Market Insights Digital eServices Dating Services

Matchmaking - India

India

Revenue in the Matchmaking market is projected to reach €275.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.81%, resulting in a projected market volume of €284.50m by 2028.
In the Matchmaking market, the number of users is expected to amount to 31.5m users by 2028.
User penetration will be 1.6% in 2024 and is expected to hit 2.1% by 2028.
The average revenue per user (ARPU) is expected to amount to €11.75.
In global comparison, most revenue will be generated in China (€1,123.00m in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest in South Korea.

Key regions: India, South Korea, China, Asia, United States

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Analyst Opinion

The Matchmaking market in India has seen significant growth in recent years, driven by changing societal norms and increased acceptance of online dating platforms.

Customer preferences: Indian consumers are increasingly turning to matchmaking services to find their life partners. This shift in preference can be attributed to several factors. Firstly, the traditional arranged marriage system in India is gradually evolving, with individuals seeking greater autonomy in choosing their life partners. Online matchmaking platforms provide a convenient and efficient way to connect with potential matches, allowing individuals to have more control over their marriage decisions. Furthermore, the younger generation in India is more open-minded and tech-savvy, making them more inclined to use online matchmaking services. These platforms offer a wide range of features and tools to help users find compatible matches based on their preferences, such as age, education, profession, and caste.

Trends in the market: One of the key trends in the Indian matchmaking market is the increasing popularity of mobile dating apps. With the widespread adoption of smartphones and affordable internet access, mobile dating apps have become a convenient way for individuals to connect with potential partners. These apps often use algorithms and machine learning to suggest matches based on user preferences and behavior, making the matchmaking process more efficient and personalized. Another trend in the Indian matchmaking market is the rise of niche dating platforms catering to specific communities or interests. For example, there are platforms specifically designed for professionals, LGBTQ+ individuals, and people from specific religious or cultural backgrounds. These niche platforms provide a more targeted approach to matchmaking, allowing users to find partners who share similar values and interests.

Local special circumstances: India is a culturally diverse country with various regional and religious preferences when it comes to marriage. This diversity presents both opportunities and challenges for the matchmaking market. On one hand, it allows for the development of niche platforms that cater to specific communities. On the other hand, it requires matchmaking services to be adaptable and inclusive to cater to the diverse needs of their users. Furthermore, India has a large population of young adults who are entering the marriage market. This demographic dividend provides a significant customer base for matchmaking services, driving the growth of the market.

Underlying macroeconomic factors: India's growing middle class and increasing disposable income have also contributed to the growth of the matchmaking market. As more individuals become financially independent and prioritize personal happiness, they are willing to invest in matchmaking services to find compatible partners. Additionally, the rapid urbanization and changing lifestyles in India have led to a shift in marriage patterns. Young adults are often relocating to cities for education or employment, which reduces their social networks and makes it more challenging to find suitable partners through traditional methods. Online matchmaking platforms provide a solution to this problem by connecting individuals across different cities and regions. In conclusion, the matchmaking market in India is experiencing significant growth due to changing customer preferences, the rise of mobile dating apps, and the increasing acceptance of online matchmaking platforms. The market is further driven by local special circumstances, such as India's diverse cultural landscape and the demographic dividend of a young population. These trends are supported by underlying macroeconomic factors, such as the growing middle class and urbanization in India.

Methodology

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.