Global Soft Skills Training Market: Overview
According to a new market report pertaining to the global soft skills training market published by Transparency Market Research, the global soft skills training market is projected to reach a value of US$ 38 Bn by 2027. The soft skills training market is projected to expand at a CAGR of ~12% from 2019 to 2027. Growth of the market can be attributed to the increased skill gap in developing countries, and availability of online training platforms.
Asia Pacific is anticipated to dominate the soft skills training market at a CAGR of ~13% during the forecast period. In terms of revenue share, the soft skills training market is dominated by North America, followed by Europe. In 2019, the corporate segment is estimated to be valued at ~US$ 7.7 Bn in the global soft skills training market, and see an opportunity of ~US$ 19 Bn in terms of revenue from 2019 to 2027, reflecting a CAGR of ~12% during the forecast period.
Increased Skill Gap in Developing Countries Promotes Market Growth
MNCs are expanding their operations in developing economies due to the availability of low-cost resources. However, these businesses are struggling to find the talent required, and governments are seeing slowing innovation and economic growth. Soft skill trainers are trying to bridge these skill gaps by providing easy services through online and offline platforms. Soft skills provide overall personality improvement and help individuals handle global clients. The rising skill gap is one of the significant drivers of this market.
Soft Skills Training Market: Regional Outlook
In terms of region, the global soft skills training market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. Asia Pacific is expected to see increasing growth in the soft skills training market with increased investments in India, Singapore, and other major markets in the region. The soft skills training markets in North America and Europe are also expected to expand rapidly during the forecast period.
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The report provides in-depth segment analysis of the global soft skills training market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries that hold growth opportunities or account for significant shares has also been included as part of the geographic analysis of the soft skills training market.
Soft Skills Training Market: Competition Dynamics
The research study includes the profiles of leading companies operating in the global soft skills training market. Key players profiled in the soft skills training market report include edX, Inc., Pearson PLC, NIIT Limited, The Insights Group Ltd, Tata Interactive Systems, Skillsoft Corporation, D2L Corporation, Articulate Global, Inc., QA Ltd., New Horizons Worldwide, LLC, and Computer Generated Solutions, Inc.
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