Global Soft Skills Training Market to Reach US$ 83.5 Billion by 2032, Catalyzed by Increasing Demand for Workplace Competencies

May 25, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Soft Skills Training Market Report by Soft Skill Type (Management and Leadership, Administration and Secretarial, Communication and Productivity, Personal Development, Teamwork, and Others), Channel Provider (Corporate/Enterprise, Academic/Education, Government), Sourcing (In-house, Outsourced), Delivery Mode (Online, Offline), End Use Industry (BFSI, Hospitality, Healthcare, Retail, Media and Entertainment, and Others), and Region 2024-2032," the global soft skills training market size reached US$ 29.8 Billion in 2023. Soft skills training refers to the development and enhancement of interpersonal skills that are essential for effective engagement in personal and professional settings. It includes communication, teamwork, cooperation, creativity, conflict resolution, emotional intelligence, delegation, problem-solving, logical reasoning, and strategic thinking skills. Soft skills training is widely used to train employees, managers, leaders, human resource (HR) professionals, students, teachers, entrepreneurs, and job seekers. It improves team dynamics, boosts productivity, enhances leadership effectiveness, increases employability, and promotes positive work culture. Soft skills training also aids in enhancing customer satisfaction, building stronger relationships, improving retention rates, increasing employee engagement, and ensuring long-term professional success.

Soft Skills Training Market Trends:

The increasing demand for workplace competencies is one of the primary factors propelling the market growth. Soft skills training is widely used to develop strong interpersonal, communication, and problem-solving abilities in employers, which aids in increasing productivity, improving engagement, streamlining workflow, enhancing work ethics, ensuring better decision-making, and promoting a positive workplace environment. Furthermore, the growing cross-cultural collaboration, owing to the rapid globalization activities, is facilitating the demand for soft skills training to develop cultural competencies and empathy to effectively engage with colleagues and clients from different backgrounds. Additionally, the integration of machine learning (ML) and artificial intelligence (AI) technologies to provide personalized feedback, identify weaknesses, and develop customized training programs to suit an individual’s specific requirements is positively influencing the market growth. Besides this, the utilization of gamification techniques to promote active engagement, facilitate friendly competitions, and make the entire learning experience more effective and enjoyable is contributing to the market growth. Moreover, the widespread utilization of soft skills training in schools, universities, and other academic institutions to improve employability and prepare students for future career success is favoring the market growth. Other factors, including the increasing focus on customer satisfaction, emerging start-up culture, and the rising emphasis on employee well-being among organizations, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 83.5 Billion by 2032, exhibiting a CAGR of 12% during 2024-2032.

Market Summary:

  • On the basis of the soft skill type, the market has been divided into management and leadership, administration and secretarial, communication and productivity, personal development, teamwork, and others. Among these, communication and productivity represents the largest segment.
  • Based on the channel provider, the market has been classified into corporate/enterprise, academic/education, and government. At present, the corporate/enterprise segment accounts for the largest market share.
  • On the basis of the sourcing, the market has been bifurcated into in-house and outsourced. Among these, outsourced represents the largest segment.
  • Based on the delivery, the market has been divided into online and offline. At present, the offline segment accounts for the largest market share.
  • On the basis of the end use industry, the market has been classified into BFSI, hospitality, healthcare, retail, media and entertainment, and others. Among these, BFSI represents the largest segment.
  • On a regional basis, the market has been categorized into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Among these, North America holds the largest market for soft skill training.
  • The competitive landscape of the industry has also been examined, with some of the key players being Articulate Global Inc., Cengage Learning Inc., Computer Generated Solutions Inc., D2L Corporation, edX Inc., New Horizons Worldwide LLC, NIIT Limited, Pearson PLC, QA Limited, Skillsoft Corporation, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Soft Skill Type, Channel Provider, Sourcing, Delivery Mode, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Soft Skills Training Market to Reach US$ 83.5 Billion by 2032, Catalyzed by Increasing Demand for Workplace Competencies
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