Social Assistance Market Size:
The global social assistance market was valued at over $1 trillion in 2017. Asia Pacific was the largest region in the social assistance market in 2017, accounting for around 43% market share. China was the largest country in the market in 2017, accounting for around 19% market share.
Social Assistance Market Overview:
Social assistance providers are increasingly using a data-driven approach such as big data and predictive analytics to gather deep insights of foster kids and kids from low-income group sections. Predictive analytics involves the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. Big data analytics involves extracting hidden patterns and useful information from a large set of data. These techniques help in reporting, detecting, or correcting a non-compliance while monitoring target population.
Asia Pacific was the largest region in the social assistance market in 2017, accounting for two-fifth of the market share. This was mainly due to the large size of the region’s population and economy and the presence of a large number of community service establishments and child day care centers catering to a large customer base in countries such as China, India, Japan, Thailand, Vietnam, Myanmar, and other Asian countries.
According to The Business Research Company’s Consultant, Nitin Gianchandani, food banks are becoming popular and are adopting technologies and exploring alternatives to distribute food to people in temporary shelters, community centers and other low-income group locations. Food banks are non-profit organizations that collect, store, and distribute food to those in need. Many food banks now have mobile food pantries or food trucks to deliver refrigerated and dry foods directly to people in schools and low-income and senior housing facilities. For instance, the digital ordering system at a mobile food pantry in Philadelphia allows recipients to choose items using a mouse or touchscreen. Also, Ontario Association of Food Banks in partnership with IBM developed a new food bank allocation system to make food distribution faster, more efficient, and more equitable. In 2016, the number of people using food banks in the U.K. increased by 7%, thus indicating the increasing popularity of food banks to serve low-income group population.
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Bill & Melinda Gates Foundation was the largest organization in the social assistance market in 2017, which received a total contribution of $6.2 billion for the financial year 2015. The Gates Foundation is a private foundation founded by Bill and Melinda Gates in 2000. In developing countries, it focuses on improving people’s health and eradicate hunger and extreme poverty. In USA, it seeks to ensure that people with very few resources have access to the opportunities they need to succeed in school and life.
The social assistance market is segmented into Community And Individual Services and Child Day Care Services.
Child Day Care Services includes establishments involved in providing day care for infants or children. They provide care for pre-school children, and offer pre-kindergarten and kindergarten educational programs. For example, this industry includes child day care babysitting services, nursery schools, child or infant day care centers, and pre-school centers.
Community And Individual Services includes establishments involved in collecting, preparing, and delivering food for the needy, providing short-term emergency shelter, temporary residential shelters, transitional housing, and providing food, shelter, clothing, medical relief, resettlement, and counselling to victims of domestic or international disasters.
Social Assistance Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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