In response to shifting social and economic situations, childcare needs have grown across the nation. This surge in demand has led to an increase in jobs for those who provide care as well as all who practise child care workers in CPR and the first-aid accreditations, which are often mandatory together with background checks ahead of their employment. Childcare providers work all full / part in centre-based care
The global Children Day Care Services market worth USD 340.97 Billion by 2028, growing at a CAGR of 9.31%
COVID-19 Impact & Market Status
In 2020, the market for day-care services was constrained by the spread of the coronavirus illness (COVID-19), as governments all over the world implemented lockdowns that prohibited public gatherings in locations like classrooms, colleges, childcare centres, and community centres. A viral illness called coronavirus causes flu-like symptoms like breathing difficulties, coughing, and fever. The coronavirus was originally exposed to people in Wuhan, in the People's Republic of China's Hubei region, in 2019. Since then, it has had a catastrophic effect on the human race and is spread throughout the world, affecting Asia, America and Western Europe. National governments' attempts to block the spread have resulted in a global state of lockdown, which has decreased economic activity. Businesses suffered from the outbreak through 2020 and subsequently into 2021. A few of the community services markets, however, were largely unaffected by the pandemic since it had no effect on how they operated.
The Baby and Child Day Care Centres Segment is accounted for the highest market share
Due to the increase in families choosing child day care services, particularly in developed nations like the US, the Care Service category is anticipated to have a higher share of the market.
The Pre-Kindergarten and Preschool Centres Segment is anticipated to hold the biggest Proportion
Preschoolers are kids that are three or four years old. Children of this age develop their social, problem-solving, creative, physical, and communication skills.
The APAC region is accounted for the highest market share
In 2021, the market for early childcare service was dominated by Asia Pacific. The market for childcare services was second only to Western Europe. Africa, the Middle East, Central and Latin America. Eastern Europe, and Asia-Pacific are the regions included in the market analysis on child day care services.
The market for child care services consists of sales of babysitting and tutoring as well as associated goods by organisations, partnerships that provide care for children as well as children in either home of a child, in the home of a registered child caregiver, or in a child care facility.
Like many other industries, the childcare services sector can be divided into the various controlling non-profit sectors. Childcare facilities that are for-profit offer care for a fixed cost that is typically dependent on the number of children, the number of hours, plus additional educational services.
The market's growth pace will quicken at a CAGR of 9.31% from 2022 to 2029, with kids’ day care services share of the market predicted to rise by USD 340.97 billion in 2029. The market for child care services consists of sales of childcare like babysitting and tutoring as well as associated goods by organisations, sole proprietorships, and partnerships that provide care for children as well as children in either home of a child, in the home of a registered child caregiver, or in a child care facility. When parents were working or otherwise unavailable, government or a non-profit organisation will care for new-borns, toddlers, pre-schooler, and schoolkids.
This sector of the economy includes businesses that offer preschool and after-school care for older kids. Prekindergarten instruction is also available at several of these institutions. Child care services offered in this market are both public and private. Government grants and transfers direct benefits to childcare workers are also a part of this sector. Pre-kindergarten and preschool facilities, nursery schools, and infant and child day care centres are the three primary categories of child day care services. In order to provide early education to children in the years before they enter primary school, nursery schools manage nurseries or pre-schools that normally cater to children between the ages of three and five. Both centres and private residences provide the services.
Nationwide, there are currently greater family caregivers than authorised child care establishments. However, the demands of the expanding child care industry can't be met by this business model. Space is constrained and care quality is dubious in the family caregiver paradigm; it is frequently thought to be just marginally better than babysitting services. By accessing images and videos of children at childcare facilities, this technology allows parents to keep an eye on their child while they are at the facility. For instance, Trust Child Care Centers and Parent Care Network in Canada collaborated to offer video through the internet to parents so they could keep an eye on their children's activities at the day-care facility.
Technology being used as leverage by the service providers in the market to assist the parents in staying connected with their children while they are in the day-care facility. The involvement of the in-built video calling apps and features as well as usage of third-party software by the service providers has been seen coming into action in the recent times.
The major players in the child day care services market are Bright Horizons Family, KinderCare Education, Goodstart Early Leaning, Primrose Schools, G8 Education, and JP Holdings. These are the industry leaders who contribute tremendously to the industry’s growth and prosperity, maintaining highest standards and great consumer feedback. Amongst these companies and firms, there exists the competitive landscape section which is often used in developing strategies, share of the global market and the market ranking.
Latest Innovations in the Global Children Day Care Services Makret: a Snapshot
- In June ‘20, Goodstart Early Learning and Big Fat Smile formed a merger, both being Australian countries. This was the start of what was to come up from this new company in the global children day care services market.
- Bright Horizons Family Solutions were the first to launch the mobile childcare solution for working parents with less time to accommodate their child.
Children Day Care Services Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 340.97 billion|
|Growth Rate||CAGR of 9.31% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Bright Horizons Family, KinderCare Education, Goodstart Early Leaning, Primrose Schools, G8 Education, and JP Holdings|
Key Segments of the Child Day Care Services Market
Type Overview, 2022-2029 (USD Billion)
- Baby And Child Day Care Centres
- Pre-Kindergarten and Preschool Centres
- Nursery Schools
Application Overview, 2022-2029 (USD Billion)
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa