Soft Skills Training Market Size To Touch USD 66,075 Million By 2030

Soft Skills Training Market Size in 2021 was USD 24,142 million, Market Value set to reach USD 66,075 million at 12.2% CAGR by 2030

Soft Skills Training Market Research Report Highlights and Statistics

● The global soft skills training market size in 2021 stood at USD 24,142 million and is set to reach USD 66,075 million by 2030, growing at a CAGR of 12.2%
● The increasing demand for soft skills training is driven by the need for organizations to have a skilled workforce that can evolve with the ever-changing business environment.
● The market is segmented by end-user, offering, and geography.
● North America is expected to have the largest soft skills training market share, followed by Europe and Asia-Pacific.
● The market is quite competitive, with a large number of players offering training programs, including large consulting firms, specialized training companies, and educational institutions. Some of the key players in the market include Dale Carnegie Training, FranklinCovey, Korn Ferry, and Skillsoft.
● The advent of new technologies such as VR and gamification is expected to drive the growth of the soft skills training market size in the future, as they can be used to enhance the effectiveness of soft skills training.

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Soft Skills Training Market Overview

Soft skills training can be defined as the development and enhancement of non-technical abilities and interpersonal attributes essential for effective communication, collaboration, and problem-solving in the workplace. These skills include, but are not limited to, emotional intelligence, time management, teamwork, negotiation, and conflict resolution.

Soft skills training market share is driven by the increasing demand for highly skilled professionals who possess not only technical expertise but also the ability to effectively communicate, collaborate, and lead within their organizations. This is particularly relevant in today's fast-paced and constantly evolving business landscape, where the ability to adapt to change and navigate complex interpersonal dynamics is becoming increasingly important.

The training process involves the use of various methodologies such as role-playing, simulations, and case studies to provide participants with hands-on experience and opportunities to apply the learned skills in real-world scenarios. These activities are designed to simulate real-life situations and provide participants with the opportunity to practice and improve their skills.

Additionally, soft skills training often incorporates Neuro Linguistic Programming (NLP) and Cognitive-Behavioral Therapy (CBT) techniques, which aim to enhance communication and interpersonal skills by understanding and utilizing the unconscious mind. cognitive-behavioral therapy (CBT) techniques help participants identify and change negative thought patterns and behaviors that may impede their ability to effectively communicate and collaborate with others.

Trends in the Soft Skills Training Market

● Virtual and online training: With the rise of remote work and online learning, virtual and online training is becoming increasingly popular, allowing individuals and organizations to access training from anywhere and at any time.
● Adoption of VR and Gamification: The use of gaming elements, such as leaderboards and rewards, in training programs is becoming increasingly popular as it makes the learning experience more engaging and interactive. VR is also a trending technology in the soft skill training market.
● Artificial intelligence and machine learning: These technologies are being used to personalize training and provide real-time feedback, making the learning experience more effective and efficient.
● Microlearning: The trend of delivering training in small, bite-sized chunks, rather than in long, traditional courses, is becoming more popular as it allows individuals to learn at their own pace and retain information better.
● Blended learning: The combination of online and in-person training is becoming more common, as it allows organizations to offer a mix of self-paced and interactive learning experiences.
● Increasing adoption of mobile learning: The use of mobile devices for learning and training is becoming more popular, as it allows individuals to access training on-the-go and in real-time.

Soft Skills Training Market Dynamics

● The rapidly changing business environment: The increasing pace of technological change and globalization has made it more important than ever for individuals and organizations to be able to adapt to new situations and navigate complex interpersonal dynamics.
● The growing importance of soft skills in the workplace: Organizations are recognizing the importance of soft skills, such as communication, teamwork, and leadership, in achieving success in today's business environment.
● The rise of remote work: The increasing prevalence of remote work has made it more important than ever for individuals to be able to communicate and collaborate effectively with their colleagues, regardless of location.
● The growing importance of emotional intelligence: The ability to understand and manage emotions is becoming increasingly important in the workplace, as it is crucial for effective communication, teamwork, and leadership.
● The growing demand for soft skills training in specific industries: There is a growing demand for soft skills training in specific industries, such as healthcare and finance, as these industries are becoming increasingly complex and require highly skilled professionals.
● The increasing focus on sustainability and corporate social responsibility: Organizations are becoming more conscious of the impact their business has on the environment and society, and are investing in soft skills training programs to help employees understand and implement sustainable practices.

Growth Hampering Factors

● Lack of budget allocation and limited participation: Organizations may not have the budget to invest in soft skills training. Additionally, some employees may not be willing to participate in soft skills training, which can be a growth hampering factor for the market.
● Limited awareness of the importance of soft skills and limited access to training resources: Some organizations may not fully understand the importance of soft skills training and may not see the value in investing in it, that said some organizations in certain regions may not have access to the resources needed for soft skills training such as internet connectivity or trainers.
● Limited effectiveness of traditional training methods and limited adoption of new technologies: Traditional training methods, such as classroom-based training, may not be as effective as newer, more interactive methods The slow adoption of new technologies, such as virtual reality and gamification, in soft skills training can limit the effectiveness of training and hamper the growth of the market.
● Limited measurement of the impact of training: The impact of soft skills training may be difficult to measure, which can make it difficult for organizations to justify the investment in training.
● Limited focus on soft skills in specific industries: Soft skills training programs may not be tailored to specific industries, which can make them less relevant and less effective for certain organizations.

Market Segmentation

The soft skills training market can be segmented based on several factors, including

● End-user: The market can be segmented into three main end-users: individuals, small and medium-sized enterprises, and large enterprises.

● Offering:
○ Training and development: programs that are designed to enhance specific soft skills, such as communication and teamwork
○ Assessment and benchmarking: tools and methods that are used to assess the soft skills of employees and compare them to industry standards
○ Consulting: services that are designed to help organizations develop and implement soft skills training programs.

● Industry: Each industry has its own unique needs, and training programs are tailored to meet those needs, different industries include healthcare, finance, technology etc

● Delivery Method: In-person, online, and blended learning.

● Training Type: Training types including leadership, communication, teamwork, problem-solving, decision-making, time management, and emotional intelligence.

Soft Skills Training Market Key Players

Some of the key players in the market include Dale Carnegie Training, FranklinCovey, Korn Ferry, Skillsoft, Pearson Education, The Leadership Institute, The Training Associates, The Ken Blanchard Companies, VitalSmarts, Achieve Global, American Management Association (AMA), IESE Business School, Hemsley Fraser, Vital Learning, Zenger Folkman, The John Maxwell Company, AchieveForum, Inscape Publishing, The Institute for Health and Human Potential, Corporate Education Group, Training Industry, Inc., Talentsoft, GP Strategies, HCL Technologies, Infosys, Tata Consultancy Services, WNS Global Services, Cegos Group, Prodigy Learning, Achievers, Mind Gym, and Wilson Learning.
These players offer a wide range of training programs and services aimed at developing and enhancing the non-technical or "soft" skills of individuals and organizations. Each player has its own unique offering and approach to training, making it important for organizations to carefully evaluate their options and select the provider that best meets their needs..

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