Trade & Technical Schools in the US
The Trade and Technical Schools industry has faltered in recent years largely due to an improving job market, slow growth in federal funding and increased scrutiny from regulators. While large swaths of the economy grew at a faster pace during the current period, industry revenue has declined. This is because the industry typically experiences a spike in demand when unemployment is high, as many former workers return to school to enhance their job prospects. Changing labor market requirements will continue to encourage job seekers to choose vocational courses over apprenticeships and on-the-job training during the outlook period. Downstream demand is expected to remain strong for workers in most trades, while increasing requirements for employees to hold formal certification will aid industry growth. Demand for healthcare professions, spurred by an aging US population, will also increase demand for medical technicians and nurse's aides, bolstering revenue for training schools.
This industry includes schools that offer vocational and technical training in a variety of technical subjects and trades. Training often leads to job-specific certification. Instruction may be provided in diverse settings, such as the company’s training facilities, the workplace, the home or through distance-learning methods. Major segments include cosmetology and barber schools, flight training, apprenticeship training and other technical training.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook