Personal Development Market Size, Share & Trends Report

Personal Development Market Size, Share & Trends Analysis Report By Instrument (Books, e-Platforms), By Focus Area (Mental Health, Physical Health), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-804-6
  • Number of Report Pages: 100
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the personal development market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for personal development market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of personal development market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Personal Development Market Categorization:

The personal development market was categorized into three segments, namely instrument (Books, e-Platforms, Personal Coaching/Training, Workshops & Seminars), focus area (Mental Health, Motivation & Inspiration, Physical Health, Self-Awareness, Skillset Enhancement), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).

Segment Market Methodology:

The personal development market was segmented into instrument, focus area, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The personal development market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; Italy; Spain; France; China; Japan; India; South Korea; Brazil; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Personal development market companies & financials:

The personal development market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Dale Carnegie & Associates, Inc., - The headquarters of Dale Carnegie & Associates, Inc. are in Washington, U.S.A. The company was established in 1912. The business is in the business of offering professional training programs. In the 1950s, the corporation increased its commercial footprint in Europe, South America, Australia, and Asia. The business was incorporated as Dale Carnegie & Associates Inc. in 1954. Since 1992, the organization has provided corporate training solutions worldwide. The firm offers a variety of training programs, including sales, organization development, customer service, people skills, and presentation training. The firm provides these classes both in-person and online in thirty different languages. A government agency is another client of Dale Carnegie & Associates, Inc. The GSA Federal Supply Schedule, #GS-10F-0329K, granted the corporation permission in 2001 to provide its services to US federal government entities. In addition, the organization offers tailored training programs to support companies' efficient expansion. 85 nations provide courses in 35 languages from Dale Carnegie & Associates, Inc. In addition to the United States, the corporation operates in Central America, South America, Canada, Europe, Africa & the Middle East, Asia, Australia, and New Zealand.

  • Franklin Covey Co. - Franklin Covey is a company that offers performance-enhancement training for both individuals and organizations. The corporation operates in three divisions: corporate and others, enterprise division, and education division. In its education and enterprise business, the firm provides live in-person, live online, and on-demand personal development training programs for leadership, execution, production, sales performance, customer loyalty, and education. Courses are available in 21 languages as well.

  • Hay House Publishing - Hay House Publishing offers items for inspiring and educating people in addition to publishing services. Products within the company's portfolio include, among other things, calendars, card decks, CDs, and DVDs. In addition, the firm provides internet services including online classes and hosts shows on an internet radio station. Balboa Press, the corporation's self-publishing section, assists independent writers in releasing their works. The company's main areas of interest are children's literature, astrology, inspiration, health & healing, mind-body-spirit, and self-improvement. The firm has released over 350 radio programs and over 300 books, and it is present in over 35 countries.

  • Landmark Worldwide - Offering seminars, courses, and community forums, Landmark Worldwide is a supplier of training and development programs for both personal and professional development. The American Management Association, the International Society for Performance Improvement, the Academy of Management, and the American Society for Training and Development all own subsidiaries of Landmark Worldwide. With more than 600 employees and 700 qualified specialists worldwide, the firm serves over 2.4 million customers from 21 different countries.

  • Nutrisystem Inc. - The firm sells goods and services for weight loss. The organization maintained a physical location where it offers weight reduction goods and counselling. To communicate with customers directly, the corporation began using digital technologies. Through innovation and its Food & Nutrition Mission, an ongoing endeavour to make its meals fresher, labelling clearer, and approach to ingredients more transparent, Nutrisystem is committed to continually reviewing the nutritional quality, flavor, and overall appeal of its food.

  • Toastmasters International - Through its extensive worldwide network of clubs, Toastmasters International, a non-profit organization, assists its members by providing leadership development and public speaking instruction. The organization provides its members with learning opportunities through several avenues, including dynamic leadership, creative planning, compelling storytelling, leadership development, persuasive influence, teamwork, strategic partnerships, and visionary communication. With over 14,700 clubs worldwide, the firm is present in over 144 countries.

  • SkillPath - As a professional coaching and training provider, SkillPath provides a range of learning and development courses. The government, healthcare, banking, manufacturing, education, hospitality, entertainment, and nonprofit sectors are just a few of the industries the firm supports. To help clients improve their abilities in administrative support, business writing and advertising, customer service, finance and accounting, human resources, management and supervisory, Microsoft Excel and office software, personal development, and other areas, SkillPath supplies training programs. The firm offers customizable on-site training, teleconferencing, interactive webinars, live seminars, and webinars, as well as off-the-shelf personalized training.

  • Success Resources America - The business and personal development division of Success Resources America is in operation. The organization provides live events, experiential workshops, and in-person courses for professional training and coaching, business relationships, business solutions, millionaire mind intensive, goal setting, time management, social media marketing, seminars & coaching, motivational training, and personal development programs. In the areas of money & finance, job & business, personal development, and communication & networking, Success Resources America also provides services and solutions. In addition to organizing more than 500 events annually, the firm serves over 10 million customers across over 35 countries.

  • Fabulous -Fabulous provides programs that leverage behavioural science to assist users in creating smart adjustments and good habits. The Duke University Advanced Hindsight Center is where the application was created. For teams and executives looking to foster good relationships, the organization provides an application. In addition to a business plan for groups larger than 51 members, the company provides plans for teams of five to fifty members. With versions in French, English, German, Spanish, and Portuguese, the program has been downloaded by 30 million users. DP World, Takeda Pharmaceutical Company Limited, Bluetooth SIG, Inc., Jobsity, LLC, Macadamian, SS&C Technologies Holdings, Inc., HP Inc., and many more have downloaded Fabulous.

  • Headspace Inc. - Headspace Inc. offers scientifically grounded mindfulness and meditation tools to empower individuals in enhancing their mental well-being and developing transformative habits. The business sells a meditation app that offers family and student programs. Additionally, Headspace for Work assists businesses in caring for the mental health of their workforce. With 70 million users across 190 countries, the company's technologies are embraced by several businesses, such as Adobe Inc., Paysafe Holdings UK Limited, Telefonaktiebolaget LM Ericsson, Aritzia LP, and numerous more.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Personal Development Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Personal Development Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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