Dating Services Market Analysis and Growth Forecast by Regions 2028

The global dating services market size is expected to reach at USD 15.2 billion by 2028. The market is expected to expand at a CAGR of 7.7% from 2021 to 2028. The major growth factors of the market include the growing trend towards online dating applications coupled with the rising young population across the globe. Moreover, the growing popularity of online dating apps further provides significant growth to the market. The Match group operates through various dating services apps such as Tinder, Hinge, and others that contributed significantly to the market. However, the rising number of online frauds across the globe is projected to hamper market growth during the forecast period.

 

The market practiced a significant increase in the overall revenue of the dating services platforms and apps owing to the rising trend of dating services applications due to Covid-19 restrictions and lockdown. Additionally, under the lockdown conditions imposed in some countries owing to the pandemic, many people prefer dating services platforms in their free time. Bumble Inc., is one of the leading service providers of dating services accounted for a significant increase in paying users to 2.5 million in 2020 as compared to 2.0 million paying users in 2019.

 

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The matchmaking segment is expected to forecast a significant growth rate of 7.8% from 2021 to 2028. The growth of the market is attributed to the rising trend towards online serious relationships among the young population across the globe. Social networks play a significant role in enhancing the adoption of matchmaking services in the young population. Furthermore, the rising penetration of smartphone users coupled with growing internet availability in emerging economies is projected to provide significant growth opportunities in the near future.

 

Europe held a significant revenue share of more than 20.0% in 2020. Well-developed countries such as Germany, the U.K., and France are positively contributed to market revenue. The high market share can be credited to the strong presence of the young population and dating services platforms in the region, and the long-existing demand for dating services apps. Along with that, the growing number of startups such as So Syncd, Meet 5, Happn, Relate, Bare, Breeze, and others are providing dating services in the region further projected to offer a significant opportunity to market growth.

 

Dating Services Market Report Highlights

• Europe accounted for revenue share of more than 20.0% in 2020. The strong and wide presence of the key players and long-standing demand for dating services among the young population are accountable for high market share contribution

• North America dominated the market and accounted for the largest revenue share in 2020

• The matchmaking segment is expected to register a CAGR of 7.8% from 2021 to 2028. A significant rise in the use of dating apps for serious relationships coupled with the significant development of dating services apps drives segment growth.

 

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