Matchmaking - Azerbaijan

Azerbaijan

Highlights

Revenue in the Matchmaking market is projected to reach US$1.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -1.16%, resulting in a projected market volume of US$1.65m by 2028.
In the Matchmaking market, the number of users is expected to amount to 37.9k users by 2028.
User penetration will be 0.4% in 2024 and is expected to hit 0.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$43.30.
In global comparison, most revenue will be generated China (US$1.21bn in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest South Korea.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Matchmaking market in Azerbaijan has been experiencing steady growth in recent years, driven by changing customer preferences and the increasing popularity of online dating platforms. Customer preferences in Azerbaijan have shifted towards a more modern and convenient approach to finding romantic partners. Traditionally, arranged marriages were common in Azerbaijan, with families playing a significant role in the matchmaking process. However, with the influence of Western culture and the rise of technology, young people are now seeking more autonomy in their romantic lives. They are increasingly turning to online dating platforms and matchmaking services to find compatible partners. These platforms offer a wider pool of potential matches and allow individuals to connect with others based on shared interests and values. The increasing popularity of online dating platforms in Azerbaijan is a key trend in the market. These platforms provide a convenient and efficient way for individuals to meet and connect with potential partners. They offer a range of features such as profile creation, messaging, and advanced search filters, allowing users to customize their search for a compatible partner. The availability of mobile dating apps has further accelerated the growth of the online matchmaking market in Azerbaijan, as it allows users to access these platforms on the go. Local special circumstances in Azerbaijan also contribute to the growth of the matchmaking market. The country has a relatively young population, with a significant portion of the population being of marriageable age. Additionally, there is a strong emphasis on family and marriage in Azerbaijani culture, which creates a demand for matchmaking services. Underlying macroeconomic factors also play a role in the development of the matchmaking market in Azerbaijan. The country has experienced economic growth in recent years, leading to an increase in disposable income for many individuals. This has enabled more people to afford membership fees or subscription plans for online dating platforms. Additionally, the growing internet penetration rate in Azerbaijan has made online dating more accessible to a larger segment of the population. In conclusion, the Matchmaking market in Azerbaijan is experiencing growth due to changing customer preferences, the increasing popularity of online dating platforms, local cultural factors, and underlying macroeconomic factors. As technology continues to advance and societal norms evolve, it is likely that the matchmaking market in Azerbaijan will continue to expand in the coming years.

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.