Press release
Smart Toys Market is Projected to Expand at a Promising CAGR of 17.1% during the forecast period 2022-2029| Size & Forecast Report
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-smart-toys-market/
Key Drivers
Factors which include the rising per-capita income, primarily across the developing nations and increasing adoption of the advanced technologies such as the Internet of Things are projected to expand the smart toys market size. The emergence of 5G technology has encouraged the adoption of smart devices and toys over the forecast period. Moreover, the increasing popularity of educational robots in classrooms for storytelling and play-to-learn interactive tablet toys to offer a high-quality gaming and learning experience is acting as a significant growth-inducing factor. Furthermore, various leading players have launched advanced toys that use TV media and cartoon characters to make students learn, which is likely to drive the market growth. Besides this, the expansion of e-commerce industry offering smart toys at discounted prices and convenient delivery options, will strengthen the market growth. Additionally, the increasing incorporation of smart toys with numerous advanced technologies, which include proximity sensors, machine learning, artificial intelligence, and voice recognition, will offer enormous opportunities for the market.
End-User Segment Analysis
Based on the end-user, the toddler's segment is expected to witness a faster CAGR during the forecast period, owing to the increasing number of children of ages ranging from 1 to 2 years. In addition, the increasing awareness among the parents regarding the remarkable features provided by smart toys will further strengthen the growth of the segment.
Distribution Channel Segment Analysis
Toy shops segment is projected to dominate the market during the forecast period, owing to the detailed information and captivating discount offered by the toy shops under one roof. The online segment is likely to hold a higher share during the forecast period, as the availability of toys online helps leading players to diversify their adoption and promote the products via social advertising.
Regional Analysis
North American region is predicted to dominate the market over the forecast period owing to the augmenting adoption of advanced technological system in the toy industry and accelerating per-capita income of the consumers in this region. On the other hand, the Asia-pacific region is expected to witness a promising growth over the forecast period because of the growing middle-class population and increasing inclination towards educational learning toys.
Key Developments:
In 2020, the Lego Group introduced the latest Lego Super Mario's Adventures in partnership Mario Starter Courses where consumers can place a pre order for their kids.
Market Segmentation:
Global Smart Toys Market by Type
Robots
Interactive Games
Educational Robots
Global Smart Toys Market by Distribution Channel
Online
Speciality Stores
Toy Shops
Others
Global Smart Toys Market by End User
Toddlers
Pre-Schoolers
School-going
Stripling
Global Smart Toys Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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