Global Child Care Market expected to grow at a CAGR of 11.3% to nearly $520.4 billion by 2022 - Bright Horizons Family Solutions, KinderCare Education, Goodstart Early Learning, Primrose Schools, G8 Education Limited

This report describes and evaluates the global child care market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.

The global market for child care reached a value of nearly $339.1 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.3% since 2014, and is expected to grow at a CAGR of 11.3% to nearly $520.4 billion by 2022.

Growth in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits of early learning, government funding in developed nations towards child care costs and an increase in the number of families with both parents working. Factors that negatively affected growth in the historic period were increased unemployment rates and falling fertility rates.

Going forward, government initiatives to support child care, rising corporate profits which enable companies to spend more on social benefits to employees, and awareness of the benefits of early-life education due to rising internet penetration, will drive growth. Factors that could hinder the growth of the child care market in the future include rising minimum wages and security issues.

The child care market is segmented by type of facility into baby and child care, pre-kindergarten and preschool centers, and nursery schools. Baby and child care was the largest segment of the child care market by type of facility in 2018 at 69.2%. The pre-kindergarten and preschool centers market is expected to be the fastest-growing segment going forward at a CAGR of 12.6%.

Get Sample Copy https://www.reportsweb.com/inquiry&RW00012739480/sample

The child care market is segmented by location into center-based child care and home-based child care. The center-based child care segment was the largest segment of the child care market by location of facility in 2018 at 69.93%, worth about $237.15 billion.

The child care market is segmented by type of expenditure into public expenditure and private expenditure. Among all countries mentioned in the report, the USA was the largest market for public child care accounting for $47.2 million. It was followed by China and India accounting for $37.7 and $12.1 respectively. Going forward, the fastest growing markets for public child care will be China and India, where growth will be at CAGRs of 19.1% and 17.7% respectively. Among all countries mentioned in the report,

China was the largest market for private child care accounting for $22.2 million. It was followed by Brazil and the USA accounting for $8.7 and $6.4 respectively. Going forward, the fastest growing markets for private child care will be Russia and Japan, where growth will be at CAGRs of 21.6% and 21.3% respectively.

Asia-Pacific was the largest market for child care, accounting for 38.4% of the global market in 2018. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the child care market will be Africa and South America, where growth will be at CAGRs of 17.5% and 17.0% respectively. This rapid growth of the child care market in Africa and South America will result from the expected economic growth of both regions in the forecast period driving the increase in the number of female workers and increased disposable income. An expected emergence of private child care centers offering modern, reliable and safe child care facilities following an improved economic environment will support the rapid growth of the market in these regions.

The growth of the child care market in Africa and South America is expected to be followed by the Middle East and Asia-Pacific where the market is expected to grow at a CAGR of 14.7% and 14.5% respectively.

The market for child care is highly fragmented with large numbers of small entities with minor shares. Bigger players in the market include Bright Horizons Family Solutions, Learning Care Group, Primrose Schools, Goodstart Early Learning, G8 Education, JP Holdings, and Noble Learning Communities.

Make an enquiry: https://www.reportsweb.com/inquiry&RW00012739480/buying

The global social assistance market, of which the child care market is a segment, reached a value of nearly $1,309.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.8% since 2014. It will grow at a CAGR of 10.0% to nearly $1,920.4 billion by 2022. The community and individual services market was the largest segment of the social assistance market accounting for 74.1% of the total in 2018 and was worth $1,399.9 billion globally. The child care market was the second largest segment, accounting for 25.9% of the social assistance market. Child care is also expected to be the fastest growing segment in the social assistance market at a CAGR of 11.3% during 2018-2022.

The top opportunities in the global child care market will arise in the baby and child care segment, which will gain $124.9 billion of global annual sales by 2022. The child care market size will gain the most in China at $52.1 billion. Market-trend-based strategies for the child care market include leveraging technology to optimize services and enhance customer satisfactory levels, partnering with corporates to increase revenues and market shares, using AI technology for better childcare management, and adopting interest-driven learning methods to make learning more enjoyable for children. Player-adopted strategies in the child care industry include expanding operations through acquisitions, increasing public commitment to high quality learning, and building capable work force.

To take advantage of these opportunities, Publisher recommends the child care companies to focus on use of technological advances, expand in emerging markets, focus on expanding through collaborations, price competitively, leverage social media to maximize reach and focus on the middle class population in emerging countries.

Contact Us:
Call: +1-646-491-9876
Email: sales@reportsweb.com

Pune, India

ReportsWeb.com is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost effective research reports and solutions from various publishers. We provide best in class customer service and our customer support team is always available to help you on your research queries.

This release was published on openPR.