The Dating Services involving both online and traditional are social platforms whereby an individual can search, contact and meet each other over to organize a date, usually with the purpose of emerging a relationship.
According to the report analysis, ‘Dating Services Market by Type (Online and Traditional), Service (Matchmaking, Social Dating, Adult Dating, Niche Dating), and Demographics (Adult and Generation X): Global Opportunity Analysis and Industry Forecast, 2019-2026’ states that in the dating services market there are several corporates which presently operating more significantly for leading the fastest market growth and dominating the handsome value of market share around the globe throughout the forecast duration while decreasing the associated cost, increasing the applications and features of dating services, delivering the better consumer satisfaction, employing the young work force, implementing the profitable strategies, analyzing the favorable and unfavorable policies of the government and spreading the awareness related to the dating services includes Grindr LLC, Love Group Global Ltd., Badoo, eharmony, Inc., The Meet Group Inc., Spice of Life, Match Group, Inc., Spark Networks SE, Zoosk Inc., rsvp.com.au Pty Ltd and several others.
The foremost aspects driving the growth of dating services market involves the increment in the number of singles or unmarried, massive upsurge in affordability, lucrative options simplified by the online dating services leading to sophisticated rate of subscription, technological innovations, and speedy augment in the preference of customers towards non monogamous relationships. In addition, the customized solutions according to preferences, like and dislikes have transfigured the dating services market. However, aspects such as fraudulent activities, dating scams and data secrecy results in apprehension amongst the customers are encumbering the revenue growth of dating services market. Furthermore growing the number of smartphone users, increasing adoption of internet services amongst the semi-urban population would deliver the lucrative opportunities for the affianced stakeholders in the industry. The dating services market size was worth at USD 6.7 billion in 2018, and is projected to reach USD 9.9 billion by 2026, dominating a CAGR of 5.2% from 2019 to 2026.
Although, for the last couple of decades, there has been outpouring in the rate of internet penetration around the foremost parts of the world. This has given consumer easy access to several information and social media sites. Growth in the utilization of the internet services has been augmented the visibility of numerous online platforms for dating services. These online dating services/platforms deliver the instant matches between right couples in terms of their lifestyle and outlook, which all together create it calmer for their consumers to find their appropriate match in no time.
The lucrative services delivered by these online dating services leads to greater rate of subscription or registration of target consumers, thereby influencing the growth of the worldwide market. However, the industry also faces challenges from the fraudulent activities and solemn privacy and protection risks. There has been momentous increase in quantity subscriptions over the past two decades, due to growth in popularity of several online dating sites. Therefore, in the coming years, it is anticipated that the market of dating services will increase around the globe over the forthcoming years more actively.
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Ankur Gupta, Head Marketing & Communications