Child Care Market Industry Size, Growth, Trends, Segmentation and Forecast 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.
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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.
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The Child Care market is segmented by type of facility, by location of facility, by expenditure, and by geography.
By Type Of Facility- The child care market can be segmented by type of facility into
a) Baby And Child Care
b) Pre-Kindergarten And Preschool Centers
c) Nursery Schools
Pre-Kindergarten And Preschool Centers had the highest growth rate of nearly 8.9% during the historic period. The fastest growth of the pre-kindergarten and preschool centers can be attributed to the rise in the awareness levels about benefits of early leaning and care.
By Location Of Facility- The child care market can be segmented by location of facility into
By Type Of Expenditure- The child care market can be segmented by type of expenditure into
a) Public Expenditure
b) Private Expenditure
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