New York, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Mindfulness Meditation Application Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Operating System (iOS, Android, and Others) and End User (Individual and Corporate)” The global mindfulness meditation application market growth is driven by growing awareness about meditation and rising smart technologies integration, the highly demanding and stressful nature of day-to-day activities drives individuals to seek awareness about meditation.
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| Market Size Value in | US$ 533.2 Million in 2022 |
| Market Size Value by | US$ 2,633.4 Million by 2028 |
| Growth rate | CAGR of 30.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 128 |
| No. Tables | 61 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Operating System, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Mindfulness Meditation Application Market: Competitive Landscape and Key Developments:
Breethe; House of Deeprelax; Headspace; Inner Explorer, Inc; Meditation Moments; Mindfulness Everywhere Ltd.; Simple Habit, Inc.; Smiling Mind; Ten Percent Happier; and The Mindfulness App are among the leading players profiled in the mindfulness meditation application market report. Several other essential market players were analyzed for a holistic view of the mindfulness meditation application market and its ecosystem. The report provides detailed market insights, which help the key players to strategize their growth, as mentioned below.
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In 2020, Breethe, a global meditation and mental wellness app, announced that it collaborated with WW International, Inc.—a human-centric technology company powered by the world's leading commercial weight management program—to promote the importance of stress management and mindset in building healthy, sustainable habits
In 2020, the Simple Habit meditation app launched "Better Together," a mental health awareness initiative to help people connect through the COVID-19 crisis.
North America accounted for a major share of the global mindfulness meditation application market in 2021 and is expected to lead the market throughout the forecast period. North America is one of the most significant regions for adopting and growing new technologies due to favorable government policies that boost innovation, a substantial industrial base, and high purchasing power. COVID-19 has had a significant impact on North America due to a high number of immigrants traveling through the region, the lack of an initial stage lockdown in the region, and the presence of a large number of virus carriers in the region at the same time, spreading the disease rapidly.
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The US, Canada, and Mexico had a significant increase in the number of COVID-19 infected patients. The pandemic also impacted the healthcare education sector, which later stood at recovery owing to the growing influence of social distancing measures and appropriate communication infrastructure. Thus, in the first half of 2020, the impact of the pandemic on the healthcare education sector and lockdown majorly affected the mindfulness meditation application market dynamics. However, the presence of two major economies, the US and Canada; wide-scale internet users; and the availability of major meditation app providers in the region have made North America a leading market for mindfulness meditation applications. Thus, the rising shift of the healthcare sector to online media, owing to the pandemic, is positively affecting the growth of the mindfulness meditation application market across the region.
Rising Smart Technologies Integration: Integrating technology into meditation makes it more human-centric, increasing the adoption rates and driving the market. There are several meditation techniques currently being developed and already in use. However, the mindfulness meditation application is the most popular technology among those who meditate. Applications can be downloaded to most smart devices such as phones, tablets, laptops, computers, and even TVs. Therefore, consumers can use meditation apps wherever they go, allowing users to meditate in a busy environment.
Buddhify is a meditation and mindfulness application designed for diversity. It depends on the users and their specifications. For example, a user can tell the app what activity they are currently doing, and the app provides a suitable meditation session for the user based on their current environment. Technologies in the form of binaural beat music and sound charts make deep delta states more accessible. Perhaps one of the most beneficial properties that technology brings to meditation is its ability to help the user reach a meditative state faster. This is especially important for those new to meditation because it encourages users to experience meditation's benefits effectively and return to it for mental, physical, and spiritual nourishment. Hence, the rising integration of smart technologies is driving the market.
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Mindfulness Meditation Application Market: Industry Overview
The mindfulness meditation application market is segmented into operating system, end user, and geography. The mindfulness meditation application market analysis by operating system, the mindfulness meditation application market is segmented into iOS, Android, and others. The mindfulness meditation application market analysis by end user, the mindfulness meditation application market is bifurcated into individual and corporate. Based on geography, the mindfulness meditation application market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa and the Rest of Middle East & Africa), and South America (Brazil, Argentina, and the Rest of South America).
The growing popularity of meditation apps in North America is attracting more and more businesses to enter the industry. Popular meditation apps include Insight Timer, Smiling Mind, MyLife Meditation, UCLA Mindful, Healthy Minds Program, Calm, Headspace, Meditopia, Daily Yoga, Happier, Aura, Meditation Studio, Inscape, Unplug, Simple Habit, Waking Up, Zen, Muse, and Sattva. Thus, the presence of a large number of meditation apps in North America is anticipated to drive the mindfulness meditation application market. The emergence of the COVID-19 pandemic accelerated the adoption of meditation apps, owing to an increase in the number of people going through anxiety and depression, mostly the young population. 40% of adult Americans claim to meditate at least once a week. The growing pressure on the young population of North America for studies, education, and job significantly affects mental health, which is accelerating the need for mindfulness meditations, propelling the market's growth.
As per the new data published by the State of Mental Health in America report, 19% (~47.1 million) of people in the US are living with a mental health condition, which is an increase of 1.5 million compared to 2019. Thus, people focus on meditation and yoga to cope with depression, combat anxiety, and get better sleep. There was a surge in demand for mindfulness meditation apps in 2021. The growing investment from the leading players in the meditations apps business to achieve a competitive edge over the competitors is propelling the market growth. For instance, in 2019, the meditation app "Calm" added investment worth US$ 88 million in Series B and became mental health's first unicorn. In July 2029, the company had further invested US$ 27 million, and its overall funding stood at US$ 143 million.
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In addition, in June 2020, Headspace secured US$ 47.7 million more equity funding, as per the US Securities and Exchange Commission. According to the Centers for Disease Control and Prevention's National Center for Health Statistics report in 2019, the number of US adults and children practicing mindfulness exercises has increased significantly. Additionally, the leading companies such as popular meditation apps Headspace and Calm offer a kid-friendly curriculum for meditation. Thus, the number of meditating users in the US has surged by three times since 2012. Thus, the growing awareness of meditation in people has accelerated the need for meditation apps, aiding the mindfulness meditation application market growth.
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