Child Day Care Services Market Size:
The global child day care services market was valued at around $170 billion in 2017. North America was the largest region in the child day care services market in 2017, accounting for around 45% market share. The USA was the largest country in the market in 2017, accounting for around 30% market share.
Child Day Care Services Market Overview:
Child day care centers are leveraging technologies to allow parents to stay connected with their children when they are away for work. Many day care centers are using apps to provide video streaming of classroom activities and send pictures of kids to parents. This technology enables parents to monitor their child activities at the care center by accessing videos and pictures. For instance, Trust Child Care Centers partnered with Parent Care Network to provide video over the internet to parents where they can monitor child activities at the daycare center. Cresthill Academy is utilizing technology to maximize communication and connection by providing information about child’s activities.
According to The Business Research Company’s Consultant, Nitin Gianchandani, companies are offering corporate child care services to help employees to achieve work life balance. Corporate child care is a specific form of child care sponsored or managed by an employer. Companies are either offering in-house
child care centers or partnering with the local child care centers to offer the services at discounted rates as a perk for attracting and retaining top employees. For instance, Goldman Sachs has opened an on-site day care center in their offices in Tokyo and New York. In locations where they are not able to provide onsite nursery facilities, Goldman Sachs has partnered with local day care centers. Exxon Mobil has selected Bright Horizons to operate child day care center in Houston campus.
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Bright Horizons Family Solutions Inc. was the largest competitor in the child day care services market in 2017, with revenues of $1.5 billion for the financial year 2016. Bright Horizons Family Solutions growth strategy aims at increasing market share and expanding its operations through acquisitions. In November 2016, the company acquired Asquith Day Nurseries & Pre-Schools for approximately $206 million. The company also acquired four centers in the United States and eight centers in the United Kingdom in four separate business acquisitions for $18 million. In May 2015, Bright Horizons acquired Hildebrandt Learning Centers, LLC, for $19.2 million.
Child day care services market is segmented into In-Home Care Services, Family Child Care, and Center-Based Care segments.
In-Home Care Services are provided by nannies, au pairs, or friends and family. The child is watched inside their own home or the caregiver`s home.
Family Child Care providers care for children in the provider’s own home. The children in family child care are generally in a mixed age group with a low adult to child ratio. The cost of care in a family child care is usually lower on average than that of a center based care center. The care provided in family child care services is more personalized.
Center-Based Care provides a standardized and regulated system of care for children. Some companies partner with center based care providers to offer child care services at their facilities for employees of children. Center-based care centers generally prepare children by providing skills development and readiness training, and also focuses on health and social development.
Child Day Care Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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