LONDON–(BUSINESS WIRE)–The global childcare management software market size is poised to grow by USD 62.21 million during 2020-2024, progressing at a CAGR of about 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
There are a number of initiatives taken up by developed and developing countries to promote women’s engagement in the mainstream workforce. With a growing number of women shifting from the unorganized to the organized sector, there is an increase in women’s salaries in developing regions such as Asia, the Middle East, and Africa. Because of the rise in women workforce, there is an increase in the number of parents registering for childcare services. Childcare centers are investing in childcare management software to track the progress of a child without human interference. The increasing women workforce will be one of the significant factors that will fuel the childcare management software market growth during the forecast period.
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- The major childcare management software market growth came from the on-cloud deployment segment. The on-cloud deployment of childcare management software is a lucrative segment. This deployment method eliminates the need for customers to own hardware for running the application, thereby reducing their operational costs. The software can be accessed by any device such as laptops, smartphones, and tablets with an Internet connection. The presence of small-scale private childcare centers will drive the growth of the market segment by volume.
- North America was the largest childcare management software market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The shift toward the digitization of operations and the increasing demand for childcare facilities will significantly drive childcare management software market growth in this region over the forecast period.
- The global childcare management software market is fragmented. Childcare Sage, EZChildTrack, Hi Mama Inc., Jackrabbit Technologies Inc., Kangarootime, Ladder Software, Procare Software LLC, SmartcareOS LLC, SofterWare Inc., and Tadpoles LLC. are some of the major market participants. To help clients improve their market position, this childcare management software market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the childcare management software market 2020-2024 is expected to have Positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/childcare-management-software-market-industry-analysis
Application of Artificial Intelligence (AI) for Better Childcare Management will be a Key Market Trend
The application of artificial intelligence (AI) for better childcare management, one of the vital childcare management software market trends will also influence the growth of this market. Childcare management software providers are gradually adopting AI to increase the effectiveness of services. AI can be used to strategize the overall development plan of the center, upgrade existing curriculum based on local needs, and provide training to teaching staff to upscale their skillsets. The technology can also be used to give suggestions to parents about the needs of their children. Such benefits will propel the adoption of AI in childcare management software, which, coupled with the rise in women workforce, will drive childcare management software market growth.
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Childcare Management Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist childcare management software market growth during the next five years
- Estimation of the childcare management software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the childcare management software market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of childcare management software market vendors
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View market snapshot before purchasing
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment
- On-cloud – Market size and forecast 2019-2024
- On-premise – Market size and forecast 2019-2024
- Market opportunity by Deployment
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Childcare Sage
- Hi Mama Inc.
- Jackrabbit Technologies Inc.
- Ladder Software
- Procare Software LLC
- SmartcareOS LLC
- SofterWare Inc.
- Tadpoles LLC
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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