Mindfulness Meditation Application Market to Reach USD 307.1 Million by 2031|Top Players such-Headspace,Inner & Calm.Com
Rising cases mood disorders among all age groups, burgeoning disposable income with awareness about apps are prime factors responsible for the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 14, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Mindfulness Meditation Application Market to Reach USD 307.1 Million by 2031 | Top Players such- Headspace, Inner & Calm.Com” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global mindfulness meditation application market was valued at USD 97.6 million in 2021 and is projected to reach USD 307.1 million by 2031, growing at a CAGR of 12.4% from 2022 to 2031.
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Rise in application of sensor technology and smartwatches, growing awareness related to stable mental health along with increasing government initiatives promoting yoga and meditation drive the growth of the global mindfulness meditation application market. However, the lack of app transparency restricts the market growth. Moreover, the surge in rapid smartphone penetration present new opportunities in the coming years.
The mindfulness meditation application market is segmented into Deployment Model, Operating System and Service Type. The mindfulness meditation application market research is segmented into service type, deployment model, operating system, and region. On the basis of service type, the market is bifurcated into paid (in-app purchase) and free. By deployment model, it is divided into on-premises and cloud-based. By operating system, the market is classified into iOS, android, and others.
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Based on service type, the free segment accounted for the largest share in 2021, contributing to nearly four-fifths of the global mindfulness meditation application market, and is projected to maintain its lead position during the forecast period. Free application services mean applications that have zero purchase or subscription models. The demand for such applications is more as customers can download with zero thresholds and later on delete it or customize it with zero down payments.
Based on operating system, the Android segment held the highest market share in 2021, accounting for more than half of the global mindfulness meditation application market, owing to huge demand for android users in developing nations. However, the iOS segment is estimated to maintain its leadership status throughout the forecast period, and is projected to manifest the highest CAGR of 13.1% from 2022 to 2031.
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Region-wise, the mindfulness meditation application market trends are analyzed across North America (U.S. and Canada), Europe (Germany, Italy, France, Spain, UK, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific, specifically Japan, China, and India, remains a significant participant in the global mindfulness meditation application industry.
Key players profiled in the report include Calm.com, Inc., Headspace, Inc., Inner Explorer, Inc., Meditation Moments B.V., Mindfulness Everywhere Ltd., Simple Habit, Inc., Smiling Mind, Stop, Breathe, & Think PBC, Ten Percent Happier and The Mindfulness App.
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Covid-19 Scenario:
● The outbreak of the Covid-19 pandemic had a positive impact on the global mindfulness meditation application market, owing to implementation of the global lockdown which dramatically increased the cases of mental disorders and raised the need for mind-calming applications to combat the tension and anxiety.
● The pandemic’s effects are extensive and have benefited the market for mindfulness meditation application. During the lockdown, individuals were compelled to stay inside their homes and many lost their jobs during the pandemic. This gradually leads to a turn toward yoga, meditation, and spirituality.
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