Dating Services Market by Type, Service and Demographics: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled, 'Global Dating Services Market by Type, Service and Demographics: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global dating services market size was $6.7 billion in 2018, and is expected to reach $9.9 billion by 2026, registering a CAGR of 5.2% from 2019 to 2026.

Dating services including both online and traditional are platforms/services whereby an individual can search, contact and meet each other over to arrange a date, usually with the intention of developing a romantic, personal, or casual relationship. The popularity of online dating has increased substantially since its inception. The dating services market has seen substantial growth owing to advancement of new technologies location-tracking virtual dating, machine leaning, artificial intelligence.

The overwhelming presence of technology will continue to optimize the process, improvise features and provide utmost convenience to the users. Machine Learning and AI are now being used to make better matches based on users’ actions rather than solely relying on stated preferences. Furthermore, engaged players such as Oculusare are using VR tech and providing virtual dating lessons to help customers learn how to approach women.

Buoyed by the a surge in user base and widespread acceptance of dating applications, social media platforms such as Facebook are now entering in the U.S. market to capitalize on growing opportunities in the industry. At the same time these companies also faces stiff competition from apps such as OKCupid, Tinder and Bumble.

While dating industry is flourishing with proliferation in niche segment, advancements in technologies and rendering unique experiences, the push come with its own sets of unique challenges. Fraudulent activities, dating scams and data privacy remains key challenges for engaged stakeholders in the market. Concerns over personal data security on online dating apps and sites remains one of the key challenge amongst users. Recent years have seen exponential increase in data breaches through dating and social media platforms. Notable examples includes hacking of credentials for more than 32 million registered Ashley Madison users, 20 million email addresses along with usernames of Russia-based dating site Topface and about a million users personal details including sexual preferences, income and home address of dating website Beautifulpeople.com.

The global dating services market is segmented into type, service, demographics and region. Based on type, the global market is bifurcated into online and offline. Depending on service, the market is studied across matchmaking, social dating, adult dating and niche dating. Based on demographics, the global market is segmented into adults and generation X. Region wise, the dating services market growth is studied across North America, Europe, Asia-Pacific, and LAMEA

Key Findings of the Dating Services Market:

The online segments dominate the global market with more than 90% market share in 2018
In 2018, based on services, the matchmaking segment accounted for about one-third of the global dating services market trend. However, the social dating segments is expected to witness robust growth with a CAGR of 6.4%, during the forecast period.
The adult segment mainly comprising of millennials and Generation Z will continue to lead in terms of revenue generation during the analysis period.
North America leads in terms of dating services market share and is expected to gain incremental opportunity of about $819 million during the dating services market forecast.
In 2018, based on region, Asia-Pacific is anticipated to grow with robust CAGR of 7.4% during the forecast period.
Some of the key players operating in the dating services market 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., and rsvp.com.au Pty Ltd among others.

Companies Mentioned

• 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 Lt

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.