Connected Toys Market Poised For Steady Growth In The Future 2019 - 2027

 

Global Connected Toys Market: Overview

Gone are the days when monopoly or a game of building a LEGO spaceship could hold children’s attention. Interactive tech toys or connected toys are a reality that most kids see as a given. A recent study concluded that 90% kids under the age of 2 know how to use a tablet/smartphone.

But, connected toys are not just for the pleasure of kids. They are also gaining popularity among parents who see these as a means to monitor their children while away. For instance, with toys like Teddy the Guardian, they can measure their babies’ temperature as well as heart rate. 

Therefore, it should come as no surprise that the market for connected toys is expected to grow at an impressive CAGR.

Purchase our premium research report at@https://www.transparencymarketresearch.com/checkout.php?rep_id=70752&ltype=S


Global Connected Toys Market: Notable Developments

From board games to Iot-based games, children’s play world has transformed in more ways that could have been imagined just few years back. Participants on the consumer-end of the spectrum demand more from what children’s play thing contribute to in their development. Here are some developments that may define the future of connected toys.

2018 – Facebook partnered with Sphero to utilize play for expanding education and making it more accessible. With more visibility in the classrooms and a favourable opinion created in the minds of parents and teachers alike, the move might create more receptivity in the connected toys market.

2019 – Mattel expanded its licensing agreement with Pixar Animation Studios to bring in fresh releases and epochal blockbusters into its fold. For instance, it made good of the opportunity created by capitalising on the deal in case of Toy Story 4 by eking out 1% sales in its Q2. It is looking at making more from the market interactive play experiences in the coming period.

2020 – Hasbro along with Sony plan on launching connected toys called Ghostbusters, ahead of the release of Ghostbusters 2020. This is similar to Mattel’s move in partnering with movie producers to snap up market share. The pattern discerned also shows that strategic partnerships and product developments remain the most important strategies in times to come.

Looking for customized insights to build your business for future? Ask for a Custom Research

Global Connected Toys Market: Key Trends and Drivers

  • The toy industry is seeing a rise in the number of children and parents enchanted with the potential of internet of things which can successfully combine education with fun and also allows parents to keep a close watch. One such toy that keeps children hooked to Chemistry through the use of art and colours is Crayola Chemistry Set, a compilation of directions and guidelines to 50 science experiments.
  • An increased adoption of Science, Technology, Engineering and Mathematics (STEM) toys is driving demand in a big way and the number of connected platforms are now facilitating it further. The year 2018 saw an increase of 23% in the sales of STEM toys. The toys make 1% of the United States’ toy industry.

Global Connected Toys Market: Geographical Analysis

An early adoption of initiatives for connected toys such as Artificial Intelligence, Machine Learning and voice and speech recognition is expected to help North America hold the largest chunk of the market. Another factor that helps the region have a high-powered grasp on global connected toys market share is availability of funding opportunities, broad consumer base. The positive environment for innovation and availability of skilled workforce also contributes to the position.. 


TMR is a leader in the market research space providing end-to-end business solutions and consulting services. TMR operates from its own office space of almost 10,000 sq. ft located in a prime commercial complex at Pune. We serve clients in 150 countries with an approach to deep dive into the economic aspects and geographical nuances for unfailing business intelligence.

Contact us:

Transparency Market Research
State Tower,
90 State Street, Suite 700,
Albany NY - 12207,
United States
Tel: +1-518-618-1030 Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

Comments

Post a Comment

Popular posts from this blog

Conferencing Microphone System Market Share, Segmentation, Trend, and Forecast To 2021-2031

Image
  Conferencing Microphone System: Introduction A conference system is a collection of audio hardware developed for easy interaction between people taking part in various events, irrespective of the room size. A conference system is also known as a discussion system. Conferencing microphones are wired or wireless gadgets that transfer audio from one or various speakers to an audio system. A conferencing microphone uses different transmission technologies. In wired conference, the microphone uses a cable for the transmission of the signal for communication tasks. It is cheaper and more reliable. In wireless conferences, the microphone uses Wi-Fi or infrared technologies for communication tasks, giving it freedom of movement and avoiding cable issues. Lapel microphones are hands-free & wireless and are fixed to the speaker’s dress, collar, or suit. These microphones must be secured to the correct place on the body for high-quality audio transmission. Conferencing microphone system...
Read more

Last Mile Delivery Transportation Market Clear Understanding Of The Competitive Landscape And Key Product Segments 2021-2031

Image
  Last Mile Delivery Transportation Market Outlook 2031 The  global   last mile delivery transportation market   was valued at   US$  150.39  Bn in  2020 It is estimated to expand at a CAGR of  10.31%  from 2021 to 2031 The  global   last mile delivery transportation market  is   expected to reach the value of US$  477.27  Bn   by the end of  2031 Analysts’ Viewpoint on Last Mile Delivery Transportation Market Scenario “Technological advancements and the booming eCommerce sector will remain the leading factors that will propel the market during the forecast period. In addition, advancements in robotics and projected adoption of semi-autonomous and autonomous delivery vehicles will play an imperative role in redefining last mile delivery transportation in the upcoming years. In order to overcome challenges in the execution of delivery models, companies should increase R&D in leading-edge informa...
Read more

Corrugated Boxes Market Top Companies, Trends and Future Prospects Details for Business Development 2016 - 2024

  Multi Depth Corrugated Boxes Market: Overview Multi depth corrugated boxes are similar to that of conventional corrugated boxes, with an added ability of being used for multiple size applications. These boxes are extensively used in packaging of various goods such as foods, beverages, cosmetics, pharmaceuticals, hazardous chemicals and other materials. In recent years, the demand for multi depth corrugated boxes has increased significantly. This can be attributed to immense size flexibility offered by these boxes coupled with the characteristics of corrugated boxes.  These boxes gives the buyer the leverage to use it for various size requirements, thus reducing inventory and optimizing cost management. Multi depth corrugated boxes have high durability and are light weight coupled with offering significant cost benefits to the buyer. Thus, multi depth corrugated boxes are being increasingly used in secondary packaging of goods, across a variegated range of industries. The glo...
Read more