Dublin, July 25, 2023 (GLOBE NEWSWIRE) -- The "Social Assistance Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
Global social assistance market is expected to surge from $1,639.3 billion in 2022 to $1,723.4 billion in 2023, representing a robust compound annual growth rate (CAGR) of 5.1%.
This upward trend is set to continue, with projections indicating that the market will reach $2,145.21 billion in 2027, growing at a CAGR of 5.6%.
Notably, social assistance providers are embracing innovative strategies, with a strong focus on data-driven approaches like big data and predictive analytics. Leveraging the power of data, statistical algorithms, and machine learning techniques, they aim to gain profound insights and enhance the efficiency and effectiveness of their social assistance services.
Big data analytics involves extracting hidden patterns and useful information from a large set of data. These techniques help in reporting, detecting, or correcting non-compliance while monitoring the target population. For instance, Hillside Family of Agencies, a human services provider for youth and families, is using predictive analytics to reduce the dropout rates among youth in high school.
Good Samaritan Society, a non-profit provider of senior care and services, has partnered with IBM to use big data and analytics software for its clinical and operational data about the patients. Western Europe was the largest region in the social assistance market in 2022. Asia-Pacific was the second-largest region in the social assistance market.
An expected increase in the women's employment rate in the forecast period is estimated to drive the market for child care. For instance, the share of women in the labor force in the USA is expected to increase by 47.2% in 2024, driving the demand for on-site childcare facilities at corporates. 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.
The social assistance market consists of revenues earned by entities that provides social assistance services such as community food housing and relief services, vocational rehabilitation services and individual and family services. Social assistance establishments do not include residential or accommodation services, except on a short-day basis stay.
This market includes both government sponsored and privately funded social assistance services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
A selection of companies mentioned in this report includes
- 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
- G8 Education
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Social Assistance Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Social Assistance Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Social Assistance Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Social Assistance Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Social Assistance Market Trends And Strategies
8. Social Assistance Market - Macro Economic Scenario
8.1 COVID-19 Impact On Social Assistance Market
8.2 Ukraine-Russia War Impact On Social Assistance Market
8.3 Impact Of High Inflation On Social Assistance Market
9. Social Assistance Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Social Assistance Market Regional Analysis
10.1. Global Social Assistance Market, 2022, By Region, Value ($ Billion)
10.2. Global Social Assistance Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
10.3. Global Social Assistance Market, Growth And Market Share Comparison, By Region
11. Social Assistance Market Segmentation
11.1. Global Social Assistance Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Child Day Care Services
- Community And Individual Services
11.2. Global Social Assistance Market, Segmentation By Mode, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Online
- Offline
11.3. Global Social Assistance Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food Stamp Program
- Disaster Relief Services
- Adoption Services
- Self-help
12. Social Assistance Market Segments
12.1. Global Child Day Care Services Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Baby And Child Day Care Centers; Pre-Kindergarten And Preschool Centers; Nursery Schools
12.2. Global Community And Individual Services Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Community Food, Housing, And Relief Services; Individual And Family Services
13. Social Assistance Market Metrics
13.1. Social Assistance Market Size, Percentage Of GDP, 2017-2027, Global
13.2. Per Capita Average Social Assistance Market Expenditure, 2017-2027, Global
For more information about this report visit https://www.researchandmarkets.com/r/2n0ni
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