The global soft skills training market size reached US$ 23.64 Billion in 2021. Looking forward, the market expects to reach US$ 47.16 Billion by 2027, exhibiting at a CAGR of 12.3% during 2022-2027, according to the latest report by IMARC Group.
Soft skills are a combination of personality traits, communication skills, and social and emotional intelligence. These skills are essential for enabling individuals to manage relationships, communicate efficiently, and lead a team. These traits characterize how individuals interact with others in a workplace setting. These skills can also be effectively applied for critical thinking, conflict resolution and time management. As a result, professionals are encouraged to undertake professional training for improving these skills that will ultimately assist them in achieving personal and business goals.
Soft skills training is commonly being delivered at academic and commercial levels via numerous online and offline programs. They are widely gaining prominence due to the evolving corporate culture across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends
The increasing focus on the holistic development of employees in the corporate sector represents one of the primary factors driving the market growth. In line with this, numerous companies are also mandating the requirement of soft skills training among the newly recruited employees, thereby providing a thrust to the market.
The market is further driven by the incorporation of soft skills training programs in the academia as a part of school and university curriculum. This is done in an attempt to improve the employability of the students after completing their formal education. These programs are widely being adopted as they are expected to assist students in inculcating the advanced skills of delegation, cohesiveness and collaboration that will further create numerous lucrative professional opportunities.
Furthermore, these training programs are now being integrated with AR and VR technologies in an attempt to make the studying process more innovative and interactive. Other factors, including overall increasing human workforce and the rising need for professional individuals with expert interpersonal and communicative skills, are expected to contribute to the market growth.
Global Soft Skills Training Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Articulate Global Inc., Cengage Learning Inc., Computer Generated Solutions Inc., D2L Corporation, edX Inc., New Horizons Worldwide LLC, NIIT Limited, Pearson PLC, QA Limited and Skillsoft Corporation.
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The report has segmented the market on the basis of Soft Skill Type, Channel Provider, Sourcing, Delivery Mode, End User and Region.
Market Breakup by Soft Skill Type:
Management and Leadership
Administration and Secretarial
Communication and Productivity
Personal Development
Teamwork
Others
Market Breakup by Channel Provider:
Corporate/ Enterprise
Academic/ Education
Government
Market Breakup by Sourcing:
In-house
Outsourced
Market Breakup by Delivery Mode:
Online
Offline
Market Breakup by End Use Industry:
BFSI
Hospitality
Healthcare
Retail
Media and Entertainment
Others
Market Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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