Geographically, North America holds the largest childcare management software market share, owing to rapid technological developments, and numerous investments as well as initiatives taken by the government across North American countries. The growing number of women are being employed in the region, which has resulted in achieving additional economic growth. Recently, in February 2019, the Trump government announced the Women’s Global Development and Prosperity (W-GDP) Initiative, which targeted to reach 50 million women by 2025 with the help of US government activities, a new, innovative fund, and private-public partnerships. The government announced the first round investment for four new projects, which include 200 public and private-sector partnerships across 22 countries in the region. This factor is upsurge the growth of the revenue size of the childcare management software market in the North American region. This, as a result, has positively impacted the childcare management software market.
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The integration of advanced technologies, including AI, Industrial Internet of Things (IIoT), and more, is gaining traction between varied sectors. In the current market scenario, the emergence of AI into the childcare system is expected to benefit both families and daycare centers. The dependency on AI to estimate the quality of child care is an innovation brought into the market, which is familiar with the name of “surveillance parenting. This factor is expected to trigger the growth of the childcare management software in the coming years. The AI-powered device gives necessary data such as decisions when to feed baby, or firing babysitter, and others. Besides, the technology by using algorithm records mood swings of babies, which later create highlight reel and lowlight reel. This data then notifies parents about their quality of childcare.
The childcare management software market by solution is segmented into family and child data management, attendance tracker, accounting, time and activity management, nutrition management, and others. The accounting holds a significant share in the market, whereas, nutrition management is expected to be the fastest-growing solution during the forecast period. Family accounting is the accounts receivable and billing software developed for daycare providers, childcare centers, and preschool administrators. agency accounting facilitates the tracking of child contracts by agency, store agency documents in an electronic format for families, monitor past dues, and others. On the other hand, the nutrition management has an in-built feature of meal-tracking which allow parents to get meal count totals for every status level, such as free and paid while printing classroom menus, meal rosters, and meal count reports depending upon age group.
The major players operating in the market for childcare management software market are Bloomz Inc., Eleyo, Himama, Iclasspro, Kidcheck, Kindyhub, Kwiksol Corporation, Oncare, Softerware, Inc., and Tadpoles LLC among others.