Smart Toys Market Size to Value USD 4.27 Bn | 32% of the market growth contribution from APAC | Technavio – QNT Press Release


NEW YORK, May 13, 2022 /PRNewswire/ — The smart toys market potential growth difference is anticipated to reach USD 4.27 billion from 2021 to 2026. The report also predicts the market to witness a decelerating growth momentum at an estimated CAGR of 11.5% during the forecast period. The smart toys market growth is likely to be driven positively by the adoption of STEM toys for the skill enhancement of children.

Our market analysis report on “Smart Toys Market by Service and Geography – Forecast and Analysis 2022-2026” has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the implementation during the forecast period.

Smart Toys Market Report Key Highlights

  • Estimated year-on-year growth rate: 14.47%
  • Key market segments: Technology (Wi-Fi, Bluetooth, and Others), Distribution channel (Offline and Online) and Geography (North America, EuropeAPAC, Middle East and Africaand South America)
  • Key Consumer Region & contribution: APAC at 32%

Smart Toys Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 11.5%

Market growth 2022-2026

$4.27 billion

Market structure

Fragmented

YoY growth (%)

14.47

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 32%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Activision Blizzard Inc., Digital Dream Labs, Genesis, geobra Brandstatter Stiftung and Co. KG, Hasbro Inc., Innovation First International Inc., LEGO System AS, Makeblock Co. Ltd., Mattel Inc., Miko, Ozobot and Evollve Inc. , Primo Toys, Silverlit Toys Manufactory Ltd., Sony Group Corp., Sphero Inc., Spin Master Corp., Ubtech Robotics Inc., VTech Holdings Ltd., WowWee Group Ltd., and ZURU Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Do reach out to our analysts for more customized report as per needs. Speak to our Analyst now!

Smart Toys Market Trend

  • Emergence of 3D printing
    The emergence of 3D printing is a smart toys market trend that is expected to have a positive impact in the coming years. 3D printers are likely to become affordable in the coming years. Licensors are trying to protect their products and figuring out methods to legitimize do -it-yourself (DIY) merchandise and derive revenue from it. Many licensors such as Hasbro are offering licenses to 3D printing companies by providing access to specific assets and distinguishing them from other licensed merchandise available in the market. Many market players are introducing 3D printing tools for building and modifying toys at home. Such innovations in 3D printing are expected to propel the growth of the market in focus during the forecast period.

Smart Toys Market Challenge

  • Adverse climatic conditions
    The high availability of substitutes will be a major challenge for the smart toys market during the forecast period. Smart toys have many substitutes, such as traditional toys and video games. One of the key challenges that smart toys face is their premium prices. As they are costlier than traditional toys, price-sensitive consumers may consider smart toys unnecessary and overpriced luxury commodities, especially in underdeveloped economies where people have low purchasing potential. The popularity of video games is expected to grow continuously as video games are increasingly replacing traditional toys and games. This may also limit the market’s growth.

Get your sample report copy for extensive insights on key market Drivers, Trends, and Challenges influencing the smart toys market.

Key market vendor insights

The smart toys market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Some of the key market vendors are:

  • Activision Blizzard Inc.
  • Digital Dream Labs
  • Genesis
  • geobra Brandstatter Stiftung and Co. KG
  • Hasbro Inc.
  • Innovation First International Inc.
  • LEGO System AS
  • Makeblock Co. Ltd.
  • Mattel Inc.
  • Miko
  • Ozobot and Evollve Inc.
  • Primo Toys
  • Silverlit Toys Manufactory Ltd.
  • Sony Group Corp.
  • Sphero Inc.
  • Spin Master Corp.
  • Ubtech Robotics Inc.
  • VTech Holdings Ltd.
  • WowWee Group Ltd.
  • ZURU Inc.

For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download sample report

Full story available on Benzinga.com



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