Childcare Management Software Market is propelled by Integration of AI into Childcare System by 2027
NEW YORK, UNITED STATES, November 26, 2021 /EINPresswire.com/ — According to The Insight Partner’ new research study on “Childcare Management Software Market to 2027 – Global Analysis and Forecasts By Deployment (On-Premise, Cloud- Based); Solution (Family and Child Data Management, Attendance Tracker, Accounting, Time and Activity Management, Nutrition Management, Others)”, market is estimated to account US$ 144.2 Mn in 2018 and is expected to grow at a CAGR of 7.8% during the forecast period 2018 – 2027, to account to US$ 293.9 Mn by 2027
Market Size Value in – US$ 144.2 Million in 2018
Market Size Value by – US$ 293.9 Million by 2027
Growth rate – CAGR of 7.8% from 2019-2027
Forecast Period – 2019-2027
Base Year – 2019
No. of Pages – 136
No. Tables – 54
No. of Charts & Figures – 66
Historical data available – Yes
Segments covered – Deployment; Solution
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The upsurge in the number of daycare centers
In the present scenario, working professionals commit most of their time in workspaces and are unable to concentrate on personal life. This has compelled them to opt for daycare centers for their children to groom their learning abilities. Enrollment of kids aged 2–5 is more across preschools, kindergarten, or daycare centers. Preprimary programs, include kindergarten and preschool programs, provide educational experiences, whereas childcare runs daycare programs that exclude educational programs. This factor plays a major role in deciding an appropriate enrollment program. Every day, a huge number of children are being enrolled in daycare centers; this demands an efficient system to manage the regular activities of kids. Therefore, the scope of the childcare management system is gaining momentum across the world. Thus, it drives the childcare management software market.
Upcoming technological developments in the childcare system
The availability of features such as video streaming, ChatBot, and many more are anticipated to provide ample growth opportunities to the existing players offering childcare management software. The integration of the aforementioned features helps parents monitor their child along with continuous communication. In case of any emergency, parents can convey their message directly to the admin of daycare center/preschool through video streaming or ChatBot.
Impact of COVID-19 Pandemic on Childcare Management Software Market
The outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a rapid pace across the world. The COVID-19 crisis is affecting the industries worldwide, and the global economy has witnessed the worst hit in 2020, which is likely to continue in 2021. The outbreak has created significant disruptions in primary industries such as logistics, retail, and e-commerce, and others; the sharp decline in international trade is negatively impacting the growth of the global economy. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak are affecting the businesses. The continuous loss in the business due to the lockdown measures is expected to directly impact the growth of the investments in security solutions worldwide. The disrupted business activities and product sales are expected to hinder the growth rate of the Childcare Management Software market.
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Geographically, North America holds the largest childcare management software marketshare, owing to rapid technological developments, and numerous investments as well as initiatives taken by the government across North American countries. The growing number of women are being employed in the region, which has resulted in achieving additional economic growth. Recently, in February 2019, the Trump government announced the Women’s Global Development and Prosperity (W-GDP) Initiative, which targeted to reach 50 million women by 2025 with the help of US government activities, a new, innovative fund, and private-public partnerships. The government announced the first round investment for four new projects, which include 200 public and private-sector partnerships across 22 countries in the region. This factor is upsurge the growth of the revenue size of the childcare management software market in the North American region. This, as a result, has positively impacted the childcare management software market.
Solutions Segment Insights
The childcare management system market by the solution is segmented into family and child data management, attendance tracker, accounting, time and activity management, nutrition management, and others. The accounting feature of the childcare management software consists of family accounting and agency accounting. Family accounting is the accounts receivable and billing software developed for daycare providers, childcare centers, and preschool administrators. Under family accounting, it shows family account balance, account activity reports, bank deposit reports, aging reports, and other billing reports. These factors resulted in the steady growth of the childcare management software market.
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iClassPro announced a partnership with Sweet Peas Educational Gymnastics to promote physical, social and cognitive development in children 6 months to 6 years old.
KidCheck announced Check-In Passes feature which creates various pre-paid options for members to purchase childcare ahead.
HiMama released childcare software which offers new management feature for child care administrators.
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Source: EIN Presswire