LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the preschool or child care market in India is expected to grow at a CAGR of close to 22% during the forecast period.
This research report titled ‘Preschool or Child Care Market in India 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Based on Technavio’s findings on the preschool or child care market in India, only 1% of the population under age 6 is enrolled in preschool education. This leaves a gigantic scope for the market to grow during the forecast period. With more families migrating to urban cities owing to better employment opportunities, the demand for reputed private preschools will register a strong growth.
Jhansi Mary, a lead analyst at Technavio for research on K12 and higher education, says, “Increased number of working women has been a major driving factor contributing to the growth of the preschool or child care market in India. This growth in the female labor force has led to the rise in the preschool enrollment rate. This is because working women with children choose to send their children to day care centers or preschools while they are at work. An increase in the number of working mothers led to an increase in the disposable income in dual-income households, which has led to higher average household income.”
According to World Bank, in 2014, women constituted 48.2% of the total Indian population, of which 27% took part in the labor force. Young women from rural areas are moving to Tier 1 and Tier 2 cities in India for better opportunities. It is estimated that more 60% of women in urban areas are employed in the public and private sectors.
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The report categorizes the preschool or child care market in India into two segments based on ownership:
- Organized preschools
- Unorganized preschools
Preschool or child care market in India by ownership 2015 (% share)
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| Organized preschools | 33%-40% | |
| Unorganized preschools | 67%-60% | |
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Source: Technavio |
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In 2015, the preschool or child care market in India was dominated by the unorganized sector with a market share ranging between 60% and 67%. The growth in the unorganized ownership of preschools is due to the lack of proper regulation for establishment of preschool or child care services and no mandatory curricula that are to be followed by institutions.
Technavio researchers predict the ownership of the organized preschools to increase slightly in 2020 as the government of India is planning to regulate the Early Childhood Care and Education activities to ensure quality education and provide appropriate standards to all children in the country. This regulation may lead to the downfall of the market share occupied by the unorganized preschools. Many nonprofit organizations are also providing child care facilities in major cities.
“With the implementation of Early Childhood Care and Education by the government, awareness will be generated among parents in rural areas regarding the preschool education. The quality of the education will also improve as all institutions will be required to follow mandatory regulations and curricula to provide preschool education to children,” asserts Jhansi.
Vendor Spotlight:
Kidzee
Kidzee is the largest preschool chain in Asia and pioneer in Early Childhood Care and Education. With an incredible network of more than 1500+ centers in over 550+ cities, it is committed to spearheading child development across the nation. Having touched the lives of more than 400,000 children in India, Kidzee remains focused on nurturing the ‘unique potential’ in every child.
EuroKids
EuroKids was established in 2001 and is headquartered in Mumbai, Maharashtra, India. The company offers several preschool and kindergarten programs, which help in laying down the foundation for children’s futures and prepares them for regular school. It runs a chain of preschools and training institutions in India.
Other top vendors highlighted by Technavio’s education research analysts in this report include:
- Modern Montessori International
- Tree House
The other prominent vendors in the market include Shemrock, Mother’s Pride, Apple Kids, Kangaroo Kids, Globe Tot’ers, Smartkidz, and Little Elly.
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