Increase in number of internet users each day has presented various opportunities for the growth of several online businesses. Online coaching is one of the online business markets growing significantly by the use of digitalization. Artificial intelligence, Internet of Things, evolving communication tools, and modern software has made distance education more reliable nowadays. The online coaching market is expanding rapidly and experiencing exponential growth. Generally, online coaching has been used for either educational purpose or corporate growth but the trend of personal growth has created demand for online career coaching, dating coaching, life skills coaching, health coaching, relationship coaching, wellness coaching, and others. The use of technology and personal portable devices has inclined the users toward informal mode of education. Online coaching makes it easy for the students, entrepreneurs, homemakers, and others to enhance their skills and knowledge at the choice of their location. The International Coach Federation (ICF), a professional coaching platform, has defined coaching as “partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential”.
Market scope and structure analysis :
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Age Group, Provider, and Region|
|Regions covered||North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Satori, SimplePractice, Udemy, Coursera, TrueCoach, CoachAccountable, KPMG, Unacademy, BYJU’S, PracticeBetter, Nudge Coach, Coach Catalyst, Noomii, CourseForce, Your earth angel.|
COVID-19 Scenario Analysis:
- The lockdown scenario caused due to COVID-19 pandemic has led to a surge in the online coaching platform. Online coaching has become the most preferable option for the young generation as well as entrepreneurs to utilize their time.
- Several cloud-based coaching software are being used by institutions to provide the live classes to their students.
- Online sports coaching has also been proposed to increase productivity.
- Several courses have been introduced by various coaching platforms to boost their sales and revenue.
- The government initiatives for live classes are also serving in the growth of the market. The post COVID scenario is likely to benefit the online coaching market as the mass gathering will be prevented.
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Top Impacting Factors:Market Scenario Analysis, Trends, Drivers AndImpact Analysis
The online coaching platforms have created opportunities both for the coaches and the learners. The coaches can simply enroll themselves with the online platforms and coach from their suitable location as well as earn. On the other hand, the learners can choose the courses according to their needs and interest without being physically present in any coaching center or institute worldwide. The surge in artificial intelligence, innovation, and technology, cloud-based virtual coaching platforms, variety of courses offered, internet penetration, increase in the disposable income, advancement in the coaching profession, employability quotient, preparation for the strenuous examination, animated leaning and need to upgrade corporate skills are the factors that drive the growth of the global online coaching market. However, increase in competition in the market, genuine certifications, quality of coaching, availability of the strong internet connections, affordability, and pricing hinder the market growth. Whereas, introducing relevant and affordable coaching programs, government initiatives, assisting coaches from various parts of the world, and creating influence in the corporate society present new opportunities in the online coaching market.
The global online coaching market trends are as follows:
Evolution of the online coaching market
The online coaching market has increased competition as many online platforms have been introduced worldwide and are providing various types of coaching in just one click. The category of coaches is not only limited to educational or corporate purposes but also certain life coaches, relationship coaches, health and fitness coaches, career coaches, entrepreneurship coaches have become a trend.The key players are launching various massive open online courses (MOOCs) to provide interactive courses to the clients. SimplePractice, a leading online coaching platform has been developing strong client connection by focusing more on secure video appointments, screen sharing, secure, and convenient payment methods. The leading platforms have shifted their focus on administrative tools like payments and scheduling, communication mode, data collection, data analysis, and pertinent content delivery. The various language teaching courses have also gained more insight among the international corporate culture and Z generation. The qualified and certified coaches are being appointed by the key players to increase the market share.
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Customization according to the markets
U.S., China, India, UK, and South Korea are the leading countries in terms of online coaching. Several esteemed institutions and universities have been offering distance education programs and have proven to be beneficial for the economies. The government initiatives augment online education platform and professional coaching. India has shown huge growth in the online education sector and co-creation of industry certified content by introducing gamification concept for customer engagement.
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global online coaching industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global online coaching market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global online coaching market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global online coaching market analysis based on competitive intensity and how the competition will take shape in the coming years.
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