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The US - Community College Market size is estimated to decline at a CAGR of 2.5% between 2023 and 2028. The market size is forecast to decrease by USD - 7.5 billion The report includes historic market data from 2018-2022. It also extensively covers market segmentation by revenue stream (government funds, tuition and fees, grants and contracts, and others) and courses (associate degree, TVET certification, continuing education, and bachelors degree). This report also includes an in-depth analysis of drivers, trends, and challenges.
Focus on non-traditional learners is notably 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 2021, the undergraduate enrollment of female candidates was approximately 58%. However, 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 which also results in US - community college market expansion. Such factors will boost the growth of the US community college market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alaska Vocational Technical Center - The community college offers a training program for 90 to 180 days where students spend the majority of the day in the labs in a hands-on learning environment, practising the technical skills identified by employers as important for the workplace.
The US Community College Market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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The market share growth by 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 to improve every aspect of colleges, ranging from learning processes to college infrastructure.
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The government funds segment was the largest and was valued at USD 34.23 billion in 2018. Moreover, with government initiatives such as the CARE Act Higher Education Emergency Relief Fund, the US Department of Education provided an additional USD 21.2 billion for higher education institutions to ensure continual learning for students during the COVID-19 pandemic. Thus, the initiatives and funding by the government are providing support to educational institutions and community colleges, which will help the US community college market to grow through the government funds segment during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Emphasis on the education marketing process is an emerging trend shaping market growth. 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 who 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 which can have a positive impact on the US - community college market. Hence, they are making efforts to strengthen their marketing initiatives. This trend is expected to gain momentum, which will foster the growth of the US community college market during the forecast period.
Funding cuts to community colleges are a significant challenge hindering market growth. 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.
In addition, states such as Oklahoma, Kentucky, and West Virginia have encountered per-student spending cuts in 2015 and have continued until the present. This has pressured community colleges to provide quality education in the absence of funding. As these colleges put a cap on student enrollment, this acts in favor of the other four-year academic institutions that accommodate the rest of the students which may restrict the US - community college market growth. Thus, this factor challenges the market growth of the US community college market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
US Community College Market Customer Landscape
The US Community College Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018-2022
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US Community College Market Scope |
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Report Coverage |
Details |
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Page number |
132 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 2.5% |
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Market Growth 2024-2028 |
USD -7.49 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
-2.21 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alaska Vocational Technical Center, Central Louisiana Technical Community College, Clackamas Community College, Cleveland Community College, College of San Mateo, De Anza College, Foothill College, Garden City Community College, Glendale Community College, Lake Area Technical College, Mt. San Antonio College, NCK Tech., North Florida College, Northeast Community College, Northwest Iowa Community College, Pasadena City College, Saddleback College, Santa Barbara City College, Walla Walla Community College, and Las Positas 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, and Market condition analysis for the 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Revenue Stream
7 Market Segmentation by Courses
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 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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