Personal Development Market
Report ID: SQMIG50B2022
Personal Development Market Size, Share, Growth Analysis, By Instrument(Books, e-Platforms, Personal Coaching/Training, Workshop & Seminars), By Focus Area(Mental Health, Motivation & Inspiration, Physical Health, Self-Awareness), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG50B2022 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
68
|Figures:
75
Personal Development Market Insights
Personal Development Market size was valued at USD 41.81 billion in 2022 and is poised to grow from USD 44.11 billion in 2023 to USD 71.42 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
Personal development activities include those that increase self-awareness and identity, foster talent, and potential, create a more employable workforce, improve quality of life, and help ambitions and dreams come true. It takes a lifetime to develop personally. It's a crucial technique for encouraging you to pause, reflect on your goals in life, evaluate your talents and attributes, and set objectives in order to realize and maximize your potential.
In addition to official and informal activities for developing others in a variety of positions, such as instructors, guides, counselors, managers, life coaches, and mentors, the concept is not just confined to self-help. When personal development occurs in a setting of institutions, it refers to the procedures, plans, activities, equipment, strategies, and evaluation procedures that promote human growth on an individual basis.
US Personal Development Market is poised to grow at a sustainable CAGR for the next forecast year.
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Personal Development Market Segmental Analysis
Global personal development market is segmented based on the instruments, focus area, and region. Based on the instruments, the global personal development market is segmented as Books, e-platforms, personal coaching/training, others. Based on focus area, the global personal development market is segmented as mental health, motivation & inspiration, physical health, self-awareness, skillset enhancement, others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Personal Development Market Analysis by Instruments
In terms of instruments, the personal training/coaching segment led the global personal development market in terms of revenue in 2019. This can be due to the two-way communication that personal coaching provides being effective. Over the next ten years, the books segment is expected to have significant revenue growth. In 2019 and the years to come, the e-platform segment is anticipated to post significant revenue growth.
Personal Development Market Analysis by Focus Area
Global personal development market has been segmented on the basis of focus area, mental health, motivation & inspiration, physical health, self-awareness, skillset enhancement, and others. With a market share of over 32% in 2021, the skillset enhancement segment is expected to continue to dominate the market during the forecast period. To improve their sales and customer service on a variety of fronts, including presentation, communication, technology, and productivity, corporations are choosing to invest in self-improvement programs. Due to the continuous development of exercise facilities and mobile apps as well as the rising awareness of physical wellbeing among people, the physical health category also accounted for a sizable revenue share in 2021. The segment's expansion can be attributed to people's increasing attention to self-awareness programs to improve their capacity for decision-making and lead a better life. Self-awareness programs are adopted by businesses to improve employees' engagement, productivity, and communication abilities.
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Personal Development Market Regional Insights
North America held the largest share of the global personal development market. In North America, there has been strong uptake of digitally upgraded platforms for self-improvement activities. It is anticipated that early adoption of audiobooks, e-books, and other technologically advanced learning platforms will increase demand for personal development courses in the region. Due to an increase in the number of people participating in various self-improvement programmes that focus on improving communication skills, South America, the Middle East, and Africa are predicted to experience significant growth between 2020 and 2027. The early uptake and rising interest in e-books and audiobooks are also encouraging signs for the expansion of the local industry.
In addition, the Asia-Pacific region is anticipated to contribute significantly to the expansion of the personal development market globally over the course of the forecast period as a result of growing government backing for innovative initiatives to improve kids' skills. For instance, the Delhi government introduced a daily online "English and Personality Development" programme in May 2020 for children in classes 10 and 12. The British Council and MacMillian Education are partners in the program's introduction. Approximately 2,70,000 students, according to officials (class 10 and 12 combined) were able to access the link and enroll in the course.
According to projections, the European Personal Development Market will grow at a large rate, primarily as a result of people's increased attention to maintaining their mental health. People from the general public are taking part in personal development initiatives that primarily focus on psychological and spiritual growth in Europe. Additionally, the rise of this market in the European region is expected to benefit from an increase in physical exercise programmes.
