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Soft Skills Management Market

Soft Skills Management Market
Soft Skills Management Market Expected to Reach US$ 33,736.1 Mn by 2026
According to a new market report published by Transparency Market Research,
the global soft skills management market was valued at US$ 11,289.7 Mn in 2016
and is expected to expand at a CAGR of 11.9% from 2018 to 2026, reaching US$
33,736.1 Mn by the end of the forecast period. According to the report, the global
soft skills management market will continue to be influenced by a range of
macroeconomic and industry-specific factors. Asia Pacific will continue to be at the
forefront of global demand, with the market in the region growing at a CAGR of
about 12.6% throughout the forecast period.
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Increasing demand for higher education continues to drive the market
The global soft skills management market is majorly driven due to rising awareness
and adoption of skill development training programs. Improved development rates in
secondary and primary schools is also one of the major factors resulting in increasing
demand for higher education. As more students complete cycles of secondary
education, they look forward to higher education to prepare themselves for new
professions and life opportunities. Growing number of enrolments for higher
education indicates growth in number of graduates that are ready to join the
workforce of the economy. These graduates/post graduates are expected to master the
soft skills suitable for the job role the recruiter is looking for. This compels students
to enroll themselves in soft skills training programs, thus supporting the growth of
the market. As the number of students passing out each year is expected to increase,
it is estimated that the market will expand at a significant pace. However, the global
soft skills management market is challenged mainly by the fact that there is lack of
awareness of soft skill development training courses, especially online asynchronous
courses, in the under developed countries and in some economies of the developing
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Soft Skills Management Market: Scope of the Report
The report offers detailed segmentation based on the soft skill type, delivery mode,
end-use industry, and provider. During the initial years, the offline market will
dominate the market. However, due to key benefits such as flexibility and scalability,
the online market is expected to contribute significantly during the forecast period.
On the basis of soft skill type, the market is segmented into Management &
Leadership, Administration & Secretarial, Communication & Productivity, Personal
Development and others. There are various soft skills which recruiters seek in a
candidate while recruiting. However, these skills develop over a period of time in a
candidate. Communication & productivity courses refine both oral & written
communication and also nurtures the related skills. In terms of end-use industry, IT
& Telecom experiences huge demand for employees who are well trained and aware
of soft skills. According to 60% of IT leaders, IT skill gap severely or moderately
impacts the team or organization. Furthermore, the software industry recruits the
most millennial who are required to go through soft skills training courses to improve
their overall work quality.
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