Child And Youth Services Global Market To Reach Value Of About $125.88 Billion In 2023
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The global child and youth services market is expected to increase from $100.44 billion in 2019 to $102.98 billion in 2020 at a compound annual growth rate (CAGR) of 2.54%. The low growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The market is then expected to recover and reach $125.88 billion in 2023 at a CAGR of 6.92%. The benefits from community programs for children and youth contributed to the growth of the child and youth services market.
The child and youth services market consists of the revenues from child and youth services and related goods by entities (organizations, sole traders and partnerships) that provide non-residential social assistance to children and youth. Only goods and services traded between entities or sold to end consumers are included.
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The global child and youth services market is further segmented based on service, age group and geography.
By Service: Foster And Guardianship Placement Services, Counseling And Information Services, Social Assistance Services, Children And Youth Recreational Programs, Private And State Adoption Services, Others.
By Age Group: Infant, Child, Adolescent, Youth.
By Geography: The global child and youth services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American child and youth services market is the largest in the global child and youth services market.
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Trends In The Child And Youth Services Market
Predictive analytics is a technique increasingly used by communities for the welfare of children and youth. Predictive analytics in the context of child welfare is commonly about maltreatment risk levels. The approach works through quantifying the risk and can be used to target the services that are given to children, families, and communities that are most likely to have benefits.
Child And Youth Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides child and youth services market overviews, analyzes and forecasts market size and growth for the global child and youth services market, child and youth services market share, child and youth services market players, child and youth services market segments and geographies, child and youth services market’s leading competitors’ revenues, profiles and market shares. The child and youth services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.