Coaching Industry Global Opportunities Market and Growth

A Look At Number of Coaches in 2021
Fast forward to 2020, and there are five International Coaching Federation Chapters in cities across India. What’s more, there are approximately 4,500 trained coaches across India and several Indian and International coaching courses as well. India has hosted a few local, national and global coaching conferences to create awareness of coaching as well. The pressure to perform, be agile and innovative, develop and empower teams, and a desire to experience life, is clearly making it imperative for leaders to build self-awareness. The reflective presence of a coach helps the client to develop self-awareness and facilitates the client to act relevantly and collaboratively.

Globally speaking, according to the International Coach Federation, in 2011 there were 53,300 coaches, up from 47,500 part-time and full-time coaches worldwide. About 92 percent of them are active. Of these, 33 percent operate in the United States – a total of 17,500 coaches. It is expected the market value to reach USD 1.34 billion by 2022 – or a 6.7 percent average yearly growth rate from 2016 to 2022.

The biggest challenge faced in coaching today is that untrained and incompetent coaches are damaging the reputation of the industry.

Market and Growth Trends in the Coaching Industry
Over the last few years, however, coaching has been used to develop people who are transitioning roles, changing careers. Even leaders who realize that they need external support to understand their thought patterns and triggers and become more productive and successful are opting for it.

Coaching appeared on the scene about 20 years ago, gained a fair degree of popularity within the last 10 years and now is something most organizations are moving towards especially for their top talent.

Furthermore, professionals have become keen to explore life beyond the dimensions of the corporate world, and having a trusted mentor is always helpful. Many working professionals have realized that self-awareness is not limited to leadership roles but is an essential ingredient to living life with happiness. Hence, several individuals have started engaging coaches on a personal basis. To serve this growing need, coaches offer services in different niches like career coaching, wellness coaching, leadership coaching, happiness coaching, etc. Coaching is no-longer perceived as an expense but an investment into personal development and growth.

While a few years ago people were largely looking to change careers and become coaches, now a lot are attending formal coaching training not to change profession, but to add meta skills to their existing profession (e.g. lawyers, music business professionals, HR professionals, project managers, sales managers, etc).