On-demand Wellness Software Market Size, Share | Report 2022-2030

The global on-demand wellness software market was surpassed at USD 392.3 million in 2021 and is expected to hit around USD 808.98 million by 2030, growing at a CAGR of 8.37% from 2022 to 2030.

Report Highlights

The web-based segment accounted for the largest revenue share of over 50.06% in 2021.
The cloud-based segment is expected to register a CAGR of 9.92% during the forecast period.
The small and medium enterprises segment dominated the market with a revenue share of over 60.11% in 2021 and is also expected to grow at the fastest rate during the forecast period.
North America dominated the market and accounted for a revenue share of over 45.05% in 2021.
The Asia Pacific is expected is likely to register the fastest CAGR of 10.32% from 2022 to 2030.

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The wellness sector is growing rapidly due to the increased demand for at-home wellness and beauty services and the influence of social media. The vendors are shifting to the digital platform and offering customized services to their customers to maintain a competitive edge in the market.

The on-demand applications became crucial during the COVID-19 pandemic and this sector witnessed a considerable change during this time. The adoption of digital technology allowed wellness companies to provide online consultations to their customers. Many wellness businesses offered free or discounted access to their services in response to the crisis. The pandemic has increased the awareness and understanding of personal wellness and raised the importance of self-care and mental health.

The key companies in the market are attempting to enhance their service offerings by upgrading their services, utilizing significant cooperative efforts, and availing government permissions in order to expand their client base and capture a larger share in the market. In July 2018, Glamsquad announced the acquisition of Veluxe, the DC-based personalized wellness and beauty service founded in 2015. This acquisition has increased the company's outreach in Washington D.C. In March 2022, Urban Company announced an industry-first Partner Shareholding Plan (PSOP) for its service provider. The company’s service partners are expected to receive stocks worth USD 18.7 million (INR 150 crore) under this strategy over the next few years.

Scope of The Report

Report Coverage	Details
Market Size in 2021	USD 392.3 million
Revenue Forecast by 2030	USD 808.98 million
Growth rate from 2022 to 2030	CAGR of 8.37%
Base Year	2021
Forecast Period	2022 to 2030
Segmentation	Type, application, region
Companies Covered	Booksy; Soothe Inc.; Urbanclap Technologies India Pvt. Ltd.; STYLEBEE (ASCN, Inc.); Priv; Glamsquad; Zeel Networks, Inc.; Urban Massage Ltd.

Growth Drivers

The global on-demand wellness software industry is likely to be driven by the demand from the Asia Pacific owing to the increasing adoption of digital platforms and personal well-being in India and China. North America remains at the top with tremendous technological improvement and increasing demand for online services.

Furthermore, as these platforms provide discounts, coupons, or free trials to the consumers, they contribute to the increasing growth of the industry.

Type Insights

The web-based segment accounted for the largest revenue share of over 50.06% in 2021. Web-based software is a set of applications that use centralized data, are often run on secure servers outside of local networks or specific locations, and are easily accessible through the Internet. Web-based software is commonly preferred among large-enterprise systems owing to the reduced deployment burden on individual customers.

The cloud-based segment is expected to register a CAGR of 9.92% during the forecast period. Cloud-based apps include advanced features, such as access to a broader range of programs, including application storage, development tools, and on-demand computing cycles. Cloud applications can operate fully or partially offline, which benefits platforms with slow internet connections.

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Application Insights

The small and medium enterprises segment dominated the market with a revenue share of over 60.11% in 2021 and is also expected to grow at the fastest rate during the forecast period. On-demand software platforms allow SMEs to take critical business decisions quickly, operate more effectively, and maintain a competitive edge. In addition, small businesses have better access to financing, can borrow funds from the financial market rather than relying primarily on bank loans, and are critical to the economic system.

Small and medium-sized enterprises provide a substantial contribution to healthy economic growth and the development of the market globally. SMEs offer more flexibility than larger enterprises and have the capacity to differentiate and customize their products and respond rapidly to changing market conditions. However, SMEs are often disproportionately affected by trade obstacles as they are usually owned privately by a single person or a small group of people and have fewer employees.

Regional Insights

North America dominated the market and accounted for a revenue share of over 45.05% in 2021 owing to technological advancements and increasing demand for online wellness services. Significant health concerns such as stress, a sedentary lifestyle, insufficient time for social and community activities, and other poor lifestyle choices are some of the critical risk factors responsible for rising chronic illnesses. These challenges are propelling the demand for on-demand wellness services.

The Asia Pacific is expected is likely to register the fastest CAGR of 10.32% from 2022 to 2030. In this region, Japan, China, and India are major contributors in terms of technological developments. The Asia Pacific has the maximum number of spas and wellness centers as wellness tourism is growing at a significant rate. Rapidly evolving economies, growing awareness about wellness, growth in wellness tourism, and increased adoption of digital booking platforms are the key factors boosting the market growth in this region.

Key Players