— Allied Market Research
WILMINGTON, DE, UNITED STATES, November 2, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Mindfulness Meditation Application Market, by Service Type (Paid (In-App Purchase), Free), by Deployment Model (Cloud Based, On Premises), by Operating System (iOS, Android, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″.
The mindfulness meditation application market was valued at $97.60 million in 2021, and is estimated to reach $307.1 million by 2031, growing at a CAGR of 12.4% from 2022 to 2031.
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Utilizing techniques for mental training such as meditation, deep breathing, and other exercises, mindfulness meditation applications assist users in achieving a sense of tranquility. The use of these apps encourages self-control and self-awareness, which is anticipated to increase demand for this market, during the forecast period.
According to mindfulness meditation application market research, the android and iOS segments collectively accounted for around 98.45% market share in 2021, with the former constituting around 51.66% share. The iOS and android segments are expected to witness considerable CAGRs of 13.13% and 11.78%, respectively, during the forecast period.t
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The competitive environment of Mindfulness Meditation Application Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Mindfulness Meditation Application Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Inner Explorer, Inc.
Meditation Moments B.V.
Mindfulness Everywhere Ltd.
Simple Habit, Inc.
& Think PBC
Ten Percent Happier
The Mindfulness App and Many More
Region wise, Asia-Pacific held a significant global mindfulness meditation application market share, owing to the presence of government initiatives promoting yoga and meditation in this region. The demand is mostly being driven by early technological adoption and considerable mobile device penetration. Moreover, rapid urbanization and an increase in the application of sensor technology and smartwatches to upgrade mindful well-being are the primary factors that drive the growth of the mindfulness meditation application market in Asia-Pacific, North America, and Europe.
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The COVID-19 pandemic has significantly triggered market growth, attributed to the global rise in mental well-being. The growing desire for remote working in the face of the COVID-19 pandemic is predicted to push the demand for mental health. Since modern technologies have opened the way for smart devices to connect and analyze the mindfulness of their users, mindfulness mediation appl developers are opting for the in-app purchase and free service models to attract a huge customer base. Additionally, COVID-19-related anxiety cases that are increasing are probably going to have a big impact on the market, during the forecast period.
A mindfulness meditation application aids in teaching the mind how to relax by releasing negativity, slowing down anxious thoughts, and concentrating on the current moment. The demand for the mindfulness meditation application market is being fueled by a number of factors, including an increase in global cases of depression, anxiety, and mental illnesses.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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