Global Online Dating Services Market Outlook, 2028

Online dating services are a type of digital service that let users search for and meet possible partners online. Casual interactions and simple flirtation are a priority for online dating services. Users typically do the search independently by applying search filters based on age, geography, and other variables. One of the key reasons driving the market expansion during the forecast period is the considerable rise in use of online dating apps like Tinder, Match Group, and others among the youthful population. Online dating applications and portals are increasingly popular as social networking sites play an increasingly important role in navigating and tracking romantic interactions among people. Additionally, the industry has several opportunities to expand as a result of the rising internet penetration rate and the expanding smartphone user base. More users of popular apps like OkCupid, EliteSingles, Tinder, Bumble, eHarmony, and others are anticipated to fuel industry expansion. With over 6.7 million average subscribers as of the fourth quarter of 2020, Tinder is incredibly popular. Due to their low cost, online dating apps are becoming more and more popular among young people. Subscription fees and a strong internet connection are included in the price for the client when using dating apps. Other than that, there are no extra fees or charges that are not disclosed which draws in younger and single people. Access to starting conversations with a variety of people and greater control over the dating process are two other advantages of these apps. More than 1,500 dating websites and apps available worldwide, a number of dating apps and online platforms are investigating the use of artificial intelligence in dating apps to improve matching and provide appropriate profile recommendations. Applications for online dating are created utilising algorithms that identify individuals with shared preferences and interests. For instance, Tinder uses machine learning and recently unveiled a tool called Smart Photos that promises to improve users' chances of connecting with a compatible person. Lara, an AI chatbot on Match.com, assists people in finding love by interpreting their interests, character defects, horoscope indications, etc.

According to the research report, Global Online Dating Services Market Outlook, 2028 the market is expected to cross USD 12 Billion market size, increasing from USD 8.29 Billion in 2022. The global market is forecasted to grow with 7.23% CAGR by 2023-28. The need for more engaging features that enable forming human connections through applications has replaced the market's historical model of casually swiping based on images and biographies. To increase authenticity and connectivity, online dating services are incorporating audio and video into the app. Millennials are picky and deliberate when looking for their significant other, taking into account the other person's outlook on life, shared perspectives on numerous topics, and other similar likes and dislikes. This has encouraged dating service companies to innovate their offerings to meet client needs. One of the major companies in the online dating services market, eHarmony, has revealed plans to build an AI-enabled feature that encourages users to suggest meeting in person after they have been speaking in the app for some time. Additionally, some dating apps use cutting-edge technology heavily into their offerings. As an illustration, in 2018 Badoo, one of the major participants in the market for online dating services announced the addition of a live video chat feature to its applications, giving its users the opportunity to interact in person. Therefore, one of the most significant aspects influencing the growth of the online dating services market is the adoption of technology. Online dating services are becoming incredibly popular among young people, particularly millennials. Due to the societal stigma attached to the LGBTQ+ population in many countries, dating app usage has dramatically increased, especially within this community. Additionally, the global demand for online dating applications is being driven up by the increasing acceptance of inter-caste marriages and dating.

Based on the region, North America is dominating the market with more than USD 2800 Million in 2022 in global online dating services market.

North America is regarded as the industry's most developed market for online dating services. This is explained by the higher percentage of single people in the U.S. population, who also serve as the customer base for many online dating service providers. With 80% of the service sector using the internet for convenience and time savings, the region also has a higher rate of internet penetration. According to statistics from 2016, there are about 44 million active users in North America across all dating apps and websites. Also, in North America, Match Group's online dating service providers had an average of 4 Million users in 2018; this number rose to around 5 Million by 2020. The Tinder, Hinge, BLK, and Chispa applications were significantly responsible for the increase in average subscribers in North America. This is because the U.S. population, which ended up being the clientele for various suppliers of online dating services, accounts for bigger numbers of people. Whether individuals in North America use online dating to find their soul mate, it has become one of the most popular options. The North America region is a desirable market for online dating services since it has a high rate of internet use and a sizable number of tech-savvy consumers. The main market in the area is the United States, followed by Canada.

Based on services, social dating segment is dominating the market occupying for more than 40% market share in 2022 in global dating services market.

