The expanding role mobile devices play in the lives of consumers has added to industry growth
New York, NY (PRWEB) January 09, 2014
The Dating Services industry has hit it off well over the five years to 2014. Revenue has steadily increased at an annualized 4.7% over the period to reach an expected $259.0 million. Over the past five years, consumers have been turning to the internet with alacrity to meet prospective partners. According to IBISWorld Industry analyst Sally Leman, “A slight decrease in per capita disposable income in 2010 only marginally affected revenue, with its lowest increase during the five-year period that year.” As leisure time and the marriage rate decrease, dating services answers the call for time-pressed single consumers who are searching for a meaningful relationship. As a result, Dating Services industry revenue is anticipated to increase by 6.0% in 2014.
The expansion of the role mobile devices play in the lives of Canadian consumers has added to the growth of the industry. A rising number of Canadians are connected to the internet through smartphones on a consistent basis, which have a plethora of dating apps as well as location services that use global positioning systems to meet up with other local people. This has increased the demand for online dating and matchmaking networks. Due to this, the number of firms in the Dating Services industry has increased by an annualized rate of 8.3% to 736, over the five years to 2014. Employment has also followed suit, rising 8.3% per year on average to 1,401 in 2014. Further, the industry profit margin is projected to rise from 16.6% in 2009 to 18.2% in 2014 owing to rising demand from a growing population without operators incurring additional capital expenses.
In the five years to 2019, the industry is forecast to exhibit more steady growth. “Per capita disposable income and consumer confidence will increase as the economy continues to strengthen, providing consumers with more discretionary income for industry services,” says Leman. Additionally, as a renewed interest in family life emerges, the demand for dating services will increase as single consumers look increasingly to become part of a couple. This will be evident specifically for services catering to niche dating and those in the baby-boomer generation. Revenue is expected to increase over the next five-year period.
For more information, visit IBISWorld’s Dating Services in Canada industry report page.
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IBISWorld industry Report Key Topics
The Dating Services in Canada industry helps clients pursue romantic relationships, usually via telephone, internet, magazine and newspaper. Industry firms also organize events, such as speed dating. This industry does not include social networking websites.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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