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
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