The global Mindfulness Meditation Apps Market was valued at USD 270.39 million in 2019 and is expected to reach USD 4,206.12 million by 2027, growing at a CAGR of 41.01% during 2020-2027. Rising cases mood disorders among all age groups, burgeoning disposable income with awareness about the apps are the prime factors responsible for the market growth.
Mindfulness meditation apps usually help in enhancing the self-regulation and self-awareness of attention among others processes involved in apps, which are anticipated to create new opportunities to address target end users and to expand the app content and design to underpin the current challenges. Mindfulness meditation applications also provide animation videos about how the mind works and remainder & tracker for tracking mind activities. The mindfulness meditation applications have found their adoption among every gender type regardless of their age.
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In today’s rapidly growing educational scenario, more and more kids are experiencing increasing levels of stress, anxiety, unique emotional and social challenges. Therefore, the demand for mindfulness meditation apps becomes the need of educational institutes. With the introduction of mindfulness meditation apps or applications in the education institutes, these apps are helping kids to develop a lifelong capacity for higher concentration, self-awareness, resilience and patience. Also, app developing companies are focusing on launching various initiatives across the world so that every teacher and student have access to their mindfulness meditation apps. Recently, industry giants in the global mindfulness meditation application market, the Calm, has launched “The Calm Schools Initiative” at a global level to ensure that hundreds of thousands of kids can use this app every day.
According to the American Psychological Association, millennials are the most stressed out generation in the 21st century. Millennials group has turned into mindfulness in a way to cater to the pressure of modern life. Globally, more and more millennials are reaching towards smartphone for relaxing their daily life problems and connecting with the surrounding world. Therefore, the global market has found significant momentum in the overall app downloads among the millennials with the emergence of mindfulness meditation apps to overcome their anxiety, stress and depression. Also, digital technologies and social media have made a significant impact on millennials to attract the use of mindfulness meditation apps to maintain their daily life activities smoothly.
The global market is curtailed with many challenges such as limited app transparency, brand consciousness for new entrants, high subscription, and market monopoly by key players. There has been a significant increment in the overall number of paid and free mindfulness meditation application subscribers in the recent years. Out of these subscribers, most of it account as new beginners, which may face several app operating and transparency challenges such as unavailability of app guide, limited access, privacy policies and offerings. Due to limited app transparency, the market for mindfulness meditation applications may find it challenging to maintain or attract existing and new users.
The market is primarily segmented on the basis of Operating System, Service Type, By Age Group, and geographic region.
By Operating System
By Service Type
By Age Group
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Based upon service type, global market is categorized into Paid-in App purchases, Free. In 2019, free app service segment accounted for the majority of the market share. This high share attributed to strong penetration of free services among consumers. Moreover, many app developers in global market offers both free and paid (in-app purchase) subscription services. Also only 2-3 consumers out of 50 consumers shows willingness to purchase premium apps. This trend is expected to change in the near future as more consumer are preferring premium apps with rising disposable income and awareness about the product. However, the increasing number of working population along with increasing disposable income is likely to amplify the value share of paid (in-app purchase) service type segment over the forecast period.
On the basis of operating system, the global market is categorized into Android, iOS, Others. Android user segment accounted for the largest share among all, and is expected to maintain its dominance over the study period. This is attributed to strong demand for android operating system across emerging nations. The continuous updates and technological advancements in the operating systems such as integration of smartphones with mindfulness meditation applications, expansion in the visualization and sound quality of the operating systems are the current trends also favoring the market growth. This objective can be achieved by continuous consolidation and increasing the R&D activities of the companies effectively.
Geographically, the global market is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is the largest revenue contributor followed by Europe and the Asia Pacific regions. In 2019, the North America region accounted for more than % of the global market.
The growth in the region is attributed to people’s high disposable income, and awareness towards the benefits of mindful meditation. Many key app developers have introduced their digital app platform in North America for providing the benefits of apps, along with continuous app updates. In order to tap opportunities from business in North America to re-invent their operations for digital economy and offer differentiated customer experiences.
Latin America is a relatively smaller market for ICT and the region is gradually moving up the technology growth ladder with a structured focus on innovation and adoption of latest technologies across various industries. Mexico is a rapidly growing hub for technology in Latin America and the country has been attracting foreign investments in the Mindfulness meditation application across diverse domains. The adoption of new technologies and increased penetration of the internet along with increasing per capita spending are expected to drive the regional market for mindfulness meditation application over the study time period.
The adoption of health & wellness digital platforms such as mindfulness meditation apps in India is at par with the global average and top app developing companies in developed markets have already set up their captives and development centers in the sub-continent. This has put India on the global technology map and pushed mindfulness meditation application revenues in the South Asia region to record heights.
Companies are focused on improving the regional presence. These companies are enhancing their go-to market strategies to reach target audience more effectively. Moreover, they also provide unique products to create an edge over others. Key players operating in this market include Calm, Headspace, Breethe, Insight Timer, Waking Up, Meditopia, BetterMe, Simple Habit, Aura Health, and Moov.