Online Personal Development Market

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Online Personal Development Market

The US personal development market was valued at $11 billion in 2018. The market is projected to continue to grow at a CAGR of 5.6% and to hit $13.2 billion by 2022. Millennials in the US are willing to spend $300 monthly on personal development products and services.

US Personal Development Market

  • The size of the US personal development market, also referred to as the self-improvement or personal improvement market, was $11 billion in 2018, up from $9.38 billion in 2016. Self-improvement apps have a market size of $27 million.
  • The most prominent personal development mediums in the US since 2016 are e-platforms and personal coaching. Industry forecast has also shown that this trend will continue till 2027.
  • Millennials make up a larger percentage of personal development platform users. 94% of millennials in the US have reportedly made self-improvement commitments and are willing to spend as much as $300 monthly, twice as much as baby boomers, to that effect.
  • In recent times, there has been an increase in the use of online self-development platforms, with more providers making their products and services available through virtual events.
  • Personal development products and services are now targeted at millennials as they have become the industry's primary consumers, with 75 million millennials using self-development products and services globally.
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Sources