Press release
Se*xtech Market Global Market Report 2024 - By Growth, Size, Share, Trends, Forecast To 2033
Se*xtech
The Business Research Company offers in-depth market insights through Se*xtech Market Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The se*xtech market size has grown rapidly in recent years. It will grow from $31.61 billion in 2023 to $37.38 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to changing social attitudes, se*xual health education, privacy and discretion, customization and personalization, cultural shifts and se*xual liberation.
The se*xtech market size is expected to see rapid growth in the next few years. It will grow to $68.2 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to integration with health and wellness platforms, artificial intelligence (ai) and machine learning (ml), telehealth and remote intimacy solutions, regulatory acceptance, focus on inclusivity and diversity. Major trends in the forecast period include advancements in technology, e-commerce and digital platforms, focus on se*xual health and wellness, inclusive and diverse offerings, remote connectivity and long-distance intimacy.
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Market Segmentation:
The se*xtech market market covered in this report is segmented -
1) By Product: VR Porn*, Bluetooth-Enabled Se*x Toys, Porn*ography Video Scripting, Remote Se*x Interfaces, Se*x Robots
2) By Distribution Channel: Specialty Stores, Direct Sales, Online Stores
3) By End User: Men, Women, LGBT Community
Major Driver - Online Dating Expansion Fuels the Rising Se*x Tech Market
The growth of online dating is expected to propel the growth of the se*xtech market going forward. Online dating refers to the practice of using internet-based platforms, websites, or mobile applications to meet and interact with potential romantic or se*xual partners. Se*x tech uses various technologies and innovations related to se*xual intimacy and offers various benefits for online dating such as enhanced communication, virtual intimacy, privacy and safety features, and others. For instance, in June 2023, according to the Business 2 Community, a Malta-based business organization and a subsidiary of Clickout Media Ltd., the total number of paying users across Bumble's apps reached 3.2 million in 2022, showing an increase from 2.9 million users in 2021. Therefore, the growth of online dating is driving the growth of the se*xtech market going forward.
Competitive Landscape:
Major companies operating in the se*xtech market market report are Apple Inc., Hims & Hers Health Inc., LELO Inc., Unbound Inc., Doc Johnson Enterprises Inc., Lovehoney Group Ltd., Karex Berhad, Lovense LLC, FUN FACTORY GmbH, TENGA Co. Ltd., WOW Tech Group, California Exotic* Novelties LLC, Unbound Inc., Satisfyer GmbH, Dame Products Inc., OhMiBod LLC, MysteryVibe Ltd., Athais Inc., Vibease Pte. Ltd., Virtual Reality Bangers Inc., Emojibator, Womanizer Inc., Standard Innovation Corporation, Hot Octopuss Ltd., Arcwave Inc., Giddy Holdings Inc., MYHIXEL SL, Bijoux Indiscrets S.L., Mymuse India Private Limited
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