Increasing Working Women Population and Changing Lifestyle in the country to Foster Future Growth of Singapore Day Care Market: Ken Research
Posted on 23 October 2017 by KenResearch
Day care market in Singapore has witnessed significant growth over the period 2013-2016. Number of enrollments has surged during the period and centers providing such services have also augmented at a considerable pace. The growth has been supported by several factors including government initiatives, growing child population and enhancing working population in the country. Building void deck childcare centers made it easier for the government to speed up the number of centers. More financial incentives were later offered to encourage couples to have more babies by defraying costs of raising young children by implementing schemes such as the Baby bonus Scheme in 2001. Furthermore, rising awareness of the benefits of early learning to cognitive development in children has encouraged more parents to opt for day care centers.
In order to maintain work life balance, daycare centers have become a convenient and safe option for parents to help in the learning and development of their child. This is further supported by increasing disposable income due to which parents look for quality education along safe and secure facilities in near proximity. The infrastructure of day care centers have evolved with centers focusing on overall development of the children. Major Day care centers are widening their service portfolio by offering both childcare and infant care services. The centers have come up with curriculum which focuses on the overall development of the child. Technology and innovation has played a key role in development of various facilities offered by the daycare centers. Now-a-days, daycare centers offer e-learning facilities, app based updates for individual parents and easier digital payment options. This has helped in smooth functioning of the daycare centers.
The report titled “Singapore Day Care Market by Type (Childcare – Kindergarten, Playgroup, Nursery; Infant Care Centers), by Duration (Half Day and Full Day) – Outlook to 2021” by Ken Research suggested a robust CAGR of 12.7% in revenue of the Singapore day Care by 2021 with growing importance of early education and infrastructure investment driving the revenues of this market in the future.
Ankur Gupta, Head Marketing & Communications
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