The market for mindfulness meditation applications is anticipated to grow at a 9.5% compound annual growth rate (CAGR) to reach US$ 397.9 million by 2030 and US$ 192.7 million in valuation in 2022. The need for stress relief has increased interest in meditation techniques in recent years, which has made it profitable for mindfulness meditation software to enter the market.
With the promise of reducing anxiety, these applications have grown to be a significant industry worth billions of dollars today. An increase in wellness-focused lives has made investing lucrative. According to Future Market Insights, wellness experts will likely use technology to connect with younger people, making this movement more permanent than a fad.
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Key Takeaways of Mindfulness Meditation Application Market
- North America to dominate global mindfulness meditation application market are it is poised to earn a valuation of US$ 45 Mn by the end of 2030
- Android users will lead the market gaining a 47bps of current market value by 2030
- 70% users are expected to belong to Generation Z as mental health awareness gains momentum on social media platforms
- Japan to be a key spender on mindfulness meditation apps as well as the youth seeks Zen life through technology
COVID-19 Impact on Mindfulness Meditation Application Market
The downloads for mindfulness meditation have certainly seen a spike amidst the COVID-19 pandemic. According to a study, the top 10 wellness apps, operating in English language, witnessed 2 million downloads in April 2022.
The business has been growing for these ap ps as the pandemic has raised overall anxiety levels amongst users with layoffs, threat of diseases, death of loved ones, and in general uncertainty. Thus the need to manage stress can be felt with ferocity more than over amongst users and seekers.
Furthermore, strategies such as free access to frontline workers and increased number of days for free trial have also won the app makers a relatively wider clientele. While the ethics of using the pandemic to promote business can be contested, it is definite that the unprecedented times have led to unprecedented business for these apps.
Top Mindfulness Meditation Apps :
Constant diversification of offerings has been the winning marketing strategy of the key players operating in the global mindfulness meditation application market. Vision To build a valuable brand and product offering with insights from psychologists is expected to be marketing strategies of these companies.
- Calm.com, Inc.
- Headspace, Inc.
- Deep Relax
- Ten Percent Happier
- Smiling Mind
- The Mindfulness App
- Inner Explorer, Inc.
- Parachute for Parents (Committee for Children)
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More Valuable Insights on Mindfulness Meditation Application Market
In its latest report, Future Market Insights offers an unbiased analysis of the global mindfulness meditation application market, providing historical data for period of 2015-2021 and forecast statistics for the period of 2022-2030.
Key Segments of Mindfulness Meditation Application Industry Survey
Mindfulness Meditation Application Market by Operating System:
- Mindfulness Meditation Apps for Android
- Mindfulness Meditation Apps for iOS
- Mindfulness Meditation Apps for Others
Mindfulness Meditation Application Market by Service:
- Paid (In-app Purchases) Mindfulness Meditation Apps
- Free Mindfulness Meditation Apps
Mindfulness Meditation Application Market by Region:
- North America Mindfulness Meditation Application Market
- Latin America Mindfulness Meditation Application Market
- Europe Mindfulness Meditation Application Market
- East Asia Mindfulness Meditation Application Market
- South Asia & Pacific Mindfulness Meditation Application Market
- Middle East & Africa (MEA) Mindfulness Meditation Application Market
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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