Dublin, March 17, 2021 (GLOBE NEWSWIRE) -- The "Social Assistance Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global social assistance market as it emerges from the COVID-19 shut down.
The global social assistance market is expected to grow from $1286.48 billion in 2020 to $1431.43 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The growth 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 market is expected to reach $1959.29 billion in 2025 at a CAGR of 8%.
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Where is the largest and fastest growing market for the social assistance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Social Assistance market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider social assistance market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The social assistance market section of the report gives context. It compares the social assistance market with other segments of the social services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, social assistance indicators comparison.
Major companies in the social assistance market include Bill & Melinda Gates Foundation; World Food Programme; Unicef; The Salvation Army and Feeding America.
The social assistance market consists of the revenues from social assistance services by entities (organizations, sole traders and partnerships) that provide social assistance services such as child day care services, community food housing and relief services, vocational rehabilitation services and individual and family services. These services do not include residential or accommodation services, except on a short-day basis. The social assistance market is segmented into child day care services and community and individual services.
Western Europe was the largest region in the global social assistance market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global social assistance market. Middle East was the smallest region in the global social assistance market.
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. Big data analytics 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.
The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the social assistance market in 2020 as governments globally imposed lockdowns that restricted the gathering of people in public places such as schools, colleges, child care and community centers. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, some of the social services markets remained relatively unaffected as the outbreak did not impact their operations. It is expected that the social assistance market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
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 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.
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. Impact Of COVID-19 On Social Assistance
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, 2020, By Region, Value ($ Billion)
10.2. Global Social Assistance Market, 2015-2020, 2020-2025F, 2030F, 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
12. Social Assistance Market Segments
12.1. Global Child Day Care Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, 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, 2015-2020, 2020-2025F, 2030F, 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, 2015-2025, Global
13.2. Per Capita Average Social Assistance Market Expenditure, 2015-2025, Global
14. Asia-Pacific Social Assistance Market
15. Western Europe Social Assistance Market
16. Eastern Europe Social Assistance Market
17. North America Social Assistance Market
18. South America Social Assistance Market
19. Middle East Social Assistance Market
20. Africa Social Assistance Market
21. Social Assistance Market Competitive Landscape
21.1. Competitive Market Overview
21.2. Market Shares
21.3. Company Profiles
21.3.1. Bill & Melinda Gates Foundation
21.3.1.1. Company Overview
21.3.1.2. Products And Services
21.3.1.3. Strategy
21.3.1.4. Financial Performance
21.3.2. World Food Programme
21.3.2.1. Company Overview
21.3.2.2. Products And Services
21.3.2.3. Strategy
21.3.2.4. Financial Performance
21.3.3. Unicef
21.3.3.1. Company Overview
21.3.3.2. Products And Services
21.3.3.3. Strategy
21.3.3.4. Financial Performance
21.3.4. The Salvation Army
21.3.4.1. Company Overview
21.3.4.2. Products And Services
21.3.4.3. Strategy
21.3.4.4. Financial Performance
21.3.5. Feeding America
21.3.5.1. Company Overview
21.3.5.2. Products And Services
21.3.5.3. Strategy
21.3.5.4. Financial Performance
22. Key Mergers And Acquisitions In The Social Assistance Market
23. Market Background: Social Services Market
23.1. Social Services Market Characteristics
23.2. Social Services Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Growth, By Segment, Value ($ Billion), Global
23.3. Global Social Services Market, 2020, By Region, Value ($ Billion)
23.4. Global Social Services Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
23.5. Global Social Services Market, 2015-2020, 2020-2025F, 2030F, Segmentation By Type, Value ($ Billion)
24. Recommendations
24.1. Global Social Assistance Market In 2025- Growth Countries
24.2. Global Social Assistance Market In 2025- Growth Segments
24.3. Global Social Assistance Market In 2025- Growth Strategies
25. Appendix
25.1. NAICS Definitions Of Industry Covered In This Report
25.2. Abbreviations
25.3. Currencies
25.4. Research Inquiries
25.5. The Publisher
26. Copyright And Disclaimer
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March 17, 2021 at 04:53PM
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Worldwide Social Assistance Industry to 2030 - Players Include Unicef, The Salvation Army and Feeding America Among Others - GlobeNewswire
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