Personal Development Global Market Size, Share Report, Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2033

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Personal Development Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The personal development market size has grown strongly in recent years. It will grow from $48.11 billion in 2023 to $51.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to self-help literature boom, growing awareness of mental health issues, globalization and changing workplace needs, rise of the information age and technology.

The personal development market size is expected to see strong growth in the next few years. It will grow to $64.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to integration of mental health and well-being, remote and virtual platforms, virtual reality (VR) and augmented reality (AR) integration. Major trends in the forecast period include remote and digital learning, focus on mental health and well-being, hybrid learning models, integration of technology, employer-sponsored development programs.

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Key Market Players:

Major companies operating in the personal development market report are Allison Transmission Holdings, Slalom Consulting, WW International Inc, Toastmasters International, Dale Carnegie And Associates Inc., Udemy Inc., Skillsoft Corporation, Coursera Inc., Mindvalley, Headspace, Franklin Covey Co., Skillshare, Hay House Inc., Nutrisystem Inc., Landmark Worldwide Enterprises Inc., GoodHabitz, Gaia Inc., OpenSesame Inc., The Chopra Center, SkillPath, Lifehack, Tony Robbins Holdings, FutureLearn Limited, Cloverleaf, edX LLC

Market Drivers:

The rising stress and mental health concerns are driving the growth of the personal development market. Stress and mental health concerns refer to the emotional, psychological, and physiological challenges individuals face when dealing with pressures, difficulties, or disruptions in their lives. Personal development can be used to address stress and mental health concerns by providing individuals with the skills and tools to take an active role in their well-being and by offering practical tools and techniques to manage stress and foster mental health to achieve better mental health outcomes. For instance, in December 2022, the American Psychiatric Association, a US-based professional organization of psychiatrists, reported that more than one in four (26%) said they expected to have higher stress at the start of 2023, up from one in five (20%) last year. Furthermore, in March 2023, according to the National Alliance on Mental Illness, a US-based non-profit organization, 22.8% (57.8 million people) of US adults experienced mental illness in 2021, which increased from previous years. Therefore, rising stress and mental health concerns are expected to propel the growth of the personal development market.

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The personal development market covered in this report is segmented -
1) By Instruments: E-Platform, Workshops And Seminars, Books, Personal Training And Coaching
2) By Focus Area: Mental Health, Motivation And Inspiration, Physical Health, Self-Awareness, Skillset Enhancement
3) By Skillset Enhancement Sub Type: Communication, Teamwork, Decision Making, Analytical And Problem Solving, Empowerment

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