Dating Services - Latvia | Statista Market Forecast

Revenue in the Dating Services market is projected to reach US$1.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.04%, resulting in a projected market volume of US$1.77m by 2028.
The Matchmaking market has a projected market volume of US$691.10k in 2024.
In global comparison, most revenue will be generated United States (US$2.55bn in 2024).
The average revenue per user (ARPU) in the Dating Services market is projected to amount to US$17.67 in 2024.
In the Dating Services market, the number of users is expected to amount to 98.6k users by 2028.
User penetration in the Dating Services market will be at 5.3% in 2024.

Definition:

Dating Services are generally characterized by their search functionality which enables its users to establish interpersonal relationships via the internet. This includes the focused search for life partners, flirts, or sexual partners. Both dating portals and apps are incorporated into the examination.

Structure:

The dating services market includes online dating platforms, matchmaking services, and casual dating sites. The Matchmaking market contains dating services for the systematic search for partners who are willing to enter into a long-term committed relationship by means of mathematical algorithms. The market of Online Dating is made up of online services that offer a platform on which its members can flirt, chat or fall in love. Two examples are Tinder and Bumble, these platforms focus on casual contact and easy flirting among their members. Casual Dating comprises online services for the establishment of sexually oriented contacts outside of romantic relationships.

Additional Information

Data includes revenue figures in Gross Merchandise Value (GMV), Users, average revenue per user (ARPU), and user penetration rate. User and revenue figures represent B2C services.

Matchmaking for the search for life partners such as Matrimony.com
Online Dating for easy flirting and chatting such as Tinder and Bumble
Casual Dating for the search for non-committal sex such as Ashley Madison

Niche dating, such as portals or apps for vegetarians
Offline dating agencies
Speed dating or similar events for singles

The Dating Services market in Latvia has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the dating services market in Latvia have shifted towards online platforms. With the increasing use of smartphones and the internet, more people are turning to online dating apps and websites to find potential partners. This trend is not unique to Latvia, as it is seen worldwide. The convenience and accessibility of online dating platforms have made them popular among individuals of all ages. Trends in the market indicate that there is a growing demand for niche dating services in Latvia. People are looking for platforms that cater to specific interests or demographics, such as religious dating, senior dating, or LGBTQ+ dating. This trend reflects the desire for more personalized and targeted dating experiences. Niche dating services are able to provide a more tailored approach to matchmaking, which appeals to many individuals in Latvia. Local special circumstances also contribute to the development of the dating services market in Latvia. The country has a relatively small population compared to other European countries, which can make it challenging for individuals to find compatible partners through traditional methods. Online dating platforms offer a wider pool of potential matches, increasing the chances of finding a suitable partner. Additionally, the fast-paced and busy lifestyles of many Latvians make it difficult to meet new people in person, further driving the demand for online dating services. Underlying macroeconomic factors also play a role in the growth of the dating services market in Latvia. The country has experienced economic growth in recent years, leading to increased disposable income for many individuals. This allows them to spend more on leisure activities, including dating services. Additionally, the younger generation in Latvia is more open to the idea of online dating compared to previous generations, further fueling the market growth. In conclusion, the Dating Services market in Latvia is developing due to customer preferences for online platforms, the demand for niche dating services, local special circumstances such as a small population and busy lifestyles, and underlying macroeconomic factors such as economic growth and changing attitudes towards online dating.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.