The Global Childcare Management Software Market is estimated to account to US$ 428.52 Million in 2020 and is expected to grow at a CAGR of 6.90% during the forecast period 2020 - 2027, to account to US$ 605 Million.
Child care management software, also referred to as child care administrative software or day-care accounting software, is business software designed specifically for use by child care centers, preschools, and similar child-oriented facilities. They can be either run from local computers or via mobile/hand-held access to other systems running elsewhere. The software is intended to increase staff productivity by recording unique child and family information. This category of software incorporates aspects of other types of business software, notably accounting software, but typically addresses business management issues that are unique to child care and beyond the scope of generic business software. Immunization tracking and record keeping for the Child and Adult Care Food Program (CACFP) are examples of the specific nature of such software that appeals to a niche market.
The global childcare management software market is experiencing steady growth in the forecast period. The increasing number of day-care centres and contractual alliance between vendors and corporates are owing to the surge the childcare management software market globally. Due to rise in the number of day-care centres, vendors of childcare management software are looking ahead to offering contractual alliances with corporate and government facilities. Strategic alliance with corporates and government organizations enables parents to monitor their children in a better way. To provide convenience to women employees, both private and public sectors have started offering in-office childcare centres, and this factor is a crucial driver for childcare management software market. Thus, it impacts the growth of childcare management software market in the current scenario.
However, the high price of software might be a restraining factor for the market growth as small kindergarten schools may have low budget allocation. Nonetheless, the integration of advanced technologies such as video streaming and ChatBot is expected to generate significant opportunities for the childcare management software market.
Leading players in the market includes Jackrabbit Technologies, HiMama, Kangarootime, KidReports LLC, Kids Note, Inc., KINDERLIME, Kindertales, Orgamation Technologies Inc., LifeCubby, and Personalized Software, Inc.
Childcare management software system has gained huge popularity in the last couple of years as parents can cyber visit childcare classroom and monitors their child’s activity. Installation of this software offers easy communication between staff and parents with the help of the built-in messaging system. Moreover, it increases staff productivity by storing information regarding the child and family. With growing technological integration, the global childcare management software market is expected to grow considerably in the coming years.
Installation of childcare management software in pre-schools play schools, and day-care with automating administrative tasks such as reporting, invoicing, and admissions is the major factor driving growth in this market. It also ensures parents with the safety of their child. Application of this also helps the school authorities to connect with the child’s parent through social media. Moreover, it eases tuition fees payment that can be done online and different school’s schedules are displayed online making the work easier. Despite the various factors fuelling the growth in the global childcare management software market, few factors might challenge its growth. While installing web-based childcare system additional cost is incurred that might refrain customers form installing this service. Whereas, in remote areas where the internet connectivity is low also limit the market’s growth as might not be feasible wit users’ budget.
One of the major factors driving the growth of childcare management software market is the rise in the working women population. Changes in lifestyle as well as standard of living especially developing economies have seen a surge in the women working population. Children at a very young age or even the toddlers are sent to the childcare centres. These centres are responsible for taking care of the child along with grooming them with basic functions which will be helpful in future. It is these centres that have a high dependence on manual labour because of which automated systems or software like childcare management help them to take care of the child in a better way. Parents can keep an eye on their children and the centres too can monitor their employees by keeping a record of the behaviour analysis of both children and employees and these are some other factors that have boosted the application of childcare management software in day-care centres and pre-school. However, it is the concerns related to the data security that may put the confidential information of the child at risk, thereby acting as a major restraint for the growth of the childcare management software market.
A key trend that will prominently affect the childcare management software market in the coming years is the transforming trend of upcoming technological developments in childcare system in the forecast period. This factor is expected to boost the childcare management software market. The integration of advanced technologies, including AI, Industrial Internet of Things (IIoT), and more, is gaining traction between varied sectors. In the current market scenario, the emergence of AI into the childcare system is expected to benefit both families and day-care centres. Therefore, the integration of AI-powered childcare management is expected to be a trending factor impacting the growth of the childcare management software market.
Childcare management software market by solution is segmented into family and Child data management, attendance tracker, accounting, time and activity management, nutrition management, and others. On the basis of deployment, the childcare management software market is segmented into on premise and cloud-based software. Based on the end-user, the childcare management software market is divided into parents, day-care centres, and play schools. The nutrition management market is growing with the fastest growth rate. The nutrition management solution of the childcare management software simplifies record keeping of children at childcare, day-care, and preschool. The software maintains a record of food for day centres that participate in the USDA Child and Adult Care Food Program (CACFP).
Details related to menu planning, meals served, print meal roll call sheets and monthly reimbursement spending, and the growth of the industry in developing countries is foreseen to drive the growth of the segmentation the childcare management software market globally. Growing number of day-care centres/kindergarten schools and increasing number of women empowerment activities, as well as opening in-office day-care centres in corporates, are the major drivers propelling the childcare software management market growth.
The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa).
On the regional front, North America is expected to lead the global childcare management software market over the forecast period. Increasing technological advancements taking place in the regions and easy accessibility of this software on different electric devices such as mobile, tablets, etc. have benefitted the growth in this market. Moreover, the rising emphasis on client-centric approaches, operational efficiency, and provision of 24/7 customer engagement has further fueled the demand for childcare management software in North America.
Asia Pacific childcare management software market is also expected to grow significantly in the coming next few years. Increasing internet penetration and rising sales of smartphones in countries like China and India might create huge growth opportunity in this market.
The regional analysis covers: North America (U.S. and Canada), Latin America (Mexico, Brazil, Peru, Chile, and others), Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg), Eastern Europe (Poland and Russia), Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand), Middle East and Africa (GCC, Southern Africa, and North Africa)
The countries in these regions have also reported remarkable growth in the gross enrolment ratios, which is mainly attributed to the rise in the number of children participating in the preschool programs, along with child care benefits. Therefore, in the recent year, the number of child care and pre-primary institutions has doubled in different countries with the progress in the pre-primary education as well as childcare industry.
The growing awareness about the quality care along with the preschool education services offered to the young children in the regions, anticipated the growth of childcare management software market in APAC.
Report : Childcare Management Software Market - By Solution (Family And Child Data Management, Attendance Tracker, Accounting, Time And Activity Management, Nutrition Management, And Others), By Deployment (On Premise and Cloud-Based), By End User (Parents, Day-Care Centres, And Play Schools) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027