Mindfulness Meditation Apps Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Published on : Jul-2019 | List of Tables : 90 | List of Figures : 107 | No. of Pages : 170 | Report Code : FACT3075MR |

Mindfulness Meditation Application Market in Numbers

  • The mindfulness meditation application market is likely to see an incremental opportunity of ~US$ 184 Mn between 2019 and 2029. With self-care blooming as the latest health and wellness trend, meditation apps are gaining their due and entering the ‘most searched’ and ‘most downloaded’ lists of applications.
  • The market for mindfulness meditation application is poised to exhibit strong growth at a CAGR of ~8.5% during the time period of 2019-2029.
  • North America will continue being the leading market for mindfulness meditation application, with majority of Americans practicing meditation on a regular basis. With people seeking ways to unwind and de-stress, citizens across the U.S. and Canada are making use of mindfulness meditation applications on a regular basis.
  • India - the hub of origination of this oldest form of getaway - is likely to remain the high growth market for mindfulness meditation application. With yoga and meditation being two of the widely adopted means of rejuvenation across the country, India will continue as a mine of opportunities waiting to be tapped by market players.

mindfulness meditation application market snapshot

The Competition Landscape

The mindfulness meditation application market has been characterized as a ‘highly-consolidated’ space, with two of the industry giants - Headspace and Calm - commanding ~70% shares. These companies, having the ‘first-mover advantage’, continue being at the top of their game and hold vast customer bases from multiple regions. These companies also gain humongous benefits from their definitive partnerships with workplaces, educational institutions, and smartphone brands, as the latter three assist these companies in substantial expansion of their subscriber bases.

Companies operating in the mindfulness meditation application market are paying attention to roll-out of new features boosting consumer convenience. Easy navigation remains a key factor dictating consumer decisions, and brands, in this regard, are focusing on crafting user-friendly interfaces. Moreover, brands are focusing on introduction of smart features, such as individual sound volume and sound timers, which would be instrumental in weaving fruitful customer experiences.

Key players are counting on A/B testing functionality to test specific aspects of their offerings and fix the necessary spots. In addition, key players are also relying on A/B testing to analyze user responses to variants of in-app experiences. Companies in the mindfulness meditation application market continue to hinge on strategic partnerships and collaborations in a bid to reap benefits from shared resources and capabilities.

global mindfulness meditation application market

Key Factors Driving Growth of Mindfulness Meditation Application Market

  • With increasing levels of stress and shrinking level of attention becoming more of a broader issue, consumers are actively relying on smart applications for relief. This, in turn, is creating a fertile ground for growth of mindfulness meditation application market through 2029.
  • Convergence of academic curriculum and mental health education is bringing new opportunities for market players to capitalize on. Schools and universities are utilizing such apps to rewire the learning capabilities of students and help them thrive in academics.
  • Rising practice of introspective awareness is working in favor of companies offering mindfulness meditation applications. Seminars on introspective awareness place significant emphasis on the umpteen benefits of mindfulness meditation, upholding the growth of mindfulness meditation application market.
  • Growing prevalence of mental health disorders, such as mood disorders and anxiety disorders, across various age groups is resulting in a massive shift to mindfulness meditation as an effective remedy.
  • Consumers are downloading mindfulness meditation applications to practice new ways of meditation amid all the daily hustle and bustle, propelling growth of mindfulness meditation application market.
  • Increasing use of smartwatches and smart screens to have ‘round-the-clock’ connectivity with meditation apps has become a new norm for closely monitoring mental health and well-being. This, in turn, is likely to favor growing adoption of mindfulness meditation applications offering seamless IOT connectivity.
global mindfulness meditation application market analysis and forecast type

Key Challenges Besetting Growth of Mindfulness Meditation Application Market

  • Limited transparency prevails as a key drawback of mindfulness meditation applications. Consumers find multiple applications flooding the internet, but a very few of them backed with solid research findings. Such instances dent consumer confidence and mark and this, in turn, creates significant challenges for the aspiring brands vying to make it big in mindfulness meditation application market space.
  • Higher subscription rate remains a key stumbling block to the growth of mindfulness meditation market. Majority of subscribers display significant reluctance to pay for these apps, owing to their high subscription costs. Consequently, companies are extensively focusing on effective price benchmarking as an essential cornerstone for boosting their subscription bases, given that price has and will continue to be a crucial consideration of consumers.

Mindfulness Meditation Application Market - Additional Insight

Digital Wellbeing with a ‘Right’ Set of Features - A Winning Imperative for Brands

As the quest for best type of mindfulness meditation application continues, market players vie to understand what makes the consumers tick. Brands are pulling their socks up to offer the right blend of features in their offerings, for beginners as well as veterans, which will better serve the evolving requirements of consumers.

Some of the most desired features include guided meditation, one-to-one chat support, notifications & reminders, and progress trackers, and manufacturers are considering the aforementioned for adding value to consumer experiences. Applications for both Android and IOS operating systems are being developed with comprehensible onboarding interfaces, so that consumers get easy access to all the available features.

Mindfulness Meditation Application Market - Research Methodology

global mindfulness meditation application market regional competitive matrix

The report on mindfulness meditation application market is a result of holistic approach and extensive methodology, wherein all the exclusive insights offered reflect the market evolution. The Fact.MR research study on mindfulness meditation application market offers ‘best-in-class’ analysis of the overall mindfulness meditation application market and its behavior over the assessment period. The report also offers a meticulous breakdown of the market segmentation and sheds light on key elements influencing growth of mindfulness meditation application market.

