Casual Dating - Guyana

Guyana

Highlights

Revenue in the Casual Dating market is projected to reach US$43.19k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.12%, resulting in a projected market volume of US$58.11k by 2029.
In the Casual Dating market, the number of users is expected to amount to 23.1k users by 2029.
User penetration will be 2.2% in 2024 and is expected to hit 2.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$2.43.
In global comparison, most revenue will be generated United States (US$293.80m in 2024).
With a projected rate of 4.6%, the user penetration in the Casual Dating market is highest Armenia.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Dating market in Guyana is experiencing significant growth and development in recent years.

Customer preferences: In Guyana, there is a growing demand for online dating services as more and more people are turning to the internet to find love and companionship. This trend can be attributed to several factors. Firstly, the younger generation in Guyana is becoming increasingly tech-savvy and comfortable with using online platforms for various purposes, including dating. Additionally, the busy lifestyles of modern-day individuals have made it challenging to meet potential partners through traditional means, leading them to explore online dating as a convenient alternative.

Trends in the market: One of the key trends in the online dating market in Guyana is the increasing popularity of mobile dating apps. With the widespread use of smartphones and the availability of affordable internet data plans, more people are accessing dating platforms through their mobile devices. This trend has made it easier for individuals to connect with potential partners anytime and anywhere, enhancing the overall user experience. Furthermore, the introduction of innovative features such as location-based matching and compatibility algorithms has also contributed to the growth of the online dating market in Guyana.

Local special circumstances: Guyana has a diverse population, consisting of various ethnicities and cultures. This diversity is reflected in the online dating market, with platforms catering to specific communities gaining traction. For example, there are dating apps specifically designed for Afro-Guyanese, Indo-Guyanese, and other ethnic groups, allowing individuals to connect with like-minded individuals who share similar cultural backgrounds and values. This localization of online dating services has resonated well with the Guyanese population, as it provides a more personalized and tailored experience.

Underlying macroeconomic factors: The development of the online dating market in Guyana is also influenced by broader macroeconomic factors. The country's improving internet infrastructure and increasing internet penetration rate have made online dating more accessible to a larger segment of the population. Additionally, the growing middle class in Guyana has more disposable income, enabling them to spend on online dating services. As the economy continues to expand and the standard of living improves, the online dating market is expected to further flourish in Guyana. In conclusion, the online dating market in Guyana is witnessing significant growth and development, driven by customer preferences for convenience and the increasing use of mobile dating apps. The localization of online dating services and the country's improving internet infrastructure also contribute to the market's expansion. As Guyana's economy continues to grow, the online dating market is likely to experience further advancements 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.