It is a digital era, everyone knows. Yet, no one would expect dating apps to be a hot cake fifty years ago. Seemingly, however, the dating market is becoming more end users of the youth as Generation Z is shifting to traditional dating channels.
Dating apps have met unprecedented challenges in the past two years due to Covid-19, but their usage has continued to boom as consumers look for video applications. On the other hand, competitors work 24/7 to bring innovations and varieties to dating app markets to satisfy consumers' increasing demand.
By the end of 2022, dating services are predicted to have 413 million active users globally, according to estimates provided by Earth Web, a prominent business and technology site focusing on social media and gaming.
Available figures have indicated that users spent $829 million on dating app services.
Reports by Earth Web indicate that a third of the U.S. population has used an online dating service or app, specifying that many dotcomians use online services to discover new romantic partners. As a result, nearly 10% of the population has found their soul mate on the internet.
The EarthWeb estimates indicate that paid subscriptions roughly hit $3.7 billion in revenues globally.
Only in the U.S., estimated users topped 53 million people representing a 15.7 per cent penetration rate.
The United States is the supreme consumer of dating apps, but other countries in Europe, like the U.K. (11.5 per cent penetration) and France 10.9 per cent, have joined the trend.
India and China users exceed those of European countries with 3.4 per cent and 6 per cent, respectively.
Currently, over 1500 dating apps globally exist where love seekers, romancers and companions find each other.
In terms of age, Generation Z is said to choose more video apps over traditional dating apps.
Between March and May, Bumble video calls increased by 70%.
On the types of dating apps, Tinder and Bumble score highly with one million downloads per month, followed by Bumble in the second spot for the most downloads at 560,000 and Hinge in the third position with 394 000 downloads in 2021, respectively.
Tinder hit 9.6 million subscribers, Bumble comes with 1.2 million subscribers, and Hinge has 1.2 million subscribers.
Men are the majority users of online dating, accounting for 52.4% and women levelling to 47.6 % of the market.
Although women are outcompeted by apps dating market, the figures show that female users increase correspondingly as their age brackets go up.
For instance, figures show women dating on apps at age 21 are relatively few but peak up at 26 with activeness than men of the same age and respectively at the age of 48.
Around 60% of women who use Tinder claimed to seek serious relationships instead of a fling, making a difference in preferences compared to men. A lower percentage of 33% of women using dating sites said they were looking for casual sex.
According to several sources, the combined monthly active user base of Tinder, Bumble, and Hinge increased by 17% from January 2019 to January 2022.
According to the sensors' Tower Usage Intelligence data, the adoption for the top three datings collectively reached 106.4 million in 2021.
Sensors reports indicate adoption represents a 17 per cent growth from 91 million installs in 2019. Approximately 21.6 million first-time installs for Bumble alone were recorded in 2021, an increase of 19% year over year from just over 18 million in 2020.