By the end of 2023, the dating app segment is poised to mint a whopping US $397.90 million, marking an incredible milestone in the industry’s growth. Let’s find out more about it.
In the past, forming a relationship with someone, even after having true feelings, was a difficult and often risky endeavour. Fear and societal constraints prevented millions of individuals from expressing their love, leaving their affection incomplete.
Gone are the days when individuals could connect at social gatherings such as functions, weddings, festivals, or the workplace. With the arrival of the internet and smartphones, accessibility to people and information has significantly increased. In honour of Valentine’s Day, we will dive deep into India’s booming market of dating apps.
The trend of online dating is increasing rapidly in India. People use dating apps in large numbers in search of friendship and love. You must have also heard about Glidden, a French extra-marital dating app. It had published a report which said that its app is used by 2 million (20 lakhs) Indian users, which accounts for 20% of people using the app.
If 20 lakh Indians are using a french app, imagine the number of Indian users using Indian dating apps!
The use of dating apps in India is no longer limited to metros. According to a report by Livemint, even youth from small towns are now trusting dating apps to find love and companionship. The number of users has also increased rapidly in small towns. According to the report, the share of users outside metros cities in the app has now reached 70%. Moreover, women make up the largest number of users using these dating platforms.
The Dating Market in India
- According to an article by ABP news, more than 30 million people in India use dating apps. Of these, 67% of the users are male, and 33% are female.
- Subscriptions to dating apps in India generate more than Rs 500 crore yearly.
- As of the current date, there are over 20 million paid subscribers of dating apps in India.
- Additionally, it has been observed that a growing number of users belong to the post-millennial demographic (born after 2000).
Worldwide Dating Service
According to Statista, by the end of 2023, the United States will have the highest percentage of its population using online dating services, with a staggering 21.9%. This online dating trend will also rapidly gain popularity in European countries such as the United Kingdom and France.
India will have a lower penetration rate of 5.8%. This means that 5.8% population of India will use an online dating app, which is much larger than European countries as India is the most populated country in the world; hence the industry will generate significant revenue, outpacing many European countries.
More and more people are looking for partners with the help of dating apps and platforms. Online dating apps are expected to have 441 million active users worldwide by the end of 2023. Approximately $8.7 billion in revenue is estimated to be generated through dating services.
If we talk about India, the dating services segment in India is estimated to reach US$ 397.90 million by the end of 2023. Also, by 2027, the number of users is expected to reach 115.3 million.
A Quick Takeaway
Finding love online has become a popular option for many, but it’s important to be mindful of the risks involved. With the growing use of online dating apps, we’ve seen an increase in related crimes, so it’s crucial to take steps to protect yourself. When using these platforms, keep an eye on your privacy and be careful about who you trust. Just remember to be cautious while searching for your soulmate!