What is Online Dating and Matchmaking Market?
Online dating and matchmaking is a system that allows different people to find as well as introduce themselves to potential connections over the internet, and usually with the aim of establishing a romantic, personal, or sexual relationship. An online dating service is a company that provides certain mechanisms (generally websites or software applications) for online dating using internet-connected personal computers or mobile devices. Such companies offer a variety of unmoderated matchmaking services, most of which are profile-based. These services allow users to become "members" just by creating a profile and uploading personal information such as their age, gender, sexual orientation, location, and appearance. Most of the services also encourage the members to add photos or videos to their profiles. Once a profile has been created, members can view the profiles of other members of the service and use the visible profile information to decide whether or not to contact. Most services offer digital messaging, while others offer additional services such as webcasts, online chat, and telephone chat (VOIP), as well as message boards. Members can limit their interactions with the online area or make an appointment for a face-to-face meeting. Online dating, which has quickly become a ubiquitous means of finding potential partners, has transformed both the romantic acquaintance process and the compatibility matching process. For example, instead of meeting potential partners, getting an overview of how well you are interacting with them, and then slowly learning various facts about them, online dating usually involves learning a wide range of facts about potential partners beforehand It is decided whether you want to meet them personally. Instead of relying on the intuition of village elders, family members, or friends, or choosing which pairs of unknown singles are particularly compatible, certain forms of online dating must place romantic fate in the hands of a mathematical matching algorithm.
The market study is being classified by Type (Matchmaking, Social Dating and Adult Dating), by Application (Individual Use and Commercial Use) and major geographies with country level break-up.
Badoo (United Kingdom), Eharmony (United States), Jiayuan (China), Baihe (China), Grindr (United States), Love Group Global (Australia), Zhenai (China), PlentyofFish (Canada), OkCupid (United States), Spark Networks (Germany), ProSiebenSat.1 (Germany) and IAC (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Online Dating and Matchmaking market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Online Dating and Matchmaking market by Type, Application and Region.
On the basis of geography, the market of Online Dating and Matchmaking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rise in Number of Singles around the Globe
- A Surge in Internet Penetration around the Globe
- A Rise Customized Features That Cater To the Needs of Customers
Market Trend
- Increased Dating and Marriage outside Traditional Social Circles
- Increase in Time People Spend On a Smartphone
- A Rise in Changing Communication Habits
Restraints
- Rising Scammer’s Abuse, Publishing Intimate Photos, Attacks, And Criminal Cases
Opportunities
- Growth in Using Artificial Intelligence to Provide Guidance or Suggestion to Their Customers
- A Rise in Significant Usage of New Technologies into Their Services
Challenges
In 2018, Badoo, one of the key players in the online dating services market, announced the addition of live video chat feature to its apps that gives its user a chance to talk face-to-face.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, and Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry