Market Trends of North America Online Dating Services Industry
This section covers the major market trends shaping the North America Online Dating Services Market according to our research experts:
Rapid innovation in service offerings is driving the market growth
- Online dating has become such a popular pastime, down to how technology has made this a convenient socializing platform. Singles can choose from thousands of websites or apps, which can be accessed via a web browser, allowing instant access to prospective partners.
- The matching feature is integral for any dating app. Artificial IntelligenceIntelligence makes the matching process much more tailored, accurate, and personalized. Before, in a dating application. The technology also helps to improve app security, as well as prevent fraud activities.
- The platforms people use to seek out romantic partners have evolved throughout history. This evolution has continued with the rise of online dating sites and mobile apps. For example, Tinder uses VecTec, a machine-learning algorithm paired with artificial Intelligence to generate personalized recommendations. The app uses ML to screen for potentially offensive messages automatically.
- The key market players are constantly working to create and provide new, personalized services to their users due to the rising consumer expectations, which further illustrates the potential for the market for online dating services to expand soon. Companies are expanding their services to cater to the increasing consumer needs, which has led to the integration of additional services on their platforms to attract more customers and gain traction in the market, positively impacting the market growth.
- For example, Tinder company owner Match Group has recently announced its quarterly dating revenue of the Match Group from the first quarter of 2018 to the first quarter of 2021. North American revenue amounted to USD 326.83 million in the most recently measured period. Match Group, formerly owned by IAC, owns and operates online dating platforms such as the eponymous Match.com, OkCupid, Tinder, PlentyofFish, and others.
- Technology made online dating completely safe because AI keeps all the threats away. Most risks members of online dating sites face today aren't coming from. Internet dating gives the whole notion of dating and loves a dehumanizing state. The time-saving, efficient nature of online dating has become more important than actually finding a partner. Dating technology used in various apps ensures that the problem of finding a good match is eradicated. Unlike good old dating, these apps use relevant criteria like age, sexual preference, interests, and hobbies to find the perfect match, Location-based matching.
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Growing Penetration of Smartphones and Mobile Devices in the United States
- The mobile revolution has significantly changed the American digital ecosystem. Over the past few decades, mobile devices have become a daily necessity for millions of American consumers, who use them for communication, information, and entertainment. Due to the rising popularity and accessibility of web-enabled smartphones and tablets, the number of mobile internet users in the United States has steadily increased, reaching an all-time high.
- Online dating has become the norm in the U.S. these days. Young, tech-savvy singles have embraced swiping for local dates, and it's become the most popular way to meet a future spouse in the U.S. According to Pew Research, a nonpartisan American think tank, younger age groups in the United States are the ones who own smartphones the most frequently. While 95% of adults between 18 and 49 have a smartphone, only 61% of adults 65 and older are smartphone owners.
- Social media dating service advertising is becoming more popular, assisting the market's expansion. To meet the demands of social media users worldwide, the social media landscape in the United States of America is constantly evolving, with new websites and applications appearing every day.
- The increasing number of adults having a smartphone has led the market to grow substantially. Furthermore, the percentage of U.S. adults who own a smartphone has more than doubled since 2011. According to Pew Research, only 35% of all U.S. adults owned a smartphone in 2011, compared to 85% of adults who owned a smartphone as of February 2021. The share of U.S. adults owning a smartphone increased by 50% over the highlighted period.
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