The social dating category includes online dating services that enable users to interact and meet new people for casual dating, friendship, or companionship. These websites frequently have a large user base and allow users to establish profiles, search for potential matches using criteria like age and location, and chat or message other users. The matchmaking sector includes online dating services that pair users with potential partners based on compatibility and shared interests using algorithms or human matchmakers. The major market growth is attributed to the fact that social dating was created primarily for millennials, where people search for non-monogamous relationships or instant hook-ups. The segment's growth is further aided by the expanding global user base of websites and apps for casual dating. For instance, with almost 80.0 million users, Adult Friend Finder is one of the top casual dating service providers. The expansion of this market is being greatly aided by the rising number of customers using these dating service providers. Online dating services that facilitate connections and face-to-face encounters for social or romantic dating, friendship, or companionship make up the social dating market. Online dating services have a larger customer base and enable users to create profiles, look for prospective matches by area and age, and chat or message other users. However, online dating services that use matchmakers or algorithms to locate possible matches for users based on compatibility, shared interests, and other criteria are known as matchmaking services. In order to ascertain a user's personality and preferences, these services typically entail a more detailed profile and surveys.

Based on the subscription, monthly subscription is growing at more than 8% CAGR by 2023-28 in global dating services market.

Monthly subscriptions offer users the convenience of accessing dating platforms without committing to a long-term contract. Users can subscribe for a month, evaluate the service, and then decide whether to continue or cancel. This flexibility appeals to many individuals who not want to commit to a longer-term subscription immediately. The online dating market is becoming increasingly competitive, with numerous dating platforms and apps available. Monthly subscriptions allow users to explore multiple platforms in succession without significant financial commitment, giving them a chance to find the one that best suits their preferences. As society becomes more accepting of online dating, more people are open to trying dating apps and websites. The increase in users is likely driving the demand for monthly subscriptions as people experiment with different platforms. Many dating services offer premium features, such as advanced matching algorithms, enhanced privacy options, and access to exclusive profiles. These features are often available to subscribers, incentivizing users to opt for monthly subscriptions to improve their overall experience. Monthly subscriptions often come with stricter verification and security measures, reducing the number of fake profiles and scammers. This helps build trust among users, making them more willing to invest in a subscription. Success stories and positive reviews from friends or acquaintances can encourage individuals to give dating apps a try. As more people share their positive experiences, the interest in dating services and subscriptions increase. Social dynamics and lifestyles are changing, and more people are looking for relationships and connections online due to busy schedules, limited social opportunities, or geographical constraints. This shift in behaviour contributes to the growth of the dating services market and the popularity of monthly subscriptions.

Based on the demographics, adult segment is expected to dominate the overall global online dating market with more than USD 11 Billion by 2028.

As more adults actively seek mates through open-minded perception of many features and other such shared likes or dislikes, the adult population is growing. One of the main factors driving the expansion of this market is the rising number of single individuals and their increased awareness of online dating. Millennials between the ages of 18 and 35 frequently use online dating services. Some of the major players in the market for online dating services rely on this segment of the population to bring in annual revenue. Additionally, for those millennials who favour casual encounters over long-term commitments, social dating sites like Tinder and OKCupid are the perfect venues. The adult segment attracts a vast and diverse user base, including young adults, working professionals, and older individuals who are interested in dating and casual relationships. This broad appeal contributes to its dominance. Society's changing attitudes towards casual dating and sexual relationships have contributed to the growth of the adult segment. As online dating becomes more accepted and mainstream, more people are willing to explore these platforms. The demand for casual dating and non-committal relationships has increased in recent years, especially among younger generations. Online dating platforms cater to this demand, driving the growth of the adult segment.

Market Dynamics

• Market Drivers: There has been a shift in social attitudes towards online dating, with more people accepting and embracing the idea of finding romantic partners online. This change in perception has led to a higher adoption rate of online dating services. Modern lifestyles, characterized by busy schedules and time constraints, have made it challenging for individuals to meet potential partners through traditional means. Online dating offers a convenient and time-efficient way to connect with others. Technological advancements, such as mobile app development, improved user interfaces, and sophisticated matching algorithms, have enhanced the user experience on dating platforms. These technological improvements attract more users to online dating services.
• Market Restraints: Online dating platforms collect sensitive personal information, and users be concerned about data privacy and the risk of encountering fraudulent profiles or scams. Privacy and security issues can deter some individuals from using dating services. Cultural norms and preferences can vary significantly across different regions, leading to varying levels of acceptance and usage of online dating services. Some cultures are more hesitant or conservative about adopting online dating platforms. While many people use online dating services, not everyone finds long-lasting and meaningful connections. The perception of a limited success rate in finding a compatible partner discourages some potential users.
• Market Trends: There is a rising trend of niche dating platforms catering to specific interests, religions, or lifestyle preferences. These platforms focus on providing more targeted and personalized dating experiences, appealing to individuals with particular needs or preferences. Many dating platforms have incorporated video and live streaming features, allowing users to interact in real-time and create more immersive virtual dating experiences. This trend enhances user engagement and helps build stronger connections. The COVID-19 pandemic has accelerated the adoption of virtual dating and online events. Even beyond the pandemic, virtual dating and events are likely to continue as they offer convenience and safety, especially for long-distance connections.

