Increasing worldwide cases of mental disorders and adopted improper lifestyles is magnifying the growth of the Global Mindfulness Meditation Application Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post-pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in the rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and positively affected the global mindfulness meditation application market. The sudden pandemic and worldwide lockdown has rapidly increased the cases of mental disorders and increased the demand for mind relaxing apps to tackle stress and anxiety caused by the lockdown as people were forced to stay inside the home and many lost their jobs during the pandemic. This causes a gradual shift towards spirituality, meditation, and yoga.
The report delivers a quick ready-to-deploy approach to counter such a crisis and steer the global mindfulness meditation application market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, the global mindfulness meditation application market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global mindfulness meditation application market.
Free of cost Mindfulness Meditation Applications are expected to Sustain the Highest Revenues, Followed by paid application
Owing to the immense potential of the Mindfulness Meditation Application backed by features such as audios, videos, live interaction, personal guidance, and others, are some of the features provided by the free of cost mindfulness meditation applications and are being preferred by health-conscious people. It is easier to test, use and delete the apps if found non-suitable according to the individual’s requirement. The free apps are anticipated to contribute about ~40% of the revenue during the assessment period.
The growing need for the more advanced features by the fitness enthusiasts is showing the demand for the paid apps as many special and add-on services are placed under paid category in apps. The free apps are anticipated to contribute about ~8% of the revenue during the assessment period.
Android Operating System Type Segment to be the Most Lucrative
Android Operating System type is likely to witness the largest share during the forecast period. This is due to the strong demand for android based systems in developing countries. The continuous updates and technological advancements in the systems such as the integration of mindfulness meditation apps improved audio and video features of the operating systems, are one of the current trends favoring the market growth during the forecast period.
North America to Sweep the Largest Revenue Streams
North America region is a lucrative regional market for the global mindfulness meditation application market in terms of revenue as the number of patients dealing with a mental disorder in this region.
In North America, U.S. and Canada are anticipated to emerge as the major contributor of the revenue in the mindfulness meditation application market growth. Around more than 40 million people in the United States are dealing with depression, anxiety, and other mental disorders which is a major potent cause for the enhancement of demand for mindful apps. The companies in the united states are dedicated to investment activities for research and development areas for mindfulness meditation application.
The growing need for self-regulation is creating the demand for the services like online meditation to manage stress and other disorders among youth are offering new opportunities in the global mindfulness meditation application market
According to the world health organization’s survey, nearly around 250 million people across the world suffer from depression. Bipolar disorder, anxiety, and other mental health disorders are some of the most common issues faced by today’s youth.
The mindfulness meditation applications are helping individuals to in achieving peacefulness through mental training involving meditation, deep breathing, easy yoga practices, and other exercises. These applications aid in practicing self-awareness and self-regulation which is estimated to drive the market growth during the forecast period. Technology and smartphones are now being used in achieving mental peace and to cure mental disorders.
These meditation applications provide animation videos, footstep, and breathing rate tracking, and reminders for the users. These kinds of apps are also been introduced by educational institutes for reducing the stress and pressure from their students.
The global mindfulness meditation application market is expected to recoup growth and register over USD ~180 million by 2028 ticking at a CAGR of 8.4%.
Further, the increasing cases of mental disorders like anxiety, depression, stress, and others, which occurred in people especially in the youth due to the pandemic are one of the factors responsible for leading the market growth for mindfulness meditation application during the forecast period.
Furthermore, the increasing desire to obtain a healthy lifestyle owing to the increased exposure to social media, financial issues, work-related stress is expected to ravel new growth opportunities in the global mindfulness meditation application market during the forecast period.
The major players of the global mindfulness meditation application market are Deep Relax Smiling Mind, Inner Explorer Inc., Stop, Breathe & Think PBC, The Mindfulness App, Mindfulness Everywhere Ltd. Ten Percent Happier, Breethe, Insights Network Inc., Simple Habit Inc., Calm.com Inc.
The mindfulness meditation application market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst the Covid-19 impact.
Latest Innovations in the Global Mindfulness Meditation Application Market: A Snapshot
- Recently, in august 2021, an English-American company, Headspace, famous for meditation, and Ginger, have announced to merge. Both the companies have formed “Headspace Health”, thus creating USD 3 billion mental health companies.
- In June 2021, Europe's largest mindfulness app, Syntuition and Alium NFT announced their collaboration. This collaboration is done to present new developments in the NFT market with the help of the Alium NFT marketplace.
- In October 2021, Breethe, a global meditation app announced its partnership with WW International, Inc., a human-centric technology company, powered by the world’s leading commercial weight management program, for spreading awareness about stress management.
Mindfulness Meditation Application Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD ~180 million|
|Growth Rate||CAGR of 8.4% during 2021-2028|
|Segment Covered||Type, Operating System, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Deep Relax Smiling Mind, Inner Explorer Inc., Stop, Breathe & Think PBC, The Mindfulness App, Mindfulness Everywhere Ltd. Ten Percent Happier, Breethe, Insights Network Inc., Simple Habit Inc., Calm.com Inc.|
Key Segments of the Global Mindfulness Meditation Application Market
Type Overview, 2018-2028 (USD Billion)
- Paid Mindfulness Meditation Apps
- Free Mindfulness Meditation Apps
Operating System Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa