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Business Certification & IT Schools

Business Certification & IT Schools

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Executive summary

The Business Certification and IT Schools industry provides online and in-person vocational and technical training courses. According to data from the National Center for Education Statistics, the number of certificates conferred in business and IT has gradually increased from 133,163 certificates in the 2017-18 academic year to 147,346 certificates in the 2019-20 academic year (latest data available). After demand increased early in the current period, the COVID-19 (coronavirus) pandemic squashed recent gains. Student enrollment in certificate programs fell dramatically. The recovery in job markets after 2020 contributes to suppressed demand for industry services, due to the higher opportunity cost of school, and is marked by an expected 1.7% decrease in 2022 industry revenue.
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industry revenue;

industry profit;

industry margin;

industry employment;

industry major players;

industry key external drivers;

industry product & structure segmentation;

industry key trends;

industry Life Cycle;

industry Geographic Breakdown;

industry Key Success Factors;

industry Key statistics for previous years;

forecast of industry Key statistics for the next 5 years;

Reference Wordlist

BARRIERS TO ENTRY
High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

CAPITAL INTENSITY
Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $ 0.333 of capital to $ 1 of labor; medium is $ 0.125 to $ 0.333 of capital to $ 1 of labor; low is less than $ 0.125 of capital for every $ 1 of labor.

CONSTANT PRICES
The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

DOMESTIC DEMAND
Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

Colloquial Terminology

CLOUD COMPUTING
A technology that uses the internet and central remote servers to store and maintain data and applications.

MASSIVE OPEN ONLINE COURSE (MOOC)
An online course aimed at unlimited and free participation via the internet.

SECRETARIAL
Clerical work that typically involves administrative tasks such as correspondence and scheduling.

VENDOR-CERTIFIED TRAINING
A course that is licensed to teach a company's specific product or software.

Details

Strong demand for IT-related jobs in recent years has contributed to an increase in computer related certificates.
However, a shift in trend over the current period shows growth in advanced computer certificate programs as well.
Conversely, business certificates declined significantly while business degrees increased. Students seeking high paying jobs in computer and IT fields also pursued bachelor's degrees, which have grown in demand, but at a slower rate. Over the five years to 2022, revenue is expected to decline at an annualized rate of 1.3% to $ 2.9 billion due to shifts in computer certificate demand and declines in business certificate demand.

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