Global Soft Skill Management Market Expected To Grow At A CAGR Of 12.5% During The Forecast Period
The latest market report published by Brisk Insights “Soft skill Management Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the soft skill management market was valued at US$ 38,972.9 Mn in 2027 and expected to grow at a CAGR of 12.5% during the forecast period from 2019 to 2027.
“Rising number of training programs incorporated by industries for employee’s skill development drives the market”
Soft skills are becoming a crucial part of today’s world about 75% of the employees describe soft skills as the most important skill. The increasing investments by various large enterprises and companies in soft skill management in developing economies such as India and China is one of the key factors driving the soft skills management market. Additionally, with increasing digitalization and advancement in technology, consumers are now becoming more inclined towards using online mode to enhance their soft skills. Similarly, the enhancement of various training programs in schools, universities, management institutes, and corporates across the globe also increases the demand for soft skill management.
Rising demand for higher education empowers students to enroll in soft skills training programs. Moreover, the rising demand for soft skills across various organizations such as hospitality, banking, and others supports the growth of the market. Additionally, with rising penetration of smartphones and IoT further supports the growth of the market.
Top manufacturers of soft skill management are focusing to increase their portfolio by launching new programs in the market.
- In December 2019, enSYNC and D2L entered into a partnership agreement. The partnership aims to support learning programs for NGO’s in the U.S., UK, and Canada. Moreover, the development of a new technology solution helps nonprofit associations for software selection and provides learning programs.
Key Market Movements:
- Globally, the soft skill management market is rising at a CAGR of 12.5% for the estimated period from 2019 to 2027
- North America dominated the global soft skill management market in the year 2018 and expected to continue its dominance during the forecast period. The dominance supported by factors such as increased penetration and adoption of soft skill courses in the region.
- Asia-Pacific expected to be the fastest-growing region in the year 2018 and expected to grow with a significant market CAGR during the forecast period due to the development of the hospitality industry in the region. Additionally, the increasing investments in the region by various multi-national companies is one of the major factor driving the market.
- Based on the industry, the soft skills management market is subdivided into BFSI, manufacturing, hospitality, IT & telecom, education, retail, media & entertainment, and others. The BFSI expected to hold the largest market share as the finance and bank companies have to deal with customers, staff, and other individuals daily that require soft skills management.
- The hospitality industry expected to be the fastest-growing segment due to the rising number of hotels, restaurants, and other centers associated with hospitality that requires individuals with soft skills. Thereby, increases the demand for the soft skill management market.
- The delivery mode segment subdivided into offline and online mode. Offline mode is expected to hold the largest share in the overall soft skill management market and expected to continue its dominance during the forecast period.
List of Companies Covered:
- Skillsoft Corporation
- Tata Interactive Systems
- The Insights Group Ltd.
- Wilson Learning Worldwide
- Articulate Global, Inc.
- QA Ltd.
- Skill Key Interactive, LLC
- Cengage Learning, Inc.
- Computer Generated Solutions, Inc.
- D2L Corporation
- edX, Inc.
- Interaction Associates, Inc.
- New Horizons Worldwide, LLC.
- NIIT Limited
- Pearson PLC
Browse the full report at https://www.briskinsights.com/report/soft-skill-management-market
The Global Soft Skill Management Market is Segmented into:
By Type (2017–2027; US$ Mn)
By Providers (2017–2027; US$ Mn)
By Delivery Mode (2017–2027; US$ Mn)
By Industry Segment (2017–2027; US$ Mn)
By Geography (2017–2027; US$ Mn)
*Complete segmentation list is on the report page