Online Dating - Panama

Panama

Highlights

Revenue in the Online Dating market is projected to reach US$1.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.46%, resulting in a projected market volume of US$2.26m by 2028.
In the Online Dating market, the number of users is expected to amount to 299.8k users by 2028.
User penetration will be 5.1% in 2024 and is expected to hit 6.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$7.26.
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 Panama has experienced significant growth in recent years, driven by changing customer preferences and increased internet penetration in the country. Customer preferences in the Online Dating market in Panama have shifted towards convenience and efficiency. With busy lifestyles and limited time for traditional dating methods, more people are turning to online platforms to meet potential partners. The ease of creating a profile and the ability to browse through a large pool of potential matches have made online dating an attractive option for Panamanians. Additionally, the anonymity provided by online platforms allows individuals to be more open and honest about their preferences and intentions, leading to more successful matches. Trends in the market show a growing acceptance and normalization of online dating in Panama. In the past, there was a stigma attached to meeting someone online, but this perception has gradually changed. As more success stories emerge and online dating becomes more mainstream, people are becoming more comfortable with the idea of finding love online. This trend is further fueled by the increasing number of success stories and happy couples who met through online dating platforms. Local special circumstances also play a role in the development of the Online Dating market in Panama. The country's relatively small population and close-knit communities create limited opportunities for meeting new people, especially for individuals living in rural areas. Online dating provides a solution to this challenge by connecting people from different parts of the country and expanding their social circles. Furthermore, Panama's diverse population, which includes expatriates and foreigners, contributes to the demand for online dating platforms that cater to specific interests and preferences. Underlying macroeconomic factors, such as increasing internet penetration and smartphone adoption, have also contributed to the growth of the Online Dating market in Panama. As more people gain access to the internet and smartphones, the potential customer base for online dating platforms expands. Furthermore, the availability of affordable data plans and improved internet infrastructure have made it easier for people to access online dating platforms and engage in conversations with potential matches. In conclusion, the Online Dating market in Panama is experiencing growth due to changing customer preferences, increasing acceptance of online dating, local special circumstances, and underlying macroeconomic factors. As more people in Panama seek convenient and efficient ways to meet potential partners, online dating platforms are likely to continue to thrive in the country.

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.