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Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: India, South Korea, China, Asia, United States
The Matchmaking market in Singapore has been experiencing significant growth in recent years.
Customer preferences: There are several reasons why individuals in Singapore are increasingly turning to matchmaking services. One key factor is the busy and fast-paced lifestyle that many Singaporeans lead. With long working hours and a highly competitive work environment, many people find it difficult to allocate time for socializing and meeting potential partners. As a result, they are more inclined to seek the help of professional matchmakers who can efficiently connect them with compatible individuals.
Trends in the market: One notable trend in the matchmaking market in Singapore is the growing popularity of online matchmaking platforms. These platforms provide a convenient and efficient way for individuals to connect with potential partners. With the advancement of technology and the widespread use of smartphones, online matchmaking apps have become increasingly accessible and user-friendly. This has led to a surge in the number of people using these platforms to find love and companionship. Another trend in the market is the rise of niche matchmaking services. Instead of catering to a broad range of individuals, these services focus on specific demographics or interests. For example, there are matchmaking services that cater specifically to professionals, expatriates, or individuals with specific religious or cultural backgrounds. This trend reflects the increasing demand for personalized matchmaking experiences that cater to the unique needs and preferences of individuals.
Local special circumstances: Singapore is a multicultural society with a diverse population. This diversity is reflected in the matchmaking market, with matchmakers offering services that cater to different ethnic, religious, and cultural backgrounds. This is particularly important in a society where individuals often prioritize finding partners who share similar values and beliefs. Additionally, Singapore has a high population of expatriates and foreign workers. This has created a demand for matchmaking services that cater to this specific group of individuals. Expatriate matchmaking services often focus on connecting individuals who share similar experiences and cultural backgrounds, making it easier for them to form meaningful connections in a foreign country.
Underlying macroeconomic factors: Singapore has a strong and stable economy, with a high GDP per capita. This has contributed to a higher disposable income among Singaporeans, allowing them to invest in services such as matchmaking. The stable economy also provides individuals with a sense of security and confidence in their ability to find a suitable partner, further driving the demand for matchmaking services. Furthermore, Singapore has a high level of education and a well-developed social infrastructure. This creates a conducive environment for individuals to seek out professional matchmaking services as they are more likely to value the expertise and guidance of matchmakers in finding compatible partners. In conclusion, the matchmaking market in Singapore is thriving due to customer preferences for convenient and personalized matchmaking experiences, the rise of online matchmaking platforms, and the diverse population and special circumstances of the country. These trends are supported by underlying macroeconomic factors such as a strong economy and a well-developed social infrastructure.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)