Soft skills training market to hit $66M by 2030
The global soft skills training market is projected to reach US$66.075 million by 2030, growing at a compound annual growth rate (CAGR) of 12.2% from 2021’s US$24.142 million.
According to a report by market intelligence and consulting services Acumen Research and Consulting, this growth will be driven by the rising demand and customization requests from academic and corporate sectors.
Several businesses also invest in these training programs to get the most out of their personnel.
Increasing adoption of digital platforms, swiftly growing social media, and growing competition among the young population are some of the leading trends in the soft skills training market that will spur industry demand between 2022 to 2030.
Meanwhile, Stanford Research Institute (SRI) International added that 75% of long-term employment success is driven by mastery of soft skills, while only 25% is determined by technical training and skills.
Developing excellent communication skills among students and employees is also fueling the demand for the soft skill training industry.
In a poll conducted by MIT Sloan, an annual trial of soft skills training among five different manufacturers provided a 250% ROI in just eight months.
