SharePoint Online: Create New Group in Term Store using PowerShell

Requirement: Create new group in SharePoint Online Term Store.

How to Create a New Term Group in SharePoint Online?
To create a new group in SharePoint online term store, follow these steps:

• Navigate to your SharePoint admin center site. (E.g. https://yourdomain-admin.sharepoint.com)
• Click the "term store" link on the left navigation menu.
• Click on the little arrow in the Taxonomy Header >> Click on New Group Menu option
  
• Type the name of your term group. Hit enter to complete creating the term group.
  

PowerShell to Add New Term Group in SharePoint Online:

#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Taxonomy.dll"
  
#Variables for Processing
$AdminURL = "https://crescent-admin.sharepoint.com/"
$TermGroup ="Regions"

Try {
    #Get Credentials to connect
    $Cred = Get-Credential
    $Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($Cred.Username, $Cred.Password)

    #Setup the context
    $Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($AdminURL)
    $Ctx.Credentials = $Credentials

    #Get the term store
    $TaxonomySession=[Microsoft.SharePoint.Client.Taxonomy.TaxonomySession]::GetTaxonomySession($Ctx) 
    $TermStore =$TaxonomySession.GetDefaultSiteCollectionTermStore()
    $Ctx.Load($TaxonomySession)
    $Ctx.Load($TermStore)
    $Ctx.ExecuteQuery()
    
    #Check if the given group exists already
    $TermGroups = $TermStore.Groups
    $Ctx.Load($TermGroups)
    $Ctx.ExecuteQuery()
    $Group = $TermGroups | Where-Object {$_.Name -eq $TermGroup}
    
    If(-not $Group)
    {
        #Create Term Group
        $NewGroup = $TermStore.CreateGroup($TermGroup, [System.Guid]::NewGuid().toString())
        $Ctx.Load($NewGroup)
        $Ctx.ExecuteQuery()
    
        Write-host "Term Group '$TermGroup' Created Successfully!" -ForegroundColor Green
    }
    else
    {
        Write-host "Term Group '$TermGroup' Exists Already!" -ForegroundColor Yellow
    }
}
Catch {
    write-host -f Red "Error Adding Term Group!" $_.Exception.Message
}

Create Term Group in SharePoint Online using PnP PowerShell

#Config Variables
$AdminCenterURL = "https://crescenttech-admin.sharepoint.com"
$TermGroupName = "Regions"
$TermGroupDescription ="Term Group for Deals Pipeline Regions"

#Connect to PnP Online
Connect-PnPOnline -Url $SiteURL -Credentials (Get-Credential)

#Check if Term group exists
If(-Not(Get-PnPTermGroup -Identity $TermGroupName -ErrorAction SilentlyContinue))
{
    #Create new group in Termstore
    New-PnPTermGroup -Name $TermGroupName -Description $TermGroupDescription
    Write-host -f Green "Term Group '$TermGroupName' created successfully!"
}
Else
{
    Write-host -f Yellow "Term Group '$TermGroupName' already exists!"
}