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2023 U.S. Industry Statistics & Market Forecast - Technical & Trade Schools
Market Size & Industry Statistics
The total U.S. industry market size for Technical & Trade Schools:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Technical & Trade Schools industry has seen significant changes in recent years due to various trends affecting the industry. Some of the key trends include:1. Demand for skilled workforce: There is a growing demand for skilled workers in various industries, particularly in the manufacturing and construction sectors. As such, trade schools are becoming popular among students who want to acquire the necessary skills to secure employment quickly.
2. Technology advancements: The rapid advancement of technology is transforming numerous industries, and the Technical & Trade Schools industry is no exception. Technical and trade schools are now incorporating technology into the classroom, providing students with hands-on training on modern tools and equipment.
3. Online learning: More Technical & Trade School programs are now available online, making it easier for working professionals or those who cannot attend physical classes because of distance or other reasons.
4. Rise of apprenticeship programs: The popularity of apprenticeship programs is on the rise. Many trade schools now provide apprenticeship opportunities for students to work with experienced professionals in various trades.
5. Increased emphasis on soft skills: Traditionally, trade schools have primarily focused on teaching technical skills. However, employers are now demanding that workers possess strong interpersonal and communication skills. As such, trade schools are now placing an increased emphasis on soft skills training.
In conclusion, the Technical & Trade Schools industry is evolving to meet the demands of the market and provide students with the skills and knowledge they need to succeed in the workforce. Technical and trade schools that embrace these trends are set to stay relevant and continue to attract students.
Product & Services Breakdown
Research products and services in the Technical & Trade Schools industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Basic Education & Personal Improvement Programs & Courses (Include Tuition For Literacy Programs, Ged, Second Language Programs, |
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Occupational, Technical, And Trade; Professional Development; And Management Training Programs And Courses |
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Training Programs - Education (Include Training In Instructional Techniques And Professional Development For Educators.) |
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Training Programs - Physical And Life Sciences And Technologies |
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Training Programs - Health, Parks, Recreation, And Fitness |
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Training Programs - Professional Development And Management Training Programs And Courses |
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Training Programs - All Other Personal, Protective, And Transportation Services (Include CDl Training.) |
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Training Programs - Other Occupational, Technical And Trade; Professional Development; And Management Training Programs And Cour |
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Higher Academic, Career/Technical, And Advanced Research Qualification Programs And Credit Courses |
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Personal Care Services (Include Fees For Hair, Nail, Skin Care.) |
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Resale Of Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Program Service Revenue Including Government Fees And Contracts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Technical & Trade Schools company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Technical & Trade Schools industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Technical & Trade Schools measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 10% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Other Management Occupations | 6% | |||
| Education and Childcare Administrators | 5% | |||
| Business and Financial Operations Occupations | 10% | |||
| Business Operations Specialists | 8% | |||
| Educational Instruction and Library Occupations | 46% | |||
| Postsecondary Teachers | 37% | |||
| Health Teachers, Postsecondary | 5% | |||
| Miscellaneous Postsecondary Teachers | 31% | |||
| Career/Technical Education Teachers, Postsecondary | 29% | |||
| Postsecondary Teachers, All Other | 9% | |||
| Preschool, Elementary, Middle, Secondary, and Special Education Teachers | 6% | |||
| Secondary School Teachers | 5% | |||
| Other Educational Instruction and Library Occupations | 8% | |||
| Office and Administrative Support Occupations | 14% | |||
| Information and Record Clerks | 5% | |||
| Secretaries and Administrative Assistants | 7% | |||
| Secretaries and Administrative Assistants | 7% | |||
| Secretaries and Administrative Assistants, Except Legal, Medical, and Executive | 6% | |||
Technical & Trade Schools Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Technical & Trade Schools industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Technical & Trade Schools industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Technical & Trade Schools industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $13,739,713,889 on Technical & Trade Schools. It has awarded 1561 contracts to 486 companies, with an average value of $28,271,016 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| PARLIAMENT LLC 2427 Brentwood Rd Beachwood, OH | Jun 30, 2023 | $20,400 |
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