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Online Dating Services Market by Type, Revenue, and Geography - Forecast and Analysis 2020-2024

  • Published: May 2020
  • Pages: 120
  • SKU: IRTNTR41096
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The online dating services market share is expected to increase by USD 3.56 billion from 2019 to 2024, at a CAGR of 9%.

This online dating services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online dating services market segmentation by type (casual, socialize, and marriage), geography (North America, APAC, Europe, South America, and MEA), and revenue (advertising and subscription). The online dating services market report also offers information on several market vendors, including Coffee Meets Bagel, eHarmony Inc., EliteMate.com LLC, Happn SAS, Love Group Global Ltd., Match Group Inc., Spark Networks SE, Tastebuds Media Ltd., The Bumble Group, and The Meet Group Inc. among others.

What will the Online Dating Services Market Size be During the Forecast Period?

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Online Dating Services Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing number of users subscribing is notably driving the online dating services market growth, although factors such as limited trust in online dating services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online dating services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Online Dating Services Market Driver

One of the key factors driving growth in the online dating services market is the low hassle in order to find a partner. Dating services are gaining popularity on the online platform from traditional dating services such as speed dating. Using smartphones, people can search for their dates without meeting them personally. Before dating became mainstream in the online environment, people used to spend a lot of time trying to impress. With the availability of online dating, people can easily have access to different people. People can get to know the person and only then try to impress the person. Online dating, if successful, boosts the confidence of the person and enhances their social life.

Key Online Dating Services Market Trend

The increasing number of users subscribing is another factor supporting the online dating services market share growth. The majority of online dating services are a freemium model where users get registered and use it for free until the user wants to subscribe to the added benefits of the subscription model. With an increasing number of users opting for the subscription model, vendors do not share all their offerings with their users who still use it for free. This has resulted in an extremely low probability of a match for freemium users, which makes them want to opt for a subscription model. With the steady revenue stream offered by the subscription users to the vendor, they are tempted by the idea of tinkering with the matchmaking algorithm, which would enable more users to subscribe to their service. The vendor with the highest subscription revenue from its user base will be able to offer more offerings to its users. This will, in turn, increase the number of subscribers during the forecast period.

Key Online Dating Services Market Challenge

The limited trust in online dating services will be a major challenge for the online dating services market during the forecast period. Despite online dating services being such a widespread phenomenon, there is still a large segment of the population that still does not agree with the idea of online dating. Online dating should be approached light-heartedly in the beginning. However, there are people who still think adversely about the drastic consequences. Some of the aligning fears include an abrupt end to the relationship, increasing someone’s hopes, and feeling vulnerable in front of strangers. This is one of the major factors for people in South Asian countries. As these countries have a high population, the perception of dating services is a huge challenge to the online dating services market.

This online dating services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global online dating services market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the online dating services market during the forecast period.

Who are the Major Online Dating Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Coffee Meets Bagel
  • eHarmony Inc.
  • EliteMate.com LLC
  • Happn SAS
  • Love Group Global Ltd.
  • Match Group Inc.
  • Spark Networks SE
  • Tastebuds Media Ltd.
  • The Bumble Group
  • The Meet Group Inc.

 

This statistical study of the online dating services market encompasses successful business strategies deployed by the key vendors. The online dating services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • The Meet Group Inc. - The company offers online dating connections for all single persons across the world. The company manages a range of dating mobile applications and services such as meetme, LOVOO, SKOUT, TAGGED, and GROWL.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The online dating services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Online Dating Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the online dating services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the specialized consumer services market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Online Dating Services Market?

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37% of the market’s growth will originate from North America during the forecast period. The US is the key market for online dating services in North America. Market growth in this region will be slower than the growth of the market in the European, APAC, and South American regions.

The increasing smartphone and internet penetration will facilitate the online dating services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Online Dating Services Market?

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The online dating services market share growth by the casual segment will be significant during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online dating services market size and actionable market insights on post COVID-19 impact on each segment.

 

Online Dating Services Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 9%

Market growth 2020-2024

USD 3.56 billion

Market structure

Fragmented

YoY growth (%)

13.32

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 37%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Coffee Meets Bagel, eHarmony Inc., EliteMate.com LLC, Happn SAS, Love Group Global Ltd., Match Group Inc., Spark Networks SE, Tastebuds Media Ltd., The Bumble Group, and The Meet Group Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Online Dating Services Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive online dating services market growth during the next five years
  • Precise estimation of the online dating services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online dating services industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online dating services market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type placement
  • Casual - Market size and forecast 2019-2024
  • Socialize - Market size and forecast 2019-2024
  • Marriage - Market size and forecast 2019-2024
  • Market opportunity by Type

Market Segmentation by Other 1

  • Market segments
  • Comparison by Other1 placement
  • Advertising - Market size and forecast 2019-2024
  • Subscription - Market size and forecast 2019-2024
  • Market opportunity by Other1

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • Coffee Meets Bagel
  • eHarmony Inc.
  • EliteMate.com LLC
  • Happn SAS
  • Love Group Global Ltd.
  • Match Group Inc.
  • Spark Networks SE
  • Tastebuds Media Ltd.
  • The Bumble Group
  • The Meet Group Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The online dating services market growth will increase by $3.56 billion during 2019-2024.
The online dating services market is expected to grow at a CAGR of 8.75% during 2019-2024.
Technavio has segmented the online dating services market by type (Casual, Socialize, and Marriage) and geographic (North America, APAC, Europe, South America, and MEA).
Coffee Meets Bagel, eHarmony Inc., EliteMate.com LLC, Happn SAS, Love Group Global Ltd., Match Group Inc., Spark Networks SE, Tastebuds Media Ltd., The Bumble Group, The Meet Group Inc. are a few of the key vendors in the online dating services market.
North America will register the highest growth rate of 36.80% among the other regions. Therefore, the online dating services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the online dating services market growth are:
  • Low hassle in order to find a partner
  • Increasing number of users subscribing
The online dating services market vendors should focus on grabbing business opportunities from the casual segment as it accounted for the largest market share in the base year.
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