Growing at 12.8% CAGR | Online Soft Skills Training Market Reach USD 24 Billion by 2032 Globally
The global online soft skills training market size was valued at USD 7.2 billion in 2022, and is projected to reach USD 24 billion by 2032, growing at a CAGR of 12.8% from 2023 to 2032.
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Driving Factors Online Soft Skills Training Market
The increasing demand for remote and hybrid work arrangements as well as the rising emphasis on effective cooperation and communication is boosting the growth of the online soft skills training market. However, challenges such as potential technological faults, connection concerns, and skepticism about the reliability of online soft skills training programs are factors restraining the market growth during the forecast period. On the other hand, the rising recognition of the critical role soft skills plays in the evolving workplace and the increasing investments in innovative technologies to enhance online training experiences are expected to unlock rewarding growth opportunities in the global online soft skills training market during the forecast period.
Market Segmentation Online Soft Skills Training Market
The online soft skills training industry report is segmented on the basis of type, company size, learner, application, and region. By type, the market is bifurcated into communication, teamwork, time management, problem-solving, creativity, leadership, and others. By company size, the market is classified into small companies, mid-sized companies, and large companies. By learner, the market is classified into male and female. By application, the market is classified into business services, science & engineering, finance & insurance, technology, marketing & advertising, healthcare, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The communication sub-segment dominated the market in 2022, holding a major share of 24.5%. This dominance is expected to continue till 2032, growing with a CAGR of 14.1%. This growth is mainly due to the growing recognition of the pivotal role effective communication plays in remote work environments, fostering effective leadership, and meeting the rising demand for clear and efficient communication skills in the evolving professional landscape.
The large companies sub-segment dominated the global online soft skills training market share in 2022, holding a major share of 40.4%. This sub-segment is expected to hold a leading market share of 39.8% by 2032. This growth is mainly because of the increasing awareness that employees with enhanced soft skills collaborate more efficiently, reducing misunderstandings and enhancing overall productivity in large corporate settings.
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The Asia-Pacific region dominated the global online soft skills training market in 2022, holding a major share of 35.7%. The dominance of this region is expected to continue by rising with a CAGR of 13.6% in the forecast period. This is mainly due to increasing demand for online soft skills training, rising flexibility offered by these programs, and the growing awareness of their cost-effectiveness in the region. Moreover, the region’s dynamic corporate environment and diverse workforce needs are key factors boosting the region’s dominance in the global online soft skills training market.
Key Players Online Soft Skills Training Market
Udemy,
Coursera,
LinkedIn Corporation,
edX LLC,
Skillsoft,
Pluralsight LLC,
HubSpot, Inc.,
Toastmasters International,
Franklin Covey Co., and
Harvard Extension School.
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