Online Dating - Sierra Leone

Sierra Leone

Highlights

Revenue in the Online Dating market is projected to reach US$455.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.81%, resulting in a projected market volume of US$498.10k by 2029.
In the Online Dating market, the number of users is expected to amount to 347.5k users by 2029.
User penetration will be 2.9% in 2024 and is expected to hit 3.5% by 2029.
The average revenue per user (ARPU) is expected to amount to US$1.77.
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 Sierra Leone has been experiencing steady growth in recent years, driven by changing customer preferences and the increasing popularity of online dating platforms.

Customer preferences: Sierra Leoneans are increasingly turning to matchmaking services to find their ideal partners. This can be attributed to changing societal norms and the desire for companionship. In the past, arranged marriages were common in Sierra Leone, with families playing a significant role in the matchmaking process. However, as the country becomes more urbanized and individuals have greater independence in choosing their partners, the demand for matchmaking services has increased.

Trends in the market: The rise of online dating platforms has revolutionized the matchmaking market in Sierra Leone. These platforms provide a convenient and accessible way for individuals to connect with potential partners. With the advent of smartphones and affordable internet access, more Sierra Leoneans are embracing online dating as a way to meet new people. This trend is expected to continue as technology becomes more widespread and internet penetration rates increase.

Local special circumstances: Sierra Leone is a culturally diverse country with multiple ethnic groups, each with its own traditions and customs when it comes to matchmaking. This diversity creates a unique market for matchmaking services, as different groups may have different preferences and requirements in finding a partner. Matchmaking companies in Sierra Leone need to be sensitive to these cultural nuances and tailor their services accordingly to cater to the specific needs of each ethnic group.

Underlying macroeconomic factors: The growing middle class in Sierra Leone is also contributing to the development of the matchmaking market. As more individuals achieve financial stability, they have the means to invest in services that can help them find a compatible partner. Additionally, the country's improving economic conditions have led to increased urbanization and migration to major cities, creating a larger pool of potential customers for matchmaking services. In conclusion, the Matchmaking market in Sierra Leone is experiencing growth due to changing customer preferences, the rise of online dating platforms, cultural diversity, and the country's improving economic conditions. As Sierra Leoneans continue to seek companionship and explore new ways of finding partners, the matchmaking market is expected to expand further 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.