Mindfulness Meditation Applications Market Soars Amid Increasing Tech-Savviness Among Fitness Enthusiasts, COVID-19 Leads to Immense Spike in Downloads -Future Market Insights
Fast-paced lifestyles and the productivity and stress-driven daily activities of individuals is pushing up fitness regimes aimed at improving physical and mental health of individuals. Capitalizing on this, technological giants have developed numerous fitness apps to aid this cause.
DUBAI / ACCESSWIRE / July 2, 2020 / Future Market Insights: The global mindfulness meditation application market has seen a dramatic spike in recent years, according to award-winning research firm Future Market Insights. Demand has accelerated due to the shifting inclination of millennials to focus on enhancing their quality of life. In today’s age, sedentary lifestyles have rendered individuals highly susceptible to several lifestyle-induced ailments such as hypertension and diabetes. The growing awareness about the same has prompted people to follow fitness regimes which help reduce the amount of stress they undertake in their daily course of life.
The explosion of interest in meditation is driven by the need to improve sleep patterns. It has been established that 25% of Americans suffer from insomnia. This has attracted the attention of investors seeking to establish base in a global market expected to increase more than two times by 2030. Various societal upheavals and the recent coronavirus pandemic have been pushing the stress thermometer to dangerously high levels, requiring a need to calm down the mind. Based on these trends, the mindfulness meditation application market shall expand at a CAGR of 8% between 2020 and 2030.
“Mindfulness meditation applications usage is characterized by the ubiquity of smartphones and access to the internet. As countries become economically powerful, per capital expenditure on electronics has risen, resulting in greater internet penetration and spread of digital literacy, especially in emerging economies. This is facilitating increased access to mindfulness meditation apps,” infers a prominent FMI analyst.
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Mindfulness Meditation Application Market- Key Takeaways
- North America shall dominate the global mindfulness meditation application market, surpassing the US$ 2 Bn threshold by 2022
- Generation-Z are primary end-users of mindfulness meditation applications as the stress levels amongst them are especially very high
- Android smartphone users are the biggest downloaders of mindfulness meditation applications. This is ascribed to the ease of availability on free online software purchasing stores such as Google Play
- Applications with multiple features such as heart-rate monitoring, pulse meters, calories calculator, water intake meters, etc. is the most popular category
- The Japanese demographics generates maximum demand pools for mindfulness meditation apps, owing to a stressful work culture practiced by the citizens
Mindfulness Meditation Application Market- Prominent Drivers
- Integration of mental health in the education curriculum of various countries is generating lucrative opportunities for software giants to design and launch new mindfulness meditation applications.
- Mental health disorders are becoming increasingly widespread due to the sedentary lifestyles led by people around the world. In order to prevent further degeneration of the mind, individuals are practicing yoga and meditation, necessitating the usage of mindfulness applications
- Rising technological savviness among fitness freaks is stimulating increased usage of various health and fitness applications, broadening market prospects
Mindfulness Meditation Application Market- Key Constraints
- Flooding of the online market with innumerable mindfulness meditation apps is limiting customer outreach. Due to the presence of so many applications, customers are confused and unable to ascertain the viability of these interfaces
- High subscription costs deter customers from making online purchases, compelling market players to introduce price benchmarks and make these apps more affordable to people
Anticipated Impact of the Coronavirus Outbreak
The COVID-19 pandemic has generated a northward propulsion in the usage of mindfulness meditation applications. The top ten wellness apps experienced two million downloads in April 2020. As the global pandemic has raised anxiety levels due to the imminent threats of lay-offs, salary cuts and job losses. To manage and reduce this stress, customers are reaching out to the virtual platform to find calm and peace of mind.
Various application providers are providing free access to frontline workers by increasing the number of free trial days which has attracted a wide clientele. Additionally, subscription fees have been lowered, increasing customer outreach across various countries.
Explore the mindfulness meditation application market report with 107 illustrative figures, 90 data tables and the table of contents. You can find a detailed segmentation of the market on https://www.futuremarketinsights.com/request-special-price/rep-gb-11707
The mindfulness meditation application market has started witnessed immense proliferation during an era where massive uncertainty concerning the existence of the human race prevails. Since a long time, a number of application providers have generated an attractive revenue ecosystem. Some of these developers are Calm.com, Inc., Smiling Mind, Ten Percent Happier, Headspace, Inc., Deep Relax, Inner Explorer, Inc., Mindfulness Everywhere Ltd., Breethe Insights Network, Inc., Stop, Breathe and Think PBC and Simple Habit, Inc. Constant diversification of offerings constitutes a winning marketing strategy by the abovementioned mindfulness meditation application providers. These players are constantly enhancing the interface experience by incorporating a highly personalized approach with insights from psychologists.
More Valuable Insights on Mindfulness Meditation Application Market
In its latest report, future market insights offers an unbiased analysis of the global mindfulness meditation application market, providing historical data for period of 2015-2019 and forecast statistics for the period of 2020-2030. To understand opportunities in the mindfulness meditation application market, the market is segmented on the basis of service type (paid and free), operating system (Android, iOS, and others), and across seven major regions.
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