The demand for stress management in recent years has upped the search for meditation methods, creating a lucrative ground for entry of mindfulness mediation applications. Today, these applications, that come with a promise of anxiety control, have become a serious business worth billions of dollars. A boom of wellness–oriented lifestyles have become a profitable arena for investors. Future Market Insights predicts that this trend is more concrete than a passing phase as wellness gurus are expected to take up technology to reach out to younger population.
The growing demand for mindfulness meditation applications also comes as it is rectifying the bad image of overuse of mobile phones. Smartphones are extensively being used to achieve meditative states amongst beginners and regular practitioners. In the coming decade, the mindfulness meditation application market is projected to see a quantum leap as there is a massive shift from overworking to living mindfully.
Key Takeaways of Mindfulness Meditation Application Market
- North America to dominate global mindfulness meditation application market are it is poised to earn a valuation of US$ 45 Mn by the end of 2030
- Android users will lead the market gaining a 47bps of current market value by 2030
- 70% users are expected to belong to Generation Z as mental health awareness gains momentum on social media platforms
- Japan to be a key spender on mindfulness meditation apps as well as the youth seeks Zen life through technology
“Mindfulness meditation has gained immense popularity opening, a doorway for app developers to tap into the growing consumer need to live a better life. This is expected to increase the overall revenue generated by the ICT sector globally in the coming ten years. Mindfulness meditation apps not only teach meditation with simpler techniques but also help in addressing issues such as insomnia, anger management, and anxiety issues, which is drawing users to them,” says FMI analyst.
COVID-19 Impact on Mindfulness Meditation Application Market
For More Detailed Insights on Mindfulness Meditation Application Market
The downloads for mindfulness meditation have certainly seen a spike amidst the COVID-19 pandemic. According to a study, the top 10 wellness apps, operating in English language, witnessed 2 million downloads in April 2020.
The business has been growing for these apps as the pandemic has raised overall anxiety levels amongst users with layoffs, threat of diseases, death of loved ones, and in general uncertainty. Thus the need to manage stress can be felt with ferocity more than over amongst users and seekers.
Furthermore, strategies such as free access to frontline workers and increased number of days for free trial have also won the app makers a relatively wider clientele. While the ethics of using the pandemic to promote business can be contested, it is definite that the unprecedented times have led to unprecedented business for these apps.
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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