The community and individual service market is to reach $2 trillion by 2026; TBRC's research report goes into detail on drivers, trends, and opportunities in the market.
LONDON, April 21, 2022 /PRNewswire/ -- Western Europe has the largest community and individual services market share, accounting for 47.1% of the total in 2021. It was followed by Asia-Pacific, North America, and then the other regions. As per TBRC's community and individual services industry growth analysis, going forward, the fastest-growing regions in the community and individual services market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 12.3% and 11.7% respectively. These will be followed by Africa and Middle East, where the markets are expected to grow at CAGRs of 11.2% and 10.5% respectively during 2021-2026.
The global community and individual services market size is expected to grow from $1.25 trillion in 2021 to $1.40 trillion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The community and individual services market is expected to reach $2.14 trillion in 2026 at a CAGR of 11.1%.
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Community And Individual Services Market Segmentation
The community and individual services market is segmented by type into community food, housing, and relief services, individual and family services. The individual and family services market was the largest segment by type, accounting for 63.8% of the total in 2021, and the community food, housing, and relief services segment is expected to be the fastest growing segment going forward, at a CAGR of 7.2% during 2021-2026.
The community and individual services market is also segmented by mode into offline and online, and by application into food stamp program, disaster relief services, adoption services and self-help.
What Is The Community And Individual Services Market?
TBRC's community and individual services market report defines this market as consisting of the revenues from community and individual services and related goods by entities (organizations, sole traders and partnerships) that provide non-residential social assistance to children and youth, elderly, persons with disabilities, and all other individuals and families or collect, prepare, and deliver food for the needy; provide short-term emergency shelter, temporary residential shelter, transitional housing, volunteer construction or repair of low-cost housing, and/or repair of homes for individuals or families in need; or provide food, shelter, clothing, medical relief, resettlement, and counseling to victims of domestic, national, or international disasters or conflicts (e.g., wars).
Community And Individual Services Market Opportunities
The top opportunities in the community and individual services market segmented by type will arise in the individual and family services segment, which will gain $518.1 billion of global annual sales by 2026. The top opportunities in the community and individual services market segmented by mode will arise in the offline segment, which will gain $450.1 billion of global annual sales by 2026. The top opportunities in the community and individual services market segmented by application will arise in the adoption services segment, which will gain $275.8 billion of global annual sales by 2026.
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