Mindfulness Meditation Application Market worth US$ 2,633.4 Million, Globally, by 2028 at 30.5% CAGR - Exclusive Report by The Insight Partners

"Mindfulness Meditation Application Market" study by "The Insight Partners" provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.

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.

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Mindfulness meditation is the spiritual practice of quieting the mind and letting go of negative thoughts. Mindfulness meditation apps can be installed and run on a smartphone or tablet. These apps teach users breathing techniques, muscle and body relaxation, and mental imagery and can help reduce stress, chronic pain, blood pressure, and various mental illnesses.

In mindfulness meditation application market, Asia Pacific (APAC) is one of the leading regions in the mindfulness meditation application market, accounting for a share of 23.0% in 2021. Countries such as China, India, and Japan hold a large portion of the market share, which is expected to increase in the coming years. Growing awareness among the young population, increasing advancement in technology, and rising number of upcoming players providing meditation apps are the key factors contributing to the mindfulness meditation application market growth in Asia Pacific. The highly demanding and stressful nature of day-to-day activities drives individuals to seek awareness about meditation. The big technology companies are focusing on this opportunity by introducing advanced meditation apps that promise to reinstate and rebuild mindfulness among users. As per the ESCAP Statistical Yearbook, 60% of the world's youth live in Asia Pacific, which is highly prone to a stressed and anxious atmosphere in education and workspace. Thus, such conditions are increasing the usage of meditation apps across Asia Pacific. The growing advancement in meditation apps from leading players is driving the mindfulness meditation application market. After undergoing a revamp in 2021 to cater to India's changing emotional and mental well-being needs, ThinkRight.me, a leading meditation and mindfulness app, is ready to bolster its offerings by launching a dedicated section for kids.

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The new app came with an improved UI, an extensive library of meditations, a journal, a meditation timer, and a chant timer. As per the online survey done in 2021 by the Indian Journal of Psychiatry to gauge the impact of the pandemic, about 40% of respondents reported anxiety or depressive symptoms. About 74% reported a moderate level of stress. This has increased the number of people seeking wellness solutions, such as mindfulness meditation. Fitbit India registered an almost 25-fold increase in meditation activity from 2019, with most of its users in India. The Indian meditation apps are also significantly contributing to the growth of the mindfulness meditation application market. Dhyana, launched in October 2019, saw a 33-fold increase in users between March and December 2020. Also, Mindhouse, another made-in-India meditation app, was launched during the peak of the pandemic in April 2020 and had achieved 0.2 million downloads by 2021.

Impact of COVID-19 Pandemic on Asia Pacific Mindfulness Meditation Application Market
In 2020, APAC was severely affected by the COVID-19 outbreak. China homes the most significant population worldwide, thereby imposing greater risk on many individuals. It is also a global leader in many global brands. According to Organization for Economic Cooperation and Development (OECD), the pandemic has also affected other significant economies, such as India, Australia, and Japan, which are experiencing low inflation. The governments of countries in APAC took possible steps to reduce the effects of the pandemic by announcing a lockdown, which negatively affected various industries. However, in 2021, with the ease of lockdown restrictions and the start of the vaccination process, offices resumed their operations. There is much speculation that the work-at-home modality is expected to become the new normal for many people. Growing demand from individuals for their wellness, and rising internet penetration were the key factors contributing to the growth of the mindfulness meditation application market.

The report is a combination of qualitative and quantitative analysis of the virtual reality industry. The global market majorly considers five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SACM). The report also focuses on the exhaustive PEST analysis and extensive market dynamics during the forecast period.

Mindfulness Meditation Application Market: Competitive Landscape and Key Developments
• Breethe
• House of Deeprelax
• Headspace
• Inner Explorer, Inc.
• Meditation Moments
• Mindfulness Everywhere Ltd.
• Simple Habit, Inc.
• Smiling Mind
• Ten Percent Happier
• The Mindfulness App

Key Elements that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the "Mindfulness Meditation Application market" market.
• Key market trends cracking up the growth of the "Mindfulness Meditation Application market" market.
• Challenges to market growth.
• Key vendors of "Mindfulness Meditation Application market" market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global "Mindfulness Meditation Application "market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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