The global child care market is set to grow. From $4.9 b in 2020 to $11.2 b in 2027
A recent report released by Reportlinker.com predicts that the global preschool or child care market will be perched at around the US $11.2 billion by 2027. The CAGR is estimated at 12.7% for the period 2020–27. The report also includes the advent of novel daycare center software that fuels this growth.
Market trends
The US is the largest market for preschoolers in the world. It was estimated to be $1.3 billion in 2020. It is slated to reach $2 billion by 2027 on an estimate of 12.7% compound annual growth rate. For the same period, China will post a 16.6% annual growth. Canada (11.1%), Germany (10%), and Japan (9%) are other high growth markets in the next seven years.
Growth despite COVID crisis
Who can forget the challenging time’s everyone had in 2020. The lockdown was a huge blow for the child care industry. It made the preschool owners think of new ways to sustain themselves. And as 2021 begins, the scare of pandemic still looms large. But market reports are showing that this growth is imminent. At 12.7% annual growth, the USA is the largest market in the world. But how will it happen?
A new approach to childcare management
The report gives amazing stats on how the best educational software for preschoolers is driving this growth. Big players like SHEMROCK Group of Preschools, Kangaroo Kids, and EuroKids have diversified their strategies. What was earlier an institution-based care is now delivered at home too. This is the new approach to learning and child care that will drive this mega growth in the next seven years.
One of the best innovations has happened only in the last couple of years. Very advanced childcare software enables preschools to ensure care and learning either from home or school. The software’s like Zinbucks, BrightWheel, or Sandbox has given the power back to preschools.
The fastest growing platform
Zinbucks is the most advanced platform when it comes to child care. The platform is a great success for preschools looking for better performance and delivers more care for the young ones. This is achieved by empowering the teachers and aligning with parents to deliver the most advanced child care environment for all those involved. The platform offers the most advanced features like face recognition safety, automated billings, a creative nudge experience for the users, and a smooth transition to virtual learning.
