According to the report published by Allied Market Research, the global online dating services market was estimated at $6.4 billion in 2017 and is expected to hit $9.2 billion in 2025, growing at a CAGR of 4.7% from 2018 to 2025. The research provides an in-depth analysis of top investment pockets, major segments, evolving market trends, market size & forecasts, and competitive landscape.
Huge portion of adult population accounting to single or unmarried demographic segments, lucrative options facilitated by online dating services, higher rate of subscriptions and growing inclination for customers toward non-monogamous relationship have fueled the growth of the global online dating services market. On the other hand, fraudulent accounts have given rise to apprehension among customers which, in turn, have restricted the growth to some extent. However, social media marketing and rise in number of millennial population have created multiple opportunities in the segment.
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Based on services, the social dating segment accounted for the major share, contributing to 35% of the total market in 2017. Simultaneously, the matchmaking segment is expected to grow at the highest CAGR of 4.9% from 2018-2025. Based on subscription, the quarterly segment held 34% of the total market and is anticipated to be dominant during the study period. This same segment is also projected to have the fastest CAGR of 4.9% from 2018-2025. By demographics, the adult segment held the major share of 70% and is anticipated to grow at the highest CAGR of 4.9% throughout the period 2018-2025. The market is analyzed across various regions including North America, Asia-Pacific, Europe, and rest of Asia-Pacific. North America contributed to the major market share in 2017 and is expected to grow at a CAGRs of 4.5% throughout the forecast period.
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Leading market players analyzed in the report include Badoo eharmony, Inc., Grindr LLC, Love Group Global Ltd., Zoosk Inc, Spark Networks SE, rsvp.com.au Pty Ltd, The Meet Group Inc., Match Group, Inc., and Spice of Life. The top-end strategies they adhere to have helped them retain a strong stand in the market.
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