Child Care Services Market Size & Share Envisaged to Reach USD 437.74 Million By 2032, at a CAGR Of 7.8%: Global Analysis by Polaris Market Research
As per the recent analysis by Polaris Market Research, the global child care services market size was valued at USD 223.41 billion in 2023 and is predicted to reach USD 437.74 billion by 2032. Also, the study states that the market reveals a robust 7.8% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032. The key market players include Bright Horizons Family, KinderCare Learning, Learning Care, Spring Education, Cadence Education, Primrose School Franchising, & G8 Education.
New York, NY, Jan. 17, 2024 (GLOBE NEWSWIRE) — Polaris Market Research has published a recent study report titled “Child Care Services Market Share, Size, Trends, Industry Analysis Report, By Delivery Type (Center-based, Home-based), By Type, By Region, And Segment Forecasts, 2024- 2032” in its research database.
As per the recent analysis by Polaris Market Research, the global child care services market size was valued at USD 223.41 billion in 2023 and is predicted to reach USD 437.74 billion by 2032. Also, the study states that the market reveals a robust 7.8% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032.
What is a Child Care Services? How Big is Child Care Services Market Size & Share?
- Market Overview
The expression child care is a wide terminology utilized to narrate any aggregate of grouping or settings in which the central accountability is caring for a young child. The aggregate of young children below the age of five who are fostered for a chunk of the day by adults apart from the vigilant parents escalated significantly from the early 1980s to the early 2000s extensively due to the escalation in the aggregate of mothers joining the labor force. The rapidly rising demand for child care services market can be attributed to the fact that in a case by solution or prerequisite bulk of the mothers are now working. Roughly one out of four young children are in a single parent abode.
The child care services market growth can be attributed to the fact that the market is pushed by the escalating involvement of women in labour force, especially noteworthy in advanced nations. Further transfers in the family framework towards nuclear families, together with altering population density, such as the escalation in toiling mothers and single-parent homes, are expected to be noteworthy benefactors to the market’s augmentation covering the forecast period. The demand for child care services is anticipated to escalate as a societal or economic components endure to progress highlighting the significance of dependable childcare solutions.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
What are the Key Findings of the Report?
- Escalation in the aggregate of mothers joining the labor force is pushing the market expansion.
- The child care services market segmentation is primarily based on type, delivery type, and region.
- APAC dominated the market with the largest market share.
Who is the Largest Child Care Provider?
- Bright Horizons Family Solutions Inc.
- KinderCare Learning Centers LLC.
- Learning Care Group, Inc.
- Spring Education Group
- Cadence Education
- Primrose School Franchising SPE, LLC.
- G8 Education Ltd.
- Kitty International School and Preschool
- The Learning Journey Day Nursery Ltd.
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- Which Factors are Driving the Market Growth?
The expanding demand for child care services has become an indisputable might pushing the market into a juncture of speedy proliferation and invention. The growing requirement can be credited to scores of propelling elements that broadly highlight the essence and importance of constituted child care in modern society. The child care services market size is expanding as with an escalating aggregate of dual financial overflow homes and single parent families, the conventional representation of indoor parenting has become less pervasive. Therefore, parents are looking for dependable and qualified child care clarifications to guarantee the children’s comfort and advanced requirements are suitably met while they minister to their professional undertaking.
The escalating identification of premature childhood education as a crucial factor of a child’s ensuing success has strengthened the demand for excellent child care services. The child care services market sales are soaring as the parents are growingly organizing schedules that provide assembled learning encounters, stimulating cognitive, social and emotional advancement from a premature age. The stress on premature education highlights the metamorphic influence of standard child care in depositing the bedrock for durable assimilating and academic procurement.
- What are the Latest Market Trends and Opportunities?
The execution of digitalization in the child care services industry has established several technological progressions such as online registration and membership techniques, congregation tracing techniques, digital assimilation policies, distant monitoring equipment, interaction platforms, and online training solutions. This universal digitization plays an important part in improving the holistic efficacy, safety, and clarity within the industry. Contributors and parents much the same profit from these digital instruments as they rationalize procedures, enhance interactions, and offer attainable and agreeable solutions. The acquisition of digital technologies in child care services causes a more contemporary and efficacious perspective to handle and convey childcare.
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Overview of the Top Segments
- Center Based Segment Witnessed a Steep Rise
Based on delivery, the center-based segment witnessed a steep rise. Center-based means are preferred by working parents as they offer an instructional augmented environment with an assembled program related to a school situation. The child care services market demand is on the rise as the continuous development in demand is additionally pushed by the motivated enterprise of the firms passing into the child care service sector with a concentration on center-based contributions. For instance, Bright Horizons Family Solutions, in August 2023, dilated its impression by launching three contemporary child care centers in the US, causing the holistic augmentation of the market in the course of the forecast period.
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Child Care Services Market: Report Scope
|Revenue Forecast in 2032
|USD 437.74 Billion
|Market size value in 2024
|USD 240.66 Billion
|Expected CAGR Growth
|7.8% from 2024 – 2032
|2024 – 2032
|By Delivery Type, By Type, By Region
|Customized purchase options are available to meet any research needs. Explore customized purchase options
APAC: This region held the largest child care services market share due to the obtainability of accessible, superior, and effortlessly attainable child care services and potential. Notable funding in child care sector reinforces this. The region is also known for possessing tedious working hours which extensively causes its escalated market share. As per the report declared by the International Labour Organization (ILO), in January 2023, South and East Asia have the towering mean working hours worldwide with roughly 49 mean working hours in South Asia and approximately 48.8 hours in East Asia. The taxing work programs in these regions underscore the important part of the child care services in reinforcing labouring parents, causing a sizeable existence of the market in the region.
Latin America: This region will grow at a sizeable pace due to growing enterprise and financing targeted at improving the obtainability of child care services. The region is observing a transfer in population density proceeding towards compact, lengthened families and a significant escalation in the involvement of women in the labor market. These collective alterations are anticipated to push the demand for child care services as most parents look for evaluating work and family obligations.
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- In September 2023, KinderCare Learning collaborated with the University of Notre Dame to establish novel on-campus child care facilities catering to children aged 6 weeks to 3 years.
Report Answers to the Following Questions
- What is the study period of the child care services market?
Ans: The study period of the market is 2023-2032
- At what CAGR is the market expected to grow?
Ans: The market is expected to grow at a CAGR of 7.8%
- Which segments are covered in the report?
Ans: Center based segment is covered in the report
- Who are the market’s key players?
Ans; The market’s key players are Bright Horizon’s Family Solution Inc., Kinder care learning centers LLC, and Leraning care group Inc.
Which region holds the largest child care services market share?
Ans: APAC holds the largest market share.
Polaris Market Research has segmented the child care services market report based on delivery type, type, and region:
By Delivery Type Outlook
By Type Outlook
- Early Care
- Early Education & Early Daycare
- Backup Care
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to PMR’s customers.
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