Personal Development Market: What You Need to Know

The global personal development market is expected to grow at a significant CAGR of 8.2% during the forecast period (2024-2031). The increasing growth of the personal development market in different parts of the world is driving, among other things, the growing need for employees to develop professional skills. Many companies support employee development plans and create learning opportunities for employees. As technology-based platforms emerge for personal development, there are many opportunities for advancement. The expansion of market players is slowed by the growing use of open-source solutions. Market suppliers must maintain their positions in slow-growing segments and focus more on the growth prospects of fast-growing segments to take advantage of opportunities. Despite the great interest and curiosity of people in self-improvement, there is a threat of misunderstanding regarding the availability of various personal development programs, which will also hamper the market expansion during the forecast period.

Browse the full report description of “Global Personal Development Market Size, Share &Trends Analysis Report by Instrument (Books, e-Platforms, and Personal Coaching/Training), By Focus Area (Mental Health, Motivation & Inspiration, and Physical Health) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/personal-development-market

Trends in the Global Personal Development Market

• Global brands are collaborating to develop the space of personal development across the globe. For instance, in September 2022, Deloitte and Junk Kouture, the world’s largest sustainable fashion competition for young people, announced a global collaboration to encourage and empower talented and passionate youth worldwide to join the fight against climate change. Junk Kouture is a unique program that offers young creatives of all backgrounds and experiences access to a year-round free academic program focused on fashion, sustainability, and addressing climate change. Students are challenged to design and create haute couture from waste and recycled materials that can be modeled and showcased on world stages.

• New entrants are launching creative platforms to support global initiatives for personal development goals and initiatives. For instance, in May 2023, MasterClass, the streaming platform where anyone can learn from the world's best, today announced it is expanding its library with new content, topics, and a variety of formats to further meet how people are learning. MasterClass is also expanding access through lower prices, delivering even more on its mission and promise to create a world where anyone can learn from the best to become their best.

• New technological advancements and developments in the space of personal development across the globe are driving market growth. For instance, in February 2024, Mindvalley, the leading personal growth platform, announced the launch of its groundbreaking fully immersive meditation and personal development app on Vision Pro, Apple's revolutionary spatial computing headset.

• Global personal development market players are introducing different community platforms to support the market and to drive the market growth. For instance, in November 2023, Marvin Steinberg, a visionary entrepreneur and seasoned investor, introduced ReachGoals.com to the global community. Described as the "Duo Lingo of goal setting," ReachGoals.com promises to redefine the way individuals set, track, and achieve their aspirations and goals. Unlike any other platform, ReachGoals.com offers a revolutionary approach to personal growth and self-improvement by combining cutting-edge technology with a user-friendly interface. The platform is designed to empower users with the tools and resources they need to turn their dreams into tangible realities.

The major companies serving the global personal development market include Dale Carnegie & Associates, Inc., Graceland College Center for Professional Development and Lifelong Learning, Inc. (SkillPath), Success Resources Australia Pty Ltd., Landmark Worldwide Enterprises, Inc., Wilson Learning Worldwide Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, Skillsoft Corporation and GoodHabitz, an international Ed-tech company, partnered to offer customers and learners an extensive content library that focuses on promoting mental health and well-being in the workplace. In addition, this partnership aims to provide a wide range of skills, including communication, leadership development, and personal productivity. Such strategies by key players are expected to drive the market’s growth over the forecast period.

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