Soft Skills Training Market: Introduction
Transparency Market Research delivers key insights on the global soft skills training market. In terms of revenue, the global soft skills training market is estimated to expand at a CAGR of ~12% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global soft skills training market.
The global soft skills training market is broadly impacted by several factors, such as increasing focus on soft skills development such as communication and leadership within corporate and education institutes. Thus, expanding importance of soft skills training for different end users is propelling the global market for soft skills training.
Soft Skills Training Market: Dynamics
Soft skill is a combined set of behavior, which defines a person’s personality and has the ability to interact with other people in the existing environment. Soft skill is a combination of social skills, communication skills, character or personality traits, attitudes, career attributes, social intelligence, and emotional intelligence. Soft skills determines a person’s personal and professional relationships, and also his/her ability to do things, and achieve personal and professional goals. In the current scenario, soft skills is considered one of the most important abilities during the recruitment process. The soft skills training market report provides an overview of types of soft skills, various soft skills training methods being adopted to train employees in different markets, and also describes different industries and their adoption of soft skills training.
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The availability of soft skills training through online platforms is an important factor driving the soft skills training market. The COVID-19 pandemic has played a critical role in boosting the online training platform. Risk of infection and lockdown in several countries have fueled the demand for online platforms. Schools, colleges, offices, and businesses have shifted to online platforms, which has propelled the online platform market from the first quarter of 2020. As per World Economic Forum, COVID-19 has resulted in shutting down of schools across the world. Globally, over 1.2 billion children are out of their classrooms. The overall market for online education is projected to reach US$ 350 Bn by 2025, which includes language apps, virtual tutoring, video conferencing tools, or online learning software.
Soft skills are increasingly in demand in the workplace. Google LLC quoted creativity, leadership potential, and communication skills as top prerequisites for both potential and current employees. The increasing focus on soft skills is likely to enhance the role of online training platforms in boosting the soft skills training market.
Soft Skills Training Market: Prominent Regions
Presently, North America generates the highest revenue for soft skills training across all regions. The soft skills training market in North America is expected to reach US$ 18,110.2 Mn by the end of year 2030 from US$ 5,476.4 Mn in year 2019, at a CAGR of 11.7% during the forecast period. Miscommunication in businesses across the U.S. and the U.K. cost US$ 37 Bn per annum. It has also been observed that 85% of dismissals in the US are due to personality conflicts. The soft skills training market in Asia Pacific is expected to expand at the highest CAGR during the forecast period.
Soft Skills Training Market: Key Players
Key players operating in the global soft skills training market are Cengage Learning, Inc., Computer Generated Solutions, Inc., D2L Corporation, edX, Inc., Interaction Associates, Inc., New Horizons Worldwide, LLC., NIIT Limited, Pearson PLC, QA Ltd., Skill Key Interactive, LLC, Skillsoft Corporation, Tata Interactive Systems, The Insights Group Ltd., VitalSmarts, and Wilson Learning Worldwide.
Global Soft Skills Training Market: Segmentation
Soft Skills Training Market, by Delivery Mode
- Regular/Offline
- Online
- Asynchronous Online Courses
- Synchronous Online Courses
- Hybrid Courses
Soft Skills Training Market, by Soft Skills Type
- Management & Leadership
- Administration & Secretarial
- Communication & Productivity
- Personal Development
- Team Work
Soft Skills Training Market, by Channel Provider
- Corporate/Enterprise
- Academic/Education
- Government
Soft Skills Training Market, by End-use Industry
- Banking, Financial Services & Insurance (BFSI)
- Energy & Power
- Manufacturing
- Hospitality
- IT & Telecom
- Retail
- Healthcare & Pharmaceuticals
- Media & Entertainment
- Others (Legal, Education, etc.)
Soft Skills Training Market, by Sourcing Type
- In-house
- Outsourced
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