PUBLISHER: The Business Research Company | PRODUCT CODE: 1435565
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435565
Social services encompass offerings that provide benefits and facilities related to food supplies, education, health care, disaster relief activities, and housing services. These services, rendered by both private and government establishments, aim to enhance the living conditions and social well-being of the underprivileged, including children, individuals with disabilities, the elderly, and those facing economic challenges within a community.
The primary categories of social services include educational services and social assistance. Social assistance services encompass child day care services, community food housing and relief services, vocational rehabilitation services, and individual and family services. These services are operated by both public and private entities, and they are accessible through various modes, including online and offline.
The social services market research report is one of a series of new reports from The Business Research Company that provides social services market statistics, including social services industry global market size, regional shares, competitors with a social services market share, detailed social services market segments, market trends and opportunities, and any further data you may need to thrive in the social services industry. This social services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The social services market size has grown strongly in recent years. It will grow from $5164.52 billion in 2023 to $5542.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historic period can be attributed to shifts in demographics, governmental policies, increased public awareness, expansion of the nonprofit sector, and responses to crises.
The social services market size is expected to see strong growth in the next few years. It will grow to $7301.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be ascribed to heightened awareness of mental health, increased community engagement, initiatives focused on diversity, equity, and inclusion (DEI), shifts in government funding, and the adoption of integrated service models. Prominent trends expected in the forecast period encompass the integration of technology, digital transformation for outreach, data-driven decision-making, collaborative efforts across sectors, and the implementation of trauma-informed care.
Autism Spectrum Disorder (ASD) is a multifaceted developmental disability characterized by symptoms that typically emerge in early childhood, affecting an individual's communication and interaction capabilities. The Center for Disease Control and Prevention (CDC) reports a prevalence of 1 in 59 children diagnosed with ASD in the US, emphasizing the significance of early diagnosis and intervention for improved outcomes. As a response, various autism research organizations are expected to increase investments in advancing understanding and treatment. This surge in focus is such as ly to lead to expanded training for social service professionals, including autism child care counselors, therapists, and psychologists, enabling them to cater to a larger population and generate increased revenues.
The anticipated growth of the social services market is attributed to the increasing awareness of mental health. This awareness involves ongoing efforts to combat the stigma surrounding mental illness by fostering understanding and open conversations about mental health and well-being. Social services, particularly those provided by clinical social workers, play a crucial role in offering mental health support to individuals and families. By raising awareness about mental health issues and promoting empathy for those facing mental health challenges, these services contribute to the overall growth of the social services market. As evidence, a survey conducted by the British Association for Counselling and Psychotherapy (BACP) in May 2023 revealed that 34% of UK residents had sought assistance from counselors or therapists. Thus, the increasing awareness of mental health is a driving force for the expansion of the social services market.
The COVID-19 pandemic acted as a constraint on the social services market in 2020 due to global lockdowns that limited public gatherings in places such as schools, childcare centers, and community facilities. The impact of COVID-19, characterized by flu-such as symptoms, led to economic disruptions and lockdowns globally. While some sectors within social services were relatively unaffected, overall, the pandemic negatively impacted the industry. However, as the pandemic is considered a 'black swan event' and not indicative of fundamental weaknesses in the market or the global economy, the social services market is expected to recover over the forecast period.
Child daycare centers are increasingly incorporating technology to enhance parent-child connections. Many centers now utilize applications to offer video streaming of classroom activities and share images of children with parents. This technological integration allows parents to observe and stay involved in their child's experiences at the daycare center, accessing videos and pictures remotely. For example, Trust Child Care Centers in Canada has partnered with Parent Care Network, offering parents internet-based video access to monitor their child's activities at the daycare center. Companies such as Bloomz, Eleyo, OnCare, myKidzDay, and KidCheck provide childcare software, applications, and technologies adopted by service providers.
Governments worldwide are prioritizing the implementation of social service schemes to enhance the well-being of their citizens. Social service schemes are governmental initiatives designed to assist individuals and families facing various challenges. These programs aim to provide essential income support to those living in poverty. In a notable example, the Government of New Zealand introduced the Social Sector Commissioning Action Plan 2022-2028 in October 2022. This plan represents a transformative shift in how social services are delivered, emphasizing community-led support for individuals, families, and communities in Aotearoa New Zealand. The goal is to improve the accessibility of support services and enhance the overall delivery of social services through community-led initiatives.
Major companies operating in the social services market report are Lutheran Social Services of America, Catholic Charities USA, United Nations Children's Fund, Rehabilitation Services Administration (RSA), United Way Worldwide, American Red Cross, Medecins Sans Frontieres, Bright Horizons Family Solutions, KinderCare Education, World Vision International, Goodstart Early Learning, Save the Children, Food For the Poor Inc., illuminate VR Services Ltd., The Salvation Army, Habitat for Humanity International, Easterseals Arc, Naborforce Inc., Vocational Rehabilitation and Employment (VR&E), Vocational Rehabilitation Association (VRA), RISE Inc., Vocational rehabilitation of the handicapped person, Georgia Vocational Rehabilitation Agency, New York State Education Department, Adult Career and Continuing Education Services, Easterseals Oregon, Sanctuary Housing, CARE International, Doctors Without Borders, Oxfam International, The Village Family Service Center
Western Europe was the largest region in the social services market in 2023. Asia-Pacific was the second-largest region in the social services market. The regions covered in the social services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the social services market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The social services market includes revenues earned by providing instruction and training in a wide variety of subjects, child day care services, community food housing and relief services, vocational rehabilitation services and individual and family services. These establishments may be privately owned and operated for profit or not for profit, or they may be publicly owned and operated. 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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Social Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on social services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for social services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The social services market global report from the Business Research Company 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.