Research details developments in the Mindfulness Meditation Apps Market with growth by 2029 || Key Players - Deep Relax, Smiling Mind, Inner Explorer Inc., Mindfulness Everywhere Ltd., Insights Network Inc.

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.

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.

The mindfulness meditation application market has been characterized as a ‘highly-consolidated’ space, with two of the industry giants - Headspace and Calm - commanding ~70% shares. These companies, having the ‘first-mover advantage’, continue being at the top of their game and hold vast customer bases from multiple regions. These companies also gain humongous benefits from their definitive partnerships with workplaces, educational institutions, and smartphone brands, as the latter three assist these companies in substantial expansion of their subscriber bases.

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Companies operating in the mindfulness meditation application market are paying attention to roll-out of new features boosting consumer convenience. Easy navigation remains a key factor dictating consumer decisions, and brands, in this regard, are focusing on crafting user-friendly interfaces. Moreover, brands are focusing on introduction of smart features, such as individual sound volume and sound timers, which would be instrumental in weaving fruitful customer experiences.

Key players are counting on A/B testing functionality to test specific aspects of their offerings and fix the necessary spots. In addition, key players are also relying on A/B testing to analyze user responses to variants of in-app experiences. Companies in the mindfulness meditation application market continue to hinge on strategic partnerships and collaborations in a bid to reap benefits from shared resources and capabilities.

The report on mindfulness meditation application market is a result of holistic approach and extensive methodology, wherein all the exclusive insights offered reflect the market evolution. The Fact.MR research study on mindfulness meditation application market offers ‘best-in-class’ analysis of the overall mindfulness meditation application market and its behavior over the assessment period. The report also offers a meticulous breakdown of the market segmentation and sheds light on key elements influencing growth of mindfulness meditation application market.

The research methodology followed for the penetration analysis of mindfulness meditation application market is a two-step approach combining primary and secondary research. While primary research is about interaction with the industry experts of mindfulness meditation application market and garnering compelling insights from them, the secondary research is about scanning through reliable sources and procuring reliable information on mindfulness meditation application market.

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