LONDON--(BUSINESS WIRE)--The preschool market in India is expected to post a CAGR of close to 18% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increasing participation of women in the labor force is one of the key factors anticipated to drive the preschool market in India. Factors such as the rapid transition in the societal mindset, increasing female education, availability of employment opportunities, and rising household expenditure have increased the participation rate of women in the labor force. In addition, several supportive measures undertaken by the government of India towards promoting female employment and reducing gender disparity have driven the female employment rate. As a result, with more and more women joining the workforce, the demand for childcare facilities and preschools is likely to surge considerably during the forecast period.
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As per Technavio, the rising trend of high-value services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Preschool Market in India: Rising Trend of High-value Services
The demand for high-value services incorporated with conventional playschool systems has increased considerably in recent years. Vendors in the market have started to offer daycare facilities for children. Services such as personalized education programs, secure access systems, real-time closed-circuit television (CCTV) access, and temperature-controlled indoor environments are attracting working parents toward modern preschools. In addition, with an increasing inclination of parents toward developing cognitive and language skills of their children during formative years, the demand for high-quality early childhood learning programs has increased in recent years. Thus, increasing number of parents are willing to spend on high-quality services offered at playschools. This will drive the preschool market in India.
“Rising disposable income, growing trend of corporate playschools, and increasing emphasis on teacher training are a few other factors that will further boost the preschool market growth in India during the forecast period”, says a senior analyst at Technavio.
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Preschool Market in India: Segmentation Analysis
This market report segments the preschool market in India by area (urban and rural) and age group (children aged 3-6 years and children aged below 3 years).
The urban area segment led the preschool market share in India during 2019. This segment will account for the highest incremental growth in the Indian preschool market due to the greater penetration of branded preschools in tier 1 and tier 2 cities, coupled with the rising income of the population in urban areas. Furthermore, growing transformation in the Indian education sector along with the growing awareness among parents about the importance of early childhood education will further drive the preschool market in urban India during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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