Online Soft Skills Training Market Expected to Reach $24 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Online Soft Skills Training Market," The online soft skills training market size was valued at $7.2 billion in 2022, and is estimated to reach $24 billion by 2032, growing at a CAGR of 12.8% from 2023 to 2032. The use of digital platforms and resources to transmit and improve non-technical skills necessary for successful interpersonal communication, teamwork, and overall workplace performance is referred to as online soft skills training. Online soft skills programs, as compared to traditional classroom-based training, provide flexibility, scalability, and accessibility, adapting to the different demands of a global workforce. This contemporary method makes use of technology to offer dynamic and engaging information, giving learners practical skills and techniques for overcoming the difficulties of today's work world. By offering a variety of interactive and adaptive courses, the online environment has transformed the traditional approach to soft skills training.

Businesses operate on a global scale in a technologically connected world, requiring people to interact across regional borders. Online training platforms offer a simple and accessible way for people of all backgrounds to improve their soft skills without being constrained by time or place. This adaptability is especially important for professionals who manage many tasks since they may participate in training sessions at their own pace and convenience.

Another driving element behind the popularity of online soft skill training is the dynamic nature of the modern workplace, which is characterized by fast technological breakthroughs and industry changes. Online platforms swiftly update their curriculum to reflect the most recent industry trends and insights, ensuring that learners obtain recent soft skill training. This adaptability is critical in preparing individuals for the difficulties that the ever-changing work context presents. These factors are anticipated to have a positive impact on the online soft skills training market forecast.

Online soft skills training industry frequently lacks the instant human connection that traditional classroom settings provide. Virtual environments may not adequately capture nonverbal cues, affecting learning and practice of soft skills such as active listening and empathy. Not everyone has equal access to high-speed Internet and the essential gear for efficient online learning. Technical concerns such as network challenges, hardware limits, or software errors can interrupt the learning experience, impacting participation and understanding.

Personalized feedback to individual learning styles and requirements may be difficult to deliver on online platforms. The lack of real-time feedback and engagement with instructors can hinder soft skill development since learners may miss key insights and adjustments. Some online soft skill training programs may struggle to bridge the theoretical and practical divide. Online platforms may limit practical scenarios and actual learning, which are critical for soft skill development.

Learners may access training courses at their own speed and schedule, removing geographical and temporal constraints. This convenience is especially beneficial for working people who may find it difficult to attend traditional in-person training sessions. Asynchronous learning, in which participants may interact with the information at any moment, enables a personalized and adaptable approach that caters to a variety of learning styles.

Furthermore, the worldwide accessibility of online soft skill training represents a considerable potential. Individuals from all over the world may connect and participate in a shared learning experience, creating cultural variety and a vibrant exchange of viewpoints. This worldwide reach also benefits organizations with multinational teams by allowing them to give uniform training across borders, assuring a standardized set of soft skills throughout their staff. These factors are anticipated to boos the online soft skills training market share in the coming years.

The online soft skills training market analysis is segmented on the basis of type, company size, learner, application, and region. By type, the market is divided 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 divided 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 Latin America.

The key players profiled in the online soft skills training industry report include Udemy, Coursera, LinkedIn Corporation, edX LLC, Skillsoft, Pluralsight LLC, HubSpot, Inc., Toastmasters International, Franklin Covey Co., and Harvard Extension School.

The report offers a comprehensive analysis of the global online soft skills training market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Online Soft Skills Training Market

• The COVID-19 pandemic's impact on online soft skills training is significant in terms of increased access to professional development opportunities. Physical barriers were removed, allowing individuals worldwide to attend high-quality training programs from the comfort of their own homes.
• This liberalization not only increased the scope of soft skills training but also promoted inclusion by allowing people from all backgrounds to participate in formerly geographically restricted skill-building activities.
• Furthermore, the pandemic influenced people's ideas regarding soft skills. Soft skills, long thought to be secondary to technical competence, have emerged as critical differentiators in the remote work environment.

Key Findings of the Study

• Based on type, the communication sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
• Based on company size, the large companies sub-segment emerged as the global leader in 2022 and the small companies segment is predicted to show the fastest growth in the upcoming years.
• Based on learner, the male sub-segment emerged as the global leader in 2022 and the female sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on application, the business services sub-segment emerged as the global leader in 2022 and the marketing & advertising sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to maintain its position during the forecast period.