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The community college market in the US share is expected to increase by USD 18.22 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.89%.
This community college market in the US research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the community college market in the US segmentation by revenue stream (government funds, tuition and fees, grants and contracts, and others) and application (associate degree, TVET certification, continuing education, and bachelor's degree). The community college market in the US report also offers information on several market vendors, including Alaska Vocational Technical Center, CENTRAL LOUISIANA TECHNICAL COMMUNITY COLLEGE, Cleveland Community College, Garden City Community College, Lake Area Technical College, NCK Tech., North Florida College, Northeast Community College, Santa Barbara City College, and Walla Walla Community College among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The focus on non-traditional learners is notably driving the community college market in the US growth, although factors such as funding cuts may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the community college market in the US industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Community College Market in the US Driver
The rise in industry partnerships is one of the major factors driving the market growth. Institutions are shifting focus from attracting and recruiting traditional degree program students to other student categories. Other student categories include student and adult learners who enroll in continuing education and certification programs conducted by colleges and universities. As per the National Center of Education Statistics, in the US, in 2018, the undergraduate enrollment of female candidates of age 25-34 was 2,375, and of those aged 35 and over was 1,540. The undergraduate enrollments of male candidates of age 25-34 were 1,843 and aged 35 and over were 858. There is more emphasis laid on continuing education in the US. An unstable global economic condition is adversely impacting the employment market. Besides, the greater demand for skilled employees has led to an increase in the requirement for continuing education in almost all sectors from healthcare or IT. The non-traditional category is expected to serve as a customer segment with significant revenue-generating opportunities. Various evening and part-time course programs have been introduced that are highly flexible to suit students. Also, the availability of online courses with hassle-free credit transfer systems has further helped institutions to attract non-traditional learners. This will open a new avenue of revenue generation for community colleges and enable them to cater to educational customers.
Key Community College Market in the US Trend
The emphasis on the education marketing process is one of the key community college market trends in the US. Community colleges are observed to embrace education marketing services. The procurement of education marketing services is a common phenomenon among other higher education institutions and K-12 schools. However, community colleges are gradually following the trend. They face challenges due to the rising competition in terms of attracting and recruiting students from four-year and for-profit institutions along with quality enhancement initiatives. This has resulted in colleges redesigning their communication and recruitment strategies. Students that can enroll at community colleges have the purpose of either joining the job market or transferring to a four-year institution. Hence, colleges must prepare communication messages accordingly to capture students with varied mindsets. Community colleges are taking expert services from education marketing service providers. For instance, Ivy Tech Community College has utilized social networking platforms as a way of marketing its education campaigns and as a customer service tool. The marketing departments in colleges are looking for innovative ways to reach out to a vast array of students. They understand that the student recruitment process is not a one-time activity. Hence, they are making efforts to strengthen their marketing initiatives. We expect this trend to gain momentum during the forecast period.
Key Community College Market in the US Challenge
The funding cut is a major hindrance to the community college market growth in the US. The funding sources available to community colleges are one of the most decisive factors in determining the progress of these colleges. As capital is required in every aspect of the maintenance and growth of community colleges, it is a critical input for them. However, looking at the funding trends, it is observed that state funding has steadily declined during the past couple of years. The state tax revenue that acted as a major source of funding for these colleges has shrunk and resulted in colleges either raising their tuition fees or limiting their student intake. Alongside this, there have been spending cuts that may compromise the quality of education imparted by these colleges. States such as Oklahoma, Kentucky, and West Virginia have encountered per-student spending cuts in 2015 and have continued until the present. This has pressurized community colleges to provide quality education in the absence of funding. As these colleges put a cap on student enrollments, this acts in favor of the other four-year academic institutions that accommodate the rest of the students. Thus, this factor challenges market growth during the forecast period.
This community college market in the US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the Community college market in the US as a part of the global education services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the community college market in the US during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the community college market in the US encompasses successful business strategies deployed by the key vendors. The community college market in the US is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The community college market in the US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the community college market in the US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of education services market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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The community college market in the US shares growth in the government funds segment will be significant during the forecast period. Government funds are the biggest source of revenue for community colleges in the US. Colleges are largely served by state, local, and central government funds that are used to provide salaries for instructors and other college staff. These funds are meant for improving every aspect of colleges, ranging from learning processes to college infrastructure. The government funds market segment is expected to record a slow growth rate during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the community college market in the US size and actionable market insights on post COVID-19 impact on each segment.
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Community College Market in the US Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.89% |
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Market growth 2021-2025 |
$ 18.22 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.19 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 46% |
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Key consumer countries |
US and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alaska Vocational Technical Center, CENTRAL LOUISIANA TECHNICAL COMMUNITY COLLEGE, Cleveland Community College, Garden City Community College, Lake Area Technical College, NCK Tech., North Florida College, Northeast Community College, Santa Barbara City College, and Walla Walla Community College |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by revenue stream
6 Market Segmentation by course offerings
7 Customer landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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