Soft Skills Training Market Scope
The rise in the number of graduates and the need to bridge the skill gap will induce educational institutions to adopt advanced training methods to enhance student skills. Increasing the focus of corporate industries towards expanding their business operations to emerging economies and to train employees to ensure smooth interaction and effective knowledge transfer will boost the demand for soft skills training. The availability of an online soft skills training platform further propelling the market growth.
According to AMA, the Global Soft Skills Training market is expected to see growth rate of 12.8%Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Soft Skills Training market throughout the predicted period.
Skillsoft (United States), VitalSmarts, L.C. (United States), Articulate (United States), Computer Generated Solutions (United States), Desire2Learn (Canada), Global Training Solutions (Ireland), Interaction Associates (United States), New Horizons Computer Learning Centers (United States), NIIT (India) and Pearson (England) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Coursera Inc (United States) and Wilson Learning Worldwide (Japan).
Segmentation Overview
The study have segmented the market of Global Soft Skills Training market , by Application (Corporate/Enterprise (Employee Development Programs, Private Training Institutions), Academic/Education (School, Universities & Colleges) and Government) and Region with country level break-up.
On the basis of geography, the market of Soft Skills Training has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Upsurging Demand for Cloud-based Soft Skill Training Courses and Increasing Adoption of Technology-enabled Teaching and Training Techniques
Market Growth Drivers:
Growing Focus on Employee Skill and Performance Enhancement to Boost Productivity and Rising Availability of Soft Skills Training through Online Platforms
Challenges:
Lack of Awareness among the Population regarding the Importance of Soft Skills Training and Dependence on Collaboration Tools
Restraints:
Budgetary Concerns for Small and Medium Scale Enterprises
Opportunities:
Increasing Government Programs and Initiatives, Penetration of Mobile and Internet Learning and Growing Demand in the Corporate Sector
In Aug 2020, IBM announced its collaboration with National Skill Development Corporation (NSDC) to offer ‘Open P-TECH’, a free digital education platform, focused on emerging technologies and professional development skills. As a part of the collaboration, IBM will curate online courses from the Open P-TECH platform and offer it to users via NSDC’s eSkill India portal to empower Indian youth on various skills to succeed in future careers.
Key Target Audience
Soft Skills Training Service Providers, Soft Skills Training Software Developers, Technology Distributors, Industry Association, Government Regulatory Bodies, Research Institutes, Potential Investors, Private Regulatory Bodies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.