Social Services Global Market To Reach Value Of About $6.6 Trillion In 2025
6 Jul, 2021
The social services market consists of the revenues generated from services and related goods by entities (organizations, sole traders and partnerships) that provide benefits and facilities relating to food supplies, education, health care, disaster relief activities and housing services and are offered by private or government establishments to improve the living conditions and social well-being of under privileged children, disabled, elderly and the poor in a community.
Global Social Services Market Size And Drivers:
The global social services market is expected to grow from $4538.57 billion in 2020 to $4830.58 billion in 2021 at a compound annual growth rate (CAGR) of 6.4%. 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 $6641.02 billion in 2025 at a CAGR of 8%. Government initiatives are the main driver of the market.
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Trends In The Global Social 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. Bloomz, Eleyo, OnCare, myKidzDay, KidCheck are some of the companies providing child care software, applications and technologies utilized by care service providers.
Global Social Services Market Segments:
The global social services market is further segmented based on type, type of operator and geography.
By Type: Educational Services, Social Assistance
By Type Of Operator: Public Operator, Private Operator
Sub segments Covered: Other Educational Services, Colleges, Universities, And Professional Schools, Elementary And Secondary Schools, Child Day Care Services, Community And Individual Services
By Geography: The global social 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 social services market, accounting for 35% of the market in 2020.
Read More On The Report For The Global Social Services Market At:https://www.thebusinessresearchcompany.com/report/social-services-global-market-report-2020-30-covid-19-impact-and-recovery
Social Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides social services market overviews, analyzes and forecasts market size and growth for the global social services market, social services market share, social services market players, social services market segments and geographies, social services market’s leading competitors’ revenues, profiles and market shares. The social services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.