Global Soft Skills Training Market Indicates Notable CAGR growth by 2027| Busine

Posted by Fred Williams on March 26th, 2021

According to a new market report pertaining to the global soft skills training market published by Transparency Market Research, the global soft skills training market is projected to reach a value of US$ 38 Bn by 2027. The soft skills training market is projected to expand at a CAGR of ~12% from 2019 to 2027. Growth of the market can be attributed to the increased skill gap in developing countries, and availability of online training platforms.

Asia Pacific is anticipated to dominate the soft skills training market at a CAGR of ~13% during the forecast period. In terms of revenue share, the soft skills training market is dominated by North America, followed by Europe. In 2019, the corporate segment is estimated to be valued at ~US$ 7.7 Bn in the global soft skills training market, and see an opportunity of ~US$ 19 Bn in terms of revenue from 2019 to 2027, reflecting a CAGR of ~12% during the forecast period.

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MNCs are expanding their operations in developing economies due to the availability of low-cost resources. However, these businesses are struggling to find the talent required, and governments are seeing slowing innovation and economic growth. Soft skill trainers are trying to bridge these skill gaps by providing easy services through online and offline platforms. Soft skills provide overall personality improvement and help individuals handle global clients. The rising skill gap is one of the significant drivers of this market.