PRESS RELEASE
Published July 25, 2023
By 2032, it is anticipated that the mindfulness meditation apps market would be worth US$ 180 million. During the predicted period from 2022 to 2032, the market is anticipated to display a CAGR of 8.4%.
Through mental training techniques that include meditation, deep breathing, and other exercises, mindfulness meditation applications assist a person in finding calm. The use of these apps encourages self-control and self-awareness, which is anticipated to increase demand for them.The users of meditation apps can also access animation films, a tracker, and a timer. In the evaluation period, it is projected that this factor will support the sector. These apps, which support student development of self-awareness and focus, have also been introduced by educational institutions.
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Corporate Spheres Turning to Meditation Apps – A Key Opportunity to Tap
High-performing workplaces, with a greater realization of importance of employee well-being, have also started incorporating meditation sessions and are highly relying on mindfulness meditation applications to achieve the same. Headspace, Calm, and other prominent players in market are eyeing profitable opportunities across corporate ecosystems. For instance, Headspace currently serves a clientele of nearly 250 corporates and the number is expected to grow exponentially in the near future. This trend has been prevalent for quite some time and is likely to intensify in the foreseeable years, as corporate offices have started overseeing employee well-being.
‘Headspace’ and ‘Calm’ Enhancing the First-Mover Advantage
The mindfulness meditation market remains a ‘highly consolidated’ space, wherein prominent brands ‘Headspace’ and ‘Calm’ claim nearly 70% of the overall market share. The influence of these brands in the global market space remains unshakable, given that they not only have the ‘first-mover’ advantage but also have extensive reach. While Headspace raised its game by building multiple high-profile partnerships with prominent brands like Casper and American Airlines, Calm made some major headlines by winning the ‘2017 iPhone App of the Year’ award from the Apple’s App Store.
Competitive Landscape:
Various players in the mindfulness meditation app are focusing on offering various features that is likely to give them an upper hand against their competitors. Majority of companies are focused on expansions, investments, acquisitions, delivery, portfolio expansion, and brand development. Key players also have a strong position in the global market with a large set of customers, which springs them with an edge over their competitors in the market.
- In August 2021, Headspace, an English-American online company, specialized in meditation, and Ginger, announced plans to merge. The two companies together formed “Headspace Health”, creating USD 3 Bn mental health company.
- In June 2021, Alium NFT and Europe’s largest mindfulness App, Syntuition announced a collaboration. The unique approach to development is expected to present new things into the NFT market with the help of Alium NFT Marketplace.
- In October 2021, Breethe, a global meditation app, announced that it partnered with WW International, Inc., a human-centric technology company powered by world’s leading commercial weight management program, to spread awareness regarding stress management and mindset in inculcating a healthy lifestyle.
Key Companies Profiled:
- Deep Relax
- Smiling Mind
- Inner Explorer Inc.
- Stop, Breathe & Think PBC
- The Mindfulness App
- Mindfulness Everywhere Ltd.
- Ten Percent Happier
- Breethe
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Key Segments Covered in Mindfulness Meditation Apps Industry Survey:
· By Operating System :
- for iOS
- for Android
- for Other Operating Systems
· By Type :
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Questionnaire answered in the Market outlook Report of Mindfulness Meditation Apps include:
- What is the key strategy deployed by large players to maximize Mindfulness Meditation Apps Market growth?
- What are the main challenges faced by players in the Mindfulness Meditation Apps market Demand?
- With the advent of technological advancement, how will the Mindfulness Meditation Apps market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Mindfulness Meditation Apps market size?
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