Market Outlook for Online Dating Sites, Apps, and Services
Los Angeles, California – ( NewMediaWire ) – October 08, 2020 – When it comes to online dating, there has been a surge in what is being offered over the past 10 years. Throughout the world, the number of singles is now increasing. This could be due to multiple factors. The breakdown of traditional patterns of marrying out of high school and the number of career women has led to different demographics in this area. Also, people are being more selective and being offered more tools by which to be selective with. In the following article, we will explore why online dating is working and what it is all about.
Choices in the Sectors about Monogamy
It used to be that a person would be offended if someone presented themselves as not looking for monogamy. People would actively avoid these people and they would be labeled as bad. On the fringe, these individuals started getting their anthems as singers would talk about being branded just because they had sex and were only dating casually or not at all. The idea that monogamy wasn’t necessarily an end goal for many has gained traction with apps.
Now, with the click of a button, people can go from person to person choosing them based on looks. There are sites such as Tinder that make it clear that you’re not really looking for any other screening process other than physical attraction. While these sites may have led to relationships, many people refer to them as hook-up sites for good reason.
AI and other Matching Technology
Other sites such as eHarmony make you go through an algorithm. When you do, they will match you up with someone that you should go on dates with. Other sites like Christian Mingle will attempt to do the same thing, but for Christians. People are looking for others but they are pickier now. They can talk on the sites first and see if they even want to risk that first date. For some, the conversation is just as much of a screening process as the initial questionnaires.
Connectivity with a Click
There are even some online dating sites that are offering online video conferencing. It can be pricey to pay for this tier, but those who want to avoid awkward first dates and catfishing like to go through this process. Eventually, they will be left with a good idea if the person is the type of partner material that they wish to step out with.
How Much is the Industry Worth?
The industry is actually worth a lot. In 2017, it was valued at $6,400 million. However, by 2025, it is expected to jump to $9,202 according to a recent report. The projection is a 4.7% growth from 2018 to 2025. This sort of hike begs the question as to whether people are staying single longer now because they suddenly realize they have more choice? Certain platforms market themselves as hookup websites too, where their primary aim is to help people find casual encounters, flings, and one night stands.
What are the Key Industry Players?
Right now, there are major companies that have a stake in the dating game. These are Badoo, eHarmony, Grindr, Love Group Global, Match, Sparks Network, The Meet Group, Spice of Life, Zoosk, and rsvp.com.au. These are the organizations that dominate the industry.
What An App Can Do
Also, many of these platforms have apps for your phone. This means that you don’t have to be by a computer to write your potential crush. You can be coming home from work on the subway and just send a message. You can do all this without even having to give out personal details such as a phone number.
The connectivity that having access to people through phones provides is tantamount to the success of online dating platforms. In 2016, 44 million people in North America stayed active on dating sites. This alone shows the veracity of the industry.
The use of online dating sites and apps is more common than you think. Over 40% of the population has admitted to trying them out. Of this percent, 68% were males. This certainly shows that you can expect people to utilize this convenient tool more than ever in the past. The growth rate suggests that the numbers and the single population will only climb in later years.
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