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Companies in this industry provide supervision and educational programs for pre-school and school-age children. Major US companies include Bright Horizons Family Solutions, Knowledge Universe, and Learning Care Group; major companies based outside the US include Asquith Nurseries (UK), Kinderopvang Humanitas (The Netherlands), and PLASP (Canada).
Global demand for child care services and early childhood education is growing as a result of increases in the number of women in the workforce and the number of single-parent families, according to the United Nations. About 70% of US 4-year-olds are enrolled in preschool, compared to an average rate of about 80% for countries in the Organization for Economic Co-operation and Development (OECD). The US also lags behind most developed economies in preschool enrollment among 3-year-olds. Growth in demand for child care services may come from countries such as China, India, and Mexico, which have ambitious goals to increase preschool enrollments.
The US child care services industry includes about 55,000 commercial facilities with combined annual revenue of $20 billion, plus about 21,000 facilities run by nonprofit organizations with combined annual revenue of about $32 billion.
Demand is driven primarily by growth in the youth population, and secondarily by employment and income. Recognition of the importance of early education is also driving demand for high-quality care. The profitability of individual child care facilities depends on good marketing and efficient operations. Large companies have economies of ...
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