Enjoy complimentary customisation on priority with our Enterprise License!
The soft skills training market size is forecast to increase by USD 315.6 million at a CAGR of 50.98% between 2023 and 2028. The soft skills training market is experiencing significant growth due to the emergence of cost-effective e-learning modules and the expanding Small and Medium-sized Business (SMB) sector. E-learning provides an affordable and flexible solution for businesses to train their employees, leading to increased productivity and improved employee engagement. Simultaneously, the benefits of soft skills training, such as communication, teamwork, and problem-solving, are becoming increasingly recognized as essential for business success. The SMB sector, which accounts for a large portion of the global workforce, is recognizing the value of investing in soft skills training to remain competitive and attract top talent. As a result, the soft skills training market is poised for continued expansion, offering numerous opportunities for training providers and businesses alike.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Articulate Global Inc. - The company provides soft skills training options like Rise 360 and Articulate 360, which include authoring apps such as Storyline 360 and Rise 360. These apps enable the development of personalized, interactive, and fully responsive courses.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market research and growth and players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
APAC is projected to account for 56% of the global market share growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
View the Bestselling Market Report Instantly
Another region offering significant growth opportunities to vendors is North America. The market in the US is expected to record the fastest growth during the forecast period, owing to the rising demand for soft skills and their contribution to organizations in driving the productivity of employees. Non-technical training, which includes soft skills, involves training in intangible aspects. Non-technical courses focus primarily on training employees in workplace orientation, personal and interpersonal skills, leadership and motivational skills, and team building.
Based on end-user, the market is segmented into corporate and academic segments. The market share growth by the corporate segment will be significant during the forecast period. The global market in the corporate segment has the highest penetration and is expected to grow steadily during the forecast period.
Get a glance at the market contribution of various segments View PDF Sample
The corporate segment was valued at USD 8.60 billion in 2018. Organizations are increasingly recognizing the importance of soft skills at the workplace and are encouraging their employees to develop soft skills related to work ethics, attitude, negotiation, and problem-solving. Vendors in the market offer a range of blended, offline, and online courses that focus on aspects such as leadership, time management, teamwork, communication, critical thinking, and ownership. Several organizations incorporate mandatory training for non-technical courses for their employees to ensure strong interpersonal and organizational skill development. This has encouraged organizations to hire candidates with sound non-technical skills. Along with new employees, the existing employees at the mid-level and senior management levels are also trained in making effective managerial decisions, which facilitates business growth. Such factors are expected to drive the growth of the corporate segment of the market during the forecast period.
The market is experiencing significant growth driven by various factors and trends. With the rise of remote work models and virtual communication, there's an increasing demand to train in interpersonal attributes such as communication, empathy, and cross-cultural communication. Technological advancements have revolutionized the delivery of soft skills training, with online platforms and cloud-based courses making it more accessible, especially in developing countries where Skillsoft Corporation and other stakeholders offer comprehensive solutions. Additionally, the emphasis on adaptability, growth mindset, and critical thinking skills has become crucial for the ideal candidate in today's competitive job market. This has led to the expansion of the global cloud-based market, supported by innovations like video-based learning technology and artificial intelligence, further enhancing employee productivity and driving the overall growth of the industry.
The growth of the Soft Skills Training Market is significantly driven by the transition from traditional brick-and-mortar methods to more cost-effective e-learning solutions. Traditional approaches entail substantial expenses related to travel, facility charges, and printed materials, alongside time-consuming processes for assessments.
In contrast, e-learning leverages the accessibility of the internet to deliver digital content, significantly reducing overhead costs. This shift not only saves valuable employee time but also streamlines the storage, maintenance, and updating of training materials. As organizations seek more affordable and efficient solutions, the adoption of e-learning technologies is expected to propel market growth during the forecast period, particularly benefiting developing countries and online platforms.
Gamification of content is the primary trend in the global market. Game culture has become an integral part in a business scenario. It is a type in which trainees are trained in various aspects such as communication, critical thinking, and others. The industry is expected to grow at a steady rate, with corporates showing immense interest in gamification. The gamification industry has found significant traction in the business scenario as a useful training and motivational tool.
Businesses have embraced gamification to design incentivized programs, with increasing emphasis on digital badges, rewards, and leaderboards that help businesses engage in the process with a mobile component. Gamification takes the essence of gaming and applies it to real-time processes in organizations. This will help organizations train their employees and increase their efficiency. Gamification drives higher business performance among employees and helps them build leadership skills. Such factors will increase the market growth during the forecast period.
The limited demand from developing economies is a major challenge to global market growth. Online education is mostly preferred in developed countries. However, their penetration in developing countries, especially in tier-2 and tier-3 cities, is low. Developing countries also face other challenges such as the lack of suitable infrastructure and proper Internet facilities and a shortage of good teachers who can properly impart valuable education to students.
Price consciousness among people in developing countries is a major challenge restricting the adoption of various technically advanced products, such as laptops and smartphones, which act as a medium for accessing online courses. The lack of proper awareness regarding the availability of various online courses in several countries in South America and APAC also impedes the growth of the global market.
The market development analysis report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
In today's rapidly evolving business landscape, soft skills like emotional intelligence, empathy training, and creativity are gaining increasing importance. As businesses navigate through the challenges of automation and virtual work environments, human skills such as virtual communication skills and self-discipline become crucial. The market is witnessing significant growth, driven by the demand for cross-cultural competence and conflict resolution strategies. Employers are increasingly investing in online training platforms and cloud-based soft skill courses to equip their workforce with the necessary competencies. Cloud Academy offers a comprehensive range of courses, leveraging high-speed internet and cutting-edge technologies like virtual reality and augmented reality to enhance learning experiences and provide a competitive edge in the employment landscape.
In the contemporary workplace, soft skills training plays a pivotal role in fostering management and leadership, administration and secretarial abilities, and personal development. With the rise of the virtual work environment, effective communication and productivity become paramount. Leveraging communication techniques and adapting to a digital landscape powered by high-speed internet, organizations aim for positive outcomes through enhanced algorithms and efficient workflows. As the demand for adaptable professionals grows, investing in soft skills training becomes indispensable for success in today's dynamic and interconnected world.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 50.98% |
Market Growth 2024-2028 |
USD 315.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
36.44 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 56% |
Key countries |
US, Germany, UK, Canada, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Delivery Mode
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.