Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) — The rise in the number of working parents, coupled with women’s increased participation in the economy, is one of the major factors expected to drive demand for child care market. The number of working parents is increasing in developing countries, increasing the demand for childcare services. Providing care for young children, preschoolers, and school-aged children while their parents are at work or otherwise unavailable is known as child care. Pre-school children as well as older children not attending school are cared for by establishments in this sector. Some of these institutions also provide education up to kindergarten. Publicly and privately funded child care services are available in the global child care market. In addition, direct cash transfers from the government to child care providers are available in the form of subsidies.
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Global Childcare Services Market: Major Players
- Bright Horizons Family Solutions
- KinderCare Education
- Good start Early learning
- Primrose Schools
- G8 Education
- J.P. Holdings
The whole growth of a child is strongly influenced by how he develops during the first years of his life. The need for high-quality early childhood programs that expose children to a variety of cognitive and linguistic abilities increases accordingly. The global child care services market is impacted by the growth of the middle class, urbanization and changing lifestyles. In recent years, the percentage of working women has steadily increased. In addition, governments in a number of countries, particularly in emerging economies, are adopting measures to boost female employment and reduce gender inequalities. The global child care services market was worth USD 179.51 billion and is projected to reach USD 351.99 billion, growing at a CAGR of 9.89% over the forecast period 2022-2029.
Global Childcare Services Market: Product Type
- Nurseries for babies and children
- Nursery and preschool centers
Global Childcare Services Market: Applications
One or more children aged two weeks to 20 years old are cared for and supervised in a day care centre. When a daycare center, nanny, babysitter, teacher, or other caregiver takes care of children, they are providing childcare services. Early childhood care is an essential but often overlooked aspect of a child’s development. Early childhood education systems rely heavily on child care providers, as they are often children’s first teachers.
The act or skill of caring for children, usually from birth until the age of thirteen, is known as child care. Children are cared for in daycare by a daycare centre, a nanny or other professionals. The majority of daycares in the area require caregivers to have rigorous first aid training and CPR certification. Parents are more dependent on child care because they put in more hours at work.
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The purpose of center-based child care facilities is to work on the whole personality development of children. They offer an enhanced curriculum that supports the development of literacy, language, personality, and other areas. The demand for center-based child care facilities is driven by these benefits.
Worldwide, Child care services Market Breakdown Across-
- North America (US, Canada)
- South America (Mexico, Brazil, rest of South America)
- Asia Pacific (China, Japan, India, Korea)
- Europe (Germany, UK, France, Italy)
- Other (Middle East, Africa, GCC)
Since about half of the women in developed countries like the United States are working, it is likely that there will be a greater demand for childcare services in this region. Additionally, some of the major child care providers, like KinderCare, are located in North America.
For example, the first mobile daycare option for working parents was introduced by Bright Horizons Family Solutions in June 2018. Additionally, Amazon said that starting June 2020, Care.com will offer family daycare benefits to 650,000 part-time and full-time employees. from Whole Foods Market and Amazon.
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