Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Executive Summary
Azoth Analytics has released a research report titled "United States Dating Application Market (2023 Edition)" which provides a complete analysis of the U.S. Dating Application industry in terms of market segmentation By Age Group (18-25 years, 25-34 years, 35-50 years, Above 50 years), By Subscription Plan (Annually, Quarterly, Monthly) and By Gender (Male, Female).
The research study also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution. The research study has complete insights in nature and covers a detailed analysis of the United States Market. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
During the forecast period, 2023-2028, the United States Dating Application Market is expected to expand at a CAGR of 6%. The rise in internet users and a significant increase in the number of single people in the US are driving the market for dating apps. People are going online more frequently as technology evolves quickly. A large part of the increase in online daters is attributed to modern dating applications.
The United States Dating Application Market is expected to generate USD 5057.82 million by the end of 2028, up from USD 3378.58 million in 2021. As internet usage has spread throughout the nation, the market for online dating services has expanded significantly. Service providers now have a tremendous opportunity to build their target audience by developing features that are especially suited to their needs.
Every facet of modern life is now affected by the Internet in some way, from politics and business to culture and entertainment in North America, where Internet usage is at its greatest. Undoubtedly, dating apps are now a popular way for people to find loving partners. The U.S. is helping the market revenue to increase in a favourable way. One of the factors fueling market expansion is the availability of reputable dating apps like Tinder, Bumble, Badoo, and others. For instance, in North America, Match Group's online dating service providers had an average of 4.1 million users in 2018; this number rose to 4.9 million by 2020. The Tinder, Hinge, BLK, and Chispa applications were significantly responsible for the increase in average subscribers in North America.
Due to increased consumer expectations, the main players in the market are continuously attempting to develop and provide their users with innovative, personalized services, which further exemplifies the potential for the market for online dating services to grow rapidly. Beyond the current customer base, dating apps profit from emerging markets, rising millennial buying power, young people putting off life milestones like marriage and property ownership, as well as longer hours worked by young people. All of these factors are on top of how widespread broadband internet is becoming as well as how legitimate and accepted online dating is becoming. Few people would be amazed to find out that young adults use online dating, but they might be when discover that those in their late 50s and 60s also use it frequently. Users are required to take personality tests and personal narratives on websites and applications like Match.com and OkCupid before their profiles may be matched based on compatibility. Apps like Tinder, Hinge, and Bumble, on the other hand, do away with these surveys and essays in favour of asking users to connect their other social media accounts (Facebook, Spotify, Instagram).
Intimate relationships and sexuality are being significantly altered by dating apps. They make it possible for people to connect in enjoyable, powerful ways who otherwise might not have done so. However, the unpredictable, fleeting nature of these relationships can frequently leave users feeling extremely dissatisfied with what the modern digital landscape has to offer in terms of romance and fulfilling sociosexual experiences. Although it is uncertain how the future generation of dating applications will look, researchers and computing experts are working together more frequently in order to carve out a role in this competitive lucrative sector.
This study also provides a competitive landscape of the industry and profiles leading players in the United States Dating Application Market including Match Group, Inc., Bumble Inc., Spark Networks SE, eHarmony, Clover Inc. and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the United States Dating Application Market, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Scope of the Report
• The report presents the analysis of the United States Dating Application Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
• The report analyses the of United States Dating Application Market By Age Group (18-25 years, 25-34 years, 35-50 years, Above 50 years).
• The report analyses the United States Dating Application Market By Subscription Plan (Annually, Quarterly, Monthly).
• The report analyses the United States Dating Application Market By Gender (Male, Female).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analyzed in the report include Match Group, Inc., Bumble Inc., Spark Networks SE, eHarmony, Clover Inc.
Key Target Audience
• Online Dating Companies
• Consulting and Advisory Firms
• Government and Regulatory Authorities
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