Online Dating - Sri Lanka

Sri Lanka

Highlights

Revenue in the Online Dating market is projected to reach US$4.87m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.72%, resulting in a projected market volume of US$6.13m by 2029.
In the Online Dating market, the number of users is expected to amount to 1.6m users by 2029.
User penetration will be 5.3% in 2024 and is expected to hit 7.2% by 2029.
The average revenue per user (ARPU) is expected to amount to US$4.20.
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 Sri Lanka is experiencing significant growth and development due to changing customer preferences and local special circumstances.

Customer preferences: In recent years, there has been a shift in customer preferences towards using online platforms for matchmaking services in Sri Lanka. This can be attributed to the increasing popularity of smartphones and the internet, which has made it easier for individuals to connect with potential partners. Online matchmaking platforms provide a convenient and efficient way for people to find compatible partners based on their preferences and interests. Additionally, the younger generation in Sri Lanka is more open to the idea of using technology for dating and finding love, further driving the demand for online matchmaking services.

Trends in the market: One of the key trends in the matchmaking market in Sri Lanka is the rise of niche matchmaking platforms. These platforms cater to specific segments of the population, such as professionals, religious communities, or individuals with specific interests. By focusing on niche markets, these platforms are able to provide more personalized and targeted matchmaking services, increasing the chances of finding compatible partners. This trend reflects the growing demand for specialized matchmaking services in Sri Lanka, as individuals seek partners who share similar backgrounds, values, and interests. Another trend in the matchmaking market in Sri Lanka is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to analyze user data and preferences, and provide more accurate and relevant matchmaking recommendations. By leveraging AI and ML, matchmaking platforms are able to improve the quality of matches and increase customer satisfaction. This trend is expected to continue as technology continues to advance and algorithms become more sophisticated.

Local special circumstances: Sri Lanka is a country with a rich cultural and religious heritage, and this has a significant impact on the matchmaking market. Traditional values and customs play a crucial role in the decision-making process when it comes to finding a partner. Matchmaking platforms in Sri Lanka need to take these cultural and religious factors into consideration and provide options that align with the preferences of their users. This includes factors such as caste, religion, and family background. Understanding and respecting these local special circumstances is essential for the success of matchmaking platforms in Sri Lanka.

Underlying macroeconomic factors: The growing economy and increasing disposable income in Sri Lanka have also contributed to the development of the matchmaking market. As people become more financially stable, they are more willing to invest in finding a compatible partner. This has led to an increase in the demand for matchmaking services, both online and offline. Additionally, the changing social dynamics and increasing urbanization in Sri Lanka have also played a role in the growth of the matchmaking market. As more people move to cities and experience a shift in lifestyle, they are turning to matchmaking platforms to help them navigate the dating scene and find suitable partners. In conclusion, the matchmaking market in Sri Lanka is experiencing growth and development due to changing customer preferences, the rise of niche platforms, the integration of AI and ML technologies, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and societal norms evolve, the matchmaking market in Sri Lanka is expected to continue to expand and provide innovative solutions for individuals seeking love and companionship.

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.