The Sextech Market Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sextech Market Global Market Report 2024, The sextech 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, sexual health education, privacy and discretion, customization and personalization, cultural shifts and sexual liberation.
The sextech 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 sexual health and wellness, inclusive and diverse offerings, remote connectivity and long-distance intimacy.
The growth of online dating is expected to propel the growth of the sextech 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 sexual partners. Sex tech uses various technologies and innovations related to sexual 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 sextech market going forward.
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The sextech market market covered in this report is segmented –
1) By Product: VR Porn, Bluetooth-Enabled Sex Toys, Pornography Video Scripting, Remote Sex Interfaces, Sex Robots
2) By Distribution Channel: Specialty Stores, Direct Sales, Online Stores
3) By End User: Men, Women, LGBT Community
Major companies operating in the sextech market are focusing on technological advancements such as ChatGPT Pleasure Companion to increase their profitability in the market. ChatGPT Pleasure Companion is the latest sex tech innovation that is used to voice the story and control sex toys. For instance, in July 2023, Lovense LLC, a Singapore-based manufacturer of high-quality and high-tech sex toys launched the ‘ChatGPT Pleasure Companion app that is used to indulge customers in juicy stories that are created by this application based on the client’s content. ChatGPT Pleasure Companion app is used to design stories and embody any fantasies or dreams of the customers accessing this tool.
The sextech market market report table of contents includes:
1. Executive Summary
2.Sextech Market Characteristics
3.Sextech Market Trends And Strategies
4.Sextech Market analysis
5.Sextech Market Size And Growth
6.Sextech Segmentation
7.Sextech Regional And Country Analysis
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27.Sextech Competitive Landscape And Company Profiles
28.Sextech Key Mergers And Acquisitions
29.Sextech Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Apple Inc.
- Hims & Hers Health Inc.
- LELO Inc.
- Unbound Inc.
- Doc Johnson Enterprises Inc.
- Lovehoney Group Ltd
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