Community And Individual Services Global Market To Reach Value Of About $1.5 Trillion In 2025
2 Jul, 2021
The community and individual services market consists of the revenues from community and individual services and related goods by entities (organizations, sole traders and partnerships) that provide non-residential social assistance to children and youth, elderly, persons with disabilities, and all other individuals and families or collect, prepare, and deliver food for the needy; provide short-term emergency shelter, temporary residential shelter, transitional housing, volunteer construction or repair of low-cost housing, and/or repair of homes for individuals or families in need; or provide food, shelter, clothing, medical relief, resettlement, and counseling to victims of domestic or international disasters or conflicts (e.g., wars).
Global Community And Individual Services Market Size And Drivers:
The global community and individual services market is expected to grow from $1014.8 billion in 2020 to $1135.44 billion in 2021 at a compound annual growth rate (CAGR) of 11.9%. 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 $1543.34 billion in 2025 at a CAGR of 8%. Increasing public funding to support social initiatives is the main driver of the market.
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Trends In The Global Community And Individual Services Market
Community and individual services providers are increasingly using data-driven approach such as big data and predictive analytics to gather insights related to social assistance services. Predictive analytics involves the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. Big data analytics involves extracting hidden patterns and useful information from a large set of data. These techniques help in reporting, detecting, or correcting non-compliance while monitoring target population. For instance, Hillside Family of Agencies, a human services provider for youth and families, is using predictive analytics to reduce the dropout rates among youth in high school.
Global Community And Individual Services Market Segments:
The global community and individual services market is further segmented based on type and geography.
By Type: Community Food, Housing, And Relief Services, Individual And Family Services
Sub segments Covered: Community Food Services, Community Housing Services, Temporary Shelters, Other Community Housing Services, Emergency And Other Relief Services, Vocational Rehabilitation Services, Child And Youth Services, Services For the Elderly And Persons with Disabilities, Other Individual And Family Services
By Geography: The global community and individual services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global community and individual services market, accounting for 44% of the market in 2020.
Read More On The Report For The Global Community And Individual Services Market At:https://www.thebusinessresearchcompany.com/report/community-and-individual-services-global-market-report-2020-30-covid-19-impact-and-recovery
Community And Individual Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides community and individual services market overviews, analyzes and forecasts market size and growth for the global community and individual services market, community and individual services market share, community and individual services market players, community and individual services market segments and geographies, community and individual services market’s leading competitors’ revenues, profiles and market shares. The community and individual services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.