Nuclear Decommissioning Services Global Market Opportunities and Strategies to 2033

This report describes and explains the daycare management software market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global daycare management software market reached a value of nearly $9.04 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.7% since 2018. The market is expected to grow from $9.04 billion in 2023 to $12.63 billion in 2028 at a rate of 6.9%. The market is then expected to grow at a CAGR of 5.1% from 2028 and reach $16.23 billion in 2033.

Growth in the historic period resulted from the increased disposable income per capita, increase in demand for childcare services, increasing prevalence of dual-income households and increase in cloud-based activities. Factors that negatively affected growth in the historic period were concerns over data security and privacy regulations.

Going forward, strong economic growth in emerging markets, initiatives to improve the quality of childcare, increasing concerns about child safety and rapid urbanization will drive the growth. Factor that could hinder the growth of the daycare management software market in the future include high initial investment costs.

The daycare management software market is segmented by type into cloud-based software and on-premises software. The cloud-based software market was the largest segment of the daycare management software market segmented by type, accounting for 64.1% or $5.8 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the daycare management software market segmented by type, at a CAGR of 7.2% during 2023-2028.

The daycare management software market is segmented by solution into family and child data management, attendance tracker, accounting, time and activity management, nutrition management and other solutions. The nutrition management market was the largest segment of the daycare management software market segmented by solution, accounting for 30.1% or $2.71 billion of the total in 2023. Going forward, the accounting segment is expected to be the fastest growing segment in the daycare management software market segmented by solution, at a CAGR of 8.8% during 2023-2028.

The daycare management software market is segmented by application into daycare centers, kindergarten and other children care facilities. The daycare centers market was the largest segment of the daycare management software market segmented by application, accounting for 53.3% or $4.82 billion of the total in 2023. Going forward, the other children care facilities segment is expected to be the fastest growing segment in the daycare management software market segmented by application, at a CAGR of 8% during 2023-2028.

North America was the largest region in the daycare management software market, accounting for 43.1% or $3.89 billion of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the daycare management software market will be Asia Pacific and South America where growth will be at CAGRs of 10.3% and 8.7% respectively. These will be followed by Western Europe and Middle East where the markets are expected to grow at CAGRs of 6.8% and 6.3% respectively.

The global daycare management software market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.04% of the total market in 2022. Brightwheel Inc. was the largest competitor with a 0.68% share of the market, followed by Procare Solutions with 0.64%, Famly with 0.21%, Jackrabbit Tech with 0.15%, Kangarootime Inc. with 0.08%, Childcare Sage Software with 0.06%, iCare Software Inc. with 0.06%, LineLeader by ChildcareCRM with 0.06%, TimeSavr with 0.06% and Childwatch Corp. with 0.05%.

The top opportunities in the daycare management software market segmented by type will arise in the cloud-based software segment, which will gain $2.39 billion of global annual sales by 2028. The top opportunities in the daycare management software market segmented by solution will arise in the nutrition management segment, which will gain $1.27 billion of global annual sales by 2028. The top opportunities in the daycare management software market segmented by application will arise in the daycare centers segment, which will gain $1.9 billion of global annual sales by 2028. The daycare management software market size will gain the most in the USA at $1.09 billion.

Market-trend-based strategies for the daycare management software market include introduction of innovative products to offer extensive support for childcare centers, launch of mobile applications to track children’s cognitive development, development of AI assistants to help families manage childcare tasks, strategic acquisitions to expand product range and focus on new investments for providing better maternity and child care services.

Player-adopted strategies in the daycare management software market include focus on improving portfolio through investments to support both providers and families and establishing as the preferred operating system of the early education industry, focus on improving portfolio through product launches to offer extensive support for childcare centers to address the evolving needs of the childcare industry, expanding business capabilities through investments to boost mission to transform parent-teacher collaboration in early childhood education and focus on improving portfolio through mergers and acquisitions for expanding market presence and enhancing product offerings in the competitive childcare software market.

To take advantage of the opportunities, the analyst recommends the nuclear decommissioning services companies to focus on innovative dismantling techniques, focus on technological advancements for competitive edge, focus on leveraging digitalization and robotics, focus on pressurized water reactor (PWR) segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, focus on digital marketing channels, focus on diversifying promotional channels and focus on effectively targeting end-users.