Covid-19 Pandemic

The global use of online dating sites has surged as a result of the COVID-19 pandemic. Its acceptance was further aided by the travel bans imposed by the governments of various nations as well as the closing of stores, malls, and cafes. Due to this, there has been a significant increase in international subscriptions to various online dating services. For instance, the number of Bumble users rose from 855.6 thousand in 2019 to 1,142.1 thousand in 2020. As a result, the pandemic significantly increased the number of users using online dating services all over the world, which further spurred market growth. Numerous businesses unveiled fresh features with the pandemic scenario in mind. A virtual badge that displays persons who are receptive to virtual dating, a badge for those who have received vaccinations, video calling, the gamification of chats, and other pandemic-specific features are just a few. The elements that were already part of Grindr underwent some improvements, including the free video chat service for all users. Additionally, it distributed a COVID-related sexual health guide created by the City of New York to assist users in understanding the dangers of viral transmission.

Key Players Insights

The world of online dating is always evolving and upgrading. Players typically launch new strategy more frequently in order to stay head-on. To grow the number of users in the market, key firms are concentrating on expanding their investments in social media advertising. Major players are also focusing on new demographics and geographic areas to broaden their user base and grow the number of theatres they operate, either by entering the new market on their own or by working with regional businesses throughout the world. Important business activities are also being carried out by key companies, including mergers and acquisitions, partnerships, agreements, the introduction of new features, international expansion, and others. For instance, Bumble announced its first purchase in February 2022. French dating app Fruitz was acquired by Bumble. Bumble used this tactic to increase its presence in Western Europe and Canada. Additionally, Badoo disclosed the introduction of a new feature in its app in May 2018. Match Group, Inc., Bumble Inc, Spark Networks SE, Grindr LLC, Dating Group, happn, ParshipMeet Group, Her, Paktor Pte. Ltd., Muzz, Feeld Ltd, Raya App Inc, Gleeden, AnastasiaDate, The Hello Group, pure (app), MillionaireMatch, The Ashley Madison Agency, Hily, InterracialMatch are some of the major players.

Recent Developments

• February 2022 - Bumble acquired Fruitz, a French dating app, to expand its footprint into Canada and Western Europe. The acquisition is aimed at the company's strategic expansion across borders. Also, Bumble introduced plans to launch a new feature called Bumble BFF+ which will allow users to find friends with shared interests.
• March 2022 - Match Group announced the launch of a dating app, Stir, in addition to its existing portfolio of Tinder, Match, OkCupid, Hinge, and others. The app is designed exclusively for single parents. With the new release, the company aims to address the 20 million single parents in the U.S. who are under-served by existing dating apps, the company says. Also, In January 2022, Match Group published that it had completed its acquisition of Hyperconnect, a social discovery and video technology company.
• February 2022 - Tinder is expanding its portfolio of features by introducing blind dates as it features a popular suite of Fast Chat designed to help members connect faster through fun, innovative prompts, and games.
• In November 2021, Tinder launched a new feature called Explore which allows users to connect with people from around the world.
• December 2021 - Bumble has introduced a new profile design and revamped the matchmaking algorithm, where users on the dating app can have access to view a person's bio, including interests below their first picture, to get an idea about the potential match right from the beginning.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Online Dating Services with its value and forecast along with its segments
• Region-wise Online Dating Services market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Services

• Social Dating
• Matchmaking
• Adult Dating
• Niche Dating

By Subscription Type

• Annually
• Quarterly
• Monthly
• Weekly

By Demographics

• Adult
• Baby Boomers

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Online Dating Services industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.