Press release
Key Factor Supporting Social Assistance Market Development in 2025: Rising Women's Employment Rate Drives The Social Assistance Market Growth
Social Assistance
How Large Will the Social Assistance Market Size By 2025?
The market size of social assistance has seen considerable expansion in the past few years. Expecting a surge from $1680.47 billion in 2024 to $1793.8 billion in 2025, it anticipates a compound annual growth rate (CAGR) of 6.7%. The historical period of growth can be credited to social welfare initiatives, economic conditions, growing elderly population, and healthcare services.
How Big Is the Social Assistance Market Size Expected to Grow by 2029?
The social assistance sector is projected to witness significant expansion in the approaching years. The market size is anticipated to reach $2290.34 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 6.3%. Several factors like demographic changes, economic revival and resilience, mental health provisions, childcare services, and substance abuse and addiction services contribute to this growth projected for the forecast period. Key trends for the forecast period include digital transformation, mental health and wellness support, childcare and early childhood education, integration of technology in social assistance, alongside community participation and volunteering.
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Which Key Market Drivers Powering Social Assistance Market Expansion and Growth?
The anticipated growth in female employment over the forecast period is projected to fuel the social assistance market. For example, the proportion of women participating in the workforce in the USA is predicted to surge by 47.2% in 2024, sparking a demand for on-site childcare services within corporate environments. The surge in the on-site childcare market is considerably backed by government measures promoting female employment, which will invariably bolster the childcare market expansion during the forecast period, hence propelling the social assistance market.
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Which Fast-Growing Trends Are Poised to Disrupt the Social Assistance Market?
The utilization of data-focused methodologies, like big data analysis and predictive analytics, is becoming increasingly prevalent among social assistance providers as they seek to gather meaningful insights related to their services. Predictive analytics employs data, machine learning techniques, and statistical algorithms to determine the potential for future outcomes using past data. Meanwhile, big data analysis finds hidden patterns and valuable knowledge from large data sets. These techniques facilitate the reporting, detection, or rectification of non-compliance while surveying the target demographic. For example, Hillside Family of Agencies, an organization providing services for youth and families, employs predictive analytics to decrease dropout rates amongst high school students. Likewise, Good Samaritan Society, a non-profit offering senior care services, is collaborating with IBM to implement big data and analytics software on their clinical and operational patient data.
What Are the Emerging Segments in the Social Assistance Market?
The social assistance market covered in this report is segmented -
1) By Type: Child Day Care Services, Community And Individual Services
2) By Mode: Online, Offline
3) By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-help
Subsegments:
1) By Child Day Care Services: Daycare Centers, Home-based Child Care, After-school Programs, Pre-school Services
2) By Community And Individual Services: Elderly Care Services, Disability Assistance Services, Social Support For Low-income Families, Counseling And Mental Health Services, Substance Abuse Rehabilitation Services
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Who Are the Global Leaders in the Social Assistance Market?
Major companies operating in the social assistance market include United Nations World Food Program, The Salvation Army International Trustee Co, United Nations International Children's Emergency Fund, Bright Horizons Family Solutions Inc., Sanctuary Housing, KinderCare Learning Centers LLC, Food For The Poor Inc., Goodstart Early Learning Ltd., Primrose Schools, G8 Education Ltd., Young Men's Christian Association, Boys & Girls Clubs of America Inc., American Cancer Society Inc., Catholic Charities USA, Goodwill Industries International Inc., American Red Cross, Feeding America, Habitat for Humanity International Inc., United Way of America, The Nature Conservancy, Humane Society of the United States, The Trevor Project Inc., St. Jude Children's Research Hospital Inc., Big Brothers Big Sisters of America, Amyotrophic Lateral Sclerosis Association, The Michael J. Fox Foundation for Parkinson's Research, The Leukemia & Lymphoma Society Research Programs Inc., Alzheimer's Disease and Related Disorders Association Inc., American Heart Association Inc., American Lung Association, Arthritis Foundation, The Multiple Sclerosis Society of India, National Kidney Foundation of Arizona, National Breast Cancer Foundation Inc., Muscular Dystrophy Association, Cystic Fibrosis Foundation.
Which are the Top Profitable Regional Markets for the Social Assistance Industry?
Western Europe was the largest region in the social assistance market in 2023. Asia-Pacific was the second-largest region in the social assistance market. The regions covered in the social assistance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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