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Social Assistance Market Overview - Forecast Market Size, Top Segments And Largest Region
The Business Research Company's Social Assistance Global Market Report 2023 identifies women's employment rate population as the major driver for the Social Assistance market's growth in the forecast period. An expected increase in the women's employment rate in the forecast period is estimated to drive the market forsocial assistance. For instance, the share of women in the labor force in the USA is expected to increase by 47.2% in 2024, driving the demand for on-site childcare facilities at corporates. The rise of the on-site child care market is also highly supported by government initiatives to encourage women to work, which will directly contribute to the growth of the child care market in the forecast period, thereby driving the social assistance market.
The social assistance market size has grown strongly in recent years. It will grow from $1,725.74 billion in 2023 to $1,834.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to social welfare programs, economic factors, aging population, healthcare services.
The social assistance market size is expected to see strong growth in the next few years. It will grow to $2,320.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
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Major competitors in the Social Assistance market are United Nations World Food Program, The Salvation Army International Trustee Co, United Nations International Children's Emergency Fund.
A key trend in the Social Assistance market includes technological advancement. Various government agencies all over the world are focused on launching social assistance programs for the betterment of the public. Social assistance programs refer to government programs that provide assistance to individuals and families in need. These programs are designed to provide a minimum level of income support to individuals and households living in poverty. For instance, in January 2021, The Cabinet Secretariat of the Republic of Indonesia, an Indonesia-based government agency, launched Cash Social Assistance Programs for 2021. The Ministry will give instructions to the beneficiaries through distribution and a public information brochure to make sure the funds are only used for necessities.
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The Social Assistance market is segmented -
• By Type: Child Day Care Services, Community And Individual Services
• By Mode: Online, Offline
• By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-help
• Subsegments Covered: Baby And Child Day Care Centers, Pre-Kindergarten And Preschool Centers, Nursery Schools, Community Food, Housing, And Relief Services, Individual And Family Services
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Social Assistance market.
The Business Research Company's "Global Social Assistance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Social Assistance Market Include:
1. Social Assistance Market Executive Summary
2. Social Assistance Market Segments
3. Social Assistance Market Size And Social Assistance Market Growth Rate
4. Key Social Assistance Market Trends
5. Major Social Assistance Market Drivers
……
25. Key Mergers And Acquisitions In The Social Assistance Market
26. Top Social Assistance Companies
27. Social Assistance Market Opportunities And Strategies
28. Social Assistance Market, Conclusions And Recommendations
29. Appendix
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