A coil component includes: a body having a first surface and a second surface opposing each other in a thickness direction of the body and a wall surface connecting the first and second surfaces; a coil part including coil patterns and including at least one turn centered on the thickness direction; external electrodes disposed on the first surface of the body and electrically connected to the coil part; a shielding layer including a cap portion disposed on the second surface of the body and side wall portions disposed on the wall surface of the body and each having a first end connected to the cap portion; an insulating layer disposed between the body and the shielding layer; and a gap portion bounded by a second end of the shielding layer opposing the first end and the first surface of the body to expose portions of the wall surface.