The Latest Top 7 Markets In Social Services Industry – By The Business Research Company
LONDON, March 18, 2024 (GLOBE NEWSWIRE) -- Stay ahead of competitors by leveraging The Business Research Company's Social Services industry reports, which offer invaluable insights for businesses navigating this dynamic sector. These comprehensive analyses cover market trends, growth drivers, challenges, and opportunities, empowering companies to make informed decisions and develop strategic plans.
Access the top seven latest market reports in the Social Services industry from The Business Research Company:
1. Educational Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/educational-services-global-market-report
The educational services market encompasses a wide range of activities aimed at education, including teaching, research, and training. It includes various segments such as other educational services, colleges, universities, professional schools, elementary, and secondary schools. Expenditures within this market can be categorized as public or private, and delivery modes can be online or offline.
Subsegments within the market cover diverse areas such as fine arts schools, sports instruction, language schools, tutoring, and various support services. The market has experienced significant growth, with a projected increase from $3,438.78 billion in 2023 to $3,707.96 billion in 2024, representing a compound annual growth rate (CAGR) of 7.8%. This growth is attributed to factors such as population expansion, government funding, globalization, demographic shifts, economic conditions, and education policies.
Looking ahead, strong growth is expected to continue, with the market size forecasted to reach $4,980.51 billion by 2028, at a CAGR of 7.7%. This growth trajectory underscores the increasing demand for educational services globally.
2. Online Tutoring Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/online-tutoring-global-market-report
The online tutoring market has experienced rapid growth in recent years, with a projected increase from $9.68 billion in 2023 to $11.15 billion in 2024, representing a compound annual growth rate (CAGR) of 15.2%. This growth can be attributed to several factors including the globalization of education, heightened academic competition, busy lifestyles, customized learning paths, and increased access to specialized expertise.
Looking ahead, the online tutoring market is expected to continue its rapid expansion, reaching $20.07 billion by 2028, with a CAGR of 15.8%. The demand for e-learning has surged, particularly due to the impact of COVID-19, which led to widespread school closures worldwide. Consequently, there has been a significant shift towards remote learning and online tutoring via various digital platforms.
3. Child Day Care Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/child-day-care-services-global-market-report
The child day care services market has demonstrated robust growth in recent years, with an expected increase from $310.3 billion in 2023 to $332.51 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth can be attributed to various factors including the rising participation of women in the labor force, evolving family structures, government subsidies and programs, emphasis on education, and urbanization trends.
Looking ahead, strong growth is anticipated to continue, with the market projected to reach $434.69 billion by 2028, at a CAGR of 6.9%. Key players in this market include KinderCare Education LLC, Learning Care Group, Bright Horizons Family Solutions Ltd., among others.
Regionally, Asia-Pacific emerged as the largest market for child day care services in 2023, followed by Western Europe. Other regions covered in the market report include Eastern Europe, North America, South America, Middle East, and Africa.
4. Social Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/social-services-global-market-report
The social services market comprises educational services and social assistance, operated by either public or private entities and delivered through online or offline modes. Subsegments include various educational services, colleges, universities, professional schools, elementary and secondary schools, child day care services, and community and individual services.
This market has demonstrated significant growth, with an increase from $5,164.52 billion in 2023 to $5,542.2 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.3%. Factors driving this growth include demographic shifts, government policies, increased public awareness, nonprofit sector expansion, and crisis response initiatives.Looking ahead, strong growth is anticipated, with the market projected to reach $7,301.1 billion by 2028, at a CAGR of 7.1%.
In 2023, Western Europe emerged as the largest region for social services, followed by Asia-Pacific. Other regions covered in the market report include Eastern Europe, North America, South America, the Middle East, and Africa.
5. Services For the Elderly And Persons with Disabilities Global Market Report 2024
The services for the elderly and persons with disabilities market has witnessed strong growth, expanding from $471.29 billion in 2023 to $504.42 billion in 2024, with a compound annual growth rate (CAGR) of 7.0%. This growth is attributed to various factors including decreasing household sizes, economic growth in emerging markets, a rising aging population, technological advancements like mobile apps, government funding for elder care, increasing disease prevalence, and health insurance reforms.
Anticipating continued robust growth, the market is projected to reach $654.91 billion by 2028, with a CAGR of 6.7%. Key players in this market include CK Franchising Inc., 24 Hour Home Care, Home Instead Inc., SE Health, Right at Home Inc., among others.
Furthermore, the adoption of robots in care facilities worldwide is becoming increasingly common, aiming to enhance the transition of care provision for elderly patients.
6. Child And Youth Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/child-and-youth-services-global-market-report
Child and youth services encompass a range of health, mental, social, and rehabilitative assistance provided by both public and private agencies. These services include foster and guardianship placement, counseling, social assistance, recreational programs, adoption services, and more. Targeting various age groups from infants to youth, these services are delivered through online and offline modes.
The market for child and youth services has experienced robust growth, increasing from $147.49 billion in 2023 to $156.93 billion in 2024, with a compound annual growth rate (CAGR) of 6.4%. This growth is attributed to factors such as advocacy campaigns for children, focus on youth empowerment, advancements in healthcare, proliferation of community centers, and policy changes in child protection.
Looking ahead, strong growth is anticipated, with the market projected to reach $199.12 billion by 2028, at a CAGR of 6.1%. This trajectory underscores the continued importance and investment in services aimed at supporting the well-being of children and youth.
7. Elementary And Secondary Schools Global Market Report 2024
The elementary and secondary schools market has shown robust growth, increasing from $1620.94 billion in 2023 to $1769.82 billion in 2024, with a compound annual growth rate (CAGR) of 9.2%. This growth is attributed to factors such as population growth, government funding, education policies, parental involvement, and community development.
Anticipating continued strong growth, the market is projected to reach $2483.77 billion by 2028, with a CAGR of 8.8%. Increased spending on education is expected to drive this growth, leading to higher revenues for schools.
In 2023, Asia-Pacific emerged as the largest region for elementary and secondary schools, followed by Western Europe. Other regions covered in the market report include Eastern Europe, North America, South America, the Middle East, and Africa.
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