The global meditation apps market is expected to rise owing to various factors including an increase in the prevalence of mood disorders among people of all ages and a growth in the purchasing power of people in various emerging and developed countries . Moreover, rising mental health awareness is driving the demand for meditation apps and propelling the meditation apps market forward.
The popularity of several meditation apps has grown in recent years due to their ability to help improve self-awareness and self-regulation. This element creates potential for revenue generation in the meditation apps market.
Many companies in the meditation app market industry conduct more research to address issues raised by target end users and to develop their app designs and content. This reason is contributing to the growth of the meditation apps market. Several meditation apps provide animated movies on various elements of mental functioning, as well as a tracker and reminder to record mental activity. Hence, there has been a tremendous increase in the usage of these meditation apps by people of all ages and genders, supporting the global growth of the meditation apps market.
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The rapid development of the global education sector has led to increased levels of anxiety and stress among students, as well as an increase in social and emotional problems. As a result, many educational institutions around the world are ramping up their use of meditation apps. This aspect is driving the global meditation apps market.
Read the Market Research Report, “Global Meditation Apps Market Segmented by Operating System (Android, IOS, Others), Service (Free, Paid), and Region – Forecast and Analysis 2022-2028” by SkyQuest
The meditation apps market is expected to witness a dramatic expansion between 2022 and 2028. The highly demanding and stressful nature of daily activities has driven many people to seek peace in recent years, raising the awareness of meditation immensely. Long inhuman working hours, as well as the increase in nuclear family configurations to care for young children and family obligations, are factors that contribute to mental health problems. Meditation has emerged as a cure for these mental illnesses that are not medically treatable.
Over the years, many tech companies have capitalized on this opportunity by releasing meditation apps that claim to restore and recreate users’ consciousness.
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The market for meditation apps is now largely concentrated. Calm and Headspace represent more than 50% of the market. Both companies are building on their first market entry by actively working with offices, institutions, and social fields to solidify their position in the meditation app industry. Calm has been downloaded 50 million times, according to access statistics. The simplicity of the app’s design, which was ingeniously crafted with the help of sleep psychologists, is a major part of its massive appeal.
The COVID-19 pandemic has produced considerable emotional anguish among individuals. Humans have suffered from various mental health issues due to the unexpected global lockdown, including sadness, anxiety and other illnesses. All over the world, people have suffered psychologically because of their inability to leave their homes. Due to this mental tension, I gradually turned to yoga, spirituality and meditation. As a result, the popularity of these apps skyrocketed during the COVID-19 shutdown.
The United States and Canada are expected to provide the most substantial contributions to the development of the regional market in North America. Additionally, the number of patients with depression, anxiety, and other mental illnesses in the United States is expected to exceed 40 million, which is expected to be another powerful factor driving the demand for mindful apps. Canada is expected to be another profitable market in the region. The growing prevalence of depression among young people and students may increase the demand for meditation apps.
India is expected to be one of the most profitable markets in the world. Yoga, a spiritual and mindful practice, originated in India. The growing popularity of yoga and mystical gurus has prompted young people to use such meditation apps. Moreover, Indian government initiatives such as Yoga Day have further inspired teenagers and adults to engage in such activities. In addition, the widespread use of cell phones across the country has exposed people in rural areas to such applications. As a result, India has been identified as one of the most profitable markets in the world.
From 2016 to 2020, demand for meditation apps grew by 8%. The growing acceptance of unhealthy lifestyles among young people has prompted the development of meditation apps. As a result, the popularity of these apps has increased since then.
According to the World Health Organization, depression affects approximately 246 million people worldwide. Anxiety, bipolar disease and other mental health issues are the most common issues facing today’s generation.
Financial problems, marital problems, and work-related stress have all led to an increase in an individual’s stress level. This is probably another important factor that will increase the use of medical applications, thereby boosting the industry.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
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SkyQuest has segmented the global meditation apps market by operating system, service, and region:
Global Meditation Apps Market by Operating System (Revenue, USD Million, 2021-2028)
android
iOS
Others
Global Meditation Apps Market by Service (Revenue, USD Million, 2021 – 2028)
Paid
Free
Global Meditation Apps Market by Region (Revenue, USD Million, 2021 – 2028)
North America
WE
Canada
Europe
Germany
France
UK
Italy
Spain
The rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Central and South America
Brazil
Rest of CSA
Middle East and Africa
GCC countries
South Africa
Rest of MEA
List of Key Players of the Meditation Apps Market
Quiet (US)
Headspace (UK)
Breathe (Canada)
Insight Timer (Australia)
Waking Up (US)
Meditopia (Germany)
BetterMe (Cyprus)
Simple Habit (US)
Aura Health (USA)
Moov (USA)
ShutEye: Sleep tracking (Portugal)
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This press release was published on openPR.
