Press release
Major Market Shift in Personal Development Industry: Innovative Technological Solutions Transforming the Personal Development Landscape
Personal Development Market Trends
The personal development market has grown strongly in recent years. It will expand from $51.06 billion in 2024 to $54.09 billion in 2025, at a CAGR of 5.9%. The growth is driven by the boom in self-help literature, increasing awareness of mental health issues, globalization, evolving workplace needs, and the rise of the information age and technology.
The personal development market is forecast to grow to $68.42 billion by 2029 at a CAGR of 6.1%. The growth is attributed to the integration of mental health and well-being, the rise of remote and virtual platforms, and the incorporation of virtual reality (VR) and augmented reality (AR). Key trends include digital and remote learning, a focus on mental health and well-being, hybrid learning models, and the integration of technology in development programs.
What Factors Are Propelling the Expansion of the Personal Development Market?
The growing concerns around stress and mental health are driving the expansion of the personal development market. Stress and mental health issues stem from psychological, emotional, and physiological challenges that disrupt individuals' well-being. Personal development programs offer practical tools and strategies to help individuals manage stress, improve mental resilience, and enhance overall well-being. For example, in November 2022, a survey by the National Health Service (NHS), a UK-based public healthcare organization, found that 18% of children aged 7 to 16 and 22% of young adults aged 17 to 24 were diagnosed with potential mental disorders. Among 17- to 19-year-olds, the prevalence increased from 17.4% in 2021 to 25.7% in 2022. Thus, growing mental health concerns are contributing to the expansion of the personal development market.
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Which Businesses Are at the Forefront of Personal Development Market Development?
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
What Are the Latest Innovations in the Personal Development Market?
Major companies in the personal development market are investing in advanced technological solutions, such as skill benchmark assessment software, to bridge skill gaps and provide customized learning pathways. This software evaluates proficiency using a criterion-based approach, assisting organizations in assessing learners' competency in key leadership, business, and technical areas. For example, in March 2022, Skillsoft Corporation, a US-based SaaS company, introduced a Skill Benchmark Assessment feature within its Percipio immersive learning platform. This tool measures learners' skills against set benchmarks and aids organizations in evaluating competencies across domains such as technology, security, digital literacy, agile methodologies, digital marketing, and problem-solving.
How Is the Personal Development Market Segmented?
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
Subsegments:
1) By E-Platform: Online Courses, Mobile Apps, Webinars
2) By Workshops And Seminars: Group Workshops, Corporate Training, Public Seminars
3) By Books: Self-Help Books, Motivational Books, Educational Books
4) By Personal Training And Coaching: Life Coaching, Executive Coaching, Career Coaching
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Where Is the Personal Development Market Growth Most Prominent?
North America was the largest region in the personal development market in 2024. The regions covered in the personal development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Personal Development Global Market Report?
- Market Size Analysis: Analyze the Personal Development Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Personal Development Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Personal Development Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Personal Development Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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