Matchmaking - Cameroon

Cameroon

Highlights

Revenue in the Matchmaking market is projected to reach US$2.38m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.35%, resulting in a projected market volume of US$2.83m by 2028.
In the Matchmaking market, the number of users is expected to amount to 101.7k users by 2028.
User penetration will be 0.3% in 2024 and is expected to hit 0.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$24.99.
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 Cameroon is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Matchmaking market in Cameroon are shifting towards online platforms and mobile applications. This is primarily due to the increasing penetration of smartphones and internet connectivity in the country. Customers are now looking for convenient and efficient ways to find potential partners, and online platforms offer a wide range of options and features to cater to their needs. Additionally, the younger generation in Cameroon is more open to the idea of online matchmaking, further driving the demand for these services. Trends in the market include the rise of niche matchmaking platforms catering to specific demographics or interests. As the market becomes more competitive, companies are focusing on targeting specific customer segments to differentiate themselves and attract a loyal user base. For example, there are now platforms that cater specifically to professionals, religious groups, or individuals with specific hobbies or interests. This trend is driven by the desire for more personalized matchmaking experiences and the need to stand out in a crowded market. Local special circumstances also play a role in the development of the Matchmaking market in Cameroon. The country's cultural and social norms heavily emphasize the importance of marriage and family. As a result, there is a strong demand for matchmaking services that can help individuals find suitable partners for long-term relationships and marriage. This cultural context creates a favorable environment for matchmaking companies to thrive and expand their services. Underlying macroeconomic factors, such as the country's economic growth and increasing urbanization, also contribute to the development of the Matchmaking market in Cameroon. As the economy grows and more people move to urban areas, there is a greater need for matchmaking services to connect individuals who may not have traditional social networks or community connections. Additionally, the rise of the middle class in Cameroon has increased disposable income and spending power, allowing more people to afford matchmaking services. In conclusion, the Matchmaking market in Cameroon is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Online platforms and mobile applications are becoming increasingly popular, niche matchmaking platforms are on the rise, and cultural norms and economic factors contribute to the demand for matchmaking services. As the market continues to evolve, companies in the industry will need to adapt and innovate to meet the changing needs of customers in Cameroon.

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.