2024 Bootcamp Market Statistics & Insights for Edupreneurs

f you are an eduprenuer or knowledge provider, you probably wonder how the bootcamp business develops nowadays. Spoiler: bootcamps are still worth investing in. Why?

The demand for bootcamps remains high not only among students and adult learners but also businesses and big corporations. 

Besides, the market development shows that bootcamps are now better integrated into the educational system and offer solid job placement opportunities. Even though the challenges remain, it means higher trust and better opportunities for distribution. 

Read on to learn more about bootcamp statistics, reasons for its growth, and interesting facts from the booming sectors, for instance, coding bootcamps.

What is Bootcamp and Why Does the Market Grow?

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But first, let’s start with the basics.

Bootcamp is an intensive program developed for the learners to improve or get skills, and expertise (including specific specialization or job-ready skills) in a short term.

In the last decade, the bootcamp market has been booming. Let’s look not only at how the market changed but also at how many people use the bootcamp model for learning.

For instance, in 2015, less than 20,000 professionals took tech boot camps to improve their skills or reskill; in 2021, the number was 5 times bigger, with 100,000 professionals reskilled or upskilled by boot camps. By 2025, this number will grow up to 380,000, as Holoniq reports.

And what? What does this global bootcamp marketing analysis tell us? The bootcamp becomes a vital tool for businesses to answer the business demand for a skilled workforce and an effective model for students and learners to start a career.

Yet, what are the real drivers behind bootcamp market development?

Demand for skills and workforce as industries and technologies change 

The new tech jobs appear while the skill set required by companies either changes or requires a more advanced level. 

Subject to the Future of Jobs report, 23% of global jobs will change by 2028. The main reasoning lies within industry transformation, adoption of new technologies, and the necessity to bring innovations.

At the same time, certain sectors will continue to grow, especially those that relate to the tech industry.

Let’s take the cybersecurity area for example. 

There is still a significant talent gap in seven U.S. states, where there are more than 15,000 open cybersecurity job positions at the moment. 

The overall tendency is that companies will need a workforce that will be able to have adequate skills to answer the challenges.

Springboard suggests that 70% of leaders in U.S. companies underline that a significant skills gap exists at the place where they work.

In this regard, the intensive courses and programs, particularly coding bootmcaps, emerge as great instruments to help close talent gaps and attract new people.

Career dividends and high placing rates for graduates

On the other hand, students see that bootcamps can offer sounding career opportunities and offer flexible solutions. In many cases, the bootcamp graduates get the job within the first half a year or improve their income. 

For instance, the Course Report provides that almost 60% of bootcamp graduates get a salary increase from their employers. 

Considering the price and time that students spend on getting skills and expertise, adult learners get a great alternative to traditional educational programs or institutions, including degrees and universities.

The same report states that 69% of employees consider bootcamp graduates as a worthy addition to their staff, based on their skills and knowledge. 

That way, students consider bootcamps for learning and a starting point for tech career development.

How Big is the Bootcamp Market?

Now, upon understanding the main reasons behind Bootcamp Market growth, you probably wonder how big is it. What are the opportunities, and what types of boot camps are in demand or areas or actors at the top?

There, we will need to resort to coding bootcamp statistics, revenues, growth rates, and number of graduates.

What is a market coding bootcamp size?

Various sources and reports underline different developments regarding market size. Yet, each of them proves that the market won’t stop growing.

• Expert market research underlines that, in 2023, the value of the coding bootcamp market constituted $2,104.91 million, and will have a value of more than 8,816 million by 2032.
• Imarcgroup shares that market size reached $597.8 million in 2023, and by 20322 it will be around $1,493 million.

Despite the huge difference in data, both of the reports underline that between 2024 and 2032, the CAGR will be significant, equaling 17.3% and 10.71%, respectively. The estimation of other reports about CAGR lies within the 10-17% margin.

How many students graduate from bootcamps?

According to Career Karma, in 2021 and 2022, the bootcamp market grew by 32% and 25,13% annually. In particular, in 2021, the number of graduates rose from 176, 912 to 233,829 and the next year from 233,829 to 292,585.

What is the tuition students pay for the tech bootcamp?

Having a take on a bootcamp program, the tuition may vary from $2,000 to $16,000, whereas the average coding bootcamp tuition is around $14,000. 

The average cost of any bootcamp cost is lower, being around $13,000. Importantly, the self-paced intensive programs are the cheapest, while the full-time bootcamp programs can cost $14,000 and higher.

How long is one bootcamp program?

The length of online bootcamp programs depends on the type and model, varying from 1 to 10 months. 

• For example, full-time remote bootcamps can take from 2 to 10 months with 50 hours of online learning. 
• Self-paced courses are the most flexible, contemplating 15 hours of learning a week on average, but don’t have a determined closing date. 
• Part-time intensive bootcamp courses are longer and can be from 5 months to 10 months, thus, it is a great option for part-time workers or job switchers.

Nowadays, the bootcamps are pretty diverse, meaning you a student can pick an intensive course, and either use a classic cohort model, have a self-paced option, or even have 1-1 meetings. Yet, the latter are likely to cost more. 

