Trade off: Increasing university costs and declining unemployment will lower industry demand

The Trade and Technical Schools industry has experienced fluctuations over the past five years, largely due to the recession and stagnant growth in federal funding. High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. Over the five years to 2021, decreasing unemployment rates combined with the increasing tuition of four-year colleges, will both boost enrollment in vocational training, and hamper industry growth...read more.

Industry Statistics & Market Size
Revenue
$13bn
Annual Growth 11-16
-1.1%
Forecast Growth 16-21
Profit
Employment
127,260
Businesses
8,876
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • Decreasing unemployment has caused profit margins to dwindle
  • Even as unemployment decreases, many schools now offer the possibility to remain in school while employed
  • A greater number of employers require new employees to hold formal certifications
  • Industry Report - Industry Locations Chapter

    The geographic spread of technical and trade schools in the United States is generally consistent with each region’s population share. More populated regions are likely to have higher numbers of students, as well as a greater number of prospective jobs. The proportion of regional establishments to regional revenue is also fairly constant among the regions. On average, an industry operator employs 14 workers at a given time.Technical and trade schools generally require a large amount of hands-on training, so schools tend to compete for students within their local area. However, this basis of competition is becoming less important as online education becomes more readily available, continuing over the next five years...purchase to read more.

    Additional Insights for the Trade & Technical Schools Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Trade & Technical Schools Industry are

  • Timely compliance with government regulations
  • High prior success rate (including completed prior contracts)
  • Ability to alter goods and services produced in favor of market conditions
  • IBISWorld analysts also discuss how external factors such as Government funding for universities and National unemployment rate in the Trade & Technical Schools industry impact industry performance..

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    What is the Trade & Technical Schools Industry?

    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.

    Industry Products
  • Cosmetology and barber schools
  • Flight training programs
  • Apprenticeship training programs
  • Other professional development programs
  • Industry Activities
  • Barber colleges
  • Beauty schools
  • Flight training schools
  • Apprenticeship training programs
  • Commercial or graphic art schools
  • Bartending schools
  • Electronic equipment repair training schools
  • Firefighter training schools
  • Medical technician schools
  • Real estate schools
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Government funding for universities
  • National unemployment rate
  • Number of adults aged 20 to 64
  • Consumer Confidence Index
  • High school retention rate

  • Current Performance
  • Shifts in education priority
  • Technology drives industry growth
  • Increased demand means expansion
  • Other trends
  • Chart: Revenue Growth

  • Industry Outlook
  • Downstream employment trends
  • Government regulation
  • Continued industry growth
  • Table: Trade & Technical Schools Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Trade & Technical Schools Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Book, Magazine & Newspaper Wholesaling
  • Computer & Packaged Software Wholesaling
  • Janitorial Services
  • Municipal Building Construction
  • Office Stationery Wholesaling

  • Products & Services
  • Other professional development programs
  • Flight training programs
  • Cosmetology and barber schools
  • Apprenticeship training programs
  • Chart: Trade & Technical Schools Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Students aged 25 to 34 years old
  • Students 45 to 64 years old
  • Students 20 to 24 years old
  • Students 35 to 44 years old
  • Students 15 to 19 years old
  • Students 65 years and over
  • Chart: Major Market Segmentation for the Trade & Technical Schools Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation
  • Rent and utilities
  • Marketing
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Trade & Technical Schools

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Trade & Technical Schools Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Trade & Technical Schools Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Trade & Technical Schools Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • National unemployment rate (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Apprenticeship
  • A system of teaching a skill to a new generation of practitioners. Training is completed on the job while working for an employer who helps the individual learn the trade.
  • Career And Technical Education (Cte)
  • Training for jobs that are based on manual or practical activities, traditionally nonacademic and related to a specific trade, occupation or vocation; also called vocational education.
  • Title Iv Programs
  • A program authorized under Title IV of the Higher Education Act that is the major source of federal student aid. Title IV programs include loans, grants and federal work study.
  • Why buy this report?

    The Trade & Technical Schools industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
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    This report on Trade & Technical Schools:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Trade & Technical Schools market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Trade & Technical Schools, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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