Matchmaking - Azerbaijan

Azerbaijan

Highlights

Revenue in the Matchmaking market is projected to reach US$1.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.62%, resulting in a projected market volume of US$1.59m by 2029.
In the Matchmaking market, the number of users is expected to amount to 36.6k users by 2029.
User penetration will be 0.4% in 2024 and is expected to hit 0.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$43.30.
In global comparison, most revenue will be generated China (US$1.21bn in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest South Korea.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Casual Dating market in Azerbaijan has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of online dating platforms. Customer preferences in the Casual Dating market have shifted towards more casual and non-committal relationships, with individuals seeking short-term connections and experiences. This trend can be attributed to the changing societal norms and a desire for more freedom and flexibility in personal relationships. Additionally, the younger generation in Azerbaijan is more open-minded and progressive, embracing the concept of casual dating as a way to explore their options and meet new people. The rise of online dating platforms has played a major role in the growth of the Casual Dating market in Azerbaijan. These platforms provide a convenient and accessible way for individuals to connect with potential partners, offering a wide range of options and features to cater to different preferences. The ease of use and anonymity offered by these platforms have attracted a large number of users, further fueling the growth of the market. Local special circumstances in Azerbaijan also contribute to the development of the Casual Dating market. The country has a relatively young population, with a significant proportion of individuals in their twenties and thirties. This demographic is more inclined towards casual dating and is actively seeking opportunities to meet new people and engage in social activities. Additionally, the urbanization and modernization of Azerbaijan have led to a more cosmopolitan lifestyle, where casual dating is increasingly accepted and embraced. Underlying macroeconomic factors also play a role in the growth of the Casual Dating market in Azerbaijan. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and a higher standard of living. This has allowed individuals to allocate more resources towards leisure activities, including casual dating. Furthermore, the growing influence of Western culture and values has had an impact on the dating preferences of Azerbaijanis, with casual dating becoming more socially acceptable and mainstream. In conclusion, the Casual Dating market in Azerbaijan is experiencing significant growth due to changing customer preferences, the rise of online dating platforms, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected to attract more participants and offer a wider range of options to cater to the diverse needs and preferences of individuals in Azerbaijan.

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.