USD 176.29 bn growth in Children Day Care Services Market |32% of Growth to Originate from APAC|17000+ Technavio Reports

NEW YORK, Dec. 29, 2021 /PRNewswire/ -- 32% of the growth will originate from APAC for the children day care market. China and India are the key markets for children daycare services in APAC. Market growth in this region will be faster than the growth of the market in South America. The rising middle-class population and increasing incomes of people will facilitate the children day care services market growth in APAC over the forecast period.

The children daycare services market is expected to grow by USD 176.29 billion from 2020 to 2025, progressing at a CAGR of  9.23% as per the latest report by Technavio.

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Children Day Care Services Market: Decrease in child mortality rate to drive growth
The world has recorded a considerable decline in the child mortality rate owing to a considerable increase in health awareness and medical advances. The trend of the neonatal death rate has also recorded a downward trend. The neonatal period is the most crucial stage for a child's survival. It is the first four weeks of a child's life. The situation of the infant mortality rate (IMR) has also recorded a downfall trend. The continuous decline in the child mortality rate has played a pivotal role in increasing the revenue of the children daycare services market. The continuous growth in medical advances will further enhance the growth prospect of the market during the forecast period. 

Children Day Care Services Market: Increased cost of raising children may impede the market growth
Raising a child is a very expensive affair in today's era. Parents have to spend a large portion of their income on providing their children with basic necessities. In many families, the cost of child care exceeds the cost of housing, college fees, transportation, and food. This acts as a major challenge, especially for low-income families. Furthermore, for most families, the cost of licensed child care is out of reach. Thus, the increasing cost of child care has been regarded as one of the reasons for the fall in the birth rate. The consistent decline in the fertility rate also has a negative impact on the overall growth rate of the economy. These factors are expected to impede the growth of the children daycare services market during the forecast period.

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Children Day Care Services Market: Segmentation Analysis
This market research report segments the children daycare services market by Application (center-based and home-based) and Geography (APAC, Europe, North America, South America, and MEA).

The children daycare services market share growth by the center-based segment will be significant for revenue generation In center-based children's daycare facilities, there is an increased focus on developing standards-based methods of delivering child care. These centers aim at working on the overall personality development of children. They are more likely to provide an educationally enriched curriculum that promotes literacy, language development, personality development, and others. Furthermore, children get better opportunities to socialize with their peers. These beneficial factors are increasing the demand for center-based children's daycare facilities, thereby increasing the revenue of the market vendors.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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