The global personal development market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period. Personal development is the activities that improve the identity of an individual, develop talents and potential, build human capital, enhance the quality of life and contribute to the realization of dreams and aspirations in an individual. The growing need among employees to develop professional skills is driving the growth of the personal development market across the globe. Many companies are supporting employee development plans and creating learning opportunities for the employees. For instance, in March 2022, Apple launched a $50 million Supplier Employee Development Fund to support expanded initiatives for people across its supply chain. Apple has partnered with the International Labor Organization, the International Organization for Migration, and education experts around the world. Additionally, in September 2021, The Life Insurance Corporation (LIC) launched a new mobile app ‘Pragati’ (Performance Review Application, Growth And Trend Indicator) for its development officers. But the lack of time in an employee's busy work life for personal development programs is restraining the market growth during the forecast period. 

Impact of COVID-19 Pandemic on Global Personal Development Market

During COVID-19 there was a complete shutdown all over the world due to which all the offices started working from home due to which employees got more time in their personal life. Many people utilized that time to enhance their skills and develop new hobbies which led to the growth of the personal development market across the globe during COVID-19. 

Segmental Outlook 

The global Personal Development market is segmented based on instrument, and focus area. Based on the instrument, the market is segmented into books, e-platforms, and personal coaching/training. Based on the focus area, the market is segmented into mental health, motivation & inspiration, and physical health. Among the instrument segment, e-platforms are expected to hold a prominent share in the global personal development market during the forecast period. Furthermore, the personal coaching/training sub-segment is expected to be the fastest-growing in the global personal development market during the forecast period. 

Global Personal Development Market Share by Instrument, 2021 (%)

The E-Platforms are Expected to Hold a Prominent Share in the Global Personal Development Market

The e-platforms are expected to hold a prominent share in the growth of the global personal development market during the forecast period due to the rising popularity of online platforms for skills development. The growing preference of individuals for mobile application e-platforms for enhancing professional capabilities and ensuring sound career opportunities is driving the market growth. For instance, in august 2021, Duolingo added five endangered language courses. The five languages include Zulu, Xhosa, Maori, Haitian Creole, and Austronesian Tagalog, as part of its work to help protect endangered languages. 

Regional Outlooks

The global personal development market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, Asia-Pacific region is expected to hold a prominent share in the growth of the global personal development market during the forecast period followed by North American region.

Global Personal Development Market Growth, by Region 2022-2028

The Asia-Pacific Region is Expected to Hold a Prominent Share in the Global Personal Development Market

The Asia-Pacific region is expected to hold a prominent share in the growth of the personal development market across the globe during the forecast period due to the rising government support for the new programs to enhance the skills of children. For instance, in May 2020, The Delhi government launched online ‘English and Personality Development’ program daily for class 10 and 12 students. The program is being launched in association with the British Council and Mac- Millian Education. According to officials, about 2,70,000 students (class 10 and 12 combined) got the link and were able to join the course.

Market Players Outlook

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 March 2022, Guidely launched "Guidely Community", a new membership community and smartphone app, making personal growth, mental health and coaching services more accessible to people worldwide.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global personal development market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the marke