Mindfulness Meditation Application Market is expected to reach US$ 2,633.4 Million by 2028

Growing Awareness About Benefits of Meditation is Driving Mindfulness Meditation Application Market

According to our latest market study on “Mindfulness Meditation Application Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Operating System and End User,” the mindfulness meditation application market size is projected to grow from US$ 533.2 million in 2022 to US$ 2,633.4 million by 2028; the mindfulness meditation application market share is estimated to grow at a CAGR of 30.5% from 2022 to 2028.

In recent years, the rapid change of pace, emphasis on productivity, and the stressful nature of all daily activities have created an extraordinary awareness of meditation. Generation X uses mindfulness as a personal practice to differentiate themselves from their competitors, and millennials use it as a team-building exercise. Furthermore, institutions and organizations of all shapes and sizes are building on this growing research base. Companies such as Aetna, Ford, and General Mills offer their employees meditation training sessions and spaces within their offices. Similarly, soldiers undergo mindfulness training in the military to sharpen their combat awareness. Benefits of mindful meditation have attracted people of different ages and backgrounds. Furthermore, in supervisory institutions, practitioners take medication as one of the primary practices. For example, medical professionals prescribe mindfulness in healthcare to address pain from poor eating and sleeping habits, addiction, depression, and chronic illness. Likewise, schools use it to improve their students' behavior, attention, and stress levels. For instance, since 2015, Lafayette Elementary School in Washington, DC, has had a "peace teacher" who conducted daily mindfulness practices. Major tech giants are capitalizing on this heightened awareness with the launch of mindfulness meditation apps that promise to restore and rebuild the user's mindfulness, pushing the growth of the mindfulness meditation application market. Based on the report by appinventiv, between 2015 and 2020, approximately 2,500 apps were launched in the mindfulness meditation application market. Studies claim that, in 2021, the mobile meditation app Calm saw global consumers spend approximately US$ 119.19 million for premium features and functionalities. Similarly, Headspace recorded approximately US$ 86 million in consumer spending during the same year. Berlin-based Meditopia, launched in 2017, saw an increase of 180% in consumer spending between 2019 and 2020, reaching almost US$ 134 million in in-app spending in 2021. Hence, the growing popularity of mindfulness meditation has attracted more and more companies to enter the industry and earn a good amount of money, contributing to the mindfulness meditation application market growth during the forecast period.

The mindfulness meditation application market is segmented into operating system, end user, and geography. The market analysis by operating system, the market is segmented into iOS, Android, and others. The market analysis by end user, the market is segmented into individual and corporate. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa and the Rest of Middle East & Africa), and South America (Brazil, Argentina, and the Rest of South America).

Impact of COVID-19 Pandemic on Mindfulness Meditation Application Market

The COVID-19 pandemic affected most businesses globally. The pandemic had a huge impact on the global economy during its peak in 2020, and the crisis has hampered the business activities in the IT industries. The pandemic hampered the business dynamics in every possible industry in its initial days. Further, the arrival of the pandemic in 2020 prompted a slew of challenges for global market operations. Healthcare infrastructures, the education sector, and corporates faced numerous challenges owing to the rising number of COVID-19 cases. The pandemic moved economies; however, the impact of COVID-19 on the mobile app industry has been limited. During the first half of 2020, the emergence of the COVID-19 pandemic slightly negatively impacted the mobile app industry. However, in the second half of 2020, app developers witnessed an upward trend in their revenues, especially in remote work, healthcare, and education sectors. People staying at home due to the pandemic increased the installation of various applications such as gaming, cloud meetings, education, grocery delivery, business apps, social media, and healthcare & fitness apps. With the increased usage of mobile devices and internet penetration worldwide, people are becoming more dependent on the internet for their day-to-day activities. Further, with ease in lockdown restrictions and reopening of shops from the second half of 2020, mindfulness meditation application market players significantly invested in digital technology, leveraging their wellness or meditation apps, making them more intelligent and secure. The pandemic has forced businesses to restructure their business models and focus on developing strong network connectivity to regain customers' confidence. Furthermore, the pandemic invoked a rising need for featured mindfulness meditation application solutions for taking care of patients, making it easy for individuals to stay on top of their needs. Therefore, although the global mindfulness meditation application market plummeted initially due to the adverse impact of the COVID-19 pandemic and it is expected to recover strongly due to the individuals’ increasing dependency on mindfulness meditation applications across the world.

Breethe; House of Deeprelax; Headspace; Inner Explorer, Inc; Meditation Moments; Mindfulness Everywhere Ltd.; Simple Habit, Inc.; Smiling Mind; Ten Percent Happier; and The Mindfulness App are among the leading players operating in the mindfulness meditation application market.

Mindfulness Meditation Application Market – by Region, 2021 and 2028 (%)