Market Insights eCommerce Dating Services

Matchmaking - Armenia

Armenia

Revenue in the Matchmaking market is projected to reach US$0.56m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.47%, resulting in a projected market volume of US$0.52m by 2029.
In the Matchmaking market, the number of users is expected to amount to 19.2k users by 2029.
User penetration will be 0.7% in 2024 and is expected to hit 0.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$29.14.
In global comparison, most revenue will be generated in China (US$1,211.00m in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest in South Korea.

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Analyst Opinion

The Casual Dating market in Armenia is experiencing significant growth and development in recent years.

Customer preferences: Armenian customers are increasingly turning to casual dating as a way to meet new people and explore romantic connections. The convenience and accessibility of online dating platforms have made it easier for individuals to connect with others who share similar interests and preferences. Additionally, the anonymity provided by these platforms allows users to feel more comfortable and confident in expressing themselves and pursuing casual relationships.

Trends in the market: One of the key trends in the Casual Dating market in Armenia is the rise of mobile dating apps. With the widespread use of smartphones, more and more people are using dating apps to find potential partners. These apps offer a convenient and efficient way to browse through profiles, chat with matches, and arrange meetups. The popularity of mobile dating apps has contributed to the growth of the Casual Dating market in Armenia, as it appeals to the tech-savvy younger generation who are always on the go. Another trend in the market is the increasing acceptance and normalization of casual dating. In the past, casual dating was often stigmatized and seen as taboo in Armenian society. However, attitudes towards casual relationships have evolved, and more individuals are embracing the idea of non-committal connections. This shift in cultural norms has created a more favorable environment for the Casual Dating market to thrive.

Local special circumstances: Armenia is a small country with a close-knit community, which can make it challenging for individuals to meet new people outside of their social circles. Casual dating platforms provide an opportunity for Armenians to expand their social networks and connect with others who they may not have otherwise encountered. This aspect of casual dating is particularly appealing to individuals who are looking for new experiences and connections beyond their immediate social circle.

Underlying macroeconomic factors: The growth of the Casual Dating market in Armenia is also influenced by broader macroeconomic factors. The country has experienced economic growth in recent years, which has led to an increase in disposable income for many individuals. This has allowed more people to afford the cost associated with casual dating, such as membership fees for dating platforms or expenses related to dates and outings. The improving economic conditions have also contributed to a more optimistic outlook on relationships and dating, further driving the growth of the Casual Dating market in Armenia.

Methodology

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.