Market Insights eCommerce Dating Services

Matchmaking - Sierra Leone

Sierra Leone

Revenue in the Matchmaking market is projected to reach US$0.24m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 38.20%, resulting in a projected market volume of US$1.21m by 2029.
In the Matchmaking market, the number of users is expected to amount to 33.4k users by 2029.
User penetration will be 0.3% in 2024 and is expected to hit 0.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$7.67.
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 Sierra Leone has been experiencing significant growth in recent years, driven by changing customer preferences and the influence of global trends. Customer preferences in Sierra Leone have shifted towards more casual and non-committal relationships, leading to an increased demand for casual dating services. This can be attributed to several factors, including a growing emphasis on personal freedom and independence, as well as the influence of Western cultural norms. In addition, the rise of social media and dating apps has made it easier for individuals to connect with potential partners, further fueling the demand for casual dating services. Trends in the market indicate a shift towards online platforms and mobile applications for casual dating in Sierra Leone. This can be attributed to the increasing penetration of smartphones and internet access in the country. Online platforms provide a convenient and discreet way for individuals to meet and interact with potential partners, which has contributed to the growth of the casual dating market. Local special circumstances in Sierra Leone, such as a relatively young population and a high level of urbanization, have also contributed to the development of the casual dating market. The country has a large population of young adults who are more open to casual relationships and are actively seeking opportunities to meet new people. Additionally, the urban environment provides a more conducive setting for casual dating, with a greater number of social venues and opportunities for socializing. Underlying macroeconomic factors, such as increasing disposable income and changing social norms, have played a significant role in the growth of the casual dating market in Sierra Leone. As the economy has improved and incomes have risen, individuals have more disposable income to spend on leisure activities, including casual dating. Furthermore, changing social norms and attitudes towards relationships have made casual dating more socially acceptable, further driving the demand for casual dating services. In conclusion, the Casual Dating market in Sierra Leone has experienced significant growth in recent years, driven by changing customer preferences, the influence of global trends, and underlying macroeconomic factors. The shift towards online platforms and mobile applications, as well as the local special circumstances in Sierra Leone, have contributed to the development of the casual dating market. With the continued growth of the economy and changing social norms, the casual dating market in Sierra Leone is expected to continue to expand in the coming years.

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.