BANGALORE, India, Oct. 19, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Smart Toys Market Based on Control Type (Wired and Wireless), Based on Distribution (Online Market, Retail/Stationary Shops, and Specialty Toy Shops), Based on Type (Educational Robots, Interactive Games, and Robots) By End-User (Pre-Schoolers, School Going, and Toddlers) and Region – Global Forecast to 2025", published on Valuates Reports
The Global Smart Toys Market size is expected to grow from USD 8,286.85 Million in 2019 to USD 20,145.29 Million by 2025 at a Compound Annual Growth Rate (CAGR) of 15.95% During the Forecast Period.
The growth of the demand for smart toys is driven mainly by the rise in disposable income among middle-income groups and technological developments in creative and interactive toys. Also, the market's growth is also driven by increased awareness of smart toys and the availability of different types of smart toys for indoor and outdoor sports and education purposes.
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TRENDS INFLUENCING THE SMART TOYS MARKET SIZE
The key factors expected to drive growth in the global smart toys market size are the growing number of working women, resulting in comparatively less parenting time from the recent past.
In addition, increasing disposable income among middle-income groups and growing technological innovations in order to build creative and interactive toys are expected to fuel the smart toys market growth.
The rising disposable incomes of the consumers worldwide, majorly in the developed economies, are propelling them to embrace advanced smart home devices and technologies.
Increasing adoption of technologies like AR, VR, Smart Homes, and Connected Mobile Devices are driving the growth of smart toys market size. Technologies such as augmented and virtual reality, through real-world simulations, help children develop their imagination and improve their thinking abilities. It also makes the process of learning innovative and develops their leadership skills. Augmented Reality ( AR) games are used to develop children's analytical and thinking abilities, further influencing the market for intelligent toys.
Many players in the industry are focused on creating new goods to draw buyers around the world. Because of rising smart product demand, companies are investing in global smart toys for research and development activities in order to support the growth of the target market. These growing investments are, in turn, expected to increase the growth of the smart toy market size.
SMART TOYS MARKET SHARE ANALYSIS
Due to the growing urban population and the rising number of smart toy manufacturing companies in the region's countries, the market in Europe is expected to record the highest growth rate in revenue.
Due to rising disposable incomes and busy lifestyles among people in the region, the North American market is expected to account for the highest smart toy market share.
The Asia Pacific market accounted for the second-highest revenue in the global market for smart toys, owing to a rise in disposable revenue among consumers in the region's countries.
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SMART TOYS MARKET SEGMENTATION & COVERAGE:
This research report categorizes the Smart Toys to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Type, the Smart Toys Market studied across Educational Robots, Interactive Games, and Robots.
Based on Control Type, the Smart Toys Market studied across Wired and Wireless.
Based on Distribution, the Smart Toys Market studied across Online Market, Retail/Stationery Shops, and Specialty Toy Shops.
Based on End User, the Smart Toys Market studied across Pre-Schoolers, School Going, and Toddlers.
Based on Geography, the Smart Toys Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and the United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and the United Kingdom.
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SIMILAR REPORTS :
- Connected Toys Market
The global Connected Toys market is valued at 4497.4 Million USD in 2020 is expected to reach 9378.4 million USD by the end of 2026, growing at a CAGR of 10.9% during 2021-2026.
- Educational Toys Market
The global Educational Toys market size is projected to reach USD 45780 Million by 2026, from USD 29010 Million in 2020, at a CAGR of 7.9% during 2021-2026.
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