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Personal Development Market Dynamics
Personal Development Market Driver
- One of the major factors anticipated to propel market expansion throughout the forecast period is the increased emphasis on learning new skills, such as social and decision-making skills, for self-improvement, personal development, and obtaining self-recognition. Additionally, individuals frequently try to align their domain expertise with the standards established by their employers, which is positive for market expansion.
- There are plenty of prospects for advancement as technology-driven platforms for personal development gain prominence. The expansion of market participants will be complicated by the rising use of open-source solutions. Market vendors should preserve their positions in the slow-growing segments while concentrating more on the growth prospects in the fast-growing segments to take advantage of the opportunities.
Personal Development Market Restraint
- Despite people's high interest and curiosity in self-improvement, there is a looming lack of understanding regarding the availability of a wide range of personal development programs, which is also anticipated to restrain market expansion over the forecast period.
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Personal Development Market Competitive Landscape
Global personal development market is relatively fragmented, with a high level of competition. Major market players are spending in R&D to include cutting-edge technologies and create training programmes with unique features. Customization enables businesses to draw in more clients. Leading players also emphasize increasing their geographic reach.
Top Players in the Global Personal Development Market
- Franklin Covey Co.
- Dale Carnegie & Associates, Inc.
- Tony Robbins Research International, Inc.
- Landmark Worldwide
- SkillPath Seminars
- Success Resources Global Ltd.
- Mindvalley LLC
- Brian Tracy International
- The Chopra Center for Wellbeing
- Hay House, Inc.
- Ziglar, Inc.
- The John Maxwell Company
- Robin Sharma Inc.
- Nightingale-Conant Corporation
- Jay Shetty International, Inc.
- The Arbinger Institute
- Simpleology Inc.
- The Personal Development Company
- The Art of Living Foundation
- The Human Potential Institute
Personal Development Market Recent Developments
- In July 2022, SkillPath Hosts Free Training for Employers to Navigate Skills Gaps
- Multipliers: How the Best Leaders Ignite Everyone's Intelligence, the latest premier product from Franklin Covey Co., a global company specialized in organizational performance improvement, was released in August 2020. It is appropriate for leaders at all levels in any organization and industry.
Personal Development Key Market Trends
- The adoption of social media has greatly increased interest in personality development programs. Many people, especially millennials, are being encouraged to enroll in personality development courses by targeted marketing on social media platforms like Instagram, Facebook, LinkedIn, and others. Numerous industry participants in the personality development sector provide hybrid coaching alternatives that can be both online and offline. The variety of solutions available in the personality development market as well as its rising popularity among millennials may prove to be key drivers of future growth.
- The adoption of cutting-edge technologies in the personality development industry might significantly improve the market's growth prospects. Earlier, technology was widely used in the industry, but because of the COVID-19 pandemic, sessions had to be moved fully online. The market for personality development adopted technology as a result of this factor. Additionally, the COVID-19 pandemic contributed to stress and depression in a large number of people as a result of extended home stays and deteriorating financial circumstances. Many people chose to take personality development classes as a way to deal with the stress. The popularity of quick personality development courses increased throughout the pandemic and will continue to increase in the future.
Personal Development Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global personal development market analysis, in terms of Instrument, the personal coaching/training segment accounted for the largest share of over 38% in 2021 and is expected to continue dominating the market over the forecast period. Personal training increases the level of interaction between trainers and individuals, which makes it a preferred coaching choice. The e-platforms segment is anticipated to witness substantial growth from 2022 to 2028, which can be attributed to the growing preference for mobile application-based e-platforms for personal development courses due to the convenience associated with them in terms of time and location
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 41.81 billion |
| Market size value in 2031 | USD 71.42 billion |
| Growth Rate | 5.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Personal Development Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Personal Development Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Personal Development Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Personal Development Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Personal Development Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Personal Development Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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