Matchmaking - Uganda

Uganda

Highlights

Revenue in the Matchmaking market is projected to reach US$3.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.74%, resulting in a projected market volume of US$3.62m by 2028.
In the Matchmaking market, the number of users is expected to amount to 236.8k 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$16.93.
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 Uganda is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the matchmaking market in Uganda have shifted towards online platforms and mobile applications. With the increasing penetration of smartphones and internet connectivity, more people are turning to digital platforms to find potential partners. This preference for online matchmaking services can be attributed to the convenience, wider reach, and anonymity they offer. Additionally, customers are seeking more personalized and tailored matchmaking experiences, with a focus on compatibility and shared values. Trends in the market indicate a growing acceptance and openness towards matchmaking services in Uganda. Traditionally, matchmaking was primarily done through family and community networks. However, with changing societal norms and increased urbanization, there has been a shift towards more modern and individualistic approaches to finding a partner. This has led to the rise of professional matchmaking agencies and online platforms that cater to the specific needs and preferences of individuals. Local special circumstances in Uganda, such as a high population growth rate and a young demographic, contribute to the development of the matchmaking market. The country has one of the highest population growth rates in the world, resulting in a large pool of potential customers seeking matchmaking services. Additionally, Uganda has a young population, with a significant portion of the population being of marriageable age. This creates a favorable market for matchmaking services, as young adults are actively seeking long-term relationships and marriage. Underlying macroeconomic factors also play a role in the development of the matchmaking market in Uganda. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and a growing middle class. As people become more financially stable, they are more willing to invest in matchmaking services to find compatible partners. Furthermore, increased urbanization and migration to cities have resulted in changing social dynamics, making it harder for individuals to find suitable partners through traditional methods. This has created a demand for matchmaking services that cater to the specific needs of urban dwellers. In conclusion, the matchmaking market in Uganda is experiencing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards online platforms, growing acceptance of matchmaking services, high population growth rate, young demographic, and favorable macroeconomic conditions all contribute to the thriving market in Uganda.

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.