Global Mindfulness Meditation Apps Market: Overview
The mindfulness meditation apps are going to see an increase in demand over the forecast period of 2019 to 2027, owing to rapid adoption of the self-help fad. It does not come as a surprise then that these are today the most downloaded and the most searched apps in the smartphone today.
And, owing to this demand, the global mindfulness meditation apps market is set to grow at an impressive CAGR (Compound Annual Growth Rate). That would mean a lot many opportunities of growth for market players and a considerable increase in market worth
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Global Mindfulness Meditation Apps Market: Competitive Landscape
The global mindfulness meditation apps market is marked with some significant developments that are set to shape the growth trajectory over the forecast period. It is also contributing to shaping up the competitive landscape.
As of now, the global mindfulness meditation apps market is highly consolidated. Two players – Headspace and Calm – hold about 70% of the market share. Both are reaping benefits of being first movers and are aggressively partnering with colleges, offices and other such social spaces. To maintain edge over others, players have to be on their toes, identifying what consumers need and how to offer them the right solutions.
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Global Mindfulness Meditation Apps Market: Key Trends and Drivers
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- A massive lifestyle change has stuck upon millennials with no warning whatsoever. If one digs deep, it is found that the result of today’ stress and anxiety levels stems directly from this switch. Work schedules are inhumanely longer and as nuclear families become the norm, even in regions where joint-set-ups were a cultural set-up is leading to weakening of primary bonds. As per a WHO (Word Health Organization) report, about 300 million people are suffering from depression in the world. It is one of the most common mental disorder in the world. And, thus this situation will lead to more people looking within. And, as this catches up with more people, the market for mindfulness meditation apps will only grow further.
- Social media is playing an intense role in bringing meditation to the forefront. Thanks to this tool and internet, more and more people are going for meditative practices and influencers such as Yoga Girl, Rachel Brathen and Yogasini, Radhika Bose are adding to the popularity further. While Bose has a following of 142k, Brathen commands influence over 2.1 million. They have podcasts, content in terms of social media posts and blogs and even videos dedicated to the cause. Rachel Brathen runs courses and workshops in America and broadcasts over her social media channels as well. And, thus this move towards mindfulness and meditation, driven by a rise in social media consumption is contributing to growth of global mindfulness meditation apps market in a big way.
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Global Mindfulness Meditation Apps Market: Geographical Analysis
Meditation is slowly becoming a part of everyday lives of Americans and thus it is not surprising that he region will lead the market of mindfulness meditation apps. It is being seen as the ultimate way to de-stress and unwind.
Another region that will show promise is the Asia Pacific (APAC), which is home to this technique and has a large base of people with high adoption rate for these practices. Coupled with Yoga, this technique is set to create untapped opportunities in the Asia Pacific region.
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