population across the globe, rise in inclination toward non-monogamous relationships, and surge in social media marketing to promote several facilities offered are expected to propel the growth of the global online dating services market
PORTLAND, Oregon, April 15, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Online Dating Services Market by Service (Matchmaking, Social Dating, Adult Dating, and Niche Dating), Subscription (Annually, Quarterly, Monthly, and Weekly), and Demography (Adult and Baby Boomer): Global Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, the global online dating services market was pegged at $6.69 billion in 2018 and is projected to reach $9.20 billion by 2025, registering a CAGR of 4.7% during the period 2018–2025.
Increase in adult population accounting for single and unmarried people, lucrative options offered by online dating services, and increase in inclination toward non-monogamous relationships have boosted the growth of the global online dating services market. However, existence of fraudulent accounts and large number of unpaid customers, satisfied with limited access and feature hamper the market growth. On the contrary, increase in social media marketing to promote online dating services and rise in millennial population are expected to create lucrative opportunities in the near future.
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Social dating segment held largest share
The social dating segment dominated the market in 2018 in terms of revenue, contributing more than one-third of the total market and is expected to continue its dominance throughout the study period. However, the adult dating segment is estimated to register the fastest CAGR of 5.4% during the forecast period. The other segments such as matchmaking and niche dating are also analyzed in the report.
Annually subscription segment to manifest fastest growth by 2025
The annual subscription segment is expected to portray the fastest CAGR of 5.1% during the study period, owing to increase in disposable income of customers and rising popularity of dating services. However, the quarterly segment held the largest share in 2018, contributing about one-third of the total market, as it is the most preferable and economic type of subscription. The other segments such as monthly and weekly subscription are also analyzed in the report.
Adult segment to create huge opportunities through 2025
The adult segment held the largest share in 2018, contributing more than two-thirds of the total market share. Moreover, the segment is expected to register the fastest CAGR of 4.9% during the forecast period, owing to customer's preference for non-monogamous relationships and rise in number of singles among the population. The report includes an analysis of another segment of baby boomers.
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Asia-Pacific segment to portray fastest growth by 2025
The Asia-Pacific region is projected to manifest the fastest CAGR of 5.6% through 2025. However, the North America region held the largest share, contributing nearly two-fifths of the total market. The report also includes analysis of other regions such as Europe and Latin America, Middle East and Africa (LAMEA).
Major market players
The report includes an in-depth study of the major market players such as Badoo, Grindr LLC, Match Group, Inc., The Meet Group Inc., Spice of Life, eharmony, Inc., Love Group Global Ltd., Spark Networks SE, Zoosk Inc., and rsvp.com.au Pty Ltd.
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