Connected Toys Market Key Players Change the View of the Global Face of Industry by 2025-Mattel, Inc., Hasbro, Inc., Sphero, Wonder Workshop, Inc

Connected Toys Market by Component, Application, Services, and Region- Forecast to 2025

The Global Connected Toys Market Research Report 2021-2025 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Connected Toys business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Connected Toys worth chain and its wholesaler examination. Connected Toys Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The connected toys market was valued at USD 7.62 billion in 2019 and is expected to register a CAGR of 24.3% over the forecast period (2020 - 2025).

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Top Leading Companies of Connected Toys Market are Mattel, Inc., Hasbro, Inc., Sphero, Wonder Workshop, Inc., Sony Corporation, WowWee Group Limited, Leka SAS, LEGO System A/S, Bandai Namco Entertainment, Inc., Anki inc. and others.

-Industry News And Updates on Connected Toys Market-

North America is Expected to Hold the Largest Market Share

- North America is expected to dominate the global connected toys market with a major market share. The rapid adoption of technological advancements in the region and the integration of technology in various learning and leisure gadgets and high penetration of connectivity services stand to be key factors driving the market's growth.

- Increasing adoption of these toys among toddlers and preschoolers in the US and Canada on account of strong product awareness through e-commerce portals and print and digital media is expected to remain a favorable factor over the coming years. Various toy providers and manufacturers are making significant developments and innovations in their products and offerings, which will further contribute to the region's growth.

-Key Market Trends Connected Toys Market-

Smartphone Connected Toys are Expected to Witness Significant Growth

- Connected toys, also considered as smart toys, come are available in various shapes and designs. Still, all having one common element is connectivity allowing the children to interact with the toy through a smart device or smartphone. Many manufacturers have been producing toy units that can fly using nothing more than an app and a Wi-Fi or Bluetooth connection.

- With the rapid technological advancements, childrens toys are already computerized and connected to the internet and will continue to witness many more upgrades in the near future. Moreover, an increase in the number of internet users, coupled with the increased adoption of various hand-held devices like smartphones and tablets, is driving the market across the globe.

-Competitive Landscape On Connected Toys Market-

July 2019 - Bandai Namco launched a new platform, Tori, which will combine physical toys with iOS and Android apps. Tori is the product of a strategic collaboration between Bandai Namco and the French technology firm ISKN.

- June 2019 - Mattel Inc. signed a licensing pact with Sanrio Inc. to design and develop products based on Sanrios Hello Kitty and other characters. That will add to a Mattel stable that includes the iconic Barbie doll and Fisher-Price toys, Hot Wheels, and American Girl dolls.

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