In the present scenario, working professionals commit most of their time in workspaces and are unable to concentrate on personal life. This has compelled them to opt for daycare centers for their children to groom their learning abilities. Enrollment of kids aged 2–5 is more across preschools, kindergarten, or daycare centers. Preprimary programs, include kindergarten and preschool programs, provide educational experiences, whereas childcare runs daycare programs that exclude educational programs. This factor plays a major role in deciding an appropriate enrollment program. Every day, a huge number of children are being enrolled in daycare centers; this demands an efficient system to manage the regular activities of kids. Therefore, the scope of the childcare management system is gaining momentum across the world. Thus, it drives the childcare management software market.
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The childcare management software market is estimated to account US$ 144.2 Mn in 2018 and is expected to grow at a CAGR of 7.8% during the forecast period 2018 – 2027, to account to US$ 293.9 Mn by 2027.
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 daycare centers. The dependency on AI to estimate the quality of child care is an innovation brought into the market, which is familiar with the name of “surveillance parenting. This factor is expected to trigger the growth of the childcare management software in the coming years. The AI-powered device gives necessary data such as decisions when to feed baby, or firing babysitter, and others. Besides, the technology by using algorithm records mood swings of babies, which later create highlight reel and lowlight reel. This data then notifies parents about their quality of childcare.
Strategic Insights
Some of the market initiatives were observed to be the most adopted strategy in the global childcare management software market. Few of the recent market initiatives are listed below:
2019: iClassPro announced a partnership with Sweet Peas Educational Gymnastics to promote physical, social and cognitive development in children 6 months to 6 years old.
2018: KidCheck announced Check-In Passes feature which creates various pre-paid options for members to purchase childcare ahead.
2017: HiMama released childcare software which offers new management feature for child care administrators.
GLOBAL CHILDCARE MANAGEMENT SOFTWARE MARKET SEGMENTATION
Global Childcare Management Software Market – By Type
Global Childcare Management Software Market – By Solution
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