On Demand Wellness Software Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Cloud-based, Web-based); Application (Large Enterprises, Small & Medium Enterprises); and Region/Country
The on-demand wellness software market is expected to register a CAGR of approx. 8% over the period of 2022-2028. On-demand wellness software is displacing traditional methods of service by providing customized, on-demand services. It allows customers to choose the services of their choice, and depending on their availability, consumers can book or enroll in the services in advance based on the time slot when the service can be delivered to the consumers. The growing demand for on demand wellness software can be attributed to the increased digital engagement and the growing trends in beauty and wellness across the globe and the wellness industry has become increasingly attractive to investors owing to the technology-driven innovations contributing to market penetration. For instance, in June 2022, Booksy introduced the new add-ons feature, allowing service providers to exhibit their additional menu options, adding value to the end customers and helping the service provider to upsell their services. These new add-ons feature also allow the service provider to add new services like nail art, tips on wellness products, exhibit the premium products, and so on. Furthermore, the on-demand wellness software market is anticipated to grow on account of the increased adoption of environmentally friendly and organic wellness products. However, some of the restraints in the market including the no proper network connection are impeding the growth of this market all over the world.
Booksy, Soothe Inc., Urbanclap Technologies India Pvt. Ltd, STYLEBEE, Priv, Glamsquad, Zeel Networks Inc., Urban Massage Ltd., The Glam App, ManiCare are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the web-based category on demand wellness software category accounted for the significant share in the market in 2020”
Based on the type, the on-demand wellness software market is segmented into cloud-based and web-based. The web-based segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Web-based software is a collection of programs that use centralized data, are frequently operated on secure servers located outside of local networks or particular locations and are quickly accessible via the Internet
“Amongst application, the small & medium enterprises category is expected to witness considerable CAGR during the forecast period”
Based on the application, the market is fragmented into large enterprises and small & medium enterprises. The small & medium enterprises segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Software platforms that are available on demand help SMEs stay ahead of the competition by enabling them to make important business decisions quickly. Furthermore, small businesses have better access to financing, can borrow funds from the financial market rather than relying solely on bank loans, and are vital to the economy.
“North America to witness significant growth during the forecast period”
North America constitutes a major market for the on demand wellness software industry owing to the advancements in technology and rising demand for online wellness services. Stress, sedentary lifestyles, insufficient time for social and community activities, and other poor lifestyle choices are some of the critical risk factors responsible for rising chronic illnesses.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
Global on demand wellness software market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global On Demand Wellness Software Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global on demand wellness software market were the three major steps undertaken to create and analyze the adoption of on demand wellness software in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global on demand wellness software market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the on demand wellness software market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the on demand wellness software market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the on demand wellness software market. Further, we conducted factor analysis using dependent and independent variables such as an increased digital engagement and the growing trends in beauty and wellness, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the on demand wellness software market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global on demand wellness software market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the on demand wellness software market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global on demand wellness software market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global on demand wellness software market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global on demand wellness software market.
The main objective of the Global On Demand Wellness Software Market Study
The current & future market trends of the global on demand wellness software market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the on-demand wellness software market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Define and analysis of the regulatory framework for the on-demand wellness software market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the on-demand wellness software market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the on demand wellness software market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Emotion Detection and Recognition Market: Current Analysis and Forecast (2021-2027)
Emphasis on Technology (Feature Extraction & 3D Modeling, Biosensors, Natural Learning Processing (NLP), and Others); Software Tools (Facial Expression & Emotion Recognition, Gesture & Posture Recognition, Voice Recognition); Application Area (Marketing & Advertising, Law Enforcement, Surveillance & Monitoring, Entertainment & Consumer Electronics, Others); Region/Country.
November 15, 2022
Generative AI Cybersecurity Market: Current Analysis and Forecast (2024-2032)
Emphasis on Deployment (On-Premise, Cloud-Based, Hybrid); Technology (Generative Adversarial Networks (GANs), Variational Autoencoders (VAEs), Reinforcement Learning (RL), Deep Neural Networks (DNNs), Natural Language Processing (NLP), Others); Application (Network Security, Endpoint Security, Cloud Security, Application Security, Others); End-User (Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, IT & Telecom, Government and Defense, Energy and Utilities, and Others); and Region/Country
November 4, 2024
