Report : Europe Mindfulness Meditation Application Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Operating System (iOS, Android, and Others) and End User (Individual and Corporate)
At 29.5% CAGR, the Europe Mindfulness Meditation Application Market is speculated to be worth US$ 776.86 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe mindfulness meditation application market was valued at US$ 164.91million in 2022 and is expected to reach US$ 776.86 million by 2028, registering an annual growth rate of 29.5% from 2022 to 2028. Growing awareness about meditation and rising integration smart are the critical factors attributed to the market expansion.
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. The benefits of mindful medication 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. 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, which is pushing the growth of the mindfulness meditation application market. 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 growth of the mindfulness meditation application market.
On the contrary, concerns regarding privacy of users' information and increased cyber-attack hurdles the growth of Europe mindfulness meditation application market.
- Based on operating system, the mindfulness meditation application market is segmented into iOS, Android, and others. The android segment is expected to hold largest market share in 2022 with a share of 62.6%, amassing US$ 103.18 million. It is projected to garner US$ 459.79 million by 2028 to expand at 28.3% CAGR during 2022–2028.
- Based on end user, the market is segmented into individual and corporate. Individual segment held the larger market share in 2022, with a share of 59.4%, amassing US$ 98.04 million. It is projected to garner US$ 448.85 million by 2028 to expand at 28.9% CAGR during 2022–2028.
Our regional analysis states that the UK captured 30.5% market share in 2022. It was assessed at US$ 50.34 million in 2022 and is likely to hit US$ 255.90 million by 2028, exhibiting a CAGR of 31.1% during the forecast period.
Key players dominating the Europe mindfulness meditation application market are Headspace; House of Deeprelax; Meditation Moments; Mindfulness Everywhere Ltd.; and The Mindfulness App.
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