Dating Services

Singapore

Highlights

Revenue in the Dating Services market is projected to reach US$21.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a projected market volume of US$24.26m by 2029.
The Matchmaking market has a projected market volume of US$15.88m in 2024.
In global comparison, most revenue will be generated United States (US$2.55bn in 2024).
The average revenue per user (ARPU) in the Dating Services market is projected to amount to US$46.60 in 2024.
In the Dating Services market, the number of users is expected to amount to 497.2k users by 2029.
User penetration in the Dating Services market will be at 7.7% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Dating Services market in Singapore has been experiencing significant growth in recent years, driven by changing customer preferences and the rise of online dating platforms. Customer preferences in the dating services market have shifted towards more convenient and efficient ways of finding potential partners. With busy lifestyles and limited time for socializing, many individuals are turning to online dating platforms as a convenient and effective way to meet new people. These platforms offer a wide range of features and tools that allow users to filter potential matches based on their preferences and interests. Additionally, the anonymity provided by online dating platforms appeals to individuals who may be hesitant to approach others in person. One of the key trends in the Singapore dating services market is the increasing popularity of niche dating platforms. These platforms cater to specific demographics or interests, such as religious affiliations, hobbies, or professions. By targeting niche markets, dating platforms are able to provide a more tailored and personalized experience for users, increasing the chances of finding a compatible match. Niche dating platforms also help individuals overcome the challenges of meeting like-minded people in a small and densely populated country like Singapore. Another trend in the market is the growing acceptance and normalization of online dating. In the past, there was a stigma associated with online dating, with many people viewing it as a last resort for individuals who couldn't find a partner through traditional means. However, as online dating platforms have become more mainstream and successful, this stigma has diminished. Today, online dating is seen as a legitimate and effective way to meet potential partners, and more and more people are embracing it as a viable option. Singapore's unique cultural and social dynamics also contribute to the development of the dating services market. As a multicultural society with a diverse population, Singapore offers a wide range of dating opportunities for individuals from different backgrounds. This diversity is reflected in the dating services market, with platforms catering to various ethnicities, religions, and cultural preferences. Additionally, Singapore's high internet penetration rate and tech-savvy population provide a fertile ground for the growth of online dating platforms. Underlying macroeconomic factors, such as increasing urbanization and changing demographics, also play a role in the development of the dating services market in Singapore. As more people move to cities and live busy lifestyles, the traditional ways of meeting potential partners, such as through friends or social events, become less feasible. This creates a demand for alternative methods of dating, such as online platforms. Additionally, Singapore's aging population and declining birth rates contribute to the growing number of singles in the country, further driving the demand for dating services. In conclusion, the Dating Services market in Singapore is experiencing growth due to changing customer preferences, the rise of online dating platforms, and the unique cultural and social dynamics of the country. Niche dating platforms, the normalization of online dating, and Singapore's multicultural society all contribute to the development of the market. Additionally, underlying macroeconomic factors, such as increasing urbanization and changing demographics, drive the demand for dating services in Singapore.

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.