Social Assistance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Social Assistance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 4, 2022 /EINPresswire.com/ -- 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. Social assistance market trends include big data analytics, which 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. 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.

According to TBRC’s social assistance industry overview, Western Europe was the largest region in the social assistance market in 2021. Asia Pacific was the second-largest region in the social assistance market. The regions covered in the social assistance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Read More On The Global Social Assistance Market Report:
https://www.thebusinessresearchcompany.com/report/social-assistance-global-market-report

The global social assistance market size is expected to grow from $1.54 trillion in 2021 to $1.73 trillion 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 $2.63 trillion in 2026 at a CAGR of 11.1%.

An expected increase in the women employment rate in the forecast period is estimated to drive the market for child care. For instance, the share of women in the labour force in the USA is expected to increase 47.2% in 2024, driving the demand for on-site child care facilities at corporates. The social assistance global market forecast shows that 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.

Major players covered in the global social assistance industry are 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.

TBRC’s global social assistance market report is segmented by type into child day care services, community and individual services, by mode into online, offline, by application into food stamp program, disaster relief services, adoption services, self-help.

Social Assistance Global Market Report 2022 – 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) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a social assistance market overview, forecast social assistance market size and growth for the whole market, social assistance market segments, geographies, social assistance market trends, social assistance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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