About Smart Toys
Smart toys consists of its own intelligence and behaves as per the pattern. These smart toys are connected to the internet or cloud. The smart toys enhances the skills of the children and also improves the professional skills such as coding, programming and engineering. In addition, it is also used for the education and learning purpose. Moreover, the smart toys are installed with speech recognition and speech synthesizers which are implemented in software and hardware. Hence, these are increasing the demand of smart toys.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market of smart toys is fragmented and the companies are focusing on the innovations. The emerging economies are to estimate positive growth due to the factors such as rising disposable income in upcoming years. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Smart Toys market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Dream International (China), Jakks Pacific (United States), Hasbro Inc. (United States), Kid ii Inc. (United States), Playmobil (United States), The Lego Group (Denmark), Mattel Inc. (United States), KNEX Industries Inc. (United States), Konami Corporation (Japan) and Leapfrog Entertainment (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Smart Toys market by Type (Screen less toys, App-enabled mechanical toys, Voice or image recognition toys, Health-tracking toys or wearable, Toys-to-life and Puzzles and building games) and Region.
On the basis of geography, the market of Smart Toys has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Toddlers will boost the Smart Toys market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Market will boost the Smart Toys market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Wi-Fi will boost the Smart Toys market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising usage of augmented reality in toys is increasing the demand. The augmented reality helps in improvement of analytical and reasoning skills of children. The companies are looking to launch the AR based toys such as AR activity box sets. Hence, the rising usage of technology will further fuel the demand of smart toys in upcoming years.
Market Growth Drivers:
Rising Concerns of Children Spending Time of Digital Devices is leading to Increase in Promotion of Smart Toys and Increasing Popularity of Smart Toys among the Children
Restraints:
High Costs Associated with the Smart Toys Due to the Involvement of Technology and Security and Privacy Concerns May Affect the Market Growth
Opportunities:
Increasing Disposable Income in Emerging Economies and Technological Advancements in Smart Toys
Market Leaders and their expansionary development strategies
In August 2019, Hasbro has announced to acquire entertainment one adding brands. This acquisition will strengthen the position in global play and Entertainment.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.