NEWARK, Del, Nov. 15, 2023 (GLOBE NEWSWIRE) -- As per the newly released data by Future Market Insights (FMI), the global coaching platform market is expected to be worth US$ 2,695.2 million in 2024 and US$ 9,952.0 million by 2034. It is projected to rise at a 13.9% CAGR from 2024 to 2034.
The coaching platform market is expected to surge rapidly during the forecast period. This is due to several factors, including expanding life expectancy, rising competition, and changing market outlook.
Several organizations are actively looking to put their leaders through the grind of dynamic business environments and are investing heavily in employee education and training. Hence, with rapidly growing interest among corporates to invest in enhancing their skills as leaders, new opportunities are likely to open up for players operating in the coaching program market.
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Technology is playing an increasingly important role in the coaching industry. Coaching platforms are using technology to provide new and innovative ways to deliver coaching services, such as through live video coaching, chat-based coaching, and AI-powered coaching tools.
The market is highly competitive, with several companies offering a wide range of programs. A handful of the key players in the coaching platform market include BetterUp, Coachhub, Coaching.com, EdMyst.com, and Torch Leadership Labs, among others.
Key Takeaways from the Coaching Platform Market Study:
- By coaching type, the life coaching category is anticipated to register a significant CAGR of 19.2% in the forecast period.
- In terms of end-users, the individual segment is expected to witness a 15.3% CAGR during the estimated period.
- On the basis of the mode of learning, the hybrid model is leading the coaching platform market and is set to expand at a CAGR of 15.4% through 2034.
- By technology, the mobile apps segment is anticipated to register a significant CAGR of 14.4% in the forecast period.
- India’s coaching platform market is expected to surge at a CAGR of 14.4% by 2034.
“Coaching is becoming increasingly popular as people seek support to achieve their personal and professional goals. Coaching platforms would make it easier for people to find and access qualified coaches. Furthermore, coaching platforms can offer a convenient and flexible way for people to get coaching from anywhere in the world, thereby driving the coaching platform market,” – Opines Sneha Verghese, Senior Consumer Goods and Products Consultant at Future Market Insights (FMI).
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Key Companies Profiled
- BetterUp
- Coachhub
- Coaching.com
- EdMyst.com
- Torch Leadership Labs
- Bravely
- Sounding Board Inc.
- EZRA
- CoachReady
- Skyline G
- Simply.Coach
- Coachvici
- Ovida
- TaskHuman
- Satori
- Fingerprintforsuccess
- Nudge Coach
- Profi
- Landit
- AceUp
- Coaching Loft
- Coach Accountable
- Cloverleaf
- Optify
- Up Coach
- Quenza
- CoachingCloud
The coaching platform market has a fragmented competitive landscape with a number of players competing on the basis of diverse coaching types, end-users, modes of learning, and technology. The technological landscape in the coaching platform market is constantly evolving, and new technologies are emerging all the time. As technology continues to advance, there is high expectation to see even more innovative and effective coaching platforms emerge in the future.
For instance,
- In August 2023, BetterUp extended its collaboration with the Invictus Games Foundation to continue helping those who are a part of the Invictus community.
- In August 2023, AIMYTM, the first conversational AI career coach, was introduced by CoachHub. AIMYTM is a chatbot that can assist users with career development, right from goal-setting to job hunting.
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Get More Valuable Insights into the Coaching Platform Market Report:
Future Market Insights, in its new offering, provides an unbiased analysis of the coaching platform market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study divulges compelling insights on the coaching platform market by coaching type (career coaching, wellness coaching, executive coaching, life coaching, academic coaching), by end-user (individuals, corporations and organizations, educational institutions, and coaching professionals), by mode of learning (one-on-one coaching, group coaching, hybrid models), by technology (mobile apps, web-based platform), and regions.
Restraints:
While the coaching platform market shows promising growth, challenges persist. Concerns related to data security, quality assurance in virtual coaching experiences, and the ability to personalize coaching at scale pose as potential hurdles in the market's expansion. Overcoming these challenges will be crucial for sustained growth.
Coaching Platform Market Segmentation by Category
By Coaching Type:
- Career Coaching
- Wellness Coaching
- Executive Coaching
- Life Coaching
- Academic Coaching
By End-user:
- Individuals
- Corporations and Organizations
- Educational Institutions
- Coaching Professionals
By Mode of Learning:
- One-on-One Coaching
- Group Coaching
- Hybrid Models
By Technology:
- Mobile Apps
- Web-based Platform
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
Author:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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