Community College Market in US 2017-2021
About Community College
Community colleges in principle is a two-year institution of higher education that are accessed by students who are unable to complete their education via conventional methods. As a result, they work as an alternative for students willing to attain employment market specific skills prior to entering the job market. Bachelor's degree, continuing education, technical and vocational education, training (TVET) certification, and associate degrees are the kinds of programs that are availed by students. Community colleges equip people with the skills to successfully transition to the workplace. The glaring gap in demand and supply for a skilled workforce has necessitated the need for increasing number of these colleges. Besides, open access and flexible course completion options are some of the most critical reasons driving the market growth.
Technavio’s analysts forecast the community college market in the US to grow at a CAGR of 5.02% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the community college market in the US for 2017-2021. To calculate the market size, the report considers the revenue generated by public and private community colleges in delivering courses (offline and online) to individual students and learners.
Technavio's report, Community College Market in The US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Community College Market in The US 2017-2021
Technavio recognizes the following companies as the key players in the community college market in the US: AVTEC, Carver Career and Technical Education Center, Central Louisiana Technical Community College, and NCK Tech.
Other Prominent Vendors in the market are: North Florida Community College, Garden City Community College, Cleveland Community College, and Northeast Community College.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emphasis on education marketing process. 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.”
According to the report, one of the major drivers for this market is focus on non-traditional learners. 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 for continuing education and certification programs conducted by colleges and universities. There is more emphasis laid on continuing education in the US. An unstable global economic condition is adversely impacting the employment market. In addition, the greater demand for skilled employees has led to an increase in requirement for continuing education in almost all the sectors from healthcare or IT.
Further, the report states that one of the major factors hindering the growth of this market is funding cut. The funding sources available to community colleges is one of the most decisive factors in determining the progress of these colleges. As capital is required in every aspect of 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.
AVTEC, Carver Career and Technical Education Center, Central Louisiana Technical Community College, and NCK Tech. Other Prominent Vendors in the market are: North Florida Community College, Garden City Community College, Cleveland Community College, and Northeast Community College.