Westford USA, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The increase in the percentage of working parents and the rising participation of women in the workforce are major factors driving the demand for children's day care services. The growing middle-class population, urbanization, and changing lifestyles also contribute to the market's growth. In addition, governments in several countries, especially emerging economies, are taking measures to increase female employment and reduce gender disparities, further boosting the market's growth.
According to SkyQuest's research, the expenditure on children day care services reached 22% of household income for over half of American families in 2022. This trend is expected to gain even more momentum in both developed and developing countries, driving the substantial growth of the children day care services market.
Browse in-depth T.O.C. on "Children Day Care Services Market"
- Pages - 257
- Tables - 64
- Figures – 65
Child day care refers to providing care and supervision for one or more children from infancy to young adulthood by a daycare center, nanny, babysitter, teacher, or other providers. Early childhood care is a vital aspect of a child's development and is crucial in early childhood education systems. In addition, child care providers often serve as children's first teachers, making them an essential part of the education system.
Prominent Players in Children Day Care Services Market
- Bright Horizons Family Solutions Inc.
- Cadence Education LLC
- Busy Bees Daycare LLC
- Global Childrens Center
- G8 Education Ltd.
- Childcare Network
- Growing Room
- Spring Education Group.
- Goddard Systems Inc.
- Kids R Kids International Inc.
- Learning Care Group, Inc.
- JP-Holdings Inc.
- KinderCare Learning Centers LLC
- Primrose Schools
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Center-Based Segment to Continue Dominance under Application Category Thanks to Its Comprehensive Child Development Programs
According to SkyQuest, the center-based segment is set to witness exponential growth from 2022 to 2028 to take a dominant position in the global market. The center-based segment is anticipated register higher revenue growth compared to other segments. Centers offer a comprehensive curriculum that promotes the overall development of children, including literacy, language skills, personality growth, and more.
The Asia Pacific region is predicted to witness the highest growth in the children day care services market. The growth can be attributed to factors such as the large population, increasing urbanization, and rising disposable incomes in the region. Furthermore, regional governments have taken measures to encourage the establishment of daycare facilities, leading to increased demand for these services in recent years. As a result, families increasingly choose daycare centers over relatives for their children's care.
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Child Day Centers Segment to Witness Higher Growth Rate owing to Increasing Working Population Globally
Child care, the practice of looking after young children, is a vital aspect of early childhood development. Often, this care is provided by professional daycare facilities, nannies, or other childcare providers. The count of single-parent households in the US has been on the rise, as per the latest statistics from 2022. It was reported that there were around 11 million single-parent families, most headed by mothers. Single-parent families often face difficulties in providing adequate care for their children, leading them to seek the help of childcare centers to ensure their kids receive the necessary education and attention they need.
The North American region has seen a surge in the children day care services market, largely due to the growing number of families in which both parents work full-time and the increasing cost of living. Furthermore, there has been a growing recognition of the importance of early childhood education, leading to increased demand for child care services in the region.
The children day care services market report provides a comprehensive overview of the market's value chain, which vendors can use to gain a competitive edge during the forecast period. From start to finish, a thorough understanding of the value chain is crucial for maximizing profits and making informed business decisions. The report highlights key mergers, acquisitions, partnerships, product portfolios, product pipelines, and business policies, among other critical market trends.
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Key Developments in Children Day Care Services Market
- Gentex has recently announced its intention to construct a daycare and preschool center on its headquarters grounds in Zeeland. The company is partnering with the ODC Network, a non-profit organization that supports outdoor education and conservation in the West Michigan region, to establish the Gentex Discovery Preschool. The aim is to provide Gentex employees with easy and cost-effective access to quality child care for their children.
- KinderCare Learning Companies has announced plans to acquire Crème de la Crème, the leading premium child care and early education provider in the country, which operates 47 centers across 14 states. KinderCare, already a leader in the field of early childhood education and care, has received the WELL Health-Safety Rating™, a third-party validation of its health and safety practices.
- Winnie, a startup that helps families find child care solutions, has recently expanded its services to help care providers find jobs with fair compensation. Winnie has launched a new child care job marketplace that makes it easier for child care providers to hire staff. The marketplace is accessible to child care providers, staff at other local centers, and parents who want to work at their child's daycare center while being close to their child and receiving tuition discounts.
- The Canadian government is actively working with various territorial, provincial, and Indigenous partners to create a high-quality, accessible, affordable, and inclusive early learning and child care system for families in Canada. These initiatives are meant to guarantee that all families, including those with children who have impairments, have access to early childhood services that are inclusive and tailored to their requirements.
Key Questions Answered in Children Day Care Services Market Report
- What is the predicted size and rate of growth for the market of child daycare services?
- Which market section is expected to yield the most substantial revenue during the forecast period?
- Which regions are likely to offer high business opportunities for market players?
- Which companies have established themselves as the frontrunners in the child daycare services market?
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