Dublin, Nov. 28, 2024 (GLOBE NEWSWIRE) -- The "Daycare Management Software Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global daycare management software market reached a value of nearly $9 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.7% since 2018. The market is expected to grow from $9 billion in 2023 to $12.6 billion in 2028 at a rate of 6.9%. The market is then expected to grow at a CAGR of 5.1% from 2028 and reach $16.2 billion in 2033.
Going forward, strong economic growth in emerging markets, initiatives to improve the quality of childcare, increasing concerns about child safety and rapid urbanization will drive the growth. Factors that could hinder the growth of the daycare management software market in the future include high initial investment costs.
The daycare management software market is segmented by type into cloud-based software and on-premises software. The cloud-based software market was the largest segment of the daycare management software market segmented by type, accounting for 64.1% or $5.8 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the daycare management software market segmented by type, at a CAGR of 7.2% during 2023-2028.
The daycare management software market is segmented by solution into family and child data management, attendance tracker, accounting, time and activity management, nutrition management and other solutions. The nutrition management market was the largest segment of the daycare management software market segmented by solution, accounting for 30.1% or $2.7 billion of the total in 2023. Going forward, the accounting segment is expected to be the fastest growing segment in the daycare management software market segmented by solution, at a CAGR of 8.8% during 2023-2028.
The daycare management software market is segmented by application into daycare centers, kindergarten and other children care facilities. The daycare centers market was the largest segment of the daycare management software market segmented by application, accounting for 53.3% or $4.82 billion of the total in 2023. Going forward, the other children care facilities segment is expected to be the fastest growing segment in the daycare management software market segmented by application, at a CAGR of 8% during 2023-2028.
North America was the largest region in the daycare management software market, accounting for 43.1% or $3.9 billion of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the daycare management software market will be Asia Pacific and South America where growth will be at CAGRs of 10.3% and 8.7% respectively. These will be followed by Western Europe and Middle East where the markets are expected to grow at CAGRs of 6.8% and 6.3% respectively.
The global daycare management software market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.04% of the total market in 2022. Brightwheel Inc. was the largest competitor with a 0.68% share of the market, followed by Procare Solutions with 0.64%, Famly with 0.21%, Jackrabbit Tech with 0.15%, Kangarootime Inc. with 0.08%, Childcare Sage Software with 0.06%, iCare Software Inc. with 0.06%, LineLeader by ChildcareCRM with 0.06%, TimeSavr with 0.06% and Childwatch Corp. with 0.05%.
The top opportunities in the daycare management software market segmented by type will arise in the cloud-based software segment, which will gain $2.4 billion of global annual sales by 2028. The top opportunities in the daycare management software market segmented by solution will arise in the nutrition management segment, which will gain $1.3 billion of global annual sales by 2028. The top opportunities in the daycare management software market segmented by application will arise in the daycare centers segment, which will gain $1.9 billion of global annual sales by 2028. The daycare management software market size will gain the most in the USA at $1.1 billion.
Market-trend-based strategies for the daycare management software market include introduction of innovative products to offer extensive support for childcare centers, launch of mobile applications to track children's cognitive development, development of AI assistants to help families manage childcare tasks, strategic acquisitions to expand product range and focus on new investments for providing better maternity and child care services.
Player-adopted strategies in the daycare management software market include focus on improving portfolio through investments to support both providers and families and establishing as the preferred operating system of the early education industry, focus on improving portfolio through product launches to offer extensive support for childcare centers to address the evolving needs of the childcare industry, expanding business capabilities through investments to boost mission to transform parent-teacher collaboration in early childhood education and focus on improving portfolio through mergers and acquisitions for expanding market presence and enhancing product offerings in the competitive childcare software market.
To take advantage of the opportunities, the analyst recommends the daycare management software companies to focus on offering comprehensive solutions, focus on mobile applications for cognitive development tracking, focus on AI-assisted calendar and childcare management, focus on enhancing maternity and childcare services, focus on cloud-based software solutions, focus on accounting solutions, focus on strategic acquisitions for market expansion, expand in emerging markets, continue to focus on developed markets, focus on pricing strategies for market competitiveness, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, leverage digital marketing channels for targeted outreach, establish strategic partnerships for extended reach and credibility and focus on effectively targeting daycare centers for software solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 292 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $9 Billion |
| Forecasted Market Value (USD) by 2033 | $16.2 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Major Market Trends
- Introduction of Innovative Products to Offer Extensive Support for Childcare Centers
- Launch of Mobile Applications to Track Children's Cognitive Development
- Development of AI Assistants to Help Families Manage Childcare Tasks
- Strategic Acquisitions to Expand Product Range
- Focus on New Investments for Providing Better Maternity and Child Care Services
Daycare Management Software Markets Covered:
- Type: Cloud-Based Software; On-Premises Software
- Application: Daycare Centers; Kindergarten; Other Children Care Facilities
- Solution: Family and Child Data Management; Attendance Tracker; Accounting; Time and Activity Management; Nutrition Management; Other Solutions
Competitive Landscape and Company Profiles
- Brightwheel Inc.
- Procare Solutions
- Famly
- Jackrabbit Tech
- Kangarootime Inc.
Daycare Management Software Market Other Major and Innovative Companies
- Childcare Sage Software
- ICare Software Inc.
- LineLeader by ChildcareCRM
- TimeSavr
- Childwatch Corp.
- MiniMinders Inc.
- TUIO Payments Inc.
- KinderSystems
- Tadpoles
- Bright Day Big Blocks
- LifeCubby
- Storypark Ltd
- Kindertales
- Kindyhub
- Bloomz Inc.
Key Mergers and Acquisitions
- KangarooTime Acquired Clay
- Roper Technologies Acquired Procare Software
- Guardian Childcare and Education Acquired MSREI's Australian Childcare Business
- KidsKonnect Acquired Blossom Educational
- ChildcareCRM Acquired MomentPath
- Procare Solutions Acquired ChildPlus Software
- Vanco Acquired Smartcare
For more information about this report visit https://www.researchandmarkets.com/r/aqgbyt
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