Global Online Dating Services Market 2017-2021
About Online Dating Services
Online dating services provide users the ideal platform to interact with the interested people through computer or mobile devices. Online dating services have become extremely credible with increasing number of users accepting the idea of meeting a random stranger through online dating services. Also, the verification processes are tightened due to which there are very few fake profiles, which make online dating service a safe environment for the users.
Technavio’s analysts forecast the global online dating services market to grow at a CAGR of 5.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global online dating services market for 2017-2021. To calculate the market size, the report considers the revenue generated from online dating services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Online Dating Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global online dating services market: Match.com, eHarmony, Tinder, and Zoosk
Other Prominent Vendors in the market are: Badoo, BlackPeopleMeet, Bumble, Elite Singles, happn, OurTime, Spark, and Tastebuds.fm.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing number of users subscribing. The majority of online dating services are a freemium model where users get registered and use it for free till the user wants to subscribe to the added benefits of the subscription model. With increasing number of users opting for the subscription model, vendors do not share all their offerings with their users who still use it for free. This has resulted in an extremely low probability of a match for freemium users, which makes them want to opt for a subscription model. With the steady revenue stream offered by the subscription users to the vendor, they are tempted by the idea of tinkering with the matchmaking algorithm, which would enable more users to subscribe to their service. The vendor with the highest subscription revenue from its user base will be able to offer more offerings to its users. This will, in turn, increase the number of subscribers during the forecast period.”
According to the report, one of the major drivers for this market is Low hassle in order to find a partner. Dating services are gaining popularity on the online platform from traditional dating services such as speed dating. Using smartphones, people can search for their dates without meeting them personally. Before dating became mainstream in the online environment, people used to spend a lot of time on trying to impress. With the availability of online dating, people can easily have access to different people. People can get to know the person and only then try to impress the person. Online dating, if successful, boosts the confidence of the person and enhances their social life.
Further, the report states that one of the major factors hindering the growth of this market is Limited trust on online dating services. Despite online dating services being such a wide spread phenomenon, there is still a large segment of population that still do not agree with the idea of online dating. Online dating should be approached light heartedly in the beginning. However, there are people who still think adversely about the drastic consequences. Some of the aligning fears include an abrupt end to the relationship, increasing someone’s hopes, and feeling vulnerable in front of strangers. This is one of the major factors for people in South Asian countries. As these countries have a high population, the perception of dating service is a huge challenge to the online dating services market.
Match.com, eHarmony, Tinder, Zoosk, Badoo, BlackPeopleMeet, Bumble, Elite Singles, happn, OurTime, Spark, and Tastebuds.fm.
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