The online dating industry is currently worth over $10 billion with a projected worth of $13 billion by 2028. And that’s a healthy little slice of the total worth of profits from private companies that produce goods and services. How did this come about?
The industry began, as many do, when two entrepreneurs identified a need (or pain point) and developed a plan to meet that need. The need? Singles wanting better, more efficient ways to meet compatible others for dating and relationships.
The year was 1995, and Match was launched to meet the need and provide a new and different way for singles to meet and “date,” online at first and then in person. It was an antiquated system compared to today. A database of members was formed, and keywords were used to present prospects.
This period in our history was the start of what has become consumer demand for speed and efficiency in all aspects of their lives, and that includes finding people to date. Match was simply the first response to that demand.
What the Online Dating Industry Looks Like Today
Today the online dating industry includes over 8,000 websites and apps with more added all the time.
There are the “big boys” like Match and eHarmony both of which have expanded their member bases to cover all demographics.
There are also niche dating services based upon specific demographics – farmers, seniors, and specific religions. There are gay apps, apps for those who consider themselves “elite,” and even for fitness buffs and nerds.
But more than just the explosion of the number of dating services and the number of people using them (closing in on 400 million), the field has become highly competitive. And with that competition comes development of more and better ways to offer features and services to members.
Enter Technology
It was inevitable. As dating services entered the world of stiff competition, they embraced technology. And here are all the ways in which that technology is in use today:
Enhanced Communication Features
From offering chatting and messaging to video calling and live streaming, technology has greatly enhanced the way dating app members can now communicate. And as that technology continues to evolve, so will methods of communication among members.
Virtual Dating
Couples can cook together, tour museums and stroll the streets of Paris, watch a movie, and more. More advanced technology even allows the creation of aviators who can date in cyberspace.
The continued improvements of AR and VR dating will provide even more realistic dating experiences, no matter how far apart they may be physically.
Advanced Matching Algorithms
The use of big data, along with ML and AI, has transformed the matching process. Users state their preferences for the traits and other demographic information on who they want to partner with.
All of this information is entered into the system, of course, but in addition to that, AI tracks the behaviors of its members while online and further refines the matching system, to present matches that are near perfect.
Enter Privacy and Security Concerns
Here is where technology must “up” its game in the online dating environment. While most dating apps have identity verification protocols in place, this is still an ongoing issue – data breaches, catfishing scams and other “bad actors” continue to get registered and conduct their nefarious behaviors.
Much of safety and security is still left up to individual users, as dating apps provide precautions for them to use and methods for reporting suspicious behavior.
Obviously, more robust security must be developed and put into place, and technology must play a larger role.
Finding the Balance
Technology definitely has a role to play in the dating landscape today. But, ultimately, romance is a matter of human connection.
Technology can enhance two people finding each other but cannot replace the emotional aspects of making that connection real via communication, trust, shared values and goals, and more. We all need to remember this.
In the End…
So we can say this: technology has transformed the online dating landscape in many amazing ways as each new innovation is developed. And the future possibilities are endless and yet to be known. As long as the right balance is maintained, individuals who embrace online dating and the benefits that technology provide, love and romance can continue to bloom.
