Mindfulness Meditation Apps Market

Market Snapshot

Fact.MR – a market research and competitive intelligence provider- the market for mindfulness mediation apps is expected to witness a healthy growth CAGR of 8% from 2021-2031.

COVID-19 induced stress created an inclination towards using mindfulness meditation apps. Physical exercises, breathing techniques and change in daily routine have spurred development of mindfulness mediation apps. Thus, the market will expand to be valued at over US$ 180 Mn by 2031-end.

Key Points Covered in Mindfulness Meditation Apps Market

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Mindfulness Meditation Apps Market and How to Navigate
• Recommendation on Key Winning Strategies

Mindfulness Meditation Apps Historical Trends 2016-2020 and Future Outlook 2021-2031

According to Fact.MR, demand for mindfulness meditation apps expanded at under 8% CAGR, attributed to rising stress levels among individuals. Increasing prevalence of sedentary lives is prompting individuals to adopt meditation as a stress relieving activity.

Furthermore, the novel coronavirus pandemic generated panic amongst individuals. As the physical movement got restricted, stress and anxiety levels increased. Thus, the use of mindfulness meditation apps increased.

With the use of these apps, mental health quality among consumers has improved. Thus, the market is expected to gain a value of over US$ 180 Mn through 20201-2031, expanding at above 8% CAGR through 2021-2031.

How are Surging Stress & Depression Levels Nudging Demand for Mindfulness Meditation Apps?

According to the World Health Organization, over 264 million people suffer from depression globally. Mental health issues such as anxiety disorders, behavioural health disorder, bipolar disorders and obsessive-compulsive disorders are inclining. Ultimately, these issues have become life-threatening across several regions.

Work related stress, family issues, peer pressure, financial problems and fast paced competitive lifestyles have contributed to extreme stress levels in individuals. Thus, the use of meditation apps on a daily basis has increased.

Key Mindfulness Meditation Apps Developers Focusing on User Convenience?

The convenience of using mindfulness meditation apps from the comfort of homes is a huge advantage to users. In addition, meditation apps also present a questionnaire to be filled to give a customized exercise chart. This is augmenting their popularity among end users.

Mindfulness meditation apps have inbuilt technology which helps set daily reminders for exercise. Also, these apps keep a track of the internal physical changes that generate valid results. In addition, the apps are designed to generate results for weekly and monthly progress. This has pushed more people to use mindfulness meditation apps.

Rising Smartphone Ownership to Increase Mindfulness Meditation Apps Usage?

Smartphone companies are constantly redesigning phone models to suit the needs of the consumers. Contemporary smartphones comprise of input technologies and sensors that study the brain, mood fluctuations and changes in the body to create better charts for individuals.

The ease of using smartphones, calculating and tracking the growth of mental health is expected to boost the sales of mindfulness mediation apps in the forecast period.

Country-wise Analysis

How popular are Mindfulness Meditation Apps in the U.S and Canada?

According to the Anxiety & Depression Association of America (ADAA), anxiety disorders affect more than 40 million people in the U.S. Consequently, reliance on applications providing stress relieving exercises is increasing. Fact.MR projects the U.S market to expand at over 5% CAGR until 2031.

Canada, too has observed growth in the use of mindfulness meditation apps. Millennials and college going students from the region have shown an inclination towards taking care of mental health.

Why is India likely to emerge as a lucrative market?

In the Asia Pacific region, India is expected to emerge as a lucrative region for mindfulness meditation apps. The prevalence and practice of yoga in India has been constantly present.

In addition, the increasing population of teenagers in India is another reason for the propelling sales of the mindfulness meditation market. Thus, India will exhibit an expansion of around 7% CAGR until 2031.

Category-wise Insights

Why are Free Mindfulness Meditation Apps Preferred?

App designing companies focus on making free apps as they generate more users. Also, this increases the revenue of the app per download. Inclination towards free app has increased as they can be tried, tested and used easily.

Also, as buying is not involved, the ease of deleting apps has attracted users to delete apps if not found useful. Free mindfulness meditation apps are expected to yield around 40% revenue across the forecast period.

Paid Mindfulness Meditation Apps to Experience High Uptake?       

According to the mindfulness meditation apps industry analysis, app users are expected to show high inclination towards paid mindfulness meditation apps, attributed to their extensive features compared to free apps.

Subscription-based mindfulness meditation apps are instrumental in ensuring compliance with suggested exercise routines, as consumers expend a considerable portion of their income on the same. Paid apps are expected to witness expansion close to 8% in terms of value CAGR until 2031.

How has COVID-19 Impacted Demand for Mindfulness Meditation Apps?

The coronavirus affected life in more ways than one. The virus has induced feelings such as fear, sadness, anger, worry and constant restlessness. In addition, physical activities completely came to a halt.

Thus, to adapt to the new normal, dependence on apps increased. The demand for mindfulness meditation apps saw exhilarating growth as consumers showed an inclination towards practising body and mind relaxation techniques.

Competitive Landscape

Major players in the mindfulness meditation app are focusing on offering different activities that would gradually improve sleep quality through relaxation techniques.

• In May 2021, Headspace, a key player, has announced that it will be providing free subscription till May 2022 to all health care workers. Also, the company will launch new podcast channel and sleep subscription on apple podcasts.
• Another key player, Insight Timer, has partnered with different meditation teachers. The company witnessed an escalation of 59% from February to April in 2020. The app has gained popularity due to its relaxation programmes.

Report Scope

Key Segments Covered

• Operating System

  • Mindfulness Meditation Apps for iOS
  • Mindfulness Meditation Apps for Android
  • Mindfulness Meditation Apps for Other Operating Systems

• Type

  • Paid Mindfulness Meditation Apps
  • Free Mindfulness Meditation Apps

Mindfulness Meditation Apps Market- Scope of Report

A recent study by Fact.MR on the mindfulness meditation apps market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering mindfulness meditation apps.

The study also provides the dynamics responsible for influencing the future status of the mindfulness meditation apps market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the mindfulness meditation apps market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of mindfulness meditation apps across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of mindfulness meditation apps during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative mindfulness meditation apps markets?
• Which factors will impact the growth of mindfulness meditation apps?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the mindfulness meditation apps industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for mindfulness meditation apps are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global mindfulness meditation apps market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of mindfulness meditation apps during the forecast period.

Country-specific valuation on demand for mindfulness meditation apps has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of mindfulness meditation apps, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering mindfulness meditation apps has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the mindfulness meditation apps domain.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the mindfulness meditation apps industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.