Online Dating - South Korea
- South Korea
- The South Korean Online Dating market is expected to witness significant growth in the coming years.
- According to projections, the revenue in the market is set to reach US$33.95m by 2023.
- Furthermore, it is anticipated that the market will experience an annual growth rate of 1.41% between 2023 and 2028, resulting in a projected market volume of US$36.42m by 2028.
- In terms of user base, the number of users in the South Korean Online Dating market is expected to reach 5.8m users by 2028.
- This indicates a steady increase in user penetration from 10.7% in 2023 to 11.4% by 2028.
- The average revenue per user (ARPU) in this market is projected to be US$6.16, highlighting the potential for monetization in the South Korean Online Dating market industry.
- When compared globally, it is worth noting that in the United States is the leader in terms of revenue generation in the Online Dating market.
- In 2023, in the United States is expected to generate a revenue of US$1,347.00m.
- Additionally, the user penetration rate in the United States is projected to be the highest at 17.6%.
- These figures showcase the promising future of the South Korean Online Dating market, with significant revenue potential and a growing user base.
- South Korea's online dating market is increasingly dominated by mobile apps, with a strong emphasis on privacy and matchmaking based on educational background and career success.
Key regions: United States, China, Japan, Europe, Germany
Analyst Opinion
Online Dating is the category with the highest amount of available services and the highest amount of users. Several mobile dating apps have taken off in this segment in the past few years, but few are actually making any significant revenues. Freemium is the most common business model, with some enticing basic services offered for free along with an upsell to more advanced, paid subscriptions. Tinder is a good example for a household name and exceptional good business model. With its swiping feature it became the top-grossing non-game app for the first time in years. Asia and South America are promising regions for the near future.
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.Overview
- Revenue
- Demographics
- Analyst Opinion
- Users
- Global Comparison
- Methodology
- Key Market Indicators