North America to Dominate Dating Apps Market until 2024
Surging internet and
smartphone penetration is expected to drive growth in global dating apps market
during forecast period
According to
TechSci Research report, “Global Dating Apps Market By Age, By Gender, By Subscription, By Region, Competition,
Forecast & Opportunities, 2024”, the global dating apps market
is forecast to reach $8.4 billion by 2024. Dating apps are witnessing rising adoption
owing to the increasing internet and smartphones penetration. Additionally, the
present younger generation is so busy in their lives that they hardly get any
time to socialize, hence they use such apps for socialization and finding a
partner. However, rising cybersecurity concerns can hamper the growth of market
during forecast period.
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The global
dating apps market is segmented based on age, gender, subscription, company and
region. Based on Age, the market can be categorized into (18-25 years),
(26-34 years), (35-50 years) & Above 50 years. Millennials (18-25 years)
are the ones who are ruling the market. Based on gender, the
market can be bifurcated into male and female. The male population
dominates the market since there is a very small population of women who are
using such platforms to find their partners. On the basis of subscription, the
market can be fragmented into Premium annually, Premium monthly and Non-premium.
The Non-premium subscription segment is expected to register significant growth
during the forecast period since it is the most preferred segment when people
think of trying the paid versions of the app.
Match Group, Inc. (OkCupid, PlentyOfFish, Tinder, and
Match.com), Badoo, eHarmony, Inc., Grindr LLC, FTW & Co (Happn), Spark
Networks, Inc., The Meet Group, Inc., Zoosk Inc., RSVP.com.au Pty. Ltd., and The
League are some of the leading players operating in global dating apps market. The
companies operating in the market are focusing on innovations to strengthen
their position in the market. For instance, eHarmony, one of the key players in
online dating services market, announced developing an AI-enabled feature that
nudges users to suggest meeting in person after they have been chatting in the
app for a while.
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“North America is expected to dominate
the dating apps market during the forecast period. This can be attributed to the
fact that the US population accounts for higher number of singles, which turns
out be the targeted customer base for various dating apps services providers.
Moreover, the region has higher rate of internet penetration with 80% of the
service sector going online for the sake of convenience and time value. It is
estimated that around 50 million users stay active on various online dating
services apps and sites in North America.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Dating Apps Market By Age, By Gender, By
Subscription, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global dating
apps market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global dating apps market.
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