Sextech Global Market Report 2024

The sextech market size has grown rapidly in recent years. It will grow from $31.61 billion in 2023 to $37.38 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth observed in the historic period can be attributed to factors such as changing social attitudes toward sexuality, increased emphasis on sexual health education, a growing demand for privacy and discretion in sexual products, a preference for customization and personalization in sex tech offerings, and broader cultural shifts toward sexual liberation. These factors have contributed to a more open and informed approach to discussions and innovations related to human sexuality.

The sextech market size is expected to see rapid growth in the next few years. It will grow to $68.2 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The anticipated growth in the forecast period can be attributed to factors such as the integration of sex tech with health and wellness platforms, the incorporation of artificial intelligence (AI) and machine learning (ML) in sexual health solutions, the rise of telehealth and remote intimacy solutions, increasing regulatory acceptance of sex tech innovations, and a growing focus on inclusivity and diversity in the offerings. Major trends expected in the forecast period include continuous advancements in technology, the expanding presence of sex tech on e-commerce and digital platforms, an increased focus on sexual health and wellness, the development of more inclusive and diverse product offerings, and the facilitation of remote connectivity for long-distance intimacy.

The growth of online dating is anticipated to drive the expansion of the sextech market in the future. Online dating involves using internet-based platforms, websites, or mobile applications to connect and interact with potential romantic or sexual partners. Sextech encompasses various technologies and innovations related to sexual intimacy, offering benefits for online dating such as improved communication, virtual intimacy, privacy and safety features, among others. For example, in June 2023, Business 2 Community reported that the total number of paying users across Bumble's apps reached 3.2 million in 2022, indicating an increase from 2.9 million users in 2021. Therefore, the growth of online dating is a key driver for the sextech market.

The increasing youth population is also expected to contribute to the growth of the sextech market. The youth population refers to the segment of a country's or society's population within a specific age range considered as 'youth.' This demographic tends to use sextech for sexual education and exploration, providing access to information for safe, informed, and consensual sexual experiences. As of September 2023, according to the United Nations, the global youth population, currently comprising 16% of the total global population, is projected to increase by 7% by 2030, reaching nearly 1.3 billion. Therefore, the growing youth population is a significant factor driving the growth of the sextech market.

Rising privacy and security concerns are anticipated to hinder the growth of the sextech market. The increasing apprehensions about privacy and security act as a deterrent, restricting the market's expansion by undermining user trust and impeding adoption, particularly in intimate and sensitive technological domains. For example, in 2023, according to the CISCO Data Privacy Benchmark Study 2023 by Cisco Systems Inc., a US-based technology company, 95% of respondents consider privacy a crucial business necessity, up from 90% in 2022, and 94% believe customers are unlikely to make a purchase from businesses without proper data protection. Therefore, the growing privacy and security concerns are restraining the growth of the sextech market.

Leading companies in the sextech market are directing their efforts toward technological advancements, such as the ChatGPT Pleasure Companion, to enhance their profitability. The ChatGPT Pleasure Companion represents a recent sex tech innovation used for voicing stories and controlling sex toys. For instance, in July 2023, Lovense LLC, a Singapore-based manufacturer of high-quality and high-tech sex toys, launched the 'ChatGPT Pleasure Companion' app, which engages customers with immersive stories created by the application based on the client's preferences. The ChatGPT Pleasure Companion app is designed to craft stories and bring to life any fantasies or dreams of customers using this tool.

In March 2023, Ethical Capital Partners Ltd., a Canada-based private equity firm, acquired Mindgeek LLC for an undisclosed amount. Through this acquisition, both companies aim to promote and raise awareness regarding consensual sex entertainment worldwide. Mindgeek LLC is a Canada-based company that develops and operates an extensive portfolio of adult entertainment sites and streaming websites.

Major companies operating in the sextech market report are Apple Inc., Hims & Hers Health Inc., LELO Inc., Unbound Inc., Doc Johnson Enterprises Inc., Lovehoney Group Ltd., Karex Berhad, Lovense LLC, FUN FACTORY GmbH, TENGA Co. Ltd., WOW Tech Group, California Exotic Novelties LLC, Unbound Inc., Satisfyer GmbH, Dame Products Inc., OhMiBod LLC, MysteryVibe Ltd., Athais Inc., Vibease Pte. Ltd., Virtual Reality Bangers Inc., Emojibator, Womanizer Inc., Standard Innovation Corporation, Hot Octopuss Ltd., Arcwave Inc., Giddy Holdings Inc., MYHIXEL SL, Bijoux Indiscrets S.L., Mymuse India Private Limited.

North America was the largest region in the sextech market in 2023. The regions covered in the sextech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sextech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Sex tech encompasses a category of technology and innovations designed to enhance or facilitate various aspects of human sexuality, sexual health, and relationships. Its primary purposes include promoting awareness and education regarding sexual pleasure and activities.

The main products within the realm of sex tech include VR porn (virtual reality pornography), Bluetooth-enabled sex toys, pornography video scripting, remote sex interfaces, and sex robots. VR porn is a form of adult content created specifically for consumption through virtual reality (VR) technology. These products are distributed through various channels, including specialty stores, direct sales, and online stores. The end-users of sex tech products include individuals from diverse groups such as men, women, and the LGBT community.

The sextech market research report is one of a series of new reports that provides sextech market statistics, including the sextech industry global market size, regional shares, competitors with sextech market share, detailed sextech market segments, market trends and opportunities, and any further data you may need to thrive in the sextech industry. This sextech market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The sex tech market includes revenues earned by entities by provide software and platforms such as confession apps and toys. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The sex tech market consists of sales of dame sex toys, vibrators, prostate massagers, and dildos. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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