Speed dating market research

The “Revenue” box shows the forecasted revenue development of the selected market (market segment, region) in million US dollars for each year.

The “Revenue Growth” box shows the year-over-year revenue development of the selected market (market segment, region) in percentage terms.

When it comes to finding love, "there's a lid for every pot," as the saying goes.

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“Fortunately, revenue has grown consistently throughout the remainder of the five-year period.” In response to the increasing number of US adults with smartphone devices, companies introduced a bevy of new products, including i Phone, Android and Blackberry dating apps, as well as locations services that use global positioning system (GPS) technology to find other single people in a customer’s vicinity.

In addition to product expansion, as consumer demand for online dating and matchmaking services has grown, new companies have entered the industry, says Moldvay.

That means making a dent as a new player will be harder than ever since many will have to build a database of users from scratch, says IBISWorld analyst Jeremy Edwards.

To survive, they'll need a novel marketing strategy and a focus on untapped potential , just 21 percent of Internet users agreed with the statement "people who use online dating sites are desperate," an eight point drop from the last poll in 2005.

Analysts expect the acceleration to continue over the next five years.

Target marketing, changing demographics, and decreasing stigma about online dating are continually bringing new users to fore.Industry consolidation is largely the result of increased mergers and acquisitions, as larger companies acquire well-established dating sites and companies to increase the density of their consumer bases.Because there are a myriad of different dating sites for consumers to choose from, companies are increasingly targeting companies with well-established reputations. Personals was one of the company's largest competitors, so this migration caused significant industry consolidation.Revenue gains averaged 2.9% per year to reach .0 billion in 2013, with consumers increasingly turning to the internet to meet prospective dates.“Industry firms that provide subscription-based membership, however, faced revenue declines during 2009 due to declining per capita disposable income levels during the recession,” explains IBISWorld industry analyst Caitlin Moldvay.Of course there are sites aimed at specific religious or ethnic groups, but there are also those who aim to match couples with very specific interests.

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