The research methodology followed for the penetration analysis of mindfulness meditation application market is a two-step approach combining primary and secondary research. While primary research is about interaction with the industry experts of mindfulness meditation application market and garnering compelling insights from them, the secondary research is about scanning through reliable sources and procuring reliable information on mindfulness meditation application market.

A new research study published by Fact.MR lays bare key insights into growth and evolution of mindfulness meditation application market through 2029. The research study focuses on key aspects of mindfulness meditation application market and sheds light on factors shaping demand. The research report on mindfulness meditation application market is a result of extensive research and promises a comprehensive evaluation of the market stratosphere.

Chapter 1 - Global Mindfulness Meditation Application Market - Executive Summary

The executive summary in the research study on mindfulness meditation application market offers a quick in-depth summary of the market growth and sheds light on the key insights governing growth of the mindfulness meditation application market landscape. This chapter offers a concise opportunity assessment wherein the readers get to understand latent opportunities prevalent in the global market space.

Chapter 2 - Global Mindfulness Meditation Application Market Overview

This chapter in the mindfulness meditation application market report gives a brief glance at the market coverage/ taxonomy of mindfulness meditation application market and talks about the key aspects instrumental for growth. The chapter offers a brief introduction and definition of the mindfulness meditation application market, which also helps readers with better understanding of the market fundamentals.

Chapter 3 - Key Market Trends

This chapter in the mindfulness meditation application market report talks about overarching trends impacting market growth. The chapter also talks about some of the product developmental trends crucial for readers to understand where the market is headed to.

Chapter 4 - Market Background

This chapter in the mindfulness meditation application market report gives a quick idea of the market background. Information about key investment prospects also form a crucial part of this chapter. The chapter also features a list of prominent active app developers operating in the mindfulness meditation application market. Several other parts of this chapter include adoption of mindfulness meditation application by age group and market dynamics (drivers, restraints, trends, and opportunities).

Chapter 5 - Global Mindfulness Meditation Application Market Demand Analysis and Forecast

This chapter offers a historical market value and also pinpoints the current and future market value with authentic projections. The chapter in the mindfulness meditation application market report talks about Y-o-Y growth trend analysis and an absolute $ opportunity analysis for the readers to bank on.

Chapter 6 - Global Mindfulness Meditation Application Market Analysis and Forecast by Operating Systems

This chapter offers detailed analysis of the mindfulness meditation application market by operating system. This analysis has been offered on the basis of different types of operating systems, including IOS, Android, and others.

Chapter 7 - Global Mindfulness Meditation Application Market Analysis and Forecast by Service Type

This chapter offers a comprehensive look of the mindfulness meditation application market analysis and forecast by service type. The service types included in the study are of paid and free, and the market attractiveness index has also been explained in detail.

Chapter 8 - Global Mindfulness Meditation Application Market Analysis and Forecast by Service Type

This chapter in the mindfulness meditation application market report gauges demand for mindfulness meditation application across several regions. Some of the key regions featured in this research study include North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).

Chapter 9 – North America Mindfulness Meditation Application Market Analysis and Forecast

This chapter in the research study on mindfulness meditation application market report focuses on growth of mindfulness meditation application market in North America. The growth has been analyzed by taking demand in the US and Canada into consideration and the regional trends impacting growth.

Chapter 10 – Latin America Mindfulness Meditation Application Market Analysis and Forecast

This chapter in the research report on mindfulness meditation application market report elaborates on growth of Latin America mindfulness meditation application market. Moreover, a special focus on the regional trends also forms the foundation of this chapter that offers an in-depth outlook of the regional market growth.

Chapter 11 – Europe Mindfulness Meditation Application Market Analysis and Forecast

This chapter in the research study on the mindfulness meditation application market report offers a sneak-peak into the European market and dynamics influencing the regional market growth.

Chapter 12 – South Asia Mindfulness Meditation Application Market Analysis and Forecast

This chapter gives in-depth knowledge about the South Asia mindfulness meditation application market and traces latent opportunities across developing economies of South Asia.

Chapter 13 – East Asia Mindfulness Meditation Application Market Analysis and Forecast

This chapter offers a deep dive into the East Asia mindfulness meditation application market and gives a thorough analysis of the demand-supply scenario across various regions of East Asia.

Chapter 14 – Oceania Mindfulness Meditation Application Market Analysis and Forecast

This chapter throws light on details of the Oceania mindfulness meditation application market and dynamic facets influencing growth of this regional market space.

Chapter 15 – Middle East & Africa Mindfulness Meditation Application Market Analysis and Forecast

This chapters underlines the crucial aspects and elements of MEA mindfulness meditation application market and also focuses on factors impacting growth.

Chapter 16 – Emerging Countries Mindfulness Meditation Application Market Analysis and Forecast

This chapter elaborates on growth of mindfulness meditation application across emerging countries, including China, India, and Mexico and the regional trends having profound influences on market growth.

Chapter 17 – Market Structure Analysis

This chapter offers a close look of the market structure analysis and a dashboard view of the companies operating in the global market space. There is a detailed view of the pricing assessment by competition, which assists the market players in terms of price benchmarking.

Chapter 18 – Company Profiles

This chapter gives concise information on the companies operating in the mindfulness meditation application market, wherein vital aspects including regional presence, key focus areas, product portfolios of leading brands have been included and discussed in detail.

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Mindfulness Meditation Apps Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029