PUBLISHER: The Business Research Company | PRODUCT CODE: 1435317
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435317
Child day care services encompass the care provided to infants and toddlers, preschoolers, and school-aged children by either the government or an organization when parents are at work or unavailable for other reasons. This care can be offered in the child's home, the registered child caregiver's home, or a dedicated child care center.
The primary categories of child day care services include baby and child day care centers, pre-kindergarten and preschool centers, and nursery schools. Nursery schools typically cater to children aged 3 to 5, offering early education in the years leading up to their entry into primary school. These services are available in both Center-Based and Home-Based locations. Expenditure types vary between public and private options and are accessed by children in age groups ranging from less than 1 year to above 6 years.
The child care services market research report is one of a series of new reports from The Business Research Company that provides child care services market statistics, including child care services industry global market size, regional shares, competitors with a child care services market share, detailed child care services market segments, market trends and opportunities, and any further data you may need to thrive in the child care services industry. This child care services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The child day care services market size has grown strongly in recent years. It will grow from $310.3 billion in 2023 to $332.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historical period can be attributed to factors such as increased female labor force participation, evolving family structures, government subsidies and programs, emphasis on education, and the trend of urbanization.
The child day care services market size is expected to see strong growth in the next few years. It will grow to $434.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to the implementation of remote work policies, the availability of flexible scheduling options, the attainment of quality accreditation, crisis preparedness, the promotion of inclusive child care, and the development of public-private partnerships. Major trends expected in the forecast period encompass technological integration, a heightened emphasis on early childhood education, the implementation of health and safety protocols, initiatives focused on diversity and inclusion, and the adoption of green and sustainable practices.
Anticipated growth in women's employment rates during the forecast period is expected to be a driving force behind the child care market. In the USA, the share of women in the labor force is projected to reach 47.2% in 2024, leading to increased demand for on-site childcare facilities at corporate establishments. Government initiatives aimed at encouraging women to work further support the rise of the on-site child care market, directly contributing to the overall growth of the child care sector in the forecast period.
The increasing preference for organized daycare settings is poised to propel the expansion of child day care services. Organized day care settings involve structured facilities or environments that provide child care and supervision services within specified time frames. This trend supports children from lower-income families in accessing quality child care. In July 2023, The Office of the Federal Register proposed amendments to the Child Care and Development Fund (CCDF) regulations, with the aim of reducing the financial burden on families related to child care expenses. The proposed changes also focus on enhancing payment rates and procedures for child care providers, expanding the range of child care options available to parents.
The COVID-19 pandemic acted as a restraint on the child day care services market in 2020 due to global lockdowns restricting public gatherings, including schools, colleges, and child care centers. Although some social services markets remained relatively unaffected, the child day care services market is expected to recover from the impact of this unforeseen 'black swan event' across the forecast period.
Child daycare centers are adopting technology to enable parents to stay connected with their children. Many centers utilize apps for video streaming of classroom activities and sending pictures to parents, allowing them to monitor their child's activities. For example, in Canada, Trust Child Care Centers partnered with Parent Care Network to provide video streaming over the internet for parents to monitor their child's activities. Companies such as Bloomz, Eleyo, OnCare, myKidzDay, and KidCheck offer child care software and applications used by service providers.
Leading companies in the child care services sector are introducing innovations such as Child Care Technology to maintain a competitive edge. Child care technologies encompass digital solutions tailored for childcare centers to address challenges, achieve business and educational objectives, and streamline daily operational tasks. The increasing preference for organized daycare settings, offering better learning tools and a structured environment, contributes to the overall growth of the market. For instance, in April 2021, Procare Solutions launched the Child Care Technology platform, providing solutions such as digital attendance tracking, tuition collection and payment, staff-to-child ratio management, and parent engagement.
Major companies operating in the child day care services market report are KinderCare Education LLC, Learning Care Group, The Learning Care Group Inc., Bright Horizons Family Solutions Ltd., G8 Education Limited, Cadence Education LLC, Primrose School Franchising Company, La Petite Academy Inc., The Learning Experience, Kiddie Academy Domestic Franchising LLC, JP Holdings Company Inc., Children of America LLC, Goddard Systems Inc., Children's Lighthouse Learning Centers, Goodstart Early Learning Ltd., BrightPath Kids Corp., KU Children's Services, Little Einsteins, Kids 'R' Kids International Inc., Children's Courtyard Inc., Busy Bees Daycare LLC, KidsPark Inc., Discovery Point Franchising Inc., Children's Campus Inc., The Goddard School Franchise, Tutor Time Child Care/Learning Centers, Children's Garden Learning Centers, Childtime Learning Centers, PLASP Child Care Services, Rainbow Child Care Center Inc.
Asia-Pacific was the largest region in the child day care services market in 2023. Western Europe was the second-largest region in the child day care services market. The regions covered in the child day care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the child day care services market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The child care services market includes revenues earned by entities by providing services such as traditional daycare center, in-home daycare, nanny, shared nanny, au pair, babysitter, and relative care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Child Day Care Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on child day care services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for child day care services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The child day care services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.