About Soft Skills Training
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 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. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Soft Skills Training market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 coverage are Coursera Inc (United States) and Wilson Learning Worldwide (Japan).
Segmentation Overview
AMA Research has 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.
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). If we see Market by End User Industry, the sub-segment i.e. BFSI will boost the Soft Skills Training market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Delivery Mode, the sub-segment i.e. Offline will boost the Soft Skills Training market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sourcing, the sub-segment i.e. In-house will boost the Soft Skills Training market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Soft Skill, the sub-segment i.e. Management & Leadership will boost the Soft Skills Training market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.