South Korea Mindfulness Meditation Apps Market Size To Grow At A CAGR Of 8.5% In The Forecast Period Of 2023-2028
The ‘South Korea Mindfulness Meditation Apps Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea mindfulness meditation apps market, assessing the market on the basis of its segments like operating systems and service types.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
South Korea Mindfulness Meditation Apps Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 166.5 million
• Forecast CAGR (2023-2028): 8.5%
• Forecast Market Size (2028): USD 269.1 million
The increasing awareness pertaining to the importance of mindfulness and mediation, particularly in response to stress, is leading to a rise in subscribers of mindfulness meditation apps. The growing cases of anxiety and depression among the young population are further providing impetus to the South Korea mindfulness meditation apps market.
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Mindfulness meditation apps enhance focus, improve academic and work-related productivity, bring positive emotions, provide calmness, reduce fatigue, and curb aggressive and frustrated behaviours. Hence, the increasing awareness about these advantages offered by these apps is fuelling the South Korea mindfulness meditation apps market growth. The increasing adoption of healthy lifestyles, rising disposable income, and rapid urbanisation are also encouraging the usage of these types of apps.
The strong foothold of electronic gadget manufacturers and advanced operating system developers is further bolstering the market. The increasing competition in the corporate sector owing to the rising number of workers, is leading to a greater inclination towards self-care. This factor is likely to offer expansion opportunities to the South Korea mindfulness meditation apps market in the forecast period.
South Korea Mindfulness Meditation Apps Industry Definition and Major Segments
A mindfulness meditation app is defined as a software designed application which provides scheduled and guided meditation that aims to help encourage mindfulness. These apps can be used on various internet-enabled electronic devices and provide flexibility as consumers can avail the features of theses app whenever and wherever desired.
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Based on operating systems, the market is segmented into:
By service type, the market is bifurcated into:
South Korea Mindfulness Meditation Apps Market Trends
The key trends in the South Korea mindfulness meditation apps market include the growing adoption of smartphones, mobiles, and tablets, which is leading to an increased accessibility of mindfulness meditation apps. Meanwhile, the surging availability of high-speed internet across cities such as Seoul and Busan, is further improving the performance and demand for mindfulness meditation apps.
Integration of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), is another crucial driving factor of the mindfulness meditation apps market in South Korea. These apps are slowly becoming more human centric which is attracting masses. Advancements in the mindfulness meditation apps features, which include chat bots, audio instructions, high-definition video, and self-help tutorials, among others are bolstering their usage across a wider range of consumers.
Further, the work-from-home culture, induced by the outbreak of COVID-19 pandemic, is playing a pivotal role in the market by enabling the users to spend more time on the app. Moreover, these apps can also help improve sleep quality which is a significant interest for people struggling with lack of sleep. Over the forecast period, the rapid digitalisation across the rural and semi-urban areas is expected to garner the market growth.
Key Market Players
The major players in the South Korea mindfulness meditation apps market report are:
• Headspace Inc.
• Calm.com, Inc.
• Mabo Inc.
• Simple Habit Inc.
• Insight Network Inc
• Waking Up, LLC
• The Meditation Company GmbH
• BetterMe Limited
• Aura Health
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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