Market Challenges And Opportunities
Global Parenting Apps Market- Drivers
- Busy lifestyle driving demand of parenting apps: In today's fast-paced world, both parents have become extremely busy with their careers and personal lives. Managing work and family has become more challenging than ever. Parents are constantly on the run, shuffling between their jobs, kids activities, and other responsibilities. They have very little downtime for themselves. This hectic schedule leaves parents with little time to actively participate in their children's routine life and keep track of their daily progress and milestones. Mobile apps have emerged as a convenience for such time-starved parents to stay closely connected with their kids, even when physically away. Parenting apps allow busy mothers and fathers to monitor their child's daily activities, meals, exercises and more right from their smartphones. Working parents find great relief in these apps to oversee their baby's schedule and needs with just a few taps, without having to be actually present with them at all times. The apps provide a handy virtual assistance to parents throughout the day, from setting reminders and scheduling play dates to tracking immunization schedules and milestones. They help parents save precious time otherwise spent on manual documentation by automating tasks. This time saved can then be utilized for quality engagement with children. With growing workplace stresses and dual-income families becoming common, parenting apps are increasingly being relied upon by time-crunched moms and dads to still remain effectively involved in parenting duties without compromising on work.
- Connected community for parents: While technology has improved connectivity, it has also increased loneliness and reduced human interactions in recent years. New parents often struggle with isolation as they adjust to their new role and responsibilities. The initial months and years of parenting can be emotionally exhausting and overwhelming. Having other parents to talk to, seek advice or guidance from is hugely helpful during this phase. Parenting apps are enabling communities of parents to bond virtually, by providing shared forums, groups and interaction spaces. Within these forums, parents openly discuss various topics of interest like eating habits, potty training, colic, teething and more. They clarify each other's doubts, give company through difficult phases and celebrate small milestones together. The apps act as a constant virtual companionship and a rich information resource. Most importantly, they reduce the isolation many parents feel after childbirth by connecting them with a whole community of similar individuals going through the same journey. Whether online or through in-app organized local meetups, the parenting apps foster meaningful connections among new and experienced parents alike. This sense of belonging to a healthy community helps parents gain the much-needed emotional support system and boosts their confidence in parenting abilities.
- Increasing product launches: Increasing product launches by the key players in the market are expected to drive the growth of the market over the forecast period. For instance, in March 2022, Talkspace, an online and mobile therapy company, announced the launch of the new ‘Parenting Guide’ app, its latest self-guided advice service. The app includes more than 100 self-guided sessions and live therapist-led classes every week on topics such as secure attachment, self-awareness, discipline, anxiety in kids, whining and complaining, getting kids to listen, strong-willed children and sibling relationships. It also offers more than 30 mental health prompts designed to help parents practice self-care and emotional regulation. In addition, the app includes a section that allows parents to record their thoughts and answer prompts about certain topics.
Global Parenting Apps Market- Opportunities
- Collaborations with educational institutions: Collaborations with educational institutions provide a great opportunity for growth in the global parenting apps market. As more schools and universities embrace technology to enhance teaching and learning, parenting apps can play a key role. These institutions have large student bodies and established communication channels to parents. If parenting apps partner with such institutions, it allows them to leverage existing networks to raise awareness about their offerings among vast parent communities. Many schools around the world have shifted to virtual or hybrid learning models since the pandemic began in 2020. This has increased the need for effective home-school communication and support for remote parent engagement. Parenting apps with features for administering homework, tracking progress, scheduling meetings and sharing educational resources digitally can fulfill this need. Partnerships that allow institutional recommendations or integrations of parenting apps into existing portals make them a credible solution for busy parents. According to UNESCO data, over 144 countries implemented nationwide closures of schools and universities during the peak of the pandemic in 2020, impacting over 1.5 Mn learners. With many of these temporary virtual arrangements now becoming long-term hybrid models, the addressable market for EdTech and associated parenting tools continues to widen.
- Integration of AR/VR and AI capabilities: The integration of AR/VR and AI capabilities can provide a significant opportunity to transform the global parenting apps market. These emerging technologies allow parenting apps to become highly interactive and personalized learning platforms for children. AR/VR enables immersive learning experiences for children to explore different topics and concepts in a fun and engaging manner. It can bring education content to life through 3D representations and simulations. For example, AR/VR features allow kids to experience different environments like outer space, underwater world or jungle and learn about related animals, plants and natural phenomena in an up close and personal way.
- Increasing adoption of inorganic growth strategies such as acquisitions: Increasing adoption of inorganic growth strategies such as acquisition by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in June 2020, Maven, a digital women’s health platform, announced that it has acquired parent-child relationship app, Bright Parenting. Bright Parenting is focused on helping parents form better relationships with their child. The tool specifically focuses on bonding with children 2 to 10 years of age, and offers caregivers personalized tips and activities that employ cognitive behavioral therapy approaches.
Global Parenting Apps Market- Trends
- Emergence of social parenting apps: The emergence of social parenting apps is having a significant influence on the global parenting apps market. With the growing popularity of social media, parents are increasingly looking for online communities to connect with other parents and seek advice or recommendations. These new social networking-style parenting apps allow parents to join local parent groups, ask questions, and share updates about their kids with other parents in real-time. Some of the prominent social parenting apps that have gained widespread popularity in recent times allow parents to create private online networks of family and friends. Parents can post photos and updates on their children's milestones and get feedback from their close social circles. This has encouraged more participation and engagement among parents on digital platforms. Another advantage of these social apps is they allow parents to join public parent groups in their city or towns and make new parent friends. This helps them feel less isolated in their parenting journey and get peer support.
- Increasing government initiatives: Increasing government initiatives are expected to drive the growth of the market over the forecast period. For instance, in August 2022, Union Minister of State for Health Mrs. Bharati Pravin Pawar, India, announced the launch of a mobile application on parenting which focuses on cognitive developments of children in the first two years. The first 1,000 days establish a solid platform for a child's physical, mental, emotional, cognitive, and social health.
Global Parenting Apps Market - Restraints
- Higher subscription/upgrade costs of premium apps: Higher subscription and upgrade costs of premium parenting apps are significantly restraining the growth of the global parenting apps market. With rising inflation and economic uncertainties across the world, consumers are becoming more cost-conscious about discretionary purchases. Many parents are hesitant to pay premium prices on a monthly or annual basis to access advanced features and personalized content on parenting apps. This impacts the adoption rates of paid or premium versions of popular parenting apps. While the basic free versions see decent downloads and engagement, monetization remains a challenge for app developers and publishers. Parents with multiple children and on tighter budgets may find the cumulative subscription costs of using multiple specialized parenting apps for things like meal planning, home learning, pediatric first-aid, etc. to be quite steep. They tend to opt for free resources over paid subscriptions.
- Data privacy and security concerns: Data privacy and security concerns are posing major challenges in the growth of the global parenting apps market. Parents are increasingly concerned about how their personal data and information of their children are being collected, stored, and used by these apps. Many parents choose not to install or regularly use parenting apps due to the lack of transparency in data privacy policies and the potential risks of data breach. For example, parenting apps require access to sensitive personal details like location, contacts, photos, health information, etc. to provide customized services and monitor children. However, there is a lack of assurance on how this private data is protected and if it may be exploited by third parties. Several reports by non-profit organizations have pointed out privacy and security issues in some popular parenting apps.
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