Global Personal Development Market

Global Personal Development Market Size, Share, Growth Analysis, By Instrument(Books, e-Platforms), By Focus Area(Mental Health, Motivation & Inspiration) - Industry Forecast 2024-2031

Report ID: SQMIG50B2022 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 68 | Figures: 75

Global 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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FAQs

Personal Development Market size was valued at USD 41.81 billion in 2019 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).

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. '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'

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.

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.

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.

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