Market is expected to report a substantial rise during the forecast period. In
addition to the ubiquity of cell phones, the growing adult population is the
main driving force behind industry expansion. The usage of these apps has
witnessed a tremendous rise, especially among the LGBTQ community, owing to the
social stigma associated with the community in many countries.
millennials being career-oriented tend to stay single which means a lot of the
adult population remains single for a long time, which is a huge asset to the
online dating scenario. Other growth factors include changing perceptions of
dating, increased mobile penetration, the need for more socialization
post-COVID, and an increase in failed relationships. People now do not solely
rely on what seems attractive to their eyes but also consider things, such as
age, career, and hobbies, while they show interest in a particular profile. On
the other side dating apps comes with a list of drawbacks, such as untruths and
In 2022, the
dating app market made USD 4.94 billion in revenue, of which USD 3.1 billion
came from Match Group. Over 300 million people use dating apps worldwide, with
about 20 million paying for premium features. Tinder was the most downloaded
app in 2022, followed by Bumble, Tinder is the most popular dating app in the
United States and Europe.
Dating is one
of the fastest-growing verticals on mobile. In 2020, 270 million adults used
dating apps worldwide, which is almost double the number compared to 5 years
A dating app is
an application that enables people to meet for a date and possibly a lasting
relationship. For instance, several apps, such as Bumble, Coffee Meets Bagel,
eHarmony, Hinge, Match, OkCupid, WooPlus, and Tinder are designed to let people
view pictures and profiles of subscribers that the app's algorithm determines
are a possible match.
Dating Apps Market - Drivers and Trends
Ultimate Matchmaker in Digital Era:
Dating apps are
indeed tech companies leveraging technology to offer social values. The fast
uptake of newer technologies and digital transformation in every industry can
be seen in dating apps as well. Dating apps are now taking advantage of
cutting-edge software and technology, such as AI/ML, VR, and Metaverse to
provide a whole new experience in dating to its users. Some of these
technologies are playing a matchmaking role in dating lives:
- AI/ML: Earlier Tinder used an ELO
algorithm for matching profiles on the platform. It worked on a weightage system
where users with the most right swipes had a better probability of finding
matches quicker. It then now moved away from this and now relies on a
dynamic system that monitors the user behaviors on the platform through
their swiping patterns and what’s on their profiles. Although this dynamic
system could be all, AI and ML deployed by Tinder for matching profiles.
AI and ML are already creating efficient and smart business processes in
different industries. It has the potential to transform the dating industry
as well. The dating app Hinge employs machine learning as part of its
algorithm by suggesting the most compatible match to its users.
- 5G: Due to 5G's enhanced capacity,
dependability, and speed, dating applications are now able to include
additional video-based features. Although the OTT sector is the primary
gainer from 5G services. Yet 5G can also provide some advantages for
dating apps. For greater user engagement, dating apps now provide users
with buffer-free video calls, uninterrupted live streaming, Netflix
parties, etc. The market for dating applications worldwide is therefore
anticipated to grow during the forecast period.
- Blockchain: Full transparency and immutability
are the two guiding principles of blockchain technology. These two elements
may be crucial in confirming users' identities in dating applications
while also allowing for privacy. For instance, the German startup, Hicky,
was one of the first to release a dating app powered by blockchain in
2018. It was created to offer security and promote good user behavior. The
company encourages consumers to pick their acquaintances more carefully by
using a tokenized dating system. Also, the usage of blockchain-based
gaming mechanics and recommendation systems in dating apps is expanding quickly,
leading to an increase in demand for dating apps throughout the projection
Metaverse: For daters,
the Metaverse offers countless possibilities. For them, it unlocks the door to
an entirely new universe of opportunities. In the context of the metaverse,
dating is based on the concept of avatars, a highly developed expression of an
individual. It is not unusual for people to find fulfilling relationships on
virtual platforms like online gaming. But VR dating applications, such as
Flirtual and Planet Theta, add a substantial amount of body language into the
mix and give the impression of being physically present with others. Virtual
reality (VR) technology allows users to connect authentically with their mates
in innovative situations that are impractical to replicate in the physical
world. A person can go anywhere, go to any pub, and even play with unicorns on
a first date. Due to the widespread use of virtual reality and the metaverse,
the global market for dating apps is growing rapidly.
Communication Methods Enhance Experience
Nowadays, it is
obvious that dating apps need to look at new platforms and methods for people
to express themselves and give their personalities flair. The majority of
dating apps in the past used straightforward text messaging as the main form of
Dating apps are
now offering new opportunities for communication because this model of
engagement is becoming outdated. They included voice, in-app games and quizzes,
virtual events, various video applications that were first used during the
outbreak, and more. Even when they are unable to meet in person, these features
make it simpler for users to communicate with and establish rapport with
possible partners. As a result, it is anticipated that worldwide use of dating
apps will rise quickly in the years to come.
Significance of Authenticity:
challenging to come up with a better explanation of what most people anticipate
getting out of meeting someone online. Many used dating apps to portray an
idealized image of themselves in the past, meticulously choosing the most
flattering photos and developing the personality they believed would be most
appealing to others.
Users want to
view more actual, unaltered images and read profiles that represent people's
true personalities and interests as they place a greater priority on
authenticity and transparency in their online interactions. Even some apps
encourage users to post more authentic material, like films and tales that
highlight their daily lives and interests.
Genuine Connections and Relationships:
Generation Z are prepared to convert to in-real-life (IRL) dating since they
can't find "genuine love" online, making this one of the most
important trends in dating applications. The superficiality of online dating,
where people frequently portray a perfectly manicured picture of themselves
that does not accurately reflect who they are, has made many users dissatisfied
with it. People instead look for ways to develop true, meaningful relationships
applications that emphasize fostering deeper connections rather than simply
swiping through countless profiles have become popular as a result of this
trend. Users can identify others who share their values, hobbies, and
lifestyles by using powerful search filters, in-depth profiles, and personality
tests that are frequently included in these apps.
With new dating
trends on the skyline, it seems like people are becoming more self-aware and
getting a clearer understanding of who they want to date. Younger generations,
such as Gen Y and Gen Z, are leaning towards emotional maturity and want to
take things slow. Thanks to them, new dating terms emerge such as Dry Dating
and Women-First Dating. These users are no longer interested in the superficial
qualities of potential partners and want to be careful with total strangers.
people are craving meaningful relationships and want to find a soulmate. To
provide a top dating experience for their users, mobile publishers are now
adapting to these changes.
Some of them
are strengthening their discretion policy by setting boundaries between dates.
Others create niche apps to satisfy the emotional needs of different users.
Some apps in the dating category are going further and offer setting up
friendly connections alongside romantic relationships. Hence, the global dating
apps market is expected to grow at a higher pace during the forecast period.