Soft Skills Training Market by End-user, Delivery Mode and Geography - Forecast and Analysis 2023-2027

Soft Skills Training Market Forecast 2023-2027

The soft skills training market is estimated to increase by USD 119.22 billion, growing at a CAGR of 34.62% between 2022 and 2027. The report includes historic market data from 2017 to 2021.

The global market is being driven by the emergence of economical corporate e-learning training modules. It 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 training to their staff.

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.

What will be the Size of the Soft Skills Training Market During the Forecast Period?

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Market Segmentation

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.

Regional Insight

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 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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By End-User

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.

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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 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.

Who are the Major Soft Skills Training Market Companies?

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 report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• 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.
• Pearson Plc

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.

Market Dynamics and Customer Landscape

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.

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.

Significant Market Trend

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.

Major Market Challenge

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.

Key Customer Landscape

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 Market Customer Landscape

Segment Overview

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. 

• End-user Outlook 
  • Corporate
  • Academic
• Delivery Mode Outlook
  • Offline
  • Online
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is experiencing significant growth driven by the increasing recognition of the importance of interpersonal attributes such as empathy, emotional intelligence, and cross-cultural communication in today's business landscape. Technological advancements have paved the way for innovative training methods, including virtual communication skills development and empathy training, catering to the evolving needs of remote work models and virtual work environments.

As businesses embrace globalization and automation, the demand for human skills like creativity, adaptability, and conflict-resolution strategies becomes crucial. Employers seek to equip their workforce with management and leadership capabilities, administration skills, and personal development opportunities offered by online training platforms like Skillsoft Corporation and Cloud Academy.

Cloud-based soft skill courses, leveraging video-based learning technology and artificial intelligence, are gaining traction, facilitated by high-speed internet access. Additionally, emerging technologies such as virtual reality and augmented reality are transforming the soft skills training landscape, providing immersive learning experiences.

Stakeholders across industries recognize the positive outcomes associated with investing in soft skills training, including enhanced employee productivity, competitive edge, and improved communication and productivity levels. With a focus on adaptability and a growth mindset, the ideal candidate for today's workforce is one equipped with a diverse set of soft skills, positioning the global cloud-based soft skills training market for continued growth and innovation.

In today's dynamic employment landscape, the Global soft skills training market plays a pivotal role in equipping individuals with essential competencies like self-discipline, cross-cultural competence, and conflict resolution strategies. Through comprehensive training programs, individuals learn effective communication techniques and administration skills, enhancing their employability.

The accessibility of high-speed internet enables seamless participation in online soft skills courses, leveraging algorithms to tailor learning experiences to individual needs. As organizations prioritize cross-cultural competence and conflict resolution, the demand for soft skills training continues to grow, reflecting the evolving needs of the modern workforce.

Soft Skills Training Market Scope
Report Coverage	Details
Page number	164
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 34.62%
Market growth 2023-2027	USD 119.22 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	32.26
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 35%
Key countries	US, Canada, Japan, Germany, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
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
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, Market condition analysis for forecast period
Customization purview	If our market research 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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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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