Child Day Care Services: A US, UK and Australian Market Report
San Jose, CA (Vocus) July 15, 2010
Child day care services play a vital role in enhancing economic growth through increased labor force participation. Apart from providing assistance to parents, particularly for single parents, child care services facilitate child’s cognitive and social development, and prepare them for schooling. The global economic meltdown and the enormous impact on the job market directly affected the level of activities in the child care services industry. Rising costs, high attrition rates of employees, and decline in enrollment rates adversely affected the prospects of child day care service providers. However, rising pressures for finding new jobs and increased working hours are contributing to a marginal rise in the number of parents seeking child day care services.
Growth in the child day care services market is significantly influenced by factors such as birth rates, unemployment rate, and the number of working parents, as stated by the new market research report on child day care services. Rapid growth in the population of children under 5 years of age through 2015, and rise in the number of children with working parents (single or dual) is expected to boost the demand for child day care services. Though the market has been adversely impacted by adverse economic conditions, the industry is expected to gather momentum in the post-recession scenario, following the anticipated rise in employment opportunities.
A contracting economy and reduced employment opportunities forced unemployed parents to discontinue paid care services and seek low-cost alternative options, either formal facilities or informal family care alternatives. Parents are increasingly opting for friends and relatives for children’s care to make up for the loss of paid care services. Further, the demand for part-time child care services witnessed an increase due to a decline in the availability of full time jobs and a rise in the number of part-time jobs taken up by parents. The increased cost of child care services compelled parents to create pre-school and care center environment at home.
The child day care services industry involves the participation of establishments that offer paid services for infants, toddlers as well as pre-school children. Key players profiled in the report include Asquith Nurseries Limited, Bright Horizons Family Solutions Inc., Childbase Ltd., Child Development Schools Inc., GoodStart Childcare Limited, Just Learning Ltd., kidsunlimited Ltd., Knowledge Universe Inc., Busy Bees Nurseries Ltd., Knowledge Learning Corporation, and Learning Care Group Inc., among others.
The report titled “Child Day Care Services: A US, UK and Australian Market Report” announced by Global Industry Analysts, Inc., provides a review of market trends and recent industry activity. The study analyzes market data and analytics in terms of revenues for The United States, the United Kingdom, and Australia.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Child_Day_Care_Services_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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