Global Professional Skill Training Market Size By Type (Administration and Secretarial, Communication and Productivity), By Sourcing (In-house, Outsourced), By Channel Provider (Academic/ Education, Corporate/ Enterprise), By End-User (BFSI Energy & Power), By Geographic Scope And Forecast

Professional Skill Training Market Size And Forecast

Professional Skill Training Market size was valued at USD 22.93 Billion in 2021 and is projected to reach USD 64.60 Billion by 2030, growing at a CAGR of 12.20% from 2023 to 2030.

Want your team to work smarter, not harder? Professional skills training is the key! And good newslots of companies are now offering online courses at all levels to help. It’s all about finding that perfect candidate, someone with flexibility, a growth mindset, and plenty of emotional intelligence – all things you can develop with the right skill training. Curious about the bigger picture? Check out the Global Professional Skill Training Market report for a complete rundown on what’s driving the market, the latest trends, and who the key players are. It's a deep dive into all the competitive elements and market forces at play.

Global Professional Skill Training Market Definition

Professional skills are generally referred to as emotional characteristics of an individual such as friendliness, body dialect, gestures, communication abilities, individual habits, good faith, and other similar characteristics. An employee or a manager with excellent Professional skills and the enthusiastic remainder is regarded as a perfect individual in any given working environment.  Professional skill training can be given with the assistance of different games, works out, and exercises.

Building professional skills is just as important as any other kind of learning. It really helps people get better at what they do in all sorts of ways. You'll often find this kind of training in schools, colleges, and even within companies and the government. Professional skills teach you how to connect with people and handle tough situations with confidence. All the good stuff you get from these programs? Well, that helps boost the Professional Skill Training Market income! This training didn't just improve my communication; it also made me a better team player and problem-solver. And get thisone of the key things driving market growth is the rising number of e-learning platforms.

Global Professional Skill Training Market Overview

Growing awareness around video-based learning innovation and its benefits all around the globe is reaping various benefits. Usually, video-based learning can offer more noteworthy measurements than traditional learning systems. Additionally, the high-speed web will extend the scope of development and acceptance of video-based learning innovation. One of the greatest highlights of video-based learning innovation is that it permits recording, rewinding, and re-watching alternatives.

Moreover, the variables such as increasing urbanization, industrialization, and mounting skill holes within the creating economies have to assist and contribute to the general market development amid the estimated period. Also, growing centers on ventures in delicate abilities preparing programs by enterprises in combination with the rising deployment of cloud solutions are expected to drive the market’s development rate.

Growing focus on deploying technologically advanced innovations such as artificial insights, virtual reality, and increased reality is cultivating the market’s adoption rate. Integrating fake intelligence with learning management systems can offer focal points such as voice-generated bots, normal module updates, and much more. Technologies such as VR and AR can impart real-time delicate ability instruction to workers and at the same time offer an intuitive communication system.

This will as well carve the way for the development of the market. However, the deployment of  Professional ability development solutions and systems is quite costly. Using AR and VR technologies and integrating video-based learning innovation with the existing enterprise solutions is a lumbering and costly handle. Budgetary limitations in small-scale organizations can hamper the development rodent of the market.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Professional Skill Training market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Professional Skill Training market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Professional Skill Training Market Segmentation Analysis

The Global Professional Skill Training Market is Segmented on the basis of Type, Sourcing, Channel Provider, End-User, and Geography.

Professional Skill Training Market, By Type

• Administration and Secretarial
• Communication and Productivity
• Management and Leadership
• Personal Development
• Teamwork
• Others

When it comes to Type, the market's basically split into categories like Administration and Secretarial, Communication and Productivity, Management and Leadership, Personal Development, Teamwork, and, well, Others. But digging into the professional skills training industry, it looks like communication and productivity training will be a really big deal. Think about it – training workers in these skills leads to serious efficiency and ROI. Plus, communication skills training helps employees listen better and ask the right questions. You know, active listening and all that. When people really understand each other, they just get things done faster and better. So, yeah, training in communication and efficiency ends up bringing in more money than other types of "soft" skills.

Professional Skill Training Market, By Sourcing

• In-house
• Outsourced

Based on the Sourcing, The market is bifurcated into In-house and Outsourced. outsourcing remains more prevalent than in-house. Professional skill training exercises can profoundly benefit a company pointing to a decrease in its operational uses. It also has unmistakable benefits that will give veritable value to a firm. Outsourcing allows businesses to have got previously untapped abilities that will be helpful. Besides, outsourcing allows businesses to hire the most talented and proficient trainers for delicate abilities where their in-house coaches may need to catch up.

Professional Skill Training Market, By Channel Provider

• Academic/ Education
• Corporate/ Enterprise
• Government

Depending on the Channel Provider, we see the market split into three main areasAcademic/Education, Corporate/Enterprise, and Government. When it comes to businesses, training in "soft skills" like decision-making and problem-solving is just as important as learning technical skills. It really helps people become more productive, tackle tough tasks efficiently, and feel more engaged in their work and the overall company vibe. On the other hand, the Academic/Education channel is expected to grow the fastest in the coming years, mainly because more and more schools are incorporating these soft skills into their programs with government support.

Professional Skill Training Market, By End-User

• BFSI
• Energy & Power
• Healthcare & Pharmaceuticals
• Hospitality
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Retail
• Others

Based on the End-User, BFSI, Energy & Power, Healthcare & Pharmaceuticals, Hospitality, IT & Telecom, Manufacturing, Media & Entertainment, Retail, and Others. The market is bifurcated into BFSI had the most market share in 2021 and will continue to do so in the future years. The importance of professional skill training in the banking and financial sector is significant since such training can help the bank personnel productively offer their products and services.

Professional Skill Training Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, the Global Professional Skill Training Market is classified into North America, Europe, Asia Pacific, and the Latin America, and Middle East and Africa. North America dominated the market in 2021 with the highest share and will proceed to do so in the future. Rising technological innovation, expanded government investments, advanced infrastructure, and enrolment in professional skill training in scholarly and business settings are a few drivers driving the North American Professional skills training market.

Key Players

The “Global Professional Skill Training Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are edX, Inc., Pearson PLC, NIIT Limited, The Insights Group Ltd, Tata Interactive Systems, Skillsoft Corporation, D2L Corporation, Articulate Global, Inc., QA Ltd., New Horizons Worldwide, LLC, Computer Generated Solutions, Inc., Cegos Group, and Dale Carnegie.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• February 01, 2023- Codecademy, from Skillsoft announced enhancements to its product suite, including upgraded features for Codecademy Pro and a new upskilling product, Codecademy Plus. The expanded offerings bring a robust, end-to-end learning experience for professionals looking to start a new career in technology or strengthen their technical skillsets.
• January 05, 2023- Skillsoft a leading platform for transformative learning experiences announced it has entered into a content partnership with GoodHabitz, a provider of online skills training and professional development based in the Netherlands. Through this, Skillsoft and GoodHabitz will provide customers and learners with an even more comprehensive content library to support mental health and well-being in the workplace, as well as a broad range of skills, including personal productivity, leadership development, and communication.
• May 16, 2022 – D2L, a global learning technology company introduced its new Creator+ Early Access Program, which will provide an easy-to-use content creation experience and enable instructors to create their own content using seamless and familiar Brightspace workflows to save time, effort and money.
• August 31, 2022 – CGS, a global provider of business applications, enterprise learning and outsourcing services, announced the continued success of its aggressive expansion efforts with new BlueCherry® Shop Floor Control customers in the Latin America region.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope

Top Trending Reports