Online Dating - Guyana

Guyana

Highlights

Revenue in the Online Dating market is projected to reach US$213.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.09%, resulting in a projected market volume of US$300.60k by 2029.
In the Online Dating market, the number of users is expected to amount to 50.9k users by 2029.
User penetration will be 4.4% in 2024 and is expected to hit 6.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$5.87.
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 Guyana is experiencing significant growth and development due to several factors. Customer preferences are shifting towards online platforms and mobile applications for finding romantic partners, leading to an increase in the demand for matchmaking services. Additionally, the local special circumstances in Guyana, such as a small population and limited social opportunities, contribute to the growth of the matchmaking market. Furthermore, underlying macroeconomic factors, such as increasing internet penetration and economic growth, also play a role in the development of the market. Customer preferences in Guyana are changing, with more individuals turning to online platforms and mobile applications to find romantic partners. This shift can be attributed to the convenience and accessibility offered by these platforms. Online matchmaking services provide users with the ability to browse through a large pool of potential partners, filter their search based on specific criteria, and communicate with matches before meeting in person. These features appeal to individuals who are busy with work or other commitments and prefer a more efficient way of finding a partner. As a result, the demand for online matchmaking services is increasing in Guyana. In addition to changing customer preferences, the local special circumstances in Guyana also contribute to the growth of the matchmaking market. Guyana has a relatively small population, which limits the number of potential romantic partners individuals can meet through traditional social avenues. This scarcity of options makes online matchmaking platforms an attractive alternative for those seeking a partner. Furthermore, Guyana has limited social opportunities, especially in rural areas, which further drives individuals to turn to online platforms for matchmaking. These circumstances create a favorable environment for the growth of the matchmaking market in Guyana. Underlying macroeconomic factors also play a role in the development of the matchmaking market in Guyana. The country has been experiencing economic growth in recent years, which has led to an increase in disposable income for many individuals. This increase in disposable income allows people to spend more on leisure activities, including matchmaking services. Additionally, internet penetration in Guyana has been steadily increasing, providing more individuals with access to online matchmaking platforms. The combination of economic growth and increased internet penetration creates a conducive environment for the growth of the matchmaking market. In conclusion, the matchmaking market in Guyana is developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards online platforms and mobile applications for finding romantic partners, the small population and limited social opportunities in Guyana, and the increasing disposable income and internet penetration all contribute to the growth of the market. As these factors continue to evolve, the matchmaking market in Guyana is expected to further expand in the coming years.

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.