Online Dating - Bhutan

Bhutan

Highlights

Revenue in the Online Dating market is projected to reach US$142.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.30%, resulting in a projected market volume of US$193.70k by 2029.
In the Online Dating market, the number of users is expected to amount to 60.0k users by 2029.
User penetration will be 5.4% in 2024 and is expected to hit 7.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$3.31.
In global comparison, most revenue will be generated United States (US$1.39bn in 2024).
With a projected rate of 17.7%, the user penetration in the Online Dating market is highest United States.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Matchmaking market in Bhutan has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: In Bhutan, there has been a shift in customer preferences towards matchmaking services due to several factors. Firstly, the younger generation is increasingly looking for partners who share similar values, interests, and aspirations. This has led to a growing demand for matchmaking services that provide personalized and tailored matches based on compatibility factors. Additionally, the traditional practice of arranged marriages is gradually evolving, with more individuals seeking the assistance of matchmaking services to find suitable partners.

Trends in the market: One of the key trends in the matchmaking market in Bhutan is the rise of online platforms. With the increasing penetration of the internet and smartphones, online matchmaking platforms have gained popularity among the tech-savvy population. These platforms offer a convenient and efficient way to connect individuals looking for a life partner. They provide a wide range of features, including advanced search filters, compatibility matching algorithms, and secure communication channels. Another trend in the Bhutanese matchmaking market is the integration of technology in the matchmaking process. Matchmaking agencies are leveraging artificial intelligence and machine learning algorithms to analyze user data and preferences, thereby improving the accuracy of match recommendations. This technology-driven approach has enhanced the efficiency and effectiveness of matchmaking services, leading to higher customer satisfaction.

Local special circumstances: Bhutan's unique cultural and social context has also influenced the development of the matchmaking market. The country's small population and close-knit communities make it challenging for individuals to find suitable partners within their immediate social circles. As a result, matchmaking services have emerged as a viable solution to bridge this gap and connect individuals from different backgrounds. Furthermore, Bhutan's emphasis on preserving and promoting traditional values and customs has contributed to the growth of matchmaking services. These services provide a platform for individuals to find partners who align with their cultural and religious beliefs, ensuring compatibility and long-term harmony in relationships.

Underlying macroeconomic factors: The economic development and increasing disposable income of the Bhutanese population have played a crucial role in the growth of the matchmaking market. As people become more financially independent, they are willing to invest in services that can help them find a compatible life partner. This has created a favorable environment for matchmaking agencies to thrive and expand their operations. Moreover, the government's focus on promoting tourism and attracting foreign investment has led to an influx of expatriates and foreign nationals in Bhutan. This has created a diverse pool of individuals seeking matchmaking services, further driving the growth of the market. In conclusion, the matchmaking market in Bhutan is experiencing significant growth due to changing customer preferences, emerging trends such as online platforms and technology integration, as well as local special circumstances such as the country's unique cultural context. The underlying macroeconomic factors, including economic development and the influx of expatriates, have also contributed to the expansion of the market. As the market continues to evolve, matchmaking services are expected to play a crucial role in helping individuals find compatible life partners in Bhutan.

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.