Zion Market Research, the market research group announced the analysis report titled "Smart Toys Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024".
Sarasota, FL -- (SBWIRE) -- 02/10/2018 -- Global Smart Toys Market: Overview
Smart toys contribute for a share in their emerging phase, in which the growth of new products, specifically owing to the up-and-coming ways with the AI (artificial intelligence) and IoT (Internet of Things), is providing numerous novel opportunities. A chapter on overview explains the executive summary, delivering market introduction along with the definition of smart toys market, to know broad scope of the market to readers. In other chapters, the report offers information on the latest dynamics including the driving factors, restraining factors, opportunities and trends that affect growth expansion of the market.
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Global Smart Toys Market: Growth Factors
The product demand is anticipated to increase in the global smart toys market at a significant rate, mainly due to numerous factors including varying lifestyle of urban people having high disposable income but less time for their children, advancements in the Internet of Things (IoT) and artificial intelligence (AI), along with increasing awareness of advantages offered by the present smart toys—both indoor and outdoor. However, the high price of these smart toys is anticipated to hinder the growth of the global smart toys market in the near future. Nevertheless, the vendors in the global smart toys market rely on new advancements in order to expand profit.
Global Smart Toys Market: Segmentation
The global smart toys market is segmented on the basis of interfacing device, wireless communications technology. and type of toy. The global smart toys market is classified based on the type of toy as screen-less toys, app-enabled mechanical toys, image or voice recognition toys, wearables or health-tracking toys, toys-to-life, building and puzzles games, and others. Based on the interfacing device, the global smart toys market is segmented as tablets, smartphones, drones, and consoles. Based on the wireless communications technology, the global smart toys market is bifurcated as Bluetooth, Wi-Fi, NFC or RFID, and others.
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Global Smart Toys Market: Regional Analysis
North America is anticipated to be the leading player in the global smart toys market in the near future. In addition, elevated adoptability of novel technologies and significant buying capacity of the citizens of Canada and the United States are other factors enhancing the growth of the global soft toys market in North America. This trend is expected to be followed by Europe grabbing a considerable share in the global smart toys market in terms of demand for the product. In developing countries such as China and India, rising disposable income of people and increasing number of customers are factors positively impacting the growth of the global smart toys market.
Global Smart Toys Market: Competitive Players
Some of the major players in the global smart toys market are Activision Blizzard Inc., Fisher-Price Inc., The Hasbro Inc., Spin Master Corp., SmartGurlz ApS, Genesis Toy Co. Ltd., Seebo Interactive Ltd., Wow Wee Group Ltd., LeapFrog Enterprises, Inc., and Reach Robotics Ltd. Majority of these prominent players are heavily investing in R&D (research and development) activities of this market. This is due to the fact that niche and novel products help in increasing the sales considerably. Despite the fact that the market is presently in emerging phase, enhancements in the AI and IoT are anticipated to provide numerous opportunities in the global smart toys market.
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