Coaching Industry: Global Opportunities, Market and Growth

Coaching originally arrived on the scene some 20 years ago has grown in popularity over the last decade, and is now something that the majority of companies are pursuing, especially for their top talent.

A Look At Number of Coaches in 2021

By 2020, India has five International Coaching Federation Chapters spread across the country. Furthermore, India has roughly 4,500 trained coaches as well as a number of Indian and international coaching courses.

According to the ICF, there were 53,300 part-time and full-time coaches worldwide in 2011, up from 47,500 in 2010. Approximately 92 percent of them are engaged in some form of activity. A total of 17,500 coaches operate in the United States, accounting for 33% of the total. By 2022, the market value is estimated to reach USD 1.34 billion, representing a 6.7 percent annual growth rate from 2016 to 2022.

Market and Growth Trends in the Coaching Industry

Coaching first arrived on the scene approximately 20 years ago has grown in popularity in the previous ten years, and is now something that most firms are pursuing, particularly for their top talent.

Professionals have also become interested in exploring life outside of the corporate environment, and having a trusted mentor is always beneficial. Many working professionals have discovered that self-awareness is not only important in leadership jobs, but also in living a happy life. As a result, a growing number of people are hiring personal coaches.

Rise In Demand of Coaches in Corporate World

In 2019, the Coaching Industry is expected to be worth $15 billion, with $7.5 billion in market value in the United States alone. The market value is estimated to reach $20 billion by 2022, with an average annual growth rate of 6.7 percent from 2019 to 2022. Furthermore, according to PwC, the Coaching Industry is the world's second-fastest-growing sector.

In 2019, there are predicted to be 5,86,292 coaches in the world. Approximately 92 percent of these are in use. A total of 2,88,500 coaches operate in the United States, accounting for 42 percent of the total.

The demand for life coaches is still on the rise, and the business is predicted to increase at a rate of around 5.4 percent each year.

With the surge in supply of coaches and increasing demand for coaches, the corporate world has become more discerning in selecting coaches.

Problems Faced of Coaching Industry

Today's largest difficulty for coaches is that inexperienced and inept coaches are tarnishing the industry's reputation. The field of coaching is uncontrolled. There is no need for a license. As a result, anyone can claim to be a Coach. The coaching profession is very aware that poor coaching reflects poorly on the field. Currently, there are more than 500 training and "certification" programs worldwide, and many of them will certify you if you simply pay them a fee.

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