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Early Childhood Care and Education Market in India
Early Childhood Care and Education Market
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Summary
Early childhood care and education (ECCE) aims to holistically meet a child's social, emotional, cognitive, and physical requirements to provide a strong and comprehensive foundation for lifelong learning and well-being. Pre-schools and day-care services offer various programs such as childcare, nursery, playgroup, kindergarten (LKG/UKG) for children in the age-group of four months to six years.
Market insights:
The number of pre-schools and childcare centers has increased significantly with the growth of tier II and tier III cities and the rise in the number of franchisees in untapped areas. In FY 2021, the ECCE market was valued at INR 267.89 Bn. It is expected to reach INR 1,155.95 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~27.60% during the FY 2022 - FY 2027 period. It accounted for about 1.71% of the education market in FY 2021.
Impact of COVID-19:
Pre-school teachers have devised e-learning groups, live interactions, several life skills, and experiential learning to teach remotely. Parents are co
They are ncerned about their children missing learning opportunities and believe it is crucial to continue a child's education during this pandemic. Most parents enrolled their children in some form of online learning or homeschooling.
Government initiatives:
The Ministry of Education introduced the National Education Policy (NEP) in 2020, where schooling begins with ECCE at three. The NEP 2020 recommends four models for implementing high-quality ECCE: Anganwadi centers in communities, Anganwadi centers on school grounds, pre-primary school sections, and standalone pre-schools. The Cabinet Committee has also approved the extension of the revised Samagra Shiksha Scheme from 2021 to 2026.
Market influencers:
Market drivers:
The demand for pre-schools and childcare centers has increased as parents have become aware of the importance of early childhood care and education. A rise in disposable income has resulted in quality education programs, and the development of advanced and innovative infrastructure for pre-schools. In the wake of the pandemic, pre-schools and childcare centers adopted the latest technology to ensure the continuity of children's education.
Key deterrents to the growth of the market:
However, most of the teaching, at all levels, is of poor quality, with children expected to learn by rote and pass exams mechanically. Parents, especially in rural areas, are still unaware of the benefits of early education and childcare services investments for their children's future. Another major challenge for pre-schools and childcare centers is the lack of development of a practical and interactive set of activities and curricula.
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Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Objective of early childhood care and education
Chapter 4: Market overview
4.1. Early childhood care and education market size and growth forecast (FY 2019 - FY 2027e)
4.1.1. Exist
....Continued
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