PUBLISHER: The Business Research Company | PRODUCT CODE: 1414692
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414692
“Workplace Stress Management Market Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on workplace stress management Market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for workplace stress management market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The workplace stress management Market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The management of workplace stress is crucial for reducing its negative impact on the mental and physical health of employees. Stress can be effectively addressed through strategies that encompass mental, emotional, and behavioral aspects. Implementing workplace stress management not only fosters happier and more positive employees but also contributes to maintaining a robust and healthy workplace culture conducive to creativity and productivity.
Key service types in workplace stress management encompass stress assessment, yoga and meditation, resilience training, progress tracking metrics, and other related services. Stress assessment serves as a crucial tool, analogous to an exercise stress test, revealing how the heart functions during physical activity. This assessment is vital in understanding the impact of stressors on employees, enabling corrections to prevent physical, emotional, or mental distress. Delivery modes for workplace stress management include individual counselors, personal fitness trainers, meditation specialists, and various other modes. The activities involved in workplace stress management span both indoor and outdoor settings. End users of workplace stress management services include large private organizations, mid-sized private organizations, small private organizations, non-governmental organizations (NGOs), and the public sector.
The workplace stress management market research report is one of a series of new reports from The Business Research Company that provides workplace stress management market statistics, including workplace stress management industry global market size, regional shares, competitors with a workplace stress management market share, detailed workplace stress management market segments, market trends and opportunities, and any further data you may need to thrive in the workplace stress management industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The workplace stress management market size has grown rapidly in recent years. It will grow from $9.55 billion in 2023 to $10.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The expansion observed in the historical period can be ascribed to initiatives promoting employee well-being, increased awareness of mental health, a focus on work-life balance, adherence to occupational health and safety regulations, and concerns related to employee productivity.
The workplace stress management market size is expected to see rapid growth in the next few years. It will grow to $15.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The anticipated expansion in the forecast period can be credited to challenges associated with remote work, the formulation of corporate mental health policies, a heightened emphasis on mental health advocacy, the introduction of tailored stress reduction programs, and prevailing global economic conditions. Major trends expected in the forecast period encompass the adoption of flexible work arrangements, the introduction of workshops and training for stress reduction, the incorporation of employee assistance programs, a focus on fostering a positive workplace culture, and the acknowledgment of burnout as a significant concern.
The surge in the popularity of yoga is anticipated to drive the growth of the workplace stress management market in the future. Yoga, primarily a spiritual practice, focuses on achieving harmony between the body and mind, relying on a delicate science. Its emphasis on mental and physical relaxation contributes to stress and anxiety reduction. The physical postures involved in yoga enhance flexibility, relieve tension, and alleviate pain. The integration of yoga into professional workplaces is fostering demand for workplace stress management services. Notably, around 300 million people globally practice yoga, as reported by Yoga Basics, a US-based online resource for yoga. Consequently, the growing popularity of yoga is expected to propel the expansion of the workplace stress management market.
The increasing number of working individuals in developed countries is poised to drive the growth of the workplace stress management market. Working individuals are those actively engaged in employment or labor for livelihood. With the workforce expanding, the prevalence of workplace stress may rise, prompting organizations to invest in stress management programs and solutions. For example, as of January 2023, the Bureau of Labor Statistics, a US-based government agency, reported that foreign-born workers accounted for 18.1% of the US civilian labor force, up from 17.4% in 2021. This growing population of working individuals in developed countries is a significant factor propelling the growth of the workplace stress management market.
Technological advancements emerge as a key trend where organizations are increasingly adopting advanced solutions to assist employees in relaxing their minds and effectively managing stress. A notable example is Talkspace, a US-based digital behavioral technology healthcare company, which introduced Talkspace Self-Guided in April 2022. This suite of offerings for employers is designed to help managers, executives, and teams prioritize mental wellness and emotional intelligence both within and outside the workplace. The single smartphone app, built on attachment therapy principles, provides employees with tried-and-true mental health training accessible anonymously at any time.
Major companies in the workplace stress management market are strategically focusing on the introduction of employee engagement platforms, such as the ASHA platform, to enhance their competitiveness. The ASHA platform serves as a comprehensive employee engagement and wellness solution, aiming to elevate workplace satisfaction and productivity through personalized programs and insights. For instance, in June 2021, HappyPlus Consulting, an India-based company, launched the ASHA platform, a free tool designed to manage workplace stress for medical professionals. The platform listens to employees' concerns and recommends solutions to alleviate workplace stress, providing tech-enabled happiness solutions and supporting overall employee well-being. Offering tools for stress management and mental health support, the platform contributes to enhanced employee engagement.
In January 2021, Google LLC, a US-based technology company, acquired Fitbit for $2.1 billion, indicating a strategic move to improve access to affordable care through an integrated technology network. Fitbit, a US-based consumer electronics and fitness company, became part of Google's portfolio with the aim of furthering advancements in healthcare technology.
Major companies operating in the workplace stress management market market report are CVS Health Payor Solutions, Fitbit Inc., Asset Health Inc., ComPsych Corporation, CuraLinc Healthcare LLC, Marino Wellness LLC, Wellness Corporate Solutions LLC, Wellsource Inc., Sol Wellness LLC, Central Corporate Wellness Pte. Ltd., Truworth Health Technologies Private Limited, ACAP HealthWorks, Animo B.V., BHS International Ltd., Canopy Inc., eMindful Inc., Happify Health, Headspace Inc., LifeDojo Inc., Magellan Health Inc., Mindario Inc., SilverCloud Health Limited, Total Brain Limited, Whil Concepts Inc., Workplace Options LLC, 2Morrow Inc., Audink Inc., BetterUp Inc., Castlight Health Inc., The Cigna Group
North America was the largest region in the workplace stress management share market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the workplace stress management market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the workplace stress management market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The workplace stress management market includes revenues earned by entities by meditation, games and fun activities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.