NEW YORK, June 24, 2024 /PRNewswire/ — The global soft skills training market size is estimated to grow by USD 315.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 50.98% during the forecast period. The emergence of cost-effective E-learning training modules is driving market growth, with a trend towards gamification of content. However, limited demand from developing economies poses a challenge. Key market players include Articulate Global Inc., Computer Generated Solutions Inc., CoreAxis, Coursera Inc., Crucial Learning, D2L Inc., edX LLC, Global Training Solutions Inc., GoSkills Ltd., Health and Safety Institute Inc., Interaction Associates Inc., MPS Ltd., New Horizons Computer Learning Centers Inc., NIIT Ltd., Pearson Plc, SGS SA, Skillsoft Corp., Udacity Inc., Udemy Inc., and Wilson Learning Worldwide Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
End-user (Corporate and Academic), Delivery Mode (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
Region Covered
North America, Europe, APAC, South America, and Middle East and Africa
Key companies profiled
Articulate Global Inc., Computer Generated Solutions Inc., CoreAxis, Coursera Inc., Crucial Learning, D2L Inc., edX LLC, Global Training Solutions Inc., GoSkills Ltd., Health and Safety Institute Inc., Interaction Associates Inc., MPS Ltd., New Horizons Computer Learning Centers Inc., NIIT Ltd., Pearson Plc, SGS SA, Skillsoft Corp., Udacity Inc., Udemy Inc., and Wilson Learning Worldwide Inc.
Key Market Trends Fueling Growth
The soft skills training market is experiencing notable growth due to the integration of gamification in corporate training. Businesses are leveraging digital badges, rewards, and leaderboards to motivate employees and enhance their communication and critical thinking skills. Gamification’s mobile component increases training engagement, leading to improved business performance and leadership development. While instructor-led training was once popular, online game-based learning offers more efficient and effective soft skills training.
The market for soft skills training is thriving, with companies seeking to improve communication, teamwork, and problem-solving abilities among their workforce. Emotional intelligence, critical thinking, and adaptability are trending skills in today’s business environment. The use of technology, such as virtual training and e-learning platforms, has made it easier for organizations to provide these trainings to their employees. Productivity and employee engagement are key benefits of soft skills training. Additionally, companies are focusing on leadership and management skills to create a strong work culture. Overall, the demand for soft skills training is increasing as businesses recognize the importance of these skills in driving success.
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Market Challenges
• In the global soft skills training market, penetration in developing countries, particularly in tier-2 and tier-3 cities, is limited due to infrastructure issues, insufficient Internet facilities, and a shortage of qualified teachers. Price consciousness is a significant barrier to adopting online education, including laptops and smartphones required for access. Awareness of available online courses is lacking in several South American and APAC countries. China and India are forecasted to lead online education growth in APAC, but other developing nations face infrastructure and awareness challenges. To expand market reach, emphasis should be placed on creating awareness, highlighting convenience and added benefits.
• The soft skills training market faces several challenges. Companies require employees with strong communication skills, such as active listening and effective speaking. However, finding candidates with these abilities can be difficult. Additionally, the need for adaptability and teamwork is crucial in today’s business environment. Yet, many individuals lack these skills. Furthermore, the use of technology in the workplace demands proficiency in areas like computer literacy and problem-solving. Addressing these challenges requires innovative training methods and continuous learning opportunities. Employers must invest in comprehensive soft skills development programs to ensure a workforce that can thrive in the modern business landscape.
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Segment Overview
This soft skills training market report extensively covers market segmentation by
End-user 1.1 Corporate1.2 AcademicDelivery Mode2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Corporate- The corporate segment of the global soft skills training market is experiencing significant growth due to increasing awareness of the importance of soft skills in the workplace. Senior managers and HR in large enterprises prioritize soft skills training to enhance operational efficiencies and identify workforce trends. Vendors offering specialized soft skills training, including leadership and communication courses, hold a strong market position. SMBs focus more on technical training, but organizations value soft skills for strong interpersonal and organizational development. Mandatory non-technical training and managerial decision-making courses further drive market growth.
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Research Analysis
The Soft Skills Training Market encompasses a range of essential skills for enhancing interpersonal attributes, communication, empathy, time management, emotional intelligence, cross-cultural communication, and creativity. These human skills are increasingly vital in today’s workforce, particularly in the context of remote work models and virtual communication. Self-discipline, adaptability, and a growth mindset are essential components of this training, enabling employees to maximize their productivity through online courses and video-based learning technology. High-speed internet and artificial intelligence are integral to delivering effective training experiences in this domain.
Market Research Overview
The Soft Skills Training Market encompasses various essential skills required for professional growth and personal development. These skills include communication, teamwork, problem-solving, adaptability, time management, and emotional intelligence. The market offers a wide range of training programs designed to enhance these skills through workshops, seminars, online courses, and coaching sessions. Employers increasingly prioritize soft skills in their hiring processes, recognizing their importance in fostering a productive and collaborative work environment. The market caters to diverse industries and sectors, with continuous innovation in training methodologies and delivery formats to cater to evolving workforce needs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-userCorporateAcademicDelivery ModeOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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