The most recent study conducted by Report Ocean, titled “Global Workplace Stress Management Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Workplace Stress Management. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Workplace Stress Management Market is valued approximately USD 7.00 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.5 % over the forecast period 2021-2027. Workplace Stress Management is a technique in which on does meditation, deep breathing exercises. It helps employees to relax and work in a light environment. The increasing in number of employees who are suffering from work related stress is driving the growth for the market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For instance: as per HSE, in 2020, 822,000 workers are suffering from work related stress, depression or anxiety. And according to The American Institute of Stress, around 83% of working population in US is suffering for work related stress. Also, with the increasing workers productivity, the adoption & demand for Workplace Stress Management is likely to increase the market growth during the forecast period. However, lack of skilled counselors and awareness towards workplace stress management impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Workplace Stress Management market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of service provider in large sized private and public organization in the region.
And increase in demand for workplace wellness is impacting positively for the market in North America region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising in number of working individuals in the region is driving the growth for the workplace stress management in the region. Furthermore, rise in medical expenditure in emerging economies is also positively impacting the market for the forecasted period 2021 to 2027.
Major market player included in this report are:
Fitbit
ActiveHealth Management
ComPsych
Marino Wellness
Truworth Wellness
Wellness Corporate Solutions (WCS)
Wellsource, Inc.
CuraLinc Healthcare
Central Corporate Wellness;
Sol Wellness
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Outlook:
Stress Assessment
Yoga & Meditation
Resilience Training
Progress Tracking Metrics
Others
By Delivery Mode Outlook:
Individual Counsellors
Personal Fitness Trainers
Meditation Specialists
Others
By End Use Outlook:
Small Scale Organizations
Medium Scale Organizations
Large Scale Organizations
By Activity Outlook:
Indoor
Outdoor
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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