Soft Skills Training Market

Market Overview:

The global soft skills training market size reached US$ 26.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.1 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028. The increasing need for employees with effective leadership, rising number of mobile applications, and the growing influence of social media represent some of the key factors driving the market.

Soft skills refer to the personal qualities, attitudes, behavior, and communication abilities to work effectively with others. They comprise teamwork, problem solving, creativity, leadership, time management, adaptability, and emotional intelligence. They can be developed by various training methods, including workshops, online courses, coaching, mentoring, and on-the job training, which assist in improving communication, collaboration, and overall effectiveness in the workplace. Soft skills training helps develop leadership qualities, such as being capable of motivating and inspiring others, building trust, and communicating effectively. These training programs support individuals in managing their time more effectively, prioritizing tasks, and staying focused on important goals. Soft skills training also encourages individuals to develop better customer service skills, such as active listening, empathy, and problem solving, which leads to greater customer satisfaction and loyalty.

Soft Skills Training Market Trends:

The increasing need for employees with effective leadership and communication attributes represents one of the major factors driving the demand for soft skills training programs in small and medium-scale enterprises (SMEs) around the world. Moreover, the rising adoption of soft skills training in educational institutes to improve the employability of the students after completing their formal education is favoring the growth of the market. In addition, there is an increase in the number of mobile applications and websites offering soft skills training programs. This, coupled with rapid digitization, increasing sales of smart devices like smartphones, tablets, and laptops, and rising penetration of high-speed internet connectivity, is influencing the market positively. Apart from this, the integration of artificial intelligence (AI), augmented reality (AR), virtual reality (VR), machine learning (ML), the internet of things (IoT), chatbots, cloud computing, character development, and gamification in applications offering soft skills training programs are contributing to the market growth. These advanced technologies are used to deliver content in an interactive and engaging way and help provide personalized feedback and guidance in real time to practice and improve skills. Furthermore, the emerging trend of social media management and communication and the increasing influence of social media is catalyzing the demand for soft skills training programs. This, coupled with the rising awareness about the benefits of soft skills training programs, is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global soft skills training market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on soft skill type, channel provider, sourcing, delivery mode and end use industry.

Soft Skill Type Insights:

• Management and Leadership 
• Administration and Secretarial
• Communication and Productivity
• Personal Development
• Teamwork
• Others
   

The report has provided a detailed breakup and analysis of the soft skills training market based on the soft skill type. This includes management and leadership, administration and secretarial, communication and productivity, personal development, teamwork, and others. According to the report, communication and productivity represented the largest segment.

Channel Provider Insights:

• Corporate/Enterprise
• Academic/Education
• Government
   

A detailed breakup and analysis of the soft skills training market based on the channel provider has also been provided in the report. This includes corporate/enterprise, academic/education, and government. According to the report, corporate/enterprise accounted for the largest market share.

Sourcing Insights:

• In-house
• Outsourced
   

The report has provided a detailed breakup and analysis of the soft skills training market based on the sourcing. This includes in-house and outsourced. According to the report, outsourced represented the largest segment.

Delivery Mode Insights:

• Online
• Offline
   

A detailed breakup and analysis of the soft skills training market based on the delivery mode has also been provided in the report. This includes online and offline. According to the report, offline accounted for the largest market share.

End Use Industry Insights:

• BFSI
• Hospitality
• Healthcare
• Retail
• Media and Entertainment
• Others
   

The report has provided a detailed breakup and analysis of the soft skills training market based on the end use industry. This includes BFSI, hospitality, healthcare, retail, media and entertainment, and others. According to the report, BFSI represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for soft skills training. Some of the factors driving the North America soft skills training market included considerable working population, various government initiatives, integration of advanced technologies, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global soft skills training market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the soft skills training market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global soft skills training market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the soft skills training industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.