Online dating services are becoming popular with every passing day as they offer a wonderful opportunity for anyone to find a suitable match for him. Many different dating apps and websites are available these days for choosing the right love partner for life.
And the high use of online dating platforms is leading to a hike in the growth of the online dating industry. According to Statista, online dating services revenue is expected to witness a growth at a CAGR of 9.3% during the time period, 2020-24. This is expected to take the total revenue of this industry to around US$2025 Mn by 2024.
It is found that the user penetration is expected to reach 2.6% in 2020 and it is likely to hit 3.6% in 2024. The available data shows that the revenue in the online dating segment is about to reach US$1,754m in 2020. Out of all the countries, the US is expected to contribute the most in the growth of online dating services in 2020.
Due to the increasing digitization, it has become possible for online dating services to reach people with ease. Moreover, the use of advanced marketing technologies has made it possible for service providers to attract more people in an easy manner.
And for people, it is possible to find a suitable life partner by using free dating apps and websites on their smartphones with ease. One can even follow a millionaire dating guide to find a financially secure partner for him. It is observed that more young people are now choosing online dating platforms to choose their romantic partners because it allows them to find the right match with ease.