Global Online Dating Application (Subscription, Advertising) Market Size, Share & Trends Analysis Report 2021-2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Online Dating Application Market 2021-2028” has been added to from ResearchAndMarkets.com offer.

The global online dating application market size is expected to reach USD 11.03 billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028

The proliferation of smartphones and increasing internet penetration are among the major factors that are expected to boost the growth of this market. The preference for online dating apps has particularly increased following the outbreak of the COVID-19 pandemic.

Several governments around the world have imposed lockdowns and restrictions on the movement of people and goods as part of efforts to curb the spread of the coronavirus. Hence, individuals resort to online dating apps to connect with people and engage in personal relationships.

The growing trend of people, especially young people, prioritizing their careers over marriage and living alone also plays a key role in the popularity of online dating platforms. Several statistics have already highlighted the growing tendency of individuals in different parts of the world to live alone.

For example, in New Zealand and Australia, 1 in 7 women in their 40s have never been married, while in Central and South Asia about 1 in 100 women are unmarried. Data released by the US Census Bureau in 2017 also revealed that almost 31% of adults in the United States were unmarried and living alone has become a popular trend in the United States.

The Japanese government is seeking budget approval for a new AI-powered dating service that may allow singles to find more organized matches. The service plans to leverage AI systems to perform more sophisticated analytics and help matchmaking based on various criteria.

The Japanese government expects AI-assisted systems to generally help assess in detail the preferences provided by individuals eager to embrace “konkatsu,” the Japanese concept of marriage hunting. Such initiatives are expected to boost the market in the Asia-Pacific region.

However, data security and privacy concerns are expected to restrain the market growth. Hackers particularly target online dating apps to acquire individuals’ personal data, having realized that more and more individuals are resorting to such apps following the outbreak of the pandemic.

Research by Kaspersky Lab has highlighted the high data exposure risks associated with dating apps due to the transmission of unencrypted user data over the insecure Hyper Text Transfer Protocol (HTTP). Data breaches have already exposed personal records, including activity logs, name, gender, age, email addresses, billing, professional, education, contacts, and location of, among other things, multiple users of various dating apps and websites.

Highlights of the Online Dating Application Market Report

  • The subscription segment dominated the market in 2020 and is expected to maintain its leading position throughout the forecast period. While several dating apps offer various features for free, many others offer limited features for free use and charge a certain amount for premium features.

  • The 18-25 year old sub-segment is expected to register the second highest CAGR of 5.8% over the forecast period. The growth of the segment can be attributed to the increasing use of smartphones and internet among individuals in this age group

  • The male segment dominated the market in 2020 and is expected to remain dominant during the forecast period. An article published by eHarmony claimed that men use dating apps more than women

  • North America was the largest regional market in 2020. However, Asia-Pacific is expected to grow at the highest CAGR of over 6% during the forecast period.

  • The growth of the Asia-Pacific regional market can be attributed to the continuous deployment of high-speed data networks which are boosting the number of internet users in the region. Nearly 49% of the Asian population or about 2 billion people in Asia are internet users

Market dynamics

Market Driver Analysis

  • Increase in smartphone and internet penetration

  • Increase in single adult population

  • Changing the Perception of Online Dating

Analysis of market challenges

  • Increase in the number of online scams

  • Increase in the number of data breaches

Analysis of market opportunities

Online Dating Apps Market – Porter’s Five Forces Analysis

Online Dating Apps Market – PESTEL Analysis

Online Dating Application Market – Impact of Covid-19

Companies cited

  • Tinder

  • Bumblebee

  • A lot of fish

  • OkCupid

  • badoo

  • Grindr LLC

  • eHarmony, Inc.

  • Spark Networks, Inc.

  • The Meet Group, Inc.

  • rsvp.com.au Pty Ltd.

  • Zoosk, Inc.

  • The league

  • Coffee meets bagel

For more information about this report visit https://www.researchandmarkets.com/r/l0t5dy

About Jimmie P. Ricks

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