Global Smart Toys Market was valued US$3.87 Bn in 2017 and is estimated to reach US$6.51 Bn by 2026 at a CAGR of 5.15%.
The growth of the smart toys market is primarily due to the growing awareness of technology, internet, etc. which encourages children to play with them. Changing lifestyle, advancement in artificial intelligence drives the smart toys market. Increasing urban population and rapidly growing smart toy consumers in emerging countries such as China and India are the key factors projected to fuel the growth of the smart toys market during the forecast period. Security and privacy become the main concern for smart toys market. Government policy on the value and the price of the products may hinder the global smart toys market growth over the forecast period.
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Global smart toys market can be segmented on the basis of type, technology, and distribution channel. Based on type includes app-enabled mechanical toys, screen fewer toys, voice or image recognition toys, puzzles, and building games, toys-to-life, health-tracking toys or wearable, and others. Increasing demand for app-enabled mechanical toys is projected to experience high CAGR during the forecast period. Voice or image recognition toys segment accounted for 31% market share in 2017. On basis of technology, smart toys market is classified into Wi-Fi, Bluetooth, RFID or NFC. Advancement in technology to develop innovative and interactive toys fuels smart toys market growth in coming years.
Distribution channel segment includes toy shops, e-commerce or online stores, offline stores, specialty stores, and others. The toy shop segment dominated the global smart toys market in 2017. Offline stores include mass stores, supermarkets, etc. Consumers most possibly select offline stores sector that is looking for smart toys. Growing awareness about e-commerce and online sales also sets a notable impact on smart toys market. It is anticipated to account for the highest CAGR over the coming years.
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In terms of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. North America is projected to lead the global smart toys market during the forecast period. High technology-oriented toys also require active and flexible IT support, which is available in a majority of the companies in the region.
key players operating in the global smart toys market such as Integrity Toys, Inc., Dream International Ltd., Kids II, Inc., JAKKS Pacific Inc., Konami Corporation, Kâ€™NEX Brands, Inc., Mattel, Inc., LeapFrog Enterprises, Inc., Fisher Playmates Toys, Inc., Price, Inc., TOMY Company Ltd., and Sanrio Company Ltd.
The scope of Report Global Smart toys Market:
Global Smart toys Market, by Type:
App-enabled mechanical toys
Voice or image recognition toys
Health-tracking toys or wearable
Puzzles and building games
Global Smart toys Market, by Technology:
Global Smart toys Market, by Distribution Channel:
E-Commerce Or Online Stores
Global Smart toys Market, by Region:
Middle East & Africa
Key Players Global Smart toys Market:
Integrity Toys, Inc.
Dream International Ltd.
Kids II, Inc.
JAKKS Pacific Inc.
Kâ€™NEX Brands, Inc.
Fisher Playmates Toys, Inc
Price, Inc., TOMY Company Ltd.
Sanrio Company Ltd.