Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Business Coaching in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
The Business Coaching industry, renowned for offering leadership and management training courses, including IT and conflict resolution, has showcased remarkable resilience in the face of economic challenges. Focused primarily on serving the middle and senior management staff of US corporations, the industry faced a significant shift in demand dynamics due to the COVID-19 pandemic in 2020. However, the industry rebounded as corporations sought guidance to navigate the unprecedented work environment. As both corporations and consumers resumed spending on discretionary services, the industry experienced a recovery in 2021-2022.
Industry Overview:
The Business Coaching industry comprises companies that provide short-duration courses and seminars for management and professional development. Training is offered through public courses or employer training programs, with the flexibility to customize or modify courses. Instruction may take place at the company's training facilities, client locations, educational institutions, workplaces, homes, or via various digital platforms, including TV and the internet.
Key Highlights:
- Pre-Pandemic Growth: Prior to 2020, favorable economic conditions had facilitated the expansion of new and existing companies, driving demand for leadership and management training courses offered by business coaches.
- Impact of COVID-19: The COVID-19 pandemic had a profound impact on corporate profit and consumer spending, leading to increased demand for business coaches as corporations sought guidance in navigating the challenging pre-pandemic work environment.
- Resilience and Recovery: Despite the economic challenges of 2020 and ongoing uncertainty, the Business Coaching industry exhibited resilience and demonstrated recovery in 2021-2022.
- Revenue Growth: Over the past five years, the industry achieved a Compound Annual Growth Rate (CAGR) of 2.3%, reaching a total revenue of $15.2 billion.
- 2023 Plateau: In 2023, the industry's revenue reached a plateau, experiencing no significant growth, but maintaining its size.
Industry Outlook:
The Business Coaching industry is expected to continue adapting to evolving market conditions. As corporations prioritize leadership and management development in a rapidly changing business landscape, the demand for business coaching services is expected to persist. Industry players are likely to explore new delivery methods, including digital platforms, to meet the diverse needs of their clients.
Companies Mentioned
- Interpublic Group Of Companies, Inc.
- W20 Group
- Franklin Covey Co.
- Waggener Edstrom Worldwide Inc.
- Dan Klores Communications Inc.
- ICR
- Signature Inc.
- Future Media Concepts Inc.
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/601t9
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