Over the years, mental well-being is garnering attention worldwide. Digital health technologies have come to occupy a central position in the expanding array of medical products that aim at the troika of health, wellness, and fitness. The drive for mindfulness meditation apps market stems from this trend. Various aspects of the meditation form the consumer proposition for players in the mindfulness meditation apps market are focusing on. Finding peace of mind by balancing busy work-at-home schedules or unleashing the power of thoughts are cases in points
In recent months, apps for mindfulness have redefined the concepts of fitness, with a spectacular rise in downloads of such apps witnessed in various developing and developed regions. Online programs and courses that help individuals to find their paths to meditation witnessed a groundswell of attention never witnessed or imagined before in a short span of a few months after the outbreak of COVID-19 pandemic in early 2020.
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The COVID-19 pandemic redefined the concepts of meditation for many, with stress being a predominant aspect of people in extended stay-at-homes schedules. The developers of the mindfulness meditation apps helped have been carving out new consumer propositions centered on live-in-the-present moment. They promote the idea that users can reclaim their thoughts and channelize all the positive energy toward a common goal.
The business prospect around meditation apps has witnessed massive investments. Some players in the mindfulness meditation apps market are alluring consumers by offering free downloads. A few are adopting the strategy of penetrative pricing and offering a vast range of options to suit the proclivity of beginners and enlightenment needs of professionals. Mantras have become part of the package of the products in the mindfulness meditation apps market. Social media has helped expand the awareness about the positive effect that meditation brings to the daily life of individuals.
Mindfulness Meditation Apps Market
Over the past couple of years, mindfulness has exploded in popularity. In fact, it has arguably never been more important than in the middle of a global pandemic. According to the NHS website, paying more attention to the present moment, and to thoughts and feelings, can help to improve mental wellbeing and enables people to enjoy life and understand themselves better.
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During the first surge of coronavirus last March, mindfulness apps had unsurprisingly seen a huge surge in demand, with downloads up to 25 per cent higher in the early weeks, according to mobile insights and analytics platform App Annie. Thanks to the boom, there are now dozens of apps on the market to help you start – or continue – your path to mindfulness. The vast majority of these apps are free (at least at first) and offer short, guided meditations so it doesn’t matter if you’re a beginner or a pro. But there are also plenty of extras to look out for – from nostalgia-inducing bedtime stories, to calming background noises and high-quality graphics and videos to help you learn about the theory behind the trend. When searching to find the right app, it’s worth thinking about what the needs as well as what the likes.
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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