Global Social Assistance Market Size, Forecasts, And Opportunities
Learn about the global social assistance market through The Business Research Company, which provides information on social assistance market size, social assistance market drivers and restraints, social assistance market players, the COVID-19 impact on the social assistance market, and more.
The global social assistance market size is expected to grow from $1539.50 billion in 2021 to $1726.27 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The growth in the market 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 social assistance market is expected to reach $2626.50 billion in 2026 at a CAGR of 11.1%.
The rise of the on-site child care market is also highly supported by government initiatives to encourage women to work, which will directly contribute to the growth of the child care market in the forecast period, thereby driving the social assistance market.
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The social assistance market consists of the revenues from social assistance services by entities (organizations, sole traders and partnerships) that provide social assistance services such as child day care services, community food housing and relief services, vocational rehabilitation services and individual and family services. These services do not include residential or accommodation services, except on a short-day basis. The social assistance market is segmented into child day care services and community and individual services.
Global Social Assistance Market Segments Include:
By Type: Child Day Care Services, Community and Individual Services
By Mode: Online, Offline
By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-Help
Subsegments Covered: Baby and Child Day Care Centres, Pre-Kindergarten and Preschool Centres, Nursery Schools, Community Food, Housing, and Relief Services, Individual and Family Services
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the social assistance market in 2021.
Social assistance providers are increasingly using data-driven approach such as big data and predictive analytics to gather insights related to social assistance services. Predictive analytics involves the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. Big data analytics involves extracting hidden patterns and useful information from a large set of data. These techniques help in reporting, detecting, or correcting a non-compliance while monitoring target population.
TBRC’s social assistance market report covers:
Major Market Players: World Food Programme, THE SALVATION ARMY INTERNATIONAL TRUST, Unicef, Bright Horizons Family Solutions, Sanctuary Housing, KinderCare Education, Food For Poor, Goodstart Early Learning, Primrose Schools, and G8 Education.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Social Assistance Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides social assistance market overviews, analyses and forecasts market size, share, social assistance market players, social assistance market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s social assistance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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