Mindfulness Meditation Apps market is anticipated to grow at a significant CAGR of 10.4% during the forecast period. Mindfulness meditation applications provide the tools that put meditation concepts into practice. Such applications include breathing exercises, yoga, and guided lessons to help the user become aware of his bodily sensations, thoughts, and feelings. The growing adoption of meditation as a practice to eliminate the effects of unhealthy lifestyles in youths has encouraged the promotion of the usage of meditation apps. According to the World Health Organization, depression is a common illness worldwide, with an estimated 3.8% of the population affected, including 5.0% among adults and 5.7% among adults older than 60 years. Further, approximately 280 million people in the world have depression. The growing prevalence of finance-related issues, marital troubles, and work-related stress have all contributed to an individual's stress level rising. This is an important factor anticipated to increase the use of mindfulness medication applications. Further growing investment in the meditation-related application and the growing number of start-ups in the domain are driving the market growth.
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For instance, in December 2020, Calm, a well-known meditation app, raised new capital at a valuation of $2 billion. The round was anticipated after the company was reported to be hunting for up to $150 million at a valuation of $2.2 billion. The investment came after mental health-focused startups as a category has performed well from a venture capital perspective.
In January 2022, Mindfulness studio, Open, closed a $9M Series an investment round, building on a $5.5M Seed round for a total of $14.5 fundraise. Open is a mindfulness studio offering experiences that combine breathwork, meditation, yoga, Pilates, and more to support transformation and personal development. Since launching in 2020, Open set out to build an ecosystem to meet people where they are at—anywhere, anytime, every level, on or offline.
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by Operating System (Android, iOS, and Others),
by Service Type (Paid-in App, and Purchases Free) and
by Age Group (6–12 Years Old,13–18 Years Old, and 19 Above)
Market Players Outlook
The major companies serving the global Mindfulness Meditation Apps market include Headspace Inc. Breethe, Smiling Mind, Inner Explorer Inc., Stop, Breathe & Think PBC, Mindfulness Everywhere Ltd., and Others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Breethe, a global meditation, and mental wellness app announced That it has partnered with WW International, Inc., a human-centric technology company powered by the world's leading commercial weight management program, to promote the importance of stress management and mindset in building healthy, sustainable habits.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global mindfulness meditation apps market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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