Press release
Smart Toys Market Growth and Business Opportunities in Coming Years 2021 - 2031, TMR Study
Smart Toys Market
Smart toys companies are expanding their product lines to meet the increasing demand for smart toy products. Moreover, strong product innovation among smart toys companies with newer features in smart toys is expected to boost the market during the forecast period. In addition, companies are adopting latest technologies to provide extra benefits and more comfort to clients, and also to boost their own efficiencies. All this is expected to have a positive impact on the global smart toys market during the forecast period.
๐๐๐ญ ๐๐จ๐ซ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ - https://www.transparencymarketresearch.com/smart-toys-market-2018-2026.html
๐๐ฆ๐๐ซ๐ญ ๐๐จ๐ฒ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ
In terms of product type, the app-enabled toys segment is expected to dominate the smart toys market during the forecast period. Based on growth rate, the toys-to-life segment is expected to expand at a faster rate during the forecast period. Smart toys are projected to go through rapid acceptance in the educational industry. Several strategies and approaches have been established to increase the revenue of smart toys over the years, with technological alliances considered to be one of the most promising strategy. Alliances and collaborations are beneficial for both the parties i.e. the technology providers as well as leading players in the toy industry. However, concerns related to data security are on the rise as there are many examples regarding data privacy, security breaches, and a few cases of data breach. Hence, in order to deal with these issues, toy industry players may opt for alliances with tech giants to come up with technologically advanced and secured smart toys. For instance, as Apple, Inc. is well-known for its uncheckable servers and significant technological advancements, toy manufacturers form alliances/ integration with Apple or any other tech firm.
In terms of age group, the 13 to 18 years segment is anticipated to hold major share and maintain the share during the forecast period. Vendors in the smart toys industry are increasingly integrating innovative features in existing products. With the increasing focus of vendors on offering more convenience to end users, the smart toys market is anticipated to witness a large number of innovations and product expansion.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=49725
๐๐ฆ๐๐ซ๐ญ ๐๐จ๐ฒ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ ๐ข๐จ๐ง๐ฌ
Based on region, the Asia Pacific smart toys market has been categorized into China, India, Japan, and Rest of APAC. China accounted for dominant share of the APAC smart toys market in 2020 and is expected to remain dominant during the forecast period. The smart toys market is projected to be driven by rise in demand for Internet of Toys and increasing technology.
Japan is expected to register the highest CAGR in the future in the APAC smart toys market. Key players operating in the smart toys market in the region are adopting new technologies to provide quality products to their customers. Increasing promotional activities are also anticipated to have a positive impact on the market in the region.
๐๐๐ญ ๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=49725
๐๐ฅ๐จ๐๐๐ฅ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Key players operating in the global smart toys market are Hasbro Inc., Sony Corporation, Jakks Pacific Inc., Mattel Inc., The Lego Group, Playmobil, Kid II, Inc., KNex Industries Inc., Konami Corporation, and Leapfrog Entertainment, among others.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
Nikhil Sawlani
Transparency Market Research Inc.
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