Global Child Day Care Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
17 Jun, 2021
The child care market consists of the sales of child care services such as babysitting and learning services and related goods by entities (organizations, sole traders and partnerships) that provide care for infants or children either in the home of the child, in the home of the registered child caregiver or in a child care center. Child care is the care provided for infants and toddlers, preschoolers, and school-aged children by government or an organization while parents are at work or absent for other reasons. Establishments in this industry provide care services for preschool children, and for older children when they are not in school. Some of these establishments also offer pre-kindergarten education. This market includes both government sponsored and private child care services. This market also includes subsidies and direct benefit transfers by governments to child care providers.
Global Child Day Care Services Market Size And Drivers:
The global child day care services market is expected to grow from $271.67 billion in 2020 to $295.99 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $415.96 billion in 2025 at a CAGR of 9%. An expected increase in the women employment rate in the forecast period is estimated to drive the market for child care.
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Trends In The Global Child Day Care Services Market
Child day care centers are leveraging technologies to facilitate parents to stay connected with their children. Many daycare centers are using apps to provide video streaming of classroom activities and send pictures of kids to parents. This technology enables parents to monitor their child at the care center by accessing videos and pictures of kids at child day care centers. For instance, in Canada, Trust Child Care Centers partnered with Parent Care Network to provide video over the internet to parents to help them monitor child activities at the daycare center.
Global Child Day Care Services Market Segments:
The global child day care services market is further segmented based on type, type of location, type of expenditure, age group and geography.
By Type: Baby And Child Day Care Centers, Pre-Kindergarten And Preschool Centers, Nursery Schools
By Type of Location: Center-Based, Home-Based
By Type of Expenditure: Public, Private
By Age Group: Less Than 1 Year, 1-2 Years, 2-4 Years, 4-6 Years, Above 6 Years
By Geography: The global child day care services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global child day care services market, accounting for 33% of the market in 2020.
Read More On The Report For The Global Child Day Care Services Market At:https://www.thebusinessresearchcompany.com/report/child-day-care-services-global-market-report-2020-30-covid-19-impact-and-recovery
Child Day Care Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides child day care services market overviews, analyzes and forecasts market size and growth for the global child day care services market, child day care services market share, child day care services market players, child day care services market segments and geographies, child day care services market’s leading competitors’ revenues, profiles and market shares. The child day care services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.