Global Mindfulness Meditation Application Market Accounted for US$ 189.64 Mn in 2018 and is Expected to Reach US$ 4,377.95 Mn by 2027 Growing at a CAGR of 41.3% During the Forecast Period Owing to Rising Strategic Collaborations of Mindfulness Meditation Application Providers With Corporates, Says Absolute Markets Insights
Some of the players operating in the mindfulness meditation application market are Insight Timer, Headspace Inc., Calm, Glo, Inc., Enso Meditation Timer & Bell (Webmark Interactive Inc.)
PUNE, India, Jan. 27, 2020 /PRNewswire/ -- Mindfulness meditation is a powerful mental practice with a focus on inner experiences, without evaluating, judging, and participating into outer environment. Developing mindfulness through meditation involves directing an individual's attention to internal and external experiences. The sole purpose of developing this practice is to become more mindful and to increase the levels of well-being by reducing stress, softening anxiety, and reducing chances of a panic attack. Mindfulness meditation applications are designed to provide tailored options coupled with reminders to keep an individual more alert at any given point time. These applications also enable users to track their daily statistics for self-improvement determinations, which is driving the adoption of mindfulness meditation application market.
The companies providing mindfulness meditation applications are focusing on providing active and passive meditation practices for users to meditate on-the-go, to overcome daily challenges, such as stress, anxiety, pain, and sleep. These applications are mainly designed with an involvement of mental wellness experts to distribute, monetize, and analyze their content to empower an individual to stress less and accomplish more to live a healthy lifestyle. Corporates are highly incorporating mindfulness meditation programs as a part of leadership training or workshops for their employees. In the era of technology and changing work culture at offices, employees are required to work for longer hours in different shifts. High stress level at work deteriorates the performance of an employee. Additionally, working overtime rapidly decreases quality and efficiency of work. Therefore, companies have started conducting meditation sessions for employees' well-being. Headspace, a California-based mindfulness meditation application provider has undertaken partnerships with several corporate giants such as Unilever, Genentech, Inc., amongst others, which is enabling them to offer a more conducive wellness program for eradicating stress and promoting a healthier lifestyle among the employees. Such collaborations are providing access to the wider customer base and thereby contributing in the mindfulness meditation application market growth.
The detailed research study provides qualitative and quantitative analysis of mindfulness meditation application market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of platform, the android segment spearheaded the market in 2018 as it is the most common operating system (OS) platform currently being in the use along with a surging adoption of smartphones
Mounting adoption of iOS platform along with the existence of ultra-high net-worth individuals (UHNWI) in the U.S., Canada, the UK, Germany, and France are is likely to assist in the high growth of the segment during the assessment period.
Based on user age group, 13 to 18 years age group user segment is likely to witness lucrative market growth from 2019 to 2027 as a stressful schedule along with round-the-clock actions have been common in the 13 to 18 years aged individuals, which is boosting the need for mindfulness meditation activities
The mindfulness meditation application market North America is expected to hold the higher revenue chunk and represent the fastest growth during the assessment period. As the majority of individuals across the U.S. and Canada practice meditation on a regular basis to relax and de-stress the mind
Some of the players operating in the mindfulness meditation application market are Insight Timer, Headspace Inc., Calm, Glo, Inc., Enso Meditation Timer & Bell (Webmark Interactive Inc.), Ten Percent Happier, Stop, Breathe & Think PBC, Breethe (OMG. I Can Meditate! Inc.), Smiling Mind, Mindfulness Everywhere Ltd (Buddhify), and Simple Habit
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