Social services are voluntary benefits and facilities
relating to education, food supplies, education, health care, disaster relief
activities and housing services and are offered by private or government
establishments to improve living conditions and social well-being of under
privileged children, disabled, elderly and the poor in a community.
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The global social services market has shown high powered
growth in the past years with a CAGR of over 6%. The year 2017 recorded highest
ever growth in this market with a net value of slightly more than $3 trillion
as per TBRC’s inhouse consultants.
TBRC’s latest report show the growing trends in the market
for each year, globally and geographically with sourced reasons to support the
growth claims.
The report also shows the social services sector to grow at
a higher CAGR by 2021 as compared to 2017, along with geographies best suited
for investments with highest return rate.
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report at
Growth in the social services market can be considered rapid
with such a high CAGR and future growth prospects. This can be attributed to
increasing demand for child care and educational services in both developed and
developing countries, rapid urbanization, growing children population, new
government initiatives, rising per capita income in emerging economies, globalization
of educational services, and increasing demand for educated workforce in
emerging countries.
Companies included in the report are Bill & Melinda
Gates Foundation, World Food Programme, Unicef, University of California
System, and The Salvation Army.
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