The most recent study conducted by Report Ocean, titled “Global Online Dating Application Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Online Dating Application. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Online Dating Application Market to reach USD $ million by 2027.Global Online Dating Application Market is valued approximately at USD $ Million in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Online dating application is a dating service which is presented through the smart phone application by taking the advantage of GPS location capabilities and have easy access to the digital photo galleries and the mobile wallets for enhancing the traditional nature of the online dating.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The global Online Dating Application market is being driven by rising usage of smartphones and internet penetration along with changing perception of online dating. Furthermore, rising single adult population across the world, will provide new opportunities for the global online dating application industry.
For instance,. the dates registered on OkCupid platform increased by about 700% between March 2020 to May 2020. Also, according to KeyUA organization repot, The average number of subscribers for Match Group dating services has been grew 11% by the end of year 2020 compared to 2019. As a result, increased in usage and subscribers of online dating platforms will serve as a catalyst for the Online Dating Application industry in the future. However, surge in number of online scams, may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key regions considered for the regional analysis of global online dating application market. Rising proliferation of the smartphones and the rise in usage of the internet makes the North America the leading region across the world in terms of market share. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to the increasing young generation and rising uses of online dating application among young generation in the region.
Major market player included in this report are:
Tinder
Bumble
Plentyoffish
OkCupid
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Badoo
Grindr LLC
eHarmony, Inc.
Spark Networks, Inc.
The Meet Group, Inc.
rsvp.com.au Pty Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service:
Matchmaking
Social dating
Adult dating
Niche dating
By Subscription:
Annually
Quarterly
Monthly
Weekly
By Demographics:
Adult
Baby Boomer
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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