What Has Been the Growth Trajectory of the Soft Skills Management Market?
The soft skills management market has seen considerable growth due to a variety of factors.
• The market size for soft skills management has experienced significant growth in recent times, expanding from $31.14 billion in 2024 to an anticipated $36.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.7%.
This upward trend in the historical period can be tied to the increased need for a proficient workforce, surge in educational institutions, heightened focus on managing the remote workforce, growing consciousness about employee wellness and mental health, and improved cooperative efforts among corporations.
What Does the Future Hold for the Soft Skills Management Market?
The soft skills management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of soft skills management is poised to experience a significant increase in the ensuing years, ballooning to $66.78 billion by 2029, with a compound annual growth rate (CAGR) of 16.4%.
The surge in this forecast period can be credited to a mounting focus on promoting a proficient workforce, escalating globalization, an expanding young demographic, a rise in government funding, and a widespread acceptance of electronic learning platforms. Notable trends expected during this forecast period encompass technological progression, the fusion of artificial intelligence (AI) and machine learning, the application of virtual and augmented reality for simulations, advancements in skill evaluation tools, and new product developments.
What Are The Key Drivers Fueling Growth In The Soft Skills Management Market?
The soft skills management market is predicted to grow due to the mounting importance placed on managing remote workforces. This type of management involves the tactics, methodologies, and resources utilized to manage and guide employees working from non-traditional office locations, such as homes, shared workspaces, or other distant locales. Convenience and cost-efficiency are powering the surge in remote workforce management. The role of soft skills management in this scenario is to aid remote teams in effective communication, collaboration, and embrace change, thereby magnifying overall team cooperation and efficiency. Citing an example, the Switzerland-based non-profit organization, the World Economic Forum, projected in January 2024 that approximately 92 million global digital jobs would be filled remotely by 2030, reflecting a rise of about 25%. In light of these factors, the mounting importance of remote workforce management is fuelling the soft skills management market.
What Are The Primary Segments In The Global Soft Skills Management Market?
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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Which Key Trends Are Driving Changes In The Soft Skills Management Market?
Leading enterprises in the soft skills management market are striving to innovate initiatives to boost staff engagement, hasten the process of acquiring skills, and create tangible enhancements in on-the-job performance. Revolutionary initiatives such as Elevate Edge provide a digital solution encompassing flexible learning avenues, inclusive of online modules, physical workshops, and a combination of both methods, making it applicable for an extensive range of professionals. For example, in August 2023, edForce, a workforce accelerator company based in India, unveiled a pioneering initiative known as ElevateEdge. This was formulated to rectify the stark inconsistency between the demand and supply of soft skills in the Indian IT sector. The program delivers a comprehensive approach to the cultivation of soft skills, equipping individuals and companies with the tools to adeptly navigate the ever-changing corporate terrain. The program meets the upskilling needs of multiple sectors, with a particular emphasis on specific areas.
Who Are the Key Players in the Soft Skills Management Market?
Major companies operating in the soft skills management market are include:
•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 Is The Most Dominant 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.
