Online Dating - Sri Lanka

Sri Lanka

Highlights

Revenue in the Online Dating market is projected to reach US$4.87m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.11%, resulting in a projected market volume of US$5.95m by 2028.
In the Online Dating market, the number of users is expected to amount to 1.5m users by 2028.
User penetration will be 5.3% in 2024 and is expected to hit 6.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$4.20.
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 Sri Lanka has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of online platforms for social interaction. Customer preferences in Sri Lanka have shifted towards online dating as a convenient and efficient way to meet potential partners. With the advent of smartphones and affordable internet access, more and more Sri Lankans are turning to online dating platforms to find love and companionship. This trend is in line with the global market, where online dating has become increasingly popular due to its convenience and accessibility. One of the key trends in the Sri Lankan online dating market is the rise of niche dating platforms catering to specific demographics or interests. These platforms allow users to find like-minded individuals who share similar values, hobbies, or cultural backgrounds. This trend reflects the growing demand for more personalized and targeted dating experiences, as users seek to connect with others who share their interests and values. Another trend in the market is the increasing adoption of mobile dating apps. As smartphone penetration continues to rise in Sri Lanka, more people are using mobile apps to access online dating services. Mobile apps offer a convenient and user-friendly interface, allowing users to browse profiles and connect with potential matches on the go. This trend is in line with the global shift towards mobile-first experiences, as people increasingly rely on their smartphones for social interactions. In addition to customer preferences, there are also local special circumstances that contribute to the development of the online dating market in Sri Lanka. Traditional cultural norms and societal expectations around dating and relationships have been evolving, particularly among the younger generation. As more young Sri Lankans embrace modern dating practices, there is a growing acceptance of online dating as a legitimate way to meet potential partners. Underlying macroeconomic factors also play a role in the growth of the online dating market in Sri Lanka. The country's improving economic conditions and rising disposable incomes have led to increased spending on leisure activities, including online dating. As people have more disposable income, they are more willing to invest in online dating services to enhance their social lives and find meaningful connections. Overall, the Online Dating market in Sri Lanka is experiencing significant growth due to changing customer preferences, the increasing popularity of online platforms, and the evolving cultural and economic landscape. As more Sri Lankans embrace online dating as a legitimate way to find love and companionship, the market is expected to continue to expand in the coming years.

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.