On-demand Wellness Software Market is expected to surpass USD 952.42 Mn by 2032

The current value of the on-demand wellness software market stands at USD 424.03 Million. It is projected to grow to USD 949.93 Million by 2032, with an anticipated Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period. The wellness industry is experiencing rapid expansion due to the increasing demand for at-home wellness and beauty services, coupled with the influence of social media.

With advancements in digital technology, wellness companies can now provide online consultations to their customers. Many wellness businesses responded to the crisis by offering discounted access to their services, thereby bolstering adoption trends in the on-demand wellness software market.

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Key Takeaways:

• Web-based software, offering various security levels along with regular updates and backups, holds the largest revenue share in the on-demand wellness software market, exceeding 50.0%.
• The small and mid-sized enterprise segment accounts for over 60.0% of the revenue share, empowering SMEs to make faster business decisions, operate more efficiently, and stay competitive.
• North America leads with a revenue share of 45.0%, driven by technological advancements and increasing demand for online services.
• The Asia Pacific on-demand wellness software market is poised for the fastest growth at 10.0% over the forecast period, attributed to the surge in digital platform adoption and rising awareness of personal well-being.

Segmentation of On-demand Wellness Software Industry Research:

• By Type: Cloud-based, Web-based
• By Application: Large Enterprises, Small & Medium Enterprises
• By Region: North America, Latin America, Asia Pacific, MEA, Europe

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Key Companies Profiled:

• Booksy
• Soothe Inc.
• Urbanclap Technologies India Pvt. Ltd.
• STYLEBEE (ASCN, Inc.)
• Priv; Glamsquad
• Zeel Networks, Inc.
• Urban Massage Ltd.

Competitive Landscape:

Key players in the on-demand wellness software market are enhancing their service offerings through service upgrades, significant collaborations, and securing government permissions to expand their customer base and market share. These players focus on expanding their portfolios by upgrading services and implementing strategies such as mergers and acquisitions, partnerships, new service launches, and joint ventures.

Recent Developments:

• Acquisition: Glamsquad acquired Veluxe, a personalized wellness and beauty service, in July 2018, expanding its presence in Washington, D.C.
• Partnership: Urban Company introduced an industry-first Partner Shareholding Plan (PSOP) for its service providers in March 2022, offering stocks worth USD 18.7 Mn (INR 150 crore) over the coming years.

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Regional Analysis

North America holds the dominant position in the on-demand wellness software market in terms of revenue share. This is attributed to advancements in technology and an increasing inclination towards online wellness services. Factors such as stress, sedentary lifestyles, limited time for community and social activities, and unhealthy lifestyle choices contribute to the rise in chronic illnesses. Consequently, there is a growing demand for on-demand wellness services to address these health challenges and promote overall well-being in the region.

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