As per the analysis conducted by Fact. MR, the global mindfulness meditation apps market is anticipated to procure a market value of USD 180 Mn through 2032. The increasing cases of depression, mood disorders, and anxiety is expected to be the prime reason that can be attributed to the popularity of the mindfulness mediation apps.
These apps have also received popularity amongst school and college students since it helps them to develop peace and enhance concentration. Furthermore, the outbreak of COVID-19 has further propelled the demand for such apps.
According to the analysis at Fact MR, the demand for mindfulness mediation apps has increased by 8% from 2017 to 2021. Today’s youth is more inclined towards an unhealthy lifestyle, which brings a negative impact on the individual. In order to address these negativities, the youth is opting for mindful practices.
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Mindfulness Meditation Apps Market Segmentation
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
By Component Type
- Solar Energetics
Key Takeaways from the Market Study
- By type, preference for free mindfulness meditation apps to heighten, accounting for 40% revenue share
- Simultaneously, paid mindfulness meditation apps demand likely to surge at nearly 8% CAGR
- Increasing anxiety levels bolstering usage across the U.S, registering over 5% CAGR through 2031
- India is likely to observe an upsurge of around 7% CAGR, due to the dominance of yoga in the region
“Increased work stress, peer pressure, and personal relationship problems has encouraged today’s youth to opt for mindful practices,” says an analyst at Fact.MR.
Prominent players of the market are focusing on novel ideas and methods to capture larger market share. Players are taking various initiatives to make their product unique from their competitor. Further, they also opt for acquisitions and collaborations to cast their dominance in the global market.
- In August 2021, Headspace, an English-American player, globally renowned to offer online meditation services, and Ginger, announced their decision to merge. The two companies together formed “Headspace Health”, worth 3 Bn USD.
- In October 2021, Breethe, a worldwide popular meditation app, announced that it had collaborated with WW International, Inc., a human-centric technology company powered by world’s forefront commercial weight management program, to spread awareness about stress management and mindset encouraging individuals to opt a healthy lifestyle.