Contributed by: kellyseal Monday, July 08 2019 @ 08:26 am
Dating apps are incredibly popular, but as they saturate the U.S. market, the significant growth of the last few years is not expected to continue through 2019. Research analysts at eMarketer found that while the number of people use dating apps in the country has grown to a whopping 25 million, the market demand is starting to slow down.
According to Business Insider[*1] , apps like Tinder, Bumble and OkCupid,
(all owned by Match Group),  have contributed to the growing interest in dating apps, launching new features every few months to attract new (and young) users.
While U.S. dating app users will continue to increase, the rate of growth will be significantly less than in past years. For example, in 2018 dating apps saw their collective user base grow by 6.5%, compared with an expected 5.3% increase this year.
Looking forward to 2022, eMarketer predicts that dating app growth will slow down to only 2.2 percent in the U.S., for a total user population of 28 million.
Part of the slow growth is that many dating app users are switching between different apps, so the companies aren’t attracting as many brand-new users. It’s interesting to note however, that companies like Tinder appear to be targeting young adults who are aging into the dating market - primarily by putting money into features that attract younger users, like Snapchat videos and emojis.
Dating app companies have also responded by looking to markets outside the U.S., where Match Group and Bumble have begun to invest significant resources. India is an especially attractive market, with a huge population and a growing interest in dating apps among young singles. Bumble recently launched its app with celebrity partner Priyanka Chopra, and Match Group has increased marketing spend and added a key executive to oversee the region.
"Our data shows that half of all singles in the US use or have tried a dating app. There are also huge single populations in the rest of the world where dating products are becoming the new normal," Match Group spokesperson Justine Sacco told Business Insider. "We expect to see both revenue and user growth for our company continue to grow."
While growth predictions in the US dating market aren’t as robust as expected, there is still significant revenue for the top dating app companies. As Business Insider pointed out, the top 10 dating apps in the U.S. saw $679 million in gross consumer spending between the beginning of 2018 to early 2019. Tinder increased revenue by 62 percent to a total of $367 million in gross revenue, and Bumble grew 135 percent to $117 million.
 Updated 2019-07-12 - Bumble is not owned by Match Group.