The online dating industry is expected to generate $ 1975 million in revenue by the end of 2021, according to Statista. This revenue is expected to grow at a compound annual growth rate (CAGR) of 11.3 percent over the next three years, resulting in a market volume of $ 2505 million by the end of 2024.
According to another study by a reputable company, 24 percent of couples find their perfect match through online dating apps or websites.
These figures are enough to show the popularity of online dating websites and apps. If you are looking for a business idea, setting up an online dating website or mobile app is an excellent place to start. You can provide people with a way to find a partner and make a fortune by creating a dating app. The cost of developing a dating app should be the first thing on your mind right now.
Factors Affecting the Cost of Developing a Dating App
- Type and Size of the App.
- Features and Functionalities.
- Platforms and Devices.
- Location and Structure of the Development Team.
Let’s take a closer look at the factors that influence the cost of developing a dating app.
Matching Algorithm-Based Apps-
These apps pair users based on pre-programmed algorithms that analyze personal data from a survey.
These kinds of dating apps cater to a specific demographic. If you don’t meet the required criteria, such as a particular qualification or a particular age, you won’t be able to register or sign up for the app.
These apps display matches based on their geographical proximity. To put it another way, it shows you a potential match who is close by.
Standard Dating Apps-
These are traditional or old-school dating apps in which the match criterion must be pre-defined during the registration process.
Dating Apps With Gamification-
Gamification is a modern trend in mobile app development, or you could call it a marketing strategy. A dating app that incorporates gamification can help you increase user engagement and retention. Users can participate in quizzes, surveys, and other gamification activities even if no potential match is found on the first day. Who knows, they might find a game that way.
One of the main factors influencing development cost is the type of dating app chosen. See the following factors for more information:
The Dating App’s Features and Complexity
To provide an unrivaled experience to its users, a dating app should include the following features:
- Users can register, create a profile, and access it at any time by signing up and signing in. You can also give them the option of signing up using their existing email addresses or social media accounts.
- You can add a user authentication option to the app to ensure its security.
- Create a profile for users to enter personal information, partner preferences, upload photos, and more.
- Geo-location enables the app to retrieve the users’ current location and display relevant matches.
- Users can communicate with their matches via in-app chat.
- By using various filters, you can find potential matches.
- To send users alerts and updates, use push notifications.
- In-app advertisements are used to monetize the app.
- Users will be able to choose between free and premium subscriptions.
- AI-enabled dating app – Artificial intelligence can assist you in interacting and communicating with your matches.
- AR/VR – With an AR/VR-powered dating app, users can plan virtual dates.
If you want your dating app to stand out and give users something extra, it will need to include advanced features. You can contact an experienced and reputable mobile app development company for more information on those features.
The complexity of the application is another important factor in determining the cost of a dating application. The more complicated your application, the higher the total development cost.
Device And Platform
After the development phase is complete, your application will require a platform to function. Right now, Android and iOS are the two most widely used mobile operating systems for accessing mobile apps.
Choosing between these two or other platforms is critical early in the development process, as this will allow you to estimate the total cost of development. If you want to reach a large number of people, you should consider developing a cross-platform application, which will be more expensive.
The size and location of the development team are important considerations to take into account. If you need a large team of professionals to complete your dating app development, you may have to pay a little more than if you only need one professional. Also, the cost is determined by the location of the equipment in question. This means that if you hire a developer from another country, you may have to pay a higher salary than you would otherwise.
In addition to the above, there are other factors to consider, such as the developer’s experience and the tools and technologies used to build the application. The cost of a dating app is estimated to range from $ 25k to $ 35k.
How to Make a Tinder-like Dating App:
Tinder is one of the most widely used dating apps, with millions of users around the world. Log in via social media profiles, geolocation, matching algorithm, swipe increase, match search, profile settings, push notification, private chat, and more are some of the main features of this app. To create a tinder clone app, you will need a professional kit that includes:
- UX Designer
- 2 Developers
- Backend developer
- Project Manager
How to Make Money Through a Dating App?
Developing a monetization strategy from the beginning of dating app development is critical. You can earn a lot of money from a dating app if you use any or all of the methods listed below:
- Advertisements within the app.
- Purchases made within the app.
- To access special features, such as viewing the contact details or complete profile of potential matches, you’ll need a premium membership or subscription.
- According to the number of app downloads.
Why Should You Hire Suffescom To Create A Dating Mobile App?
Here are some of the reasons why you should work with Suffescom to develop your dating app.
- Hire developers on a monthly or hourly basis.
- No hidden cost.
- Expert team of developers.
- Proven track record of developing hundreds of applications.
- Pocket-friendly plans.
- To get a feature-rich, scalable, and robust dating application.
Market Leaders In The Dating app category
Bumble: Bumble, a dating app, is one of those apps that try to compete with Tinder. What Bumble does better than Tinder is that it allows users to chat immediately, while Tinder requires users to wait weeks to chat.
Happen: Happn is a major competitor to Tinder, offering amazing features like finding and connecting with strangers. Every movement is tracked by the app, which uses GPS to do it.
Raya: Raya is reserved for the upper crust. Users are ‘accepted’ in the circle based on their strength on social media and other factors, based on the development of the dating app.
Hinge: Hinge is based on connections and allows users to find a partner who is friend or friend of a friend.
While there are many more dating apps on the market, Happn and Bumble are two of Tinder’s biggest competitors.
The app receives 1 billion visits a day, despite the competition. There are several reasons for this, the most important of which is the set of features that Tinder offers.
We have covered the top five factors that influence the cost of developing a dating app. Before contacting a company that provides mobile application development services, use this information to help you prepare your application requirements.
Suppose you are new to this field and have no prior knowledge of the development process. In that case, you should contact Suffescom Solutions, one of the industry’s most reputable mobile application development companies. Startups and large corporations can benefit from the company’s good dating app development services.
You can share the concept of your dating app or inform the company about your requirements, and the company will provide you with the most competitive quote that fits your financial constraints. When you entrust your dating app development project to Suffescom, you can be sure that it will be completed on time and that you will receive ongoing support and maintenance once it is implemented.