Global Workspace Stress Management Market, By Service (Stress Assessment, Yoga and Meditation, Resilience Training, Progress Tracking Metrics, Others), Delivery Mode (Individual Counsellors, Personal Fitness Trainers, Meditation Specialists, Others), Activity (Indoor, Outdoor), End User (Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations) – Industry Trends and Forecast to 2029.
Market Analysis and Size
In this fast pacing world, everyone has to be on their toes all the time. With the rising cut throat competition around people, it is natural to develop stress and tension on the minds. Workplaces, therefore, play a crucial role in handling and managing such stress and channelizing the employees’ performance in the right direction. Industries have understood the importance of looking after their personnel‘s mental health and as a result, have introduced numerous activities at workplace itself which help in the process of stress management.
- Data Bridge Market Research analyses that the workspace stress management market is expected to undergo a CAGR of 9.20% during the forecast period. “Stress Assessment” accounts for the largest service segment in the workspace stress management market owing to the increasing adoption of and conduction of stress management programs to improve the overall employee performance.
Market Definition
Workplace stress management is a practice followed and adopted to manage the stress in individuals or employee. This involves in adopting varying approaches such as playing games, doing creative arts, organizing events and much more. Workplace stress management helps in improving the employee efficiency, productivity, and physical and emotional wellbeing.
Workspace Stress Management Market Dynamics
Drivers
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Economic slowdown
The global economic slowdown has resulted in limiting the job opportunities especially in the highly populated regions. Further, there is a rise in the number of layoffs. This has resulted in creating a situation of panic and high stress among people. As a result, there is a wide scope of growth for the adoption of workspace stress management solutions and services.
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Rising prevalence of disorders
According to the numerous reports published and available on the internet, there is a rise in the incidence rate of metal disorders, such as depression, anxiety and chronic fatigue among the people. Growing awareness in regards to maintaining the employee wellbeing would therefore, foster growth in the workspace stress management market value.
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Research and development
The increase in the funding by the federal government is set to increase the number of research and development proficiencies being undertaken on daily basis. The researchers are increasingly investing their resources towards understanding the psychological challenges experienced by the employees and identifying the reasons responsible for triggering stress. This will therefore, lead to the growth of workspace stress management market.
Additionally, rising population of women at workplaces and increasing number of industries on daily basis, positively affect the workspace stress management market.
Opportunities
Furthermore, widespread adoption of digital and online self-assessment tests will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising awareness about the importance of mental health and increasing implementation of favourable government policies to promote occupational safety and health will further expand the workspace stress management market's growth rate in the future.
Restraints/Challenges
On the other hand, shortage of skilled counsellors, limited awareness towards workplace stress management especially in the underdeveloped economies, and high expenditure required for research and developmental activities are expected to obstruct market growth. Also, dearth of awareness and required infrastructural facilities in the underdeveloped and backward regions is projected to challenge the workspace stress management market in the forecast period of 2022-2029.
This workspace stress management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the workspace stress management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Workspace Stress Management Market
The workspace stress management market has witnessed a downfall in this phase as a result of increasing number of company downsizings and limiting of job roles at workplaces. Several lockdown restrictions have led to the increased number of employee layoffs, thereby resulting in cost cutting for the company. The pandemic did nothing but worsened the largely unaddressed mental health problem at workplaces. In this phase, the companies focussed more towards achieving then organizational goals than meeting the employee goals. As a result, the workspace stress management market took a hit.
Recent Development
- Since February 2020, Federal Crisis hotline, operated by the substance Abuse and Mental Health Services Administration, witnessed an upsurge of over 300% in calls. Federal Crisis hotline is a disaster distress helpline for people in U.S.
Global Workspace Stress Management Market Scope
The workspace stress management market is segmented on the basis of service, delivery mode, activity and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Service
- Stress Assessment
- Yoga and Meditation
- Resilience Training
- Progress Tracking Metrics
- Others
Based on service, the workspace stress management market consists of stress assessment, yoga and meditation, resilience training, progress tracking metrics and others.
Delivery Mode
- Individual Counsellors
- Personal Fitness Trainers
- Meditation Specialists
- Others
Workspace stress management market has been segmented based on delivery mode into individual counsellors, personal fitness trainers, meditation specialists and others.
Activity
- Indoor
- outdoor
On the basis of activity, the workspace stress management market has been segmented into indoor and outdoor.
End User
- Small Scale Organizations
- Medium Scale Organizations
- Large Scale Organizations
On the basis of end user, the workspace stress management market has also been categorized into small scale organizations, medium scale organizations, and large scale organizations.
Workspace Stress Management Market Regional Analysis/Insights
The workspace stress management market is analysed and market size insights and trends are provided by country, service, delivery mode, activity and end user as referenced above.
The countries covered in the workspace stress management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the workspace stress management market because of the presence of a number of service providers in this region coupled with increase in demand for workplace wellness.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in the awareness in regards to maintaining mental health and increasing cases of mental disorders.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The workspace stress management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for workspace stress management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the workspace stress management market. The data is available for historic period 2010-2020.
Competitive Landscape and Workspace Stress Management Market Share Analysis
The workspace stress management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to workspace stress management market.
Some of the major players operating in the workspace stress management market are Canopy Inc., BHS International Ltd, Whil, Workplace Options, Animo B.V., LifeDojo, Total Brain, Mindario, 2Morrow Inc., Happify Health, Headspace Inc., Magellan Health, Inc., SilverCloud., ComPsych Corporation, CuraLinc Healthcare, eMindful Inc., ACAP HealthWorks, LifeWorks Inc., Optum, Inc., Levelhead, Lyra Health, Inc., Journey, Life-XT, LLC and SuperBetter, LLC., among others.
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