Skip to main content

Smart Toys Market: Industry Analysis And Detailed Profiles Of Top Industry Players

A fresh market study by the researchers at Transparency Market Research (TMR) reports that the global Smart Toys Market is heavily dependent on product innovation, and that an increasing number of players are venturing into the competitive landscape, eating out significant chunk of the total shares. That being said, a few companies do hold a respectable position in the global smart toys market, such as Activision Blizzard Inc., Fisher-Price Inc., The Hasbro Inc., LeapFrog Enterprises, Inc., Spin Master Corp, Seebo Interactive Ltd, Wow Wee Group Ltd, Genesis Toy Co. Ltd, Reach Robotics Ltd, and SmartGurlz ApS. While Activision Blizzard is a little ahead of the curve, Hasbro is concentrating on revisiting the most popular toys and games. LEGO too has made heavy investments for research and development in the recent past to emerge as a notable competitor in the global smart toys market.


Nascent Market Has Strong Potential for Product Innovation

The demand in the smart toys market, a sector born out of industrial and technological convergence, is projected for an impressive CAGR during the forecast period of 2017 to 2022. However, the market for smart toys is still at its early stage, with Sphero BB8 App-Enabled Droid being the only one that has achieved broad consumer appeal in the toys to life segment. In the near future, currently ongoing R&D efforts by the market leaders is expected to bear fruits and newer products are anticipated to make an impression on a wider population. That is when the demand in the global smart toys market will witness an escalation.

Based on toy-type, the global smart toys market gains maximum demand for voice or image recognition toys, accounting for US$2,271.7 mn in 2017 and projected for a CAGR of 3.7% during the forecast period of 2017 to 2022. This segment is growing at US$ 89.7 mn annually over the course of the forecast period, and this absolute growth is larger than the any other segment, viz.


App-enabled mechanical toys, screenless toys, toys-to-life, puzzles and building games, health tracking toys, wearables, and others. North America is identified as the most lucrative regional market for smart toys, promising a revenue worth US$2,119.2 mn by 2022. On the other hand, the demand for smart toys in the region of Asia Pacific expect Japan (APEJ) is anticipated to expand at an above-average CAGR of 3.9% during the same forecast period.

Increased Disposable Income of Urban Population Driving Demand

Urban population is growing increasing inclined towards restless lifestyle and while they have managed to add to their disposable income, time for personalized parenting is diminishing. Smart toys utilize artificial intelligence, and are punctuated with microprocessors, input and output devices, and volatile or nonvolatile memory units. Smart toys goes beyond just being educational toys, as they can recognize speech as well as react to their surroundings in order to provide a comprehensive entertainment and engagement to children between the age group of five to 14. The growth of the global smart toys market is also a reflection of increasing awareness towards the smart toys and the availability of diverse indoor and outdoor sports and educational toys. On the other hand, high cost of these products, the lack of awareness among large masses, particularly in the emerging economies, regulatory issues for overseas distribution, and impending innovations are some of the challenges that are hindering the prosperity of the global smart toys market.


The emergence of the Internet of Things (IoT) is having tremendous positive effect on the global smart toys market too. With IoT, modern toys are increasingly becoming a potential area wherein connectivity and existing toy types can be collaborated together to innovate appealing new devices, referred to as connected or ‘smart toys’.



Comments

Post a Comment

Popular posts from this blog

Data Center Fabric Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

Fabric-based architecture supports the data center by eradicating the necessity of switch-to-switch interactions, multiple layers of devices and also the shared network protocols. It condenses the complication of a data center network and improves its efficiency. In a data center, fabric embodies interconnection of several servers, storage, and other ports for networking in an ultra-low latency set-up, which provides any-to-any connectivity, making each device only single hop away from every other device. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2227 Data center fabric market is driven by emerging technologies such as data center virtualization, cloud computing and big data analytics. Vendors in this market face challenges such as security issues and scalability in transparent bridging. One of the major opportunities in the market are for providing advanced data center fabric solutions that are more s...
Post a Comment
Read more

RFID Tags Market is Expected to Grow at the Highest CAGR During the Forecast Period

Key players in the  U.S. RFID tags market  are Atmel Corporation, HID USA Corporation, Invengo Information Technology Ltd. Co., and NXP Semiconductors N.V. Competition among them and among other players are expected to heat up further over the course of next few years as they try to expand their market shares both via the inorganic route of mergers and acquisitions and organic route of product development and diversification. A report on the market published by Transparency Market Research finds that it would rise at an 8.5% CAGR over the course of the forecast period starting from 2017 and ending in 2025. At this pace, the market which was valued at US$809.4 mn in 2016, will likely become worth US$1,672.5 mn by 2025-end. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24536 The two types of RFID tags available in the market are active and passive tags. Between the two, the demand for passive RFI...
Post a Comment
Read more

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...
1 comment
Read more