LONDON–(BUSINESS WIRE)–The global childcare management software market size is poised to grow by USD 62.21 million during 2020-2024, progressing at a CAGR of about 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
There are a number of initiatives taken up by developed and developing countries to promote women’s engagement in the mainstream workforce. With a growing number of women shifting from the unorganized to the organized sector, there is an increase in women’s salaries in developing regions such as Asia, the Middle East, and Africa. Because of the rise in women workforce, there is an increase in the number of parents registering for childcare services. Childcare centers are investing in childcare management software to track the progress of a child without human interference. The increasing women workforce will be one of the significant factors that will fuel the childcare management software market growth during the forecast period.
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- The major childcare management software market growth came from the on-cloud deployment segment. The on-cloud deployment of childcare management software is a lucrative segment. This deployment method eliminates the need for customers to own hardware for running the application, thereby reducing their operational costs. The software can be accessed by any device such as laptops, smartphones, and tablets with an Internet connection. The presence of small-scale private childcare centers will drive the growth of the market segment by volume.