Note. According to Forbes, 75% of bootcamp students were working full-time while studying in a bootcamp. At the same time, out of all bootcamps aged between 18 and 26, 41% had a full-time job. It implies that full-time programs can be more popular among younger audiences.

Bootcamp Geography: What U.S. cities have more bootcamps? 

Historically, the bootcamps developed in areas with a high density of specific companies, certain industry focus, or just tech hubs. 

Having this in mind this fact, it is quite obvious that the highest number of tech bootcamps and their graduates are in New York City, San Francisco, and Los Angeles. 

Note. Such bootcamp giants as General Assembly, and Flatiron, Brainstation are located in New York, while App Academy is in San Francisco.

At the same time, new centers have emerged as online bootcamps are quite popular and do not require bootcamp students to be in a certain city. Among the other cities hosting bootcamp companies are Atlanta, Dallas, Denver, Portland, and Kansas. 

💡Tip. If you are looking for an industry to start a boot camp or intensive courses, consider how saturated the area with bootcamp owners is and what the talent gap is there. That way, you will be able to find partners and answer the demand. 

Coding Bootcamp Statistics on Success and Job Placement For Graduates

Next, let’s consider why bootcamp stats on job placement are so important and why certain bootcamps are more successful than others. 

There, tons of factors affect the success of bootcamps. Yet, the most significant ones, at least for students, are the job placement rate and the impact on their careers. 

For a student, it contemplates that the bootcamp can offer necessary tech skills and relevant expertise, is reputable enough, and provides career opportunities. 

One of the reports by Forbes underlines that skill enhancement and salary opportunities are key motivating factors for students when enrolling in the coding bootcamp, with 61.4% and 57.4% of respondents picking these two factors.

But how successful are bootcamps in offering those opportunities and insights that are so critical? 

In general, they are pretty effective as except for tech skills, they provide networking, career advice, and approaches to getting a job. That’s why the employment rate is pretty high among global coding bootcamp actors.

In particular, the Council on Integrity in Results Reporting shares that 71% of coding bootcamp graduates find a job in the first half year after course completion.

At the same time, the top coding bootcamps have much higher job placement rates:

• General Assembly: around 96% found a job in their field after course completion.
• Thinkful: 81% get a job in 6 months after course completion.
• Flatiron School: 90% get a job after graduation. 

The reason is that these and other boot camps, like App Academy, Fullstack Academy, and Hack Reactor, have specific partnerships with corporations, enterprises, and tech hubs. They develop communities, and networks of alumni, and invite guest experts from enterprises. 

That way, they know the requirements, see the need, and create an adequate curriculum.

💡Read more: Bootcamp Partnerships and Their Effect on Graduates’ Placement

How Much Do Coding Bootcamp Graduates Earn?

Another vital point for the coding bootcamp audience is the effect of studying on their salary and rewards.  

The same report by Forbes mentioned previously shows that 80% of tech bootcamp graduates get a salary rise upon completing the courses, whereas almost 40% experience a $10,000-$30,000 rise, and almost 30% get a $30,000-$50,000 rise. 

Yet, it is important to consider that this situation may not always apply to the global bootcamp market. Why? Tech bootcamps are linked to higher pay, as their graduates often go for or have STEM jobs that have higher salaries compared to other ones.

Global Bootcamp Market Challenges and Opportunites

Even though the bootcamp market develops pretty rapidly, the main challenges refer to credibility, recognition, investments, curriculum changes, and regulation of the actors. Here are several examples:

• The rapid growth of e-learning technologies during and after COVID-19 brought a lot of interest to the industry, but now it is more stable, while education companies and institutions may lack private investments. 
• Another issue is that most coding bootcamps face credibility and recognition issues, especially the new ones.
• Besides, many bootcamps are usually not accredited by the government, thus, students may pick the traditional forms of education.
• Lastly, technologies grow and markets change, meaning many bootcamps should adapt to them and implement new curriculums.

💡Read more: Bootcamp Certification vs Degree: Why Accreditation Matters?

What about opportunities? 

They refer to expansion to regions, including Latin America, Asia, and Europe, collaboration with institutions and universities, and targeting niche sectors and markets. 

A great example of how bootcamps can expand or collaborate with other actors is via partnerships. As we explain in this article, universities can benefit from bootcamps, and vice versa. 

Note. As universities improve the knowledge of the students and help them with preparation for their subsequent careers, while bootcamps can get recognition, access to potential bootcamp participants, and accreditation. 

Yet, the main concern in this regard should be regulation and its impact on bootcamp. The bootcamps need to be flexible as they aim to answer technology and market development, while institutions and corporations significantly depend on regulations, policies, and guidelines that can be hard to change quickly.

Conclusion: What Do Bootcamp Statistics and Market Overview Tell Us?

So, the bootcamp market continues to grow and shape the modern educational landscape. The coding bootcamps are leading the change, answering business and student needs. As the coding bootcamp market shows, the main drivers are the bootcamps’ ability to answer tech skills demands and their flexibility in providing relevant curriculums.

What does it mean for edupreneurs, course creators, or potential bootcamp providers?

Now is the perfect time to explore this dynamic market. If you already have a niche in mind, then why not host a bootcamp? In this regard, you can check the best platforms to run a bootcamp or check what EducateMe offers.