Market Insights Digital eServices Dating Services

Online Dating - Cyprus

Cyprus

Revenue in the Online Dating market is projected to reach US$1.05m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.87%, resulting in a projected market volume of US$1.27m by 2028.
In the Online Dating market, the number of users is expected to amount to 96.8k users by 2028.
User penetration will be 6.5% in 2024 and is expected to hit 7.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$13.07.
In global comparison, most revenue will be generated in the United States (US$1,392.00m in 2024).
With a projected rate of 17.9%, the user penetration in the Online Dating market is highest in the United States.

Key regions: United States, China, Japan, Europe, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Dating market in Cyprus has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of online dating platforms.

Customer preferences: In today's digital age, more and more people are turning to online dating as a convenient and efficient way to meet potential partners. This trend is not unique to Cyprus, but is seen worldwide. The ease of use and accessibility of online dating platforms have made them increasingly popular among individuals of all ages.

Trends in the market: One of the key trends in the Online Dating market in Cyprus is the rise of niche dating platforms catering to specific interests and demographics. This trend is a response to the growing demand for more specialized dating experiences. For example, there are now dating platforms specifically designed for professionals, seniors, and even pet lovers. This trend reflects the desire for more targeted and tailored dating experiences, as customers seek to find partners who share their interests and values. Another trend in the market is the increasing use of mobile dating apps. With the widespread adoption of smartphones, people are now able to access online dating platforms anytime and anywhere. This has made the process of finding and connecting with potential partners even more convenient and efficient. Mobile dating apps also offer additional features such as location-based matching and instant messaging, further enhancing the user experience.

Local special circumstances: In Cyprus, there are a few local special circumstances that have contributed to the growth of the Online Dating market. Firstly, the country has a relatively small population, which makes it more challenging to meet new people, especially in more rural areas. Online dating platforms provide a solution to this problem by connecting individuals from different regions and backgrounds. Additionally, the cultural norms and traditions in Cyprus have also played a role in the popularity of online dating. In a traditional society where arranged marriages were once common, online dating offers a more modern and individualistic approach to finding love. This has resonated with younger generations who are looking for more freedom and autonomy in their romantic lives.

Underlying macroeconomic factors: The growth of the Online Dating market in Cyprus is also influenced by underlying macroeconomic factors. The country's economic development and increasing internet penetration have created a conducive environment for the online dating industry to thrive. As more people gain access to the internet and become familiar with online platforms, the number of potential users for online dating services continues to expand. Furthermore, the COVID-19 pandemic has accelerated the adoption of online dating in Cyprus, as social distancing measures and restrictions on social gatherings have limited traditional dating opportunities. This has led to an increased reliance on online dating platforms as a means of meeting and connecting with others. In conclusion, the Online Dating market in Cyprus is experiencing growth due to changing customer preferences, the rise of niche dating platforms, the increasing use of mobile dating apps, local special circumstances, and underlying macroeconomic factors. These trends and developments are expected to continue driving the growth of the market in the coming years.

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.