Booming biz of online marriages: Online matrimony likely to touch Rs.1500 cr. by 2017
Combination of convenient and economic factors, online matrimony industry threatens to traditional business and eating market share of newspaper matrimonial classified industry, the country’s online matrimony will acquire a market size of Rs 1,500 crore by 2017 from Rs 520 crore at present, reveals a latest assessment by industry body Assocham.
In the last fiscal, about 50-55 million online subscribers registered their profiles, 2.5 miliion uploaded their profiles per month to take advantage of this facility mainly on account of it being economical and less cumbersome, adds Assocham assessment.
The figures by Assocham on “Rising trends & popularity of online Jobs and Matrimonial Alliances”, reveal that jobs and matri alliance seeking through online has many more takers now because combination of convenient and economic factors. This is evident from the fact that between 2011-12 and 2012-13, business transacted through online advertisement for jobs and matrimonial alliances registered a growth of 56% and 52% respectively.
“Of the projected prospective job and match seekers through online, Jobs portals reported a year on year growth of 75 per cent in November 2013, when compared with the number of resume uploads in corresponding month last year. However, the number of resumes uploaded in December 2013 increased to 3.15 million from 1.05 million in November 2012, said D S Rawat, Secretary General Assocham, adding that projections are based on estimates made by various sites for job providers and enablers involved in matri sites.
The research also shows that the fastest growing age group is 21-35 years. India has one of the youngest populations and the fourth largest Internet population in the world with 130 million online Indians today and all set to touch 120 million by 2012-13, adds the Assocham paper.
Mr. Rawat further said, matrimonial websites are increasingly turning into a better option for the new generation in their search for potential mates and for the NRIs looking for Indian match for their sons and daughters. And the payoff is certainly big as it provides a global choice of lakhs of members cutting across age groups, professions, regions, religions, and communities.
He also said, the interactivity, accessibility and hence effectiveness of the online medium make it a preferred medium for finding a life partner. These sites are proving to be a big draw for expatriates, living in the US, UK, Australia, New Zealand & Middle East. The web sites offer a more personal, interactive and quick way of searching for good matches, highlights the paper.
The number of online job seekers was estimated close to 25 million in 2012-13 and in the following year, their numbers will increase to 50 million 2016-17. The paper however, has projected that the number of job explorers through online services will rise about 65 million in current fiscal. In the future to come, this number will witness a substantial hike because of convenient, easier and economic ways to access the job opportunities and their availability, said Assocham Secretary General.
The paper also found that junior, mid-level and senior executives accounted for more than 50% of online job seekers. In addition, in keeping with the overall pattern of Internet usage, among the states Maharashtra topped the list of online job seekers followed by Delhi, Tamil Nadu, Karnataka and West Bengal. Most of the time it was noticed that 43% of online job seekers fall between 26 to 35 age group with 72% male and reaming 28 % female, conclude the Assocham paper.
Rawat also said that online recruitment is gaining ground as a preferred medium of hiring in India. For job seekers, the Internet has opened up the world of job searching, turning it into a 24-hour-a-day marketplace. Internet is arguably the most immediate, convenient and comprehensive medium for employment seekers to research and prospect for jobs”.
Travel arrangement through online is another sector that showcased significant growth. A year-on-year growth of 25 per cent is witnessed in the online booking of railway tickets, with the tickets booked online in June 2013 reaching 6.81 million, as compared to 5.83 million in June 2012. The online bookings of air tickets witnessed an increase of 1.45 million bookings in 2012 to 1.70 million bookings in 2013.Facts of Online Matrimonial Search:
- Market Size - FY 2012-2013 - Rs 520 crore
- Estimated market size - FY 2016-2017 Rs 1500 crore
- Online Matrimonial Search Subscribers: FY 2012-2013 – 50-55 million
- Fastest growing age group is 25yrs - 34yrs
- Male / Female ratio matches the current internet gender ratio is 69% / 31%
Fast facts of Online Job Search:
- 78% in the 26-35 age group
- 72% male and 28% female
Top 5 states:
- 32% Maharashtra
- 25% Delhi 20%
- 20% Tamil Nadu
- 12% Karnataka
- 11% West Bengal