Dating Services Market Sample Market Research Report
Goal: Uncover Online Dating Industry Insights for Market Entry
Intended for a client in the exploratory stages of launching an online dating service, this project was designed to examine the market landscape and inform potential market entry.
The Scope: Provide Market Projections & Challenges with Competitive Intel and Demographic Trends
The report addressed the market size and competitive landscape, in addition to demographic trends, potential disruptors, and projected market growth.
With ever-improving technological advancements, and the ubiquity of smartphones, the online dating industry has been provided with a new platform to offer its services. As a result, industry demographics are expanding. While millennials dominate the industry, older generations are a viable target for players, as smartphones expand exposure and stigmas around online dating recede.
The market for online dating services is highly competitive with low barriers to entry and medium concentration. However, potential entrants need to consider several major trends. The largest player, Match Group, has increased market share by expanding its services through additional brands. As a result, these brands have captured the majority of the market.
In addition, an increasing burden of compliance and regulatory initiatives are being set in place, resulting in additional costs for players. While the overall market revenue is forecast to continue its expansion through 2022, the rate of growth is expected to slow in the intervening years.
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