LONDON--(BUSINESS WIRE)--The childcare management software market is expected to grow by USD 62.21 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
Many developing and underdeveloped economies across the world have launched various initiatives for women empowerment. This has resulted in a significant rise in the number of women working in both organized as well as unorganized sectors. With expansion of the women workforce, the demand for childcare centers, daycares, creche, and playschools has increased across the world. In addition, parents often opt for childcare centers to ensure the wholistic development of children in the early years. These childcare centers rely on childcare management software to track real-time activities of the wards and provide parents with the overall progress report of their children. These factors are crucial in driving the growth of the global childcare management software market.
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As per Technavio, the application of artificial intelligence (AI) for better childcare management will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Childcare Management Software Market: Application of Artificial Intelligence (AI) for Better Childcare Management
The manual screening process of admission applications is lengthy, time-consuming, and is prone to human errors and bias. Modern technologies such as AI are expected to ease such bottlenecks and increase the efficiency of the admission process. Prominent market players, such as Fujitsu, are developing game theory-based AI algorithms that can perform such processes in seconds, thus saving significant amount of time. AI can also be used to upgrade the curriculum based on local needs and to provide training to the staff to improve their skillsets. Further, childcare centers can leverage AI to analyze parents’ background and prepare a list of activities that parents can exercise to improve the performance of the children. The integration of AI with childcare management software is hence, expected to have a positive impact on the growth of the market during the forecast period.
“Increasing use of mobile applications for monitoring daily activities and progress of a child and the growing corporate support for employees with children will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Childcare Management Software Market: Segmentation Analysis
This market research report segments the childcare management software market by deployment (on-cloud and on-premise) and geographic landscape (North America, Europe, APAC, South America, and MEA).
The North America region led the childcare management software market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the presence of well-defined public welfare policies that provide easy access to affordable and quality childcare in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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