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What is the USA market-size (TAM) for the life coaching industry?
Hello! Thanks for requesting the US market size (TAM) for the life coaching industry. The short version is that the life coaching industry is valued at USD $1 billion, and it employes 18,359 coach practitioners. 33% of the coach practitioners are located in North America. Below you will find a deep dive of my findings.
US MARKET SIZE (TAM) FOR THE LIFE COACHING INDUSTRY
According to a report by IBISWorld, published in March 2017, the life coaching industry is valued at USD $1 billion. It's annual growth from 2012 to 2017 has been 4.7%. It employes 18,359 coach practitioners (33% of the global coach practitioners worldwide), and there are 13,481 companies in this industry. Life coaches conduct a large part of their coaching remotely; however, most coaches work with local clients, so they are able to conduct face-to-face sessions to complement their work. The largest companies specialize in remote coaching to reach a national market, but these constitute a small share of the market. The annual revenue of life coaches is approximately USD $61,900.
Professionals in this industry help clients with personal and relationship issues. This industry does not include psychologists, business analysts or mental health counselors. Demand for these coaches rises when people lose confidence in their own ability to handle problems. Demand is also susceptible to changes in disposable income. In the past five years, the industry has grown due to a better economic climate, and during the next five years the industry will continue to thrive. People that hire the services of life coaches experience a higher quality of life, greater levels of self-awareness, and improved capacity with respect to goal setting.
CONCLUSION
To wrap it up, the life coaching industry is valued at USD $1 billion, and it employes 18,359 coach practitioners (33% of the global coach practitioners worldwide) Thanks for using Wonder! Please let us know if we can help with anything else!