Smart Toys Market Overview:
The Smart Toys market research gives a detailed view of the competition, including the market share and company profiles of the major competitors in the global industry. The scope of the research includes a comprehensive examination of the Smart Toys Market, as well as the reasons for variations in the industry's growth in various locations.
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Global Smart Toys Market is expected to grow at a CAGR of 15% during the forecast period. Global Smart Toys Market is expected to reach US$ 36.03 BN by 2029.
Market Scope:
Following the completion of market engineering, which included calculations for market statistics, estimations of market size, market forecasts, market breakdown, and data triangulation, significant primary research was done to acquire information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up techniques, as well as many data triangulation methodologies, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all facts obtained over the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
The market for smart toys can be divided into different categories based on type, technology, and distribution method. Depending on the type, there are app-enabled mechanical toys, screen-free toys, toys with voice or image recognition, puzzles and building games, toys that come to life, toys that track your health, and more. It is anticipated that there will be a rising demand for mechanical toys that can be controlled by apps during the forecast period. In 2021, the voice or image recognition toys segment held a 31% market share. The market for smart toys is segmented into Wi-Fi, Bluetooth, RFID, and NFC based on technology. The market for smart toys will grow in the coming years as a result of technological advancements used to create novel and interactive toys.
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Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Smart Toys market are as follows:
• Integrity Toys, Inc.
• Dream International Ltd.
• Kids II, Inc.
• JAKKS Pacific Inc.
• Konami Corporation
• K’NEX Brands, Inc.
• Mattel, Inc.
• LeapFrog Enterprises
• Fisher Playmates Toys, Inc
• Price, Inc.
• TOMY Company Ltd.
• Sanrio Company Ltd.
• Playmobil
• Pillar Learning
• Sega Toys Co. Ltd.
• Hasbro Inc.
• Lego System A/S
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Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Smart Toys market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Smart Toys Market:
End-user industries where Smart Toys are utilised saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Smart Toys manufacturers, influencing the development of the Smart Toys market in 2020. End-user business demand for Smart Toys has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Smart Toys Market Report are:
- In 2021, which segment held the highest proportion of the Smart Toys market?
- What is the Smart Toys market's competitive landscape?
- What are the primary drivers assisting Smart Toys market growth?
- Which region has the most market share in the Smart Toys market?
- What will be the Smart Toys market's CAGR throughout the projected period (2022-2027)?
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