Global Individual And Family Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
15 Jul, 2021
The individual and family services market consists of the revenues from individual and family services and related goods by entities that provide non-residential social assistance to children and youth, the elderly, persons with disabilities, and all other individuals and families.
Global Individual And Family Services Market Size And Drivers:
The global individual and family services market is expected to grow from $620.38 billion in 2020 to $697.29 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%. 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 $964.87 billion in 2025 at a CAGR of 8.5%. The rise in abuse and neglect towards children and the elderly is expected to drive the individual and family services market.
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Trends In The Global Individual And Family Services Market
Individual and family services providers are utilizing the virtual means for organizing events or fundraising, creating awareness, and rendering services. Restrictions due to pandemic all over the world forced many organizations to turn towards using the online platform for rendering services. For instance, in October 2020, Fostering Hope Foundation, a US-based non-profit organization for foster services conducted a virtual fundraiser. Furthermore, in October 2020, The NYC Administration for Children’s Services (ACS) and The New York Academy of Medicine (NYAM) have entered into a new partnership aimed at promoting health equity among older youth in foster care through the use of virtual programming.
Global Individual And Family Services Market Segments:
The global individual and family services market is further segmented based on type and geography.
By Type: Child And Youth Services, Services For the Elderly And Persons with Disabilities, Other Individual And Family Services
By Geography: The global individual and family services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Individual And Family Services Market At:https://www.thebusinessresearchcompany.com/report/individual-and-family-services-global-market-report-2018
Individual And Family Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides individual and family services market overviews, analyzes and forecasts market size and growth for the global individual and family services market, individual and family services market share, individual and family services market players, individual and family services market segments and geographies, individual and family services market’s leading competitors’ revenues, profiles and market shares. The individual and family services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.