Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "U.S. Child Care Market Size, Share & Trends Analysis Report By Type (Early Care, Early Education & Daycare, Backup Care), By Delivery Type (Organized Care Facilities, Home-based Settings), By Age Group, By States, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. child care market size is anticipated to reach USD 91.68 billion by 2030, growing at a CAGR of 5.86% from 2024-2030
This growth can be attributed to the high demand for early education centers, growing awareness of early education, and the increasing number of working parents. 
The Boston Opportunity Agenda and the Birth to Eight Collaborative 2023 report stated that although Boston officials have invested significantly in developing early childhood education, there is still a lack of affordable opportunities to meet the demand. As a result, approximately 15,000 children aged 5 years and below cannot access early childhood education & care due to insufficient seats. This is expected to boost the demand for early education and childcare services in Massachusetts and other states.
Lawmakers of the Biden government proposed a new child care bill in February 2023 to increase the affordability of child care for families across the U.S. In addition, the development of learning technologies for children is creating new opportunities in the market. For instance, Starfall, a popular learning tool for children, offers engaging activities and games that utilize advanced technology to teach art, languages, and mathematics. Its software and online portal are transforming the child care market in the U.S.
During the COVID-19 pandemic, facilities were temporarily closed due to government restrictions. Despite the risk of infection, services resumed shortly after, resulting in higher operating costs for service providers. The Center for American Progress reported a 47% increase in operating costs in 2020 for child care services. Home-based services saw an even greater increase of 70% since the pandemic. These high costs have had a negative impact on the market and worsened affordability issues.
U.S. Child Care Market Report Highlights
- Based on type, the early education & daycare segment dominated the market in 2023. This can be attributed to the partnership by child development & early education centers with employers to support employee child care and the adoption of advised technology aiming at the transformation of just daycare into proper early education.
- Based on delivery type, the organized care facilities segment dominated the market in 2023. This is due to the growing requirement for more facilities as a result of the increasing number of families with both parents working and single-parent families.
- Based on age group, the school-aged children segment dominated the market in 2023. However, the infants' segment is predicted to have the fastest growth during the forecast period, owing to the growing field due to the high participation of mothers in the work force.
- Southeast U.S. dominated held the largest market share in 2023 and is expected to showcase the fastest CAGR during the forecast period, owing to the well-developed infrastructure and increasing economic opportunities.
- The COVID-19 pandemic has resulted in a marked increase in the demand for home-based services. A number of corporate organizations have proactively supported their employees through the facilitation of remote work arrangements, thereby contributing to the growth of the trend towards home-based services.
- In September 2023, Bright Horizons Family Solutions opened Bright Space for children at the Newton Police Department Headquarters, Newton, Massachusetts. The program aims to provide an enhanced environment for play that is safe, cheerful, fun, and inviting for children in their care.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $61.7 Billion |
| Forecasted Market Value (USD) by 2030 | $91.68 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | United States |
Market Dynamics
Market Driver Analysis
- High demand for child care & early education
- Trend of providing onsite care facilities
- Initiatives by government organizations
Market Restraint Analysis
- High service costs
- Supply of child care services across U.S.
Qualitative Analysis: Child Care Programs for the following
- Corporate Offices
- Hospitals
- Universities/Schools
- Government Employees
Qualitative Analysis: Trends of References for Child Care Programs (Social Media, Local Newsletters, Communities, etc.)
Business Environment Analysis Tools
- Industry Analysis - Porter's Five Forces Analysis
- PESTEL Analysis
Impact of COVID-19 on Child Care
Number of Licensed Child Care Centers in U.S. by States
Competitive Landscape
- Company Categorization
- Company Market Position Analysis
- Strategy Mapping
- Expansion
- Acquisition
- Collaborations
Company Profiles
- Bright Horizons Family Solutions
- KinderCare Learning Centers LLC.
- Learning Care Group, Inc.
- Spring Education Group
- Cadence Education
- The Learning Experience
- Childcare
- Kids 'R' Kids
- Primrose Schools
- BrightPath Kids
- Winnie, Inc.
- Care.com
- NeighborSchools, Inc.
- SitterTree., LLC
For more information about this report visit https://www.researchandmarkets.com/r/s93hvi
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