The mindfulness meditation apps market is set to chart in tremendous growth over the forecast period between 2019 and 2029. In recent years, highly demanding and stressful nature of day-to-day activities driving individuals to seek solace is creating immense awareness about meditation. Inhumanely long work hours and increasing nuclear family setups to look after small children and household responsibilities are becoming reasons for mental health disorders. Mindfulness and meditation have surfaced as a panacea for such mental ailments that are beyond medical treatment.
Over the years, big technology companies have capitalized on this opportunity with the introduction of meditation apps that promise to reinstate and rebuild mindfulness amongst users.
The mindfulness meditation apps market report analyses various factors to have an impact on the growth trajectory of the said market over the 2019- 2029 assessment period. Furthermore, growth indices, demand drivers, challenges, business landscape, and geographical outlook of the mindfulness meditation apps market for the aforementioned forecast period covered in this report. The qualitative analysis and insightful information of the mindfulness meditation market presented in this report serves as a useful guide for market stakeholders. The impact of COVID-19 on this report further adds to the value of this report.
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Global Mindfulness Meditation Apps Market: Vendor Landscape
At present, the mindfulness meditation apps market is highly consolidated. Two players – Calm and Headspace – hold about 70% of the market share. The two companies are capitalizing on their first entry in the market and are aggressively partnering with offices, colleges, and social spaces to consolidate their position in the mindfulness meditation apps market.
According to available data, Calm has been downloaded 50 million times. Design simplicity of the app cleverly built with the help of sleep psychologists is a key factor behind the monumental popularity of the app.
Global Mindfulness Meditation Apps Market: Key Trends
The demand for mindfulness meditation apps has been escalating with the leaning of millennials for wholesome way of life. Work-life stress and a spate of personal and social engagements that impact everyday energy level and disturbs sleep are resulting in explosion of interest in meditation. According to findings of University of Pennsylvania School of Medicine, about one in every four Americans suffer from acute insomnia.
Furthermore, in 2018, a study conducted by American Psychological Association points out that Generation Z is likely to suffer from worst mental health issues and thus resort to alternative therapies. This has aroused the interest of investors to capitalize in the market, and thus has been an incredible factor in developing easily comprehensible meditation apps that cater to mental health issues such as anxiety, insomnia, depression, and self-care.
The two digital application stores iOS App Store and Google’s Play store have played a significant role in building the mindfulness meditation apps market. Today, these app stores are critical platforms, making meditation apps available to both beginners and expert practitioners.
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Global Mindfulness Meditation Apps Market: Regional Outlook
North America, at present, is at the fore of the mindfulness meditation apps market. As meditation is slowly becoming part of everyday lives of Americans, individuals are seeking mindfulness apps on their smartphones to obtain maximum benefit of the therapy. Individuals are recognizing mindfulness and meditation to be the ultimate way to de-stress and unwind.
Asia Pacific is another promising region in the mindfulness meditation apps market. The region being home to the therapy, and growing adoption of the therapy to beat everyday stress are reasons for growth of mindfulness meditation apps market in Asia Pacific.
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
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Accurate Trend Analysis
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