The latest report by IMARC Group, titled “Indian Pre-School/Childcare Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the Indian pre-school/childcare market is expanding at a robust rate. Pre-schools refer to educational institutions for kids belonging to the age group of 2 to 4 years that focuses on the early development of skills in the children. These establishments provide early education to the children, which aim to boost their self-esteem and enhance their learning habits. These learning spaces focus on optimizing their social, emotional as well as language skills to improve upon their basic motor, cognitive, physical, social, language and emotional capabilities. These institutes may also conduct team building activities for the children to promote the importance of teamwork while instilling a sense of empathy for their peers.
Indian Pre-School/Childcare Market Trends:
A significant increase in the women employment rates over the past few years is primarily driving the growth of the market in India. Hectic lifestyles and late working hours of both the parents have led them to turn toward pre-schools and childcare services. A rise in the participation of women in the workforce has also inflated the per capita income levels of families, which further enables them to provide high-quality childcare and early education to their children. In addition to this, the emerging trend of nuclear families in the country has resulted in the increasing demand for pre-schools with well-curated programs by professionally trained staff. Apart from this, the Indian education system is currently undergoing a rapid paradigm shift with the incorporation of lateral thinking and experiential learning approaches. This trend is steadily gaining preference among the parents, which has led them to shift from kindergartens with a traditional teaching approach to pre-schools focusing on the overall development of the students through a creative approach. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 19% during 2019-2024.
- Based on the facility, the market has been bifurcated into full day care and after school care.
- On the basis of ownership, the market has been segregated into public and private childcare.
- Based on the age group, the market has been classified into less than 2 years, 2-4 years, 4-6 years and above 6 years.
- On the basis of the location, the market has been categorized into standalone, school premises and office premises.
- Based on the major cities, the market has been classified into Delhi-NCR, Bengaluru, Hyderabad, Chennai, Mumbai, Kolkata and Rest of India.
- On the geographical front, the market has been divided into North India, East India, West and Central India, and South India.
- The competitive landscape of the market has been examined with the detailed profiles of the key players operating in the market including Kidzee, Bachpan Global, EuroKids, Tree House Education and Accessories Ltd., Shemrock Play School, Kangaroo Kids, Hello Kids, Little Millennium, Podar Jumbo Kids, and T.I.M.E. Kids.
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