Smart Toys Market Size Is Expected To Reach USD 34.13 Billion By 2028


 San Francisco, 24 March 2022: The Report Smart Toys Market Size, Share & Trends Analysis Report By Product (Interactive Games, Robots, Educational Toys), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2021 - 2028

The global smart toys market size is expected to reach USD 34.13 billion by 2028, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 16.5% from 2021 to 2028. The rise in disposable income, coupled with the growing demand for coding skills, is fueling the growth of the market. The growing importance of coding and STEM learning in schools and other organizations is propelling the demand for smart toys. The use of educational robots in classrooms for storytelling and play-to-learn interactive tablet toys help in delivering superior gaming and learning experience to students and players.

Key players in the market are utilizing TV media and famous cartoon characters to capitalize on branded content to improve the entertainment value. The inclusion of social media and OTT platforms provides companies in the market to garner a larger consumer base in the market. Dora the Explorer and Sesame Street are some of the famous cartoons that are interactive.

Further, key players like Mattel Inc. and Hasbro Inc. have reported an increase of 4% increase in revenue in the last quarter of 2020. The lockdown orders in several parts of the world led to the majority of time spent with family, thereby increasing the sales of board games and cards. Companies in the market optimized the use of online retailing by providing discounts and offers to consumers to increase revenue. For instance, as per Spielwarenmesse, a fair organizer has reported that several independent retailers during the pandemic shifted to online operations to survive during the pandemic. 

Access Research Report of Smart Toys Market @ https://www.grandviewresearch.com/industry-analysis/smart-toys-market-report

Smart Toys Market Report Highlights

  • Based on product, the interactive games segment held the largest revenue share in 2020 due to the increasing internet penetration worldwide
  • In terms of distribution channel, the offline segment held the largest revenue share in 2020 owing to the large presence of local manufactures and toy producers
  • In 2020, North America held the largest revenue share owing to the increasing disposable income and rising demand for educational toys in classrooms
  • Asia Pacific is anticipated to witness the fastest growth from 2021 to 2028. Rapid urbanization, rise in flexible income, and a promising demographic base are increasing the demand for toys in the region

List of Key Players of Smart Toys Market

  • Playmobil
  • Pillar Learning
  • Sega Toys Co. Ltd.
  • LeapFrog Enterprises Inc.
  • Mattel Inc.
  • Hasbro Inc.
  • Lego System A/S
  • Robofi LLC
  • Tomy Co. Ltd.
  • Doctor's Associates Inc.

Access Press Release of Smart Toys Market @ https://www.grandviewresearch.com/press-release/global-smart-toys-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Food Additives Market Size & Share Hit USD 55.53 Billion By 2022 : Grand View Research Inc.

Image
San Francisco, 17 October 2019:   The Report   Global Food Additives Market   Analysis By Product Flavors & Enhancers (Natural, Artificial), Sweeteners (High Intensity, HFCS), Enzymes, Emulsifiers (Mono, Di-Glycerides, Lecithin, Stearoyl Lactylates, Sorbitan Esters), Shelf-life Stabilizers, Fat Replacers (Protein, Starch)] And Segment Forecast To 2022 Global food additives market is expected to reach USD 55.53 billion by 2022, according to a new study by Grand View Research, Inc. Food & beverage industry growth in BRICS and Middle East on account of rising domestic consumption and increasing foreign direct investments is expected to augment market growth. Asia Pacific is expected to be one of the most promising markets on account of growing domestic consumption in China and India owing to population growth and new product launches by food & beverage manufacturers. Availability of raw materials such as sorbitol and lactic acid in China, Indonesia, and Malaysia in light o
Read more

Integration Platform as a Service Market Valuation Is Expected To Exceed USD 2.70 Billion By 2025: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Integration Platform as a Service (IPaaS) Market  Analysis By Integration Type (API, Process, Application, Data), By Services, By Deployment (Cloud, On-Premise, Hybrid) By Region, And Segment Forecasts, 2018 – 2025 The global integration platform as a service (IPaaS) market is expected to reach USD 2.705.8 million by 2025, according to a new report by Grand View Research, Inc. Rising need of advanced systems to improve the process of deploying, developing, and managing enterprise applications globally has been a major factor driving market growth. In addition, recent developments in big data, cloud computing, and Internet of Things (IoT) within organizations’ processes also paved the way for greater development of IPaaS solutions. Integration Platform as a Service is an emerging technology where in the applications, process, data, and application programs are integrated. The integration enables enterprises to reduce the complexity
Read more