The latest report by IMARC Group, titled “India Soft Skills Training Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India soft skills training market size reached US$ 509.4 Million in 2021. Soft skills training are programs designed to improve skills such as communication, critical thinking, time management, problem-solving, positive attitude, emotional intelligence, and teamwork. They are usually offered through various offline and online platforms. They involve the development of critical thinking, cognitive flexibility, interpersonal communication, and negotiating skills. They help employees acquire favorable personality traits and navigate the professional environment to achieve personal and business goals. Since soft skills training programs enhance customer service, sales, employee retention, job satisfaction, and overall work productivity, they have gained immense popularity among organizations in India.
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.
India Soft Skills Training Market Trends:
In India, the shifting focus toward the holistic development of employees in the corporate sector represents the primary factor driving the market growth. Moreover, the surging need for professional individuals with expert interpersonal and communicative skills has accelerated the adoption of soft skills training. Additionally, there has been widespread incorporation of soft skills training programs in academia as a part of school and university curricula to improve the employability of students and create numerous lucrative professional opportunities. In line with this, the rising adoption of such programs by small- and medium-sized enterprises (SMEs) across the country to expand their businesses and build an efficient clientele has augmented the product demand. Furthermore, various technological advancements, including the large-scale integration of soft skills training programs with innovative technologies, such as cloud computing, virtual reality (VR), and artificial intelligence (AI), have catalyzed market growth. Other factors, including the surging need to lower the skill gap among individuals, emerging digitization trends, rapid industrialization, expanding human workforce, and rising spending on digital learning programs, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,173.7 Million by 2027, growing at a CAGR of 15.14% during 2022-2027.
- Based on the soft skill type, the market has been classified into management and leadership, administration and secretarial, communication and productivity, personal development, teamwork, and others. Amongst these, communication and productivity is the most popular soft skill type.
- On the basis of the channel provider, the market has been segmented into corporate/enterprise, academic/education, and government. Presently, corporate/enterprise accounts for the majority of the market share.
- The market has been categorized based on the sourcing into in-house and outsourced. Currently, outsourced holds the largest market share.
- Based on the delivery mode, the market has been bifurcated into online and offline, wherein offline exhibit a clear dominance in the market.
- On the basis of the end use industry, the market has been divided into BFSI, hospitality, healthcare, retail, media and entertainment, and others. BFSI currently represent the largest end use segment.
- Region-wise, West and Central India hold the leading position in the market. Other major regions include North India, South India, and East India.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
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