One of the world’s oldest professions is matchmaking, and given the role of technology te today’s world, it’s no verrassing that the industry is flourishing. With an explosion of fresh websites and apps, the dating services industry has performed very well te the past five years and is continuing to grow spil today’s singles turn to the Internet for help finding love.
Read on to detect insights into the market for dating services and what the future holds for this industry.
Types of Matchmaking Services
According to a latest report by Marketdata Enterprises Inc, dating services is a $Two.Five billion business ter the United States alone. Since 2001, online services have soared ter popularity and now a ccount for 70 procent of the market’s value. The dating services industry includes several different segments.
Online Dating Websites: Sites such spil Match.com, Slew of Fish, eHarmony, and hundreds more bring affordable and convenient matchmaking services to America’s 124 million singles.
Dating Apps: Smartphones have brought online dating into the forearms of thousands of Millennials through popular fresh apps. According to Business of Apps, the dating app Tinder is available ter overheen 30 languages. The app has generated overheen one billion matches since its embark, and subscriber estimates vary inbetween 100,000 and 297,000 users.
Te June 2014 during the FIFA World Cup ter Brazil, the app had a 50 procent increase te downloads and usage. The capability to connect instantaneously through an app is an appealing opzicht to many single consumers. Because this apps is free, it makes its profits through ads and its premium service, Tinder Plus.
Matchmakers & Dating Coaches: Companies and professionals ter this industry provide matchmaking services and host singles events such spil speed dating. Thesis professionals also work to help improve their clients’ overall success ter dating and relationships. Thesis one-on-one services are more expensive than online dating sites.
A Switch of Heart
The stigma merienda associated with online dating is disappearing. Ter 2005, 29 procent of U.S. adults agreed with the statement, “People who use online dating sites are desperate,” but te 2013, only 21 procent of adults agreed with the statement. Now, 87 procent of masculines and 83 procent of females agree with the statement, “Online dating is socially acceptable.”
But, even with this shift, online dating and mobile apps still face ongoing challenges. According to Pew Research Center, 54 procent of online daters felt that someone else gravely misrepresented themselves te their online profile. Pew also found that 28 procent of online daters have bot contacted by someone through an online dating webpagina or app te a way that made them feel harassed or awkward. Other challenges facing the market include fake online profiles, fraudulent traffic, database breaches, and privacy safeguards to protect users.
How Will the Industry Evolve?
According to Marketdata Enterprises Inc., dating webstek revenues are expected to slow down and achieve only moderate growth this year because the U.S. market is enormously saturated. There are overheen 1,500 dating sites that all are working to attract the same consumers: single guys and women.
But, that doesn’t mean businesses should lose hope. Te fall of , the leading dating webpagina ter the U.S. Match.com had an IPO. Match Group’s portfolio includes Tinder, Slew of Fish, How About Wij, and OkCupid. While Match said that almost all of its revenue presently comes from paid membership fees on its sites, advertising revenue could be a big source of future growth, especially when it comes to enlargened usage among mobile users.
And eventually, spil more success stories emerge, many singles will turn to matchmaking services. About 8 procent of 18-29 year olds admit to being te a committed relationship with a spouse or playmate they met online, according to Statista.
Interested ter learning more about the dating services industry? Check out all of our reports.