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The soft skills training market is estimated to grow at a CAGR of 34.62% between 2022 and 2027 and the size of the market is forecast to increase by USD 119.22 billion. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by end-user including corporate and academic segments. The geographical landscape includes North America, Europe, APAC, South America, and Middle East and Africa. The report also includes an in-depth analysis of drivers, trends, and challenges.
The global soft skills training market is being driven by the emergence of economical corporate e-learning training modules. Soft skills training is a significant expense for organizations, particularly those with a global presence. The productivity of a company relies heavily on the effective training of new employees in soft skills. To address this, organizations are adopting innovative and cost-effective ways of providing soft skills training to their staff.
Traditional training methods in brick-and-mortar settings involve high costs, including travel expenses, employee and trainer time, and facility charges. Additionally, expenses are incurred in printing instruction materials and assessing papers. Conversely, e-learning makes use of the internet to provide access to digital content, reducing costs associated with traditional methods. This transition to e-learning not only saves employee working hours but also improves the storage, maintenance, and updating of information. During the forecast period, the growth of the global soft skills training market is expected to be fueled by the adoption of affordable and efficient e-learning solutions and technologies, which are less expensive than traditional methods.
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Vendors 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 report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
North America is projected to account for 35% 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.
The soft skills training 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.
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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 soft skills training market in the corporate segment has the highest penetration and is expected to grow steadily during the forecast period.
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The corporate segment was valued at USD 7.77 billion in 2017 and continued to grow by 2021. 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 soft skills training 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 soft skills training market during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Gamification of content is the primary trend in the global soft skills training market. Game culture has become an integral part of training in a business scenario. Soft skills training is a type of training in which trainees are trained in various aspects such as communication, critical thinking, and others. The soft skills training industry is expected to grow at a steady rate, with corporates showing immense interest in gamification of training. 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 in engaging in training 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 the global soft skills training 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 soft skills training market.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Soft Skills Training Market Customer Landscape
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for North America. However, in 2021, the lifting of lockdowns and the initiation of large-scale vaccination drives resulted in the removal of the lockdown and the resumption of business operations. Hence, companies will provide offline training to existing and new employees, which, in turn, will drive the growth of the regional soft skills training market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Soft Skills Training Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 34.62% |
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Market growth 2023-2027 |
$ 119.22 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
32.26 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Canada, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Articulate Global Inc., Computer Generated Solutions Inc., CoreAxis, Coursera Inc., Crucial Learning, D2L Corp., 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, SGS SA, Skillsoft Corp., Udacity Inc., Udemy Inc., Wilson Learning Worldwide Inc., and Pearson Plc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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