Matchmaking - Panama

Panama

Highlights

Revenue in the Matchmaking market is projected to reach US$1.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of NaN%, resulting in a projected market volume of US$-1.34m by 2029.
In the Matchmaking market, the number of users is expected to amount to 43.4k users by 2029.
User penetration will be 0.8% in 2024 and is expected to hit 0.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$37.28.
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 Panama is experiencing significant growth and development, driven by changing customer preferences and local special circumstances. Customer preferences in the Casual Dating market in Panama are shifting towards more casual and non-committal relationships. This can be attributed to the increasing influence of Western culture and the rise of online dating platforms. With the advent of technology, people in Panama now have more access to a wide range of potential partners and can easily connect with others who share similar interests and desires. This has led to a growing acceptance of casual dating as a way to meet new people and explore different types of relationships. Additionally, the younger generation in Panama is more open-minded and progressive, embracing the idea of casual dating as a way to have fun and experience new things. The trends in the Casual Dating market in Panama are also influenced by global and regional market trends. One such trend is the increasing popularity of mobile dating apps. These apps provide a convenient and discreet way for people to connect with others and arrange casual dates. They offer features such as location-based matching, messaging, and photo sharing, which make it easier for users to find potential partners and communicate with them. Another trend is the growing use of social media platforms for casual dating. Platforms like Facebook and Instagram allow users to showcase their lifestyle and interests, making it easier for others to connect with them and express interest in casual dating. Local special circumstances in Panama contribute to the development of the Casual Dating market. Panama is a multicultural country with a diverse population, which creates a rich and vibrant dating scene. The country's vibrant nightlife and social events provide ample opportunities for casual dating and meeting new people. Additionally, Panama's status as a popular tourist destination attracts a large number of international visitors, further expanding the potential pool of casual dating partners. The warm and tropical climate of Panama also contributes to a laid-back and relaxed atmosphere, which is conducive to casual dating. Underlying macroeconomic factors also play a role in the development of the Casual Dating market in Panama. The country's strong economic growth and rising disposable incomes have led to an increase in consumer spending on leisure activities, including casual dating. As people have more disposable income, they are willing to spend money on experiences and entertainment, including casual dating. Furthermore, Panama's relatively stable political and economic environment provides a favorable backdrop for the growth of the Casual Dating market. In conclusion, the Casual Dating market in Panama is experiencing growth and development due to changing customer preferences, global and regional market trends, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is likely that new trends and opportunities will emerge, further fueling the growth of the Casual Dating market in Panama.

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.