Global On-demand Wellness Software Market Size, Share & Industry Trends Analysis Report By Type (Web-based and Cloud-based), By Application (Small & Medium Enterprises and Large Enterprises), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the On-demand Wellness Software Market
Market Report Description
The Global On-demand Wellness Software Market size is expected to reach $647.4 million by 2028, rising at a market growth of 8.2% CAGR during the forecast period.
Users of on-demand wellness software have access to a marketplace where they can reserve wellness services from contract workers who travel to them. Either independent business partners who promote the platform or internal service providers who work only for the platform provide the services. Due to the rising demand for at-home wellness as well as beauty services as well as the influence of social media, the wellness industry is expanding quickly. To maintain a competitive edge in the market, the vendors are moving to the digital platform and providing specialized services to their clients.
One of the main factors propelling the market's expansion is the provision of a platform for on-demand wellness services which can be performed in an office or at home, as well as the ability for wellness contractors to advertise and offer their services in a marketplace. The demand for on-demand wellness software is also being driven by features like appointment scheduling and user payment collection.
The software matches users with providers who will travel to provide the service at the scheduled time after users select a service, provider, and time that work with their schedules (typically via a mobile application). Through the use of such software, companies can offer wellness services to their staff members on-site, and wellness service providers can increase their clientele and streamline their schedules.
COVID-19 Impact Analysis
During the COVID-19 pandemic, on-demand applications became essential, and this industry underwent significant change. The adoption of digital technology made it possible for wellness businesses to offer their clients online consultations. In response to the crisis, many wellness businesses provided free or reduced-price access to their services. The pandemic has raised the value of self-care & mental health as well as raised consciousness of personal wellness. In response to the increased demand for on-demand pay in the COVID-19 era, employers are now providing it as a benefit to employees.
Market Growth Factors
Rising Adoption of Corporate Wellness Platform
The importance of employee health is now being recognized by businesses all over the world. The numerous advantages this change offers are a major contributing factor. Businesses can expect to maximize their efficiency with a healthy workforce, which will help them survive in today's cutthroat business environment. And in this regard, having a corporate wellness platform is proving to be useful. Before, only health examinations or insurance coverage as part of the company's health care initiative were available to employees. The emphasis now is on a mobile-first culture, though.
Consumer Behavior Modification
Consumer behaviors, priorities, and shopping habits have undoubtedly changed as a result of stay-at-home and social isolation orders. People now depend even more on omnichannel and new online shopping experiences. Additionally, there has been a greater emphasis placed on value-based shopping, accessibility, and availability. Along with where to shop factors that influence consumer choice include the quality of the products and the reason for buying (to support their local community and economy).
Market Restraining Factors
Skill Gaps among the Development Team
The creation of on-demand services apps can be sufficiently complicated by a lack of the necessary knowledge and skills in the development team. The workflow of the entire project will be affected by poor planning and execution, which will consume a sizable portion of the budget without achieving the desired results. While continuing to use technologies that don't meet the demands of the current industry will set the users back. A solution is working with a reputable software engineering vendor with adequate knowledge, a background in the necessary technologies, and successful track records.
Based on-demand wellness Software type, the on-demand wellness software market is segmented into web-based, and cloud-based. The cloud-based segment acquired a significant revenue share in the on-demand wellness software market in 2021. Advanced features of cloud-based apps include access to a wider variety of software, such as development tools, application storage, and on-demand computing cycles. Platforms with slow internet connections can benefit from the ability of cloud applications to operate entirely or partially offline during the forecast period.
On the basis of on-demand wellness software application, the on-demand wellness software market is fragmented into large enterprises, and small & medium enterprises. In 2021, the small & medium enterprises segment held the largest revenue share in the on-demand wellness software market. On-demand software platforms help SMEs run more efficiently, make key business decisions quickly, and keep a competitive edge. Additionally, small businesses are vital to the economy's functioning, have better access to financing, and can borrow money from the financial sector rather than primarily relying on bank loans.
|Market size value in 2021||USD 377.5 Million|
|Market size forecast in 2028||USD 647.4 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 8.2% from 2022 to 2028|
|Number of Pages||131|
|Number of Tables||240|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the on-demand wellness software market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the on-demand wellness software market by generating maximum revenue share. This is because of developments in technology and a growing preference for online wellness services. Stress, a sedentary lifestyle, a lack of time for community and social activities, as well as other poor lifestyle choices are a few of the major health concerns that contribute to the rise in chronic illnesses. The need for on-demand wellness services is increasing as a result of these difficulties.
Free Valuable Insights: Global On-demand Wellness Software Market size to reach USD 647.4 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Urban Massage Ltd., Urbanclap Technologies India Pvt. Ltd., Booksy, Inc., Soothe, Inc., ASCN, Inc. (STYLEBEE), Priv, Inc., Jmb Glamsquad, LLC, Zeel Networks, Inc., MINDBODY, Inc., Vagaro, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Small & Medium Enterprises
- Large Enterprises
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Urban Massage Ltd.
- Urbanclap Technologies India Pvt. Ltd.
- Booksy, Inc.
- Soothe, Inc.
- ASCN, Inc. (STYLEBEE)
- Priv, Inc.
- Jmb Glamsquad, LLC
- Zeel Networks, Inc.
- MINDBODY, Inc.
- Vagaro, Inc.
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