Advances in technology have altered the way we live, play, work, and shop. Even dating is no longer the same. Dating app creation Today, millions of individuals use online dating applications, and the number is continually increasing.
Market Size of the Online Dating Industry
According to IBISWorld, dating services in the United States will be a $3 billion a year company in 2020, up from $2 billion the previous year. Around 15% of US people, or over 50 million Americans, have used or continue to use websites or mobile dating apps in their search for love. While these figures are encouraging, it's worth noting that some analysts predict that revenue growth in the business would decrease through 2022. Others, on the other hand, believe that revenue will increase by 25% by 2024.
Some Surprising Statistics About the Current Dating App Market
Global Dating App Revenue in 2015 was $1.69 billion, and it is expected to climb to $3.08 billion by 2020.
In 2015, there were 185 million global dating app users, which is expected to rise to 270 million by 2020.
Tinder has a market share of 55 million in the global dating app market.
Tinder has a 7.8 million market share in the US dating app market.
In 2025, the global dating app revenue is expected to be $5.71 billion.
Various Sorts of Dating Apps
In general, dating apps are classed using the same parameters that online dating sites use to connect people. The majority of dating applications on the market are classified into four types:
Conventional Dating Apps: Traditional dating apps are comparable to traditional dating websites in that they provide user profiles for users to choose from. Based on the information you see, you can decide whether or not the profile is suitable for you. OkCupid and eHarmony are two traditional dating applications.
Matching-Algorithm Based: Dating apps like Match, Zoosk, and eHarmony ask users to fill out a questionnaire with details about their interests, hobbies, preferred relationship types, lifestyle, and so on when they sign up, and then use machine learning algorithms to find the best matching profiles.
Location-Based Dating Apps: Location-based dating apps let you find individuals in your area to interact with and go on dates with. Users of location-based dating applications specify a radius around their location to find the ideal match, and the software filters eligible profiles for them to choose from. This technology is used in apps such as Bumble, Tinder, and OkCupid.
Hornet, The League, HER, Ourtime, and JDate are examples of niche-based dating applications that target certain user groups such as sexual minorities, elderly people, specific ethnic groups, or inside social circles. Although such apps have a limited audience, they provide a superior experience to particular categories of users. Furthermore, the user base is willing to pay extra for such an outstanding experience.
Why Are Dating Apps Useful?
Given the overall prominence of dating apps, it would be more appropriate to highlight three primary features that allow such apps to thrive and be popular.
Quick and Effective
When users are on the go, dating apps allow them to obtain quick access to their accounts. People can form relationships on the fly as life becomes more flexible. Apps, as opposed to websites, provide consumers more freedom and constant access. If we develop a dating app, users would be able to look for a soulmate wherever they are at the time.
Excellent for Busy Folks and Introverts
It enables such people to constantly make time to meet an interesting person. Some people genuinely live and breathe their jobs. They want to form new relationships, they want to love and be loved, but they just do not have the time to travel to different locations to meet someone.
Find a Soulmate in your Area
It indicates that the user will not only meet someone, but a new friend may also live within 1 mile of him or her. The majority of dating apps provide users with a geolocation option that allows them to find someone nearby.
If you want to know more about dating app development solutions, contact us today for a free quotation.
