Research report presented by UnivDatos, Emphasis on Operating System (Android, iOS, Others); Service Type (Paid, Free); End-Users (6-12 Years, 13-18 Years, 18+ Years) and Geographical analysis (key regions and countries).
As per the research report, Global Mindfulness Meditation Apps Market is expected to reach the market valuation of USD 6,478.5 million by 2027 expanding at a reasonable CAGR of 48.2% during the forecast period (2021-2027) from USD 401.1 million in 2020. Mindfulness meditation app is an application that helps the end-users to meditate, calm down, and attain mental peace, to improve their mental health. Mindfulness meditation applications help the consumers to understand their behaviors, emotions and assist them in enhancing their self-awareness and self-regulation.
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Nowadays, with an increased workload, environmental stress, and family problems, mental health disorder issues such as anxiety, mood disorders, and mental stress are growing among various age groups. For instance, according to Perkbox, 79% of the employed adults in 2020 were suffering from work-related stress. This value was 20% higher compared to 59% in 2018. Owing to this a massive population is shifting towards mindfulness meditation apps to practice meditation in their daily hustle. In 2019, end-users worldwide spent around USD 195 million on mindfulness meditation applications.
The increased workload, increased competition in academics among students, and other environmental factors such as pollution, climate change; etc. are the reason for increasing mental health issues among the population worldwide. Further, some other factors responsible for mental health-related problems among individuals are changes in lifestyle, ailments, or any other family problems. According to Gallup 2019 global emotional report, Greece ranked highest in stress level with 59% followed by the Philippines and Tanzania with 58% and 57% respectively. Moreover, U.S. was also present in the top 10 most stressed countries with 55% of the population claiming to be stressed.
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As per a survey by Harris poll in 2017, it was found that stress was mainly caused by money and work in the United States. The major cause of health complaints is workplace stress followed by financial and family problems. For instance, 80% of the working people in the U.S. were stressed because of their work, and 8 out of 10, Americans were affected by stress. Furthermore, in the United Kingdom, 526,000 working individuals are affected by workplace stress, depression, and anxiety. Owing to these various reasons end-users are adopting the use of mindfulness meditation apps to achieve peace and relieve stress. According to Sensor Tower’s latest report 2019, the key meditation applications achieved revenue of around USD 195 million owing to the increased awareness regarding the mindfulness meditation apps and their provided benefits.
Some of the major players operating in the market include Calm, Headspace, Breethe, Insight Timer, Waking Up, Meditopia, BetterMe, Simple Habit, Aura Health, Moov, etc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Insights Presented in the Report
“Amongst Operating System, Android segment holds the major share”
Based on the operating system, the market is fragmented into android, iOS, and others. The android segment generated revenue of USD XX million in 2020, owing to the increasing demand for android systems across the globe. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F.
“Amongst Service Type, Paid segment is anticipated to grow at the highest CAGR during the analyzed period”
Based on the service type, the market is fragmented into paid and free. Owing to the strong penetration of free services among consumers, the free segment generated revenue of USD XX million in 2020 and is expected to grow at a CAGR of XX%. However, in the coming future with the rise in disposable income of the consumers and increased awareness about the premium services, it is expected that the consumers will tend to grab the paid services more.
Amongst End-User, 18 and above age group segment holds the major share”
Based on age group, the market is fragmented into 6-12, 13-18, and 18 and above. 18 and above age group generated revenue of USD XX million in 2020 and is expected to grow at a CAGR of XX%, owing to the increase in issues related to mental disorders due to overburden workload and personal life problems.
“North America signifies one of the largest markets of Mindfulness Meditation Apps Market”
For a deep-dive analysis of the industry, the study also includes regional and country-level analysis. The report comprises regions including North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America generated revenue of USD XX million in 2020 owing to consumer’s high per capita spending on healthcare and raising awareness about health benefits by these meditation apps. For instance, according to the Recovery Village, Americans spend around USD 300 Billion on healthcare due to stress every year increased adoption among the end-users, the revenue from 2018, increased by 52% in the year 2019.
Mindfulness Meditation Apps Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.