Community Colleges in the US - Industry Market Research Report

Class dismissed: Rising demand for skilled professions will boost demand for higher education

Community colleges have struggled to stop their downward trajectory over most of the five years to 2023. When the pandemic caused the national unemployment rate to spike in 2020, many students who would have otherwise enrolled in a community college deferred or delayed their admission. After the labor market's triumphant return in 2021 and 2022, growth in travel and other alternatives fueled a lack of interest in community colleges and higher education. Because of these challenges, industry-wide revenue has been falling at an a CAGR of 2.1% over the past five years and is expected to total $63.5 billion in 2023, when revenue will swell by an estimated 0.8%. This industry includes public, private nonprofit and for-profit community colleges. These post-secondary educational institutions offer college transfer courses and programs, occupational programs and general educational programs. Community colleges generally confer associate degrees, certificates or diplomas below the baccalaureate level. This industry does not include trade and technical schools. 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.