Matchmaking - Zambia

Zambia

Highlights

Revenue in the Matchmaking market is projected to reach US$1.07m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of NaN%, resulting in a projected market volume of US$-183.70k by 2028.
In the Matchmaking market, the number of users is expected to amount to 96.0k 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$12.33.
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 Zambia has been experiencing significant growth in recent years. Customer preferences have shifted towards online platforms, leading to the emergence of numerous matchmaking websites and apps. This trend is driven by the increasing use of smartphones and internet access, as well as changing societal attitudes towards online dating.

Customer preferences: Zambian customers have shown a growing preference for online matchmaking platforms. This is primarily due to the convenience and accessibility they offer. Online platforms allow individuals to browse through potential matches at their own pace and from the comfort of their own homes. This is especially appealing in a country like Zambia, where traditional matchmaking methods may be limited in terms of options and opportunities for interaction.

Trends in the market: The rise of online matchmaking platforms has led to increased competition in the market. As a result, companies are constantly innovating and improving their services to attract and retain customers. This has led to the introduction of features such as advanced matching algorithms, video chat capabilities, and personalized recommendations. Additionally, there has been a growing focus on niche markets, with platforms catering to specific demographics or interests.

Local special circumstances: Zambia is a country with a relatively young population, and this demographic trend has influenced the development of the matchmaking market. Young adults in Zambia are increasingly turning to online platforms to find potential partners, as they may not have as many opportunities for socializing and meeting new people in their daily lives. This has created a strong demand for matchmaking services that cater to this demographic.

Underlying macroeconomic factors: The growing popularity of online matchmaking platforms in Zambia can also be attributed to the country's improving economic conditions. As the economy has grown, more people have gained access to smartphones and the internet, making it easier for them to participate in online dating. Additionally, changing societal attitudes towards online dating have also played a role in the market's development. As more people become comfortable with the idea of meeting potential partners online, the demand for matchmaking services has increased. In conclusion, the Matchmaking market in Zambia has experienced significant growth in recent years, driven by customer preferences for online platforms and the increasing accessibility of smartphones and internet access. The market is characterized by intense competition and a focus on innovation and niche markets. The young demographic in Zambia has also contributed to the market's development, as young adults turn to online platforms to find potential partners. The improving economic conditions and changing societal attitudes towards online dating have further fueled the market's growth.

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.