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Major Force in the Soft Skills Management Market 2025: Growing Remote Work Boosts Demand For Soft Skills Management
How Will the Soft Skills Management Market Grow, and What Is the Projected Market Size?The market size of soft skills management has seen a speedy expansion in the last few years. Its growth is projected to escalate from $31.14 billion in 2024 to $36.34 billion in 2025, experiencing a compound annual growth rate (CAGR) of 16.7%. The historic growth can be credited to the increased demand for a highly trained workforce, a rise in the number of educational establishments, heightening focus on managing remote workforce, growing awareness around employee health and well-being, and the surge in collaborations between corporate entities.
The market size of soft skills management is forecasted to experience a swift expansion in the following years, escalating to $66.78 billion in 2029 with a compound annual growth rate (CAGR) of 16.4%. The anticipated growth during the projected period is a result of increased focus on creating a proficient workforce, heightened globalization, a burgeoning young population, rising governmental funding, and a surge in e-learning platform utilization. Key trends projected for this period involve technological progression, the incorporation of artificial intelligence (AI) and machine learning, virtual and augmented reality simulations, advancements in skill evaluation instruments, and product innovation.
What Key Elements Are Boosting Growth in the Soft Skills Management Market?
The growing focus on managing remote workforces is predicted to boost the soft skills management market's expansion in the future. Remote workforce management involves the application of strategies, processes, and tools to manage and coordinate workers in locations other than a central office, such as home, shared workspaces, or other remote environments. The push for more flexible work arrangements and cost reductions is fuelling the rise in remote workforce management. Soft skills management improves clear communication, effective collaboration, and adaptability amongst remote teams, thereby heightening overall productivity and cohesiveness. As an example, the World Economic Forum, a non-profit organization based in Switzerland, forecasted in January 2024 that the count of global digital jobs that can be executed remotely from anywhere is anticipated to increase by roughly 25% to approximately 92 million by 2030. Hence, the growing focus on remote workforce management propels the soft skills management market.
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Who Are the Major Industry Players Fueling Soft Skills Management Market Expansion?
Major companies operating in the soft skills management market are Dale Carnegie & Associates Inc., Skillsoft Corporation, HubSpot Inc., Udemy Inc., Coursera Inc., MPS Interactive Systems Limited, Franklin Covey Co., Pluralsight LLC, Articulate Global LLC, The Ken Blanchard Companies, RedVector Inc., Toastmasters International Inc., LearnUpon Limited, BizLibrary, edX LLC, Xyleme Inc., NIIT Limited, New Horizons Worldwide Inc., City & Guilds Group, Cegos Ltd., Pearson India Education Services Private Limited, iSpring Solutions Inc., Gnowbe
What Are the Latest Innovations in the Soft Skills Management Market?
Prominent companies in the soft skills management market are striving to launch innovative strategies to increase employee involvement, hasten the grasping of skills, and bring about tangible enhancements in work performance. Innovative strategies like Elevate Edge make available a digital solution providing adaptable learning routes, comprising online modules, in-person sessions, and mixed learning methods, opening the doors for a broad spectrum of professionals. For example, in August 2023, edForce, a workforce accelerator firm based in India, initiated a revolutionary strategy named ElevateEdge. It is intended to fill the critical gap between the need and supply of soft skills in India's IT industry. This agenda fuels a comprehensive approach towards the development of soft skills, enabling individuals and organizations to adeptly navigate the ever-changing corporate environment. It caters to a vast range of re-skilling prerequisites across varying sectors, emphasizing certain areas.
How Is the Segmentation of the Soft Skills Management Market Defined?
The soft skills management market covered in this report is segmented -
1) By Soft Skill Type: Management And Leadership; Administration And Secretarial; Communication And Productivity; Personal Development; Other Soft Skills Types
2) By Sourcing: In-House; Outsourced
3) By Delivery Mode: Regular And Offline; Online
4) By Provider: Corporate And Enterprise; Academic And Education
5) By End-User: Banking, Financial Services And Insurance (BFSI); Manufacturing; Hospitality; Information Technology (IT) And Telecom; Education; Retail; Media And Entertainment; Other End-Users
Subsegments:
1) By Management And Leadership: Team Management; Strategic Planning; Conflict Resolution
2) By Administration And Secretarial: Organizational Skills; Time Management; Office Management
3) By Communication And Productivity: Effective Communication; Presentation Skills; Negotiation Skills
4) By Personal Development: Emotional Intelligence; Critical Thinking; Adaptability And Resilience
5) By Other Soft Skills Types: Customer Service Skills; Cultural Competence; Networking And Relationship Building
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What Is the Leading Region in the Soft Skills Management Market?
North America was the largest region in the soft skills management market in 2024. The regions covered in the soft skills management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Soft Skills Management Global Market Report?
- Market Size Analysis: Analyze the soft skills management Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the soft skills management Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall soft skills management market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the soft skills management market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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