Mindfulness Meditation Apps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Mindfulness Meditation Apps Market: Overview
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.
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.
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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