PUBLISHER: The Business Research Company | PRODUCT CODE: 1489294
PUBLISHER: The Business Research Company | PRODUCT CODE: 1489294
Daycare management software, also known as childcare management software, is a specialized digital platform developed to help daycare centers, preschools and other child-oriented facilities efficiently manage various aspects of their operations. This software aims to streamline administrative tasks and simplify daily processes, enhance communication between staff and parents, automate billing procedures and improve overall operational efficiency.
The daycare management software market consists of sales, by entities (organizations, sole traders and partnerships), of software solutions designed to streamline and enhance the management of daycare centers, preschools, nurseries and other childcare facilities. These software platforms serve as comprehensive tools for administrative tasks, parent communication, child development tracking and overall operational efficiency within the childcare industry.
The global daycare management software market was valued at $7,178.4 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.0%.
Increased Disposable Income Per Capita
Increased disposable incomes per capita fueled the growth of the daycare management software market during the historic period. Rising disposable incomes prompt families to prioritize quality childcare, driving demand for daycare facilities. This trend, coupled with the increase in dual-income households, expands the customer base for daycare services. Consequently, there's a growing need for efficient management solutions to streamline operations, leading to heightened demand for daycare management software among providers. For instance, according to the Bureau of Economic Analysis (BEA), a US-based government agency that provides official macroeconomic and industry statistics, disposable personal income per capita in the United States increased to $61,047 in November 2023 from $57,339 in November 2022. Additionally, in February 2023, according to estimates from the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI), India's per capita net national income was INR 172,000 ($2,077.35). This is a nearly 100% increase over the INR 86,647 ($1,046.49) per capita income in 2014-15. Therefore, increased disposable incomes per capita drove the growth of the daycare management software market.
Introduction Of Innovative Products To Offer Extensive Support For Childcare Centers
Companies in the daycare management software market are focusing on innovative products aimed at offering extensive support for childcare centers to address the evolving needs of the childcare industry. These products are designed to provide comprehensive solutions that streamline operations, enhance educational offerings and improve overall efficiency. For instance, in March 2024, Kidsoft, an Australia-based cloud-based Childcare Management System (CCMS) software company, launched Konnect, a new suite of solutions designed to extend key functionality into the classroom environment. Kidsoft Konnect represents a significant advancement, aligning the company's commitment to offer extensive support to its customer community. Furthermore, in March 2023, Procare Software, LLC, a US-based software company, introduced Vine Assessments, a childcare management software, to introduce a new opportunity for childcare centers to enhance their educational services. This platform provides integrated proprietary early childhood assessments for children aged birth to 5 years, with no additional cost to users. Through Procare's classroom-management capability, centers can now integrate assessments seamlessly, enriching their educational offerings.
The global daycare management software market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.04% of the total market in 2022.
Daycare Management Software Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global daycare management software market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for daycare management software? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The daycare management software 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 history and forecasts market growth by geography. It places the market within the context of the wider daycare management software market; and compares it with other markets.