Smart Toys Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Sarasota, FL -- (SBWIRE) -- 12/21/2018 -- Global Smart Toys Market: Overview
Smart toys are the current day toys, which comprise of artificial intelligence, and include input & output devices, a microprocessor, and volatile or non-volatile memory units. These toys are usually confused with various educational toys, which do not acquire artificial intelligence and are utilized particularly for the reason of knowledge. For instance, a rhyme reciting toy cannot be regarded as a smart toy, even though it consists of microprocessors. The smart toys are integrated with speech synthesizers and speech detection, which can be simply implemented in a hardware and software. Additionally, sensors are being given in many of the modern toys, which allow them to counter to their surroundings, thus making them very realistic.
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Global Smart Toys Market: Growth Factors
The smart toys market is expected to grow quickly owing to factors such as innovation, educative games, technology progress, and increased adaption of the smart toys. This will certainly create new prospects and opportunities for increasing the demand and development of the smart toys market in the future. Integrating current technology into brands is the main competition plan for success in the global smart toys market. Smart toys are making a new kind of entertainment without altering the performance of toys. With the surfacing of IoT (Internet of Things), smart toys are seen as the prospective area where the existing toys and connectivity can be merged into innovating modern toys which are called as smart toys. Also, the advancement in the smart toys to be connected to the mobile application is emerging as a major market for several toys vendors, thus creating a huge demand for this market in the future.
Global Smart Toys Market: Segmentation
The global smart toys market is divided based on end user, distribution channel, type, and geography. Based on distribution channel, the market is classified into toy shops, specialty stores, online market, and others. By end user, the smart toys market is categorized into pre-schoolers, toddlers, stripling, and school-going. Based on the type, it is divided into interactive educational robots, games, and robots.
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Global Smart Toys Market: Regional Analysis
North America is anticipated to dominate the global smart toys market; on the other hand, development of the market in Asia-Pacific is projected to go beyond that of North America in the coming years. It is expected that rise in young population, increase in disposable income, and significant shift towards current and new technology are the most important aspects that are anticipated to propel the expansion of the smart toys market in Asia-Pacific followed by Europe. It is expected that the global smart toys market will be dominated by the United States, owing to the good performance of smart toys and huge demand in this region. Furthermore, it is projected that the Asia-Pacific & Africa is expected to grow at a significant rate.
Global Smart Toys Market: Competitive Players
Some of the most important market players in the global smart toys market are Integrity Toys, Inc., Dream International Ltd., Kids II, Inc., JAKKS Pacific Inc., Konami Corporation, K'NEX Brands, Inc., Mattel, Inc., LeapFrog Enterprises, Inc., Fisher Playmates Toys, Inc., Price, Inc., TOMY Company Ltd., and Sanrio Company Ltd., among others.
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Global Smart Toys Market: Regional Segment Analysis
The Asia Pacific