The Business Research Company’s Social Services Global Market Report 2021: COVID-19 Impact and Recovery to 2031
LONDON, GREATER LONDON, UK, January 6, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Social services industry trends include child day care centers leveraging technologies to facilitate parents staying connected with their children. Many daycare centers are using apps to provide video streaming of classroom activities and send pictures of kids to parents. This technology enables parents to monitor their child at the care center by accessing videos and pictures of kids at child day care centers. For instance, in Canada, Trust Child Care Centers partnered with Parent Care Network to provide video over the internet to parents to help them monitor child activities at the daycare center. Bloomz, Eleyo, OnCare, myKidzDay, KidCheck are some of the companies providing childcare software, applications and technologies utilized by care service providers.
The global social services market is expected to grow from $4.53 trillion in 2020 to $4.83 trillion in 2021 at a compound annual growth rate (CAGR) of 6.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.64 trillion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global social services market, accounting for 35% of the market in 2020. Western Europe was the second largest region, accounting for 32% of the global market. Middle East was the smallest region in the global social services market.
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