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.
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Technavio has announced its latest market research report titled Global Childcare Management Software Market 2020-2024 (Graphic: Business Wire)
Globally, there has been a growth in the number of women working in organized sectors. This can be attributed to a number of initiatives undertaken by successive governments on women empowerment. In addition, many countries across the Middle East, Asia, and Africa are witnessing steady growth in women’s salaries. With the growth in the women workforce, the demand for childcare services is increasing among parents. These factors are providing significant growth opportunities for childcare centers, which is encouraging them to invest in childcare management software to track the progress of children. Thus, the increase in the women workforce is expected to fuel the growth of global childcare management software during the forecast period.
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The major childcare management software market growth came from the on-cloud deployment segment. This is due to the increased demand for cloud-based childcare management solutions from small-scale private childcare centers.
North America was the largest market for childcare management software in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increased expenditure on childcare and education by governments in the region.
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 global childcare management software market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Application of artificial intelligence (AI) for better childcare management will be a key market trend
Market vendors are focusing on the integration of AI to increase the effectiveness of their services. The adoption of AI also offers various benefits to end-users. It improves the overall development plan of the childcare center, upgrades the