Matchmaking - Bolivia

Bolivia

Highlights

Revenue in the Matchmaking market is projected to reach US$3.55m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.71%, resulting in a projected market volume of US$3.95m by 2028.
In the Matchmaking market, the number of users is expected to amount to 70.6k users by 2028.
User penetration will be 0.6% in 2024 and is expected to hit 0.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$52.10.
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 Bolivia is experiencing significant growth and development. Customer preferences are shifting towards online platforms and mobile applications, which provide convenience and accessibility. This trend is driven by the increasing use of smartphones and the internet in Bolivia. Additionally, local special circumstances, such as the cultural importance of relationships and the desire for companionship, also contribute to the growth of the matchmaking market. Customer preferences in Bolivia are increasingly leaning towards online matchmaking platforms and mobile applications. This is due to the convenience and accessibility they offer. Online platforms allow individuals to connect with potential partners from the comfort of their own homes, eliminating the need for traditional matchmaking methods. Mobile applications further enhance this convenience by enabling users to access matchmaking services on the go. The growing popularity of smartphones in Bolivia has made these applications more accessible to a larger segment of the population. The trend towards online matchmaking platforms and mobile applications in Bolivia mirrors the global market. In Worldwide, the matchmaking market has seen a shift towards digital platforms in recent years. This is driven by the increasing use of technology and the internet in everyday life. People are becoming more comfortable with using online platforms for various purposes, including finding romantic partners. The convenience and efficiency of digital matchmaking services are appealing to individuals who lead busy lifestyles and may not have the time or opportunity to meet potential partners through traditional methods. In addition to global trends, local special circumstances also contribute to the growth of the matchmaking market in Bolivia. The cultural importance of relationships and the desire for companionship play a significant role in driving the demand for matchmaking services. Bolivian society places a strong emphasis on family and relationships, and finding a compatible partner is highly valued. Matchmaking services provide a platform for individuals to connect with like-minded individuals and potentially form meaningful relationships. Underlying macroeconomic factors also contribute to the growth of the matchmaking market in Bolivia. The steady economic growth and increasing disposable income in the country have led to a rise in consumer spending on leisure activities. As individuals have more disposable income, they are more willing to invest in matchmaking services to enhance their chances of finding a compatible partner. Additionally, the increasing urbanization and changing social dynamics in Bolivia have created a demand for alternative methods of meeting potential partners. Matchmaking services provide a solution to this demand by offering a convenient and efficient way to connect with others. Overall, the matchmaking market in Bolivia is developing and expanding due to customer preferences for online platforms and mobile applications, as well as local special circumstances and underlying macroeconomic factors. As technology continues to advance and the importance of relationships remains a cultural priority, the matchmaking market in Bolivia is expected to continue its growth trajectory.

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.