Workplace Stress Management Market Share, Size, Trends, Industry Analysis Report, By Service (Stress Assessment, Yoga & Meditation, Resilience Training, Progress Tracking Metrics, Others); By Activity (Indoor, Outdoor); By Delivery Mode; By End-Use; By Regions; Segment Forecast, 2021 - 2028
- Published Date:May-2021
- Pages: 113
- Format: PDF
- Report ID: PM1883
- Base Year: 2020
- Historical Data: 2016-2019
Report Outlook
The global workplace stress management market was valued at USD 8.00 billion in 2020 and is expected to grow at a CAGR of 8.5% during the forecast period. With an increase in competition, employees at the workplace face lot of work pressure under a strict timeline. Stress poses an adverse event and disturbs the equilibrium of work-life balance for the employees. Awareness regarding stress management among employees and concerned stress management programs play an important role in uptake workplace stress management services.
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Employers all over the world, are responsible for implementing practical steps for risk reduction in offices. Risk assessment at the workplace streamlines existing control measures from preventing any harm to the employee's health. A standard approach for tension management limits workplace stress. SMEs across the globe are needed to acknowledge programs and measures undertaken for workplace stress management.
According to the market statistics published by the Health & Safety Executive (HSE), in 2016, more than 40% of workplace illnesses were related to stress and depression. This has resulted in the loss of productivity by around 12 million man-days. Stress causes a reduction in the morale and productivity of employees, impacting lifestyle quality.
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Workplace Stress Management Market Report Scope
The market is primarily segmented on the basis of service, delivery mode, end-use, activity, and region.
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By Delivery Mode |
By End Use |
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Insight by Delivery Mode
The personal fitness trainers market segment in workplace stress management industry accounted for the largest revenue share in 2020. Proactive measures for employee’s well-being could result in positive results in the businesses. Improvements in employee benefits, working styles, toxic work culture, and internal communications can positively impact business profits.
Though, identification of stressed individuals is easier, offering them help in the form of stress management services becomes difficult as employees are not obligated to discuss personal issues at the workplace. Hence, personal trainers could play an important role in stress management among working employees. However, the medication specialists’ market segment is expected to witness a lucrative market growth over the workplace stress management study period.
Insight by Activity
The indoor activity market segment for workplace stress management accounted for the largest revenue share, in 2020. Such a high share is attributed to the emergence of app-based tension management services, and associated data analytics platforms. For instance, Appster is a U.S.-based start-up engaged in providing employee perks, like free meals and rides to the office to minimize office stress. The office has pet husky for employees to be engaged in outdoor activities.
Moreover, the company across the globe are engaged in tension-bursting activities, outside of their workplace. For instance, Google offers employee mindfulness activities known as “Search Inside Yourself” for tension relief. It has also created a virtual community called “gPause” to promote meditation activities at the workplace, with daily assistance from trainers.
Insight by End-Use
Large-scale organizations market segment of workplace stress management accounted for the largest revenue share in 2020. This is primarily due to the rise in mental health screening services over the past few years, and strong legislation around the globe to comply with. It is being published that, around 70% of employers/companies have invested in screening services in the market.
Moreover, large-scale enterprises have financial resources and a workforce to incorporate such pressure management programs. However, the medium-scale enterprises market segment is projected to witness lucrative market growth over the workplace stress management study period.
Geographic Overview
In 2020, North America workplace stress management market garnered the largest revenue share and is expected to maintain its dominance over the assessment period. Regional market factors contributing to the market growth include a rise in employee lay-offs during the COVID-19 pandemic, an increase in workload, and a favorable regulatory regimen in the market for the implementation of workplace stress management programs in market companies.
It is being predicted that around 50% of the employers in the country offer wellness programs. Moreover, employee fatigue due to higher work pressure within stipulated time has gained attention in the region, and the government is poised to take significant measures to tackle the situation appropriately in the market.
Competitive Insight
The prominent players operating in the workplace stress management market are Fitbit; ComPsych; Marino Wellness; ActiveHealth Management, Truworth Wellness; Wellsource, Inc.; CuraLinc Healthcare; Wellness Corporate Solutions (WCS); and Central Corporate Wellness.
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