Online Dating - Iceland

Iceland

Highlights

Revenue in the Online Dating market is projected to reach US$445.50k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.79%, resulting in a projected market volume of US$497.40k by 2028.
In the Online Dating market, the number of users is expected to amount to 25.4k users by 2028.
User penetration will be 6.7% in 2024 and is expected to hit 7.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$19.05.
In global comparison, most revenue will be generated United States (US$1.39bn in 2024).
With a projected rate of 17.9%, the user penetration in the Online Dating market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Dating market in Iceland has witnessed significant growth in recent years, driven by changing customer preferences and the increasing use of technology in dating.

Customer preferences: Icelandic customers have shown a growing interest in online dating platforms, as they offer a convenient and efficient way to meet potential partners. The traditional dating scene in Iceland is relatively small, with a limited number of social venues and a small population. This has led many people to turn to online dating as a way to expand their dating pool and increase their chances of finding a compatible match.

Trends in the market: One of the key trends in the Icelandic online dating market is the rise of niche dating platforms. These platforms cater to specific interests or demographics, such as religious or ethnic communities, and provide a more targeted approach to dating. This trend reflects the increasing demand for personalized and specialized services in the online dating industry. Another trend in the market is the growing popularity of mobile dating apps. With the widespread use of smartphones and the convenience they offer, more and more people in Iceland are using dating apps to connect with potential partners. These apps provide a seamless and user-friendly experience, allowing users to browse through profiles and communicate with matches on-the-go.

Local special circumstances: Icelandic society places a strong emphasis on equality and gender equality, which is also reflected in the online dating market. Many dating platforms in Iceland promote themselves as inclusive and gender-neutral, allowing users to express their identities and preferences freely. This focus on inclusivity has resonated with the Icelandic population and has contributed to the growth of the online dating market.

Underlying macroeconomic factors: The growth of the online dating market in Iceland is also influenced by broader macroeconomic factors. Iceland has a relatively high level of internet penetration, with a large portion of the population having access to the internet. This has created a favorable environment for online dating platforms to thrive and reach a wide audience. Additionally, Iceland has a high level of disposable income, which allows individuals to invest in dating services and subscriptions. The willingness to spend on online dating reflects the value that Icelandic customers place on finding meaningful relationships and connections. In conclusion, the Online Dating market in Iceland has experienced significant growth due to changing customer preferences, the rise of niche dating platforms, the popularity of mobile dating apps, the focus on inclusivity, and favorable macroeconomic factors. As technology continues to advance and society becomes more connected, the online dating market in Iceland is expected to continue its upward 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.