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New market reports have revealed the Global Online Dating Market is expected to be “one of the most lucrative niches” after it predicted it will reach $23.80 million by 2032.
A report from Market.Us published last month showed the sector expanding at a compound growth rate of 9.2% from 2022-2033.
Social dating is also projected to have a commanding 37% revenue share over time.
Leading platforms like Tinder, Bumble, eHarmony, and Grindr were reported as ‘key players’ to the rapid increase of the Online Dating Market.
Figures showed the Asia-Pacific region made up 42.3% of the online dating market worldwide, with approximately $4.3 billion, and forecast to hold the largest Global Online Dating Market share.
The gender breakdown showed females reportedly use online dating services more with 32% of females using it compared to 23% of men. However, 11% of adults have financially invested into finding love through online dating apps.
But, the in-depth market researchers warned enhanced protective measures and education needs to be implemented to protect users with online dating scams costing victims more than $500 million each year.
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