Mindfulness Meditation Apps Market: 'Headspace’ and ‘Calm’ Enhancing the First-Mover Advantage

Mindfulness Meditation Apps Market - A Report by Fact.MR

Fact.MR,
in its latest business intelligence study, depicts the nuts and bolts
of the global mindfulness meditation apps market. The mindfulness
meditation apps market report presents detailed information regarding
the drivers, restraints, opportunities and trends affecting market
growth. Each segment along with its sub-segment is analyzed in terms of
value and volume. Further, the mindfulness meditation apps market report
elaborates the market behavior of each vendor operating in the mindfulness meditation apps market.

According
to a new research study by Fact.MR, the mindfulness meditation
application market was valued at ~US$ 134 Mn in 2018, and is estimated
to grow by ~7% Y-O-Y in 2019. Influenced by a multitude of factors,
spanning from ubiquity of ‘self-care’ trend to growing practice of
mental health exercises, the market for mindfulness meditation
application is likely to see strong growth over the years to come.
Growing preference for meditation as a viable method to unwind is
serving as a major sales propellant of mindfulness meditation
application market.

Heavy reliance on mobile applications for
seamless management of daily routines is complementing growth strides of
mindfulness meditation application market. Mindfulness is mainstreaming
as a key element in reducing stress and nourishing tranquility, which
is further creating revenue-making opportunities for brands.
“Convergence of educational curriculums with mindfulness meditation
sessions is one of the prominent trends making its mark, uplifting the
revenues of companies offering mindfulness meditation or similar
applications”, suggests the Fact.MR report.

Key findings of the mindfulness meditation apps market study:

• Regional breakdown of the mindfulness meditation apps market based on predefined taxonomy.
• Innovative manufacturing processes implemented by mindfulness meditation apps market vendors in detail.
• Region-wise
  and country-wise fragmentation of the mindfulness meditation apps
  market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global mindfulness meditation apps market.

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On the basis of operating systems, the mindfulness meditation apps market study consists of:

• IOS
• Android

On the basis of service type, the mindfulness meditation apps market study incorporates:

• Paid
• Free

On the basis of region, the mindfulness meditation apps market study contains:

• North America
• Latin America
• Europe
• MEA
• East Asia
• South Asia
• Oceania

According
to the report, enrollment in yoga sessions was prominent until
meditations apps entered the fray, marking a new dawn for the
mindfulness meditation application market. As an increasing number of
people are perceiving self-care apps as a highly convenient and
pragmatic approach, when compared to attending yoga classes, the
application stores are witnessing a robust influx of meditation apps.

Corporate Spheres Turning to Meditation Apps – A Key Opportunity to Tap

High-performing
workplaces, with a greater realization of importance of employee
well-being, have also started incorporating meditation sessions and are
highly relying on mindfulness meditation applications to achieve the
same. Headspace, Calm, and other prominent players in market are eyeing
profitable opportunities across corporate ecosystems. For instance,
Headspace currently serves a clientele of nearly 250 corporates and the
number is expected to grow exponentially in the near future. This trend
has been prevalent for quite some time and is likely to intensify in the
foreseeable years, as corporate offices have started overseeing
employee well-being.

Key players analyzed in the mindfulness meditation apps market study:

• Headspace, Inc.
• Meditation Moments B.V.
• com, Inc
• Simple Habit, Inc.
• Insights Network, Inc.
• Breethe
• Ten Percent Happier
• Mindfulness Everywhere Ltd.
• The Mindfulness App
• Stop, Breathe, & Think PBC
• Committee for Children
• Inner Explorer, Inc.
• Smiling Mind
• Deep Relax

Queries addressed in the mindfulness meditation apps market report:

• Why are the mindfulness meditation apps market players targeting region for increased product sales?
• What patented technologies are the players utilizing in the global mindfulness meditation apps market?
• Which regions are displaying the fastest growth in the mindfulness meditation apps market?
• What are the underlying micro- macroeconomic factors affecting the global mindfulness meditation apps market?

The
mindfulness meditation market remains a ‘highly consolidated’ space,
wherein prominent brands ‘Headspace’ and ‘Calm’ claim nearly 70% of the
overall market share. The influence of these brands in the global market
space remains unshakable, given that they not only have the
‘first-mover’ advantage but also have extensive reach. While Headspace
raised its game by building multiple high-profile partnerships with
prominent brands like Casper and American Airlines, Calm made some major
headlines by winning the ‘2017 iPhone App of the Year’ award from the
Apple’s App Store.

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The
leading brands are also collaborating with smartphone companies, with
an aim of getting the mindfulness meditation applications installed in
phones scheduled for launch. The report states that a strategy of this
kind not only helps in building a broader customer base for the key
market players, but also helps in leveling up the brand awareness.  For
instance, in 2019, Calm ventured into a strategic partnership with
Samsung, upon which the features of the Calm app will be available in
the Samsung’s health app. Emerging players and new entrants in the
mindfulness meditation application market space are offering premium
services on a trial basis to reinforce their market standing.

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