Global Children Day Care Services Market 2019-2023 | Rising Trend of High-Value Services to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--May 28, 2019--
The global children day care services market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global children day care services market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing participation of women in the labor force. In the last five years, the female participation in the labor force has witnessed an upward trend owing to the rapid transition in societal mindset coupled with constructive steps taken by governments, especially in emerging economies. Moreover, the continuous rise in health expenditure, child care cost, consumption expenditure, and inflation rate have made it essential for women to step out of their houses and work. Furthermore, measures taken by governments to promote female employment and reduce gender disparity have also played a pivotal role in driving the female employment rate. This is expected to drive the growth of the global child day care services market during the forecast period.
As per Technavio, the rising trend towards high-value services will have a positive impact on the market and contribute to its growth over the forecast period. This global children day care services market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global children day care services market: Rising trend towards high-value services
Children day care services are recognized as a significant expense for working families. The continuous rise in household disposable income, coupled with an upsurge in female labor force participation, has led to a progressive increase in children day care services. Major vendors have also resorted to high-value services such as personalized education, which has further attracted parents to choose for quality children day care services. Moreover, development in the initial stages of a child’s life has been recognized as a crucial factor for the child’s overall growth. Access to high-quality early childhood programs has helped children in earning high test scores throughout their careers. These learning centers expose children to various cognitive and language skills, which help in their overall personality development. As a result, an increasing number of parents are willing to spend on high-quality children day care services.
“Franchisee child day care services have been recognized as the emerging trend owing to an increased demand for high-quality children care services. This provides a potential growth opportunity for investors to opt for day care service franchisees, which will further enhance the revenue of the global children day care services during the forecast period,” says a senior analyst at Technavio.
Global children day care services market: Segmentation analysis
This market research report segments the global children day care services market by application (center-based, and home-based) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the rising middle-class population and increasing incomes of people which is making it easy for them to spend on children day care services.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: EDUCATION OTHER EDUCATION PROFESSIONAL SERVICES BABY/MATERNITY CHILDREN OTHER PROFESSIONAL SERVICES CONSUMER FAMILY
SOURCE: Technavio Research
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PUB: 05/28/2019 08:30 AM/DISC: 05/28/2019 08:31 AM