Dublin, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The "Community And Individual Services Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global community and individual services market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.
The global community and individual services market reached a value of nearly $1,249.3 billion in 2021, having increased at a compound annual growth rate (CAGR) of 5.5% since 2016. The market is expected to grow from $1,249.3 billion in 2021 to $1,955.4 billion in 2026 at a rate of 9.4%. The market is then expected to grow at a CAGR of 9.5% from 2026 and reach $3,078.6 billion in 2031.
Growth in the historic period resulted from increased aging population, strong economic growth in emerging markets, technology development and mobile apps and government funding for community care. Factors that negatively affected growth in the historic period were lack of funding for social services, insufficient training of carers and weak wage growth in developed economies.
Going forward, preferring community stay, rapid growth in the aging population, changes in lifestyles, increasing healthcare access and increasing household incomes will drive market growth. Factors that could hinder the growth of the community and individual services market in the future include skilled workforce shortages.
The community and individual services market is segmented by type into community food, housing, and relief services, individual and family services. The individual and family services market was the largest segment of the community and individual services market segmented by type, accounting for 63.8% of the total in 2021 and community food, housing, and relief services segment is expected to be the fastest growing segment going forward, at a CAGR of 7.2% during 2021-2026.
The community and individual services market is segmented by mode into offline and online. The offline market was the largest segment of the community and individual services market segmented by mode, accounting for 80.7% of the total in 2021 and online segment is expected to be the fastest growing segment going forward, at a CAGR of 15.5% during 2021-2026.
The community and individual services market is segmented by application into food stamp program, disaster relief services, adoption services and self-help. The food stamp program market was the largest segment of the community and individual services market segmented by application, accounting for 37.4% of the total in 2021 and adoption services segment is expected to be the fastest growing segment going forward, at a CAGR of 10.2% during 2021-2026.
Western Europe was the largest region in the global community and individual services market, accounting for 47.1% of the total in 2021. It was followed by Asia-Pacific, North America, and then the other regions. Going forward, the fastest-growing regions in the community and individual services market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 12.3% and 11.7% respectively. These will be followed by Africa and Middle East, where the markets are expected to grow at CAGRs of 11.2% and 10.5% respectively, during 2021-2026.
The community and individual services market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 1.11% of the total market in 2020. Major players in the market are World Food Program, Unicef, Sanctuary Housing, Food For Poor, Bill & Melinda Gates Foundation, W.K. Kellogg Foundation Trust, THE SALVATION ARMY INTERNATIONAL TRUST, Seacor Holdings Inc.
The top opportunities in the community and individual services market segmented by type will arise in the individual and family services segment, which will gain $518.1 billion of global annual sales by 2026. The top opportunities in the community and individual services market segmented by mode will arise in the offline segment, which will gain $450.1 billion of global annual sales by 2026. The top opportunities in the community and individual services market segmented by application will arise in the adoption services segment, which will gain $275.8 billion of global annual sales by 2026.
Market-trend-based strategies for the community and individual services market include adult day care going high-tech, data-driven approach to human services, online funding platforms to support social initiatives, autism care centers, telehealth to improve underserved community services, individualized service plans, adoption of electronic health records (EHR) and artificial intelligence (AI) in childcare management.
To take advantage of the opportunities, The Business Research Company recommends the community and individual services companies to focus on technology-driven services, focus on providing online funding services, invest in integrated care services, focus on emerging markets, offer competitively priced services, provide affordable digital care services, focus on older population and focus on priority to child care services.
Companies Mentioned
- World Food Program
- UNICEF
- Sanctuary Housing
- Food For Poor
- Bill & Melinda Gates Foundation
Key Topics Covered:
1. Community And Individual Services Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
6.1.1. Segmentation by Geography
6.1.2. Segmentation by Type
6.1.3. Segmentation by Mode
6.1.4. Segmentation by Application
7. Community And Individual Services Market Characteristics
7.1. Market Definition
7.2. Segmentation by Type
7.2.1. Community Food, Housing, and Relief Services
7.2.2. Individual And Family Services
7.3. Segmentation by Mode
7.3.1. Offline
7.3.2. Online
7.4. Segmentation by Application
7.4.1. Food Stamp Program
7.4.2. Disaster Relief Services
7.4.3. Adoption Services
7.4.4. Self-Help
8. Community And Individual Services Market, Product/Service Analysis - Product/Service Examples
9. Community And Individual Services Market, Supply Chain Analysis
9.1.1. Resources
9.1.2. Community and Individual Service Providers
9.1.3. End Users
10. Community And Individual Services Market Customer Information
10.1. Increased Donations When Considered In Annual Budget
10.2. Taking Part and Donating to Charity In Community Service
10.3. Sheltering People Due To COVID-19
10.4. Government Assistance To Individuals Without Homes
11. Community And Individual Services Market Trends And Strategies
11.1. Adult Day Care Going High-Tech
11.2. Data-Driven Approach To Human Services
11.3. Online Funding Platforms To Support Social Initiatives
11.4. Autism Care Centers
11.5. Telehealth To Improve Underserved Community Services
11.6. Individualized Service Plans
11.7. Adoption Of Electronic Health Records (EHR)
11.8. Artificial Intelligence (AI) In Childcare Management
12. Impact Of COVID-19 On The Community And Individual Services Market
12.1. Introduction
12.2. Change In Demand For Elderly And Person With Disabilities Services
12.3. Increase In Demand For In-Home Care Services
12.4. Increase In Demand For Medical Relief
12.5. Impact On Companies
12.6. Future Outlook
13. Global Community And Individual Services Market Size And Growth
13.1. Market Size
13.2. Historic Market Growth, 2016 - 2021, Value ($ Billion)
13.2.1. Drivers Of The Market 2016 - 2021
13.2.2. Restraints On The Market 2016 - 2021
13.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Billion)
13.3.1. Drivers Of The Market 2021 - 2026
13.3.2. Restraints On The Market 2021 - 2026
14. Community And Individual Services Market, Regional Analysis
14.1. Global Community And Individual Services Market, by Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion)
14.2. Global Community And Individual Services Market, 2016 - 2026, Historic And Forecast, by Region
14.3. Global Community And Individual Services Market, 2021 - 2026, Growth And Market Share Comparison, by Region
For more information about this report visit https://www.researchandmarkets.com/r/obwgps
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