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Rising Awareness about Modern Toys in Canada and US to Contribute in Placing North America Region at top in the Global Smart Toys Market

Press release Description

Albany, New York, October 16, 2017: Global smart toys market is expected to see remarkable growth during the projected period of five years, i.e. 2017 to 2022. This growth is mainly due to the factors such as rising per capita income, changing lifestyle, growing urbanization, increasing population, and rising awareness among people about modern toys which can be played outside and inside as well. According to the new research report, “Smart Toys Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022,” that has been added in the database of Market Research Reports Search Engine (MRRSE), the global market for toys is likely to expand with significant Compound Annual growth Rate throughout the assesses period. Nevertheless, modern toys are costly affair and therefore this particular factor is likely to act as a challenge for the global market for toys.

Global Smart Toys Market- Segmental Analysis and Forecast

This market is basically segmented into interfacing device, wireless communication technology and type of toy. The segment of type of toy consists of puzzles and building games, mechanical toys, health-tracking toys or wearables, voice or image recognition toys, screenless toys, toys-to-life and others. Among all these segments based of type of toys, the segment of voice of image recognition smart toys is likely to grab around 31.1% revenue share of the total market. With a CAGR of 3.7%, this segment is likely to achieve the value of US$ 2,720.4 Mn in 2022, while in 2017, this segment is anticipated to be valued US$ 2,271.7 Mn. Considering this growth, according to this research report, the segment of voice or image recognition smart toys is expected to show the annual growth of US$ 89.7 Mn during the projected period. 

Interfacing device consists of drones, smartphones, consoles and tables. While another segment called wireless communication technology is segmented into NFC, Wi-Fi, RFID, Bluetooth and others. 

Global Smart Toys Market- Regional Analysis and Forecast

With a CAGR of 3.3%, North America region is expected to value US$ 1,802.0 Mn in 2017 and is likely to expand at US$ 2,119.2 Mn by the end of 2022. The two key factors which are responsible for the growth of the global market for toy in North America are growing buying ability of population in Canada and the U.S. and rising rate of adoptability of new technology.

The second largest region in this market is Europe with nearly 23.9% revenue share in 2017. Apart from Europe and North America, Asia Pacific excluding Japan is likely to expand at a CAGR of 3.9%. The region is densely populated and high number of population is between the age group of five to 14. The per capita income in the countries like China and India is increasing which pull the more and more customers. The market for smart toys in APEJ is likely to touch the value of US$ 1,619.6 Mn by the end of 2022, while Japan’s market is anticipated to create an absolute $ opportunity of around US$ 56.1 Mn throughout the projected period.

Global Smart Toys Market- Key Vendors

Some of the key players are SmartGurlz ApS, Fisher-Price Inc., Reach Robotics Ltd, Activision Blizzard Inc., Wow Wee Group Ltd, The Hasbro Inc., Genesis Toy Co. Ltd, LeapFrog Enterprises, and Seebo Interactive Ltd.

Browse Full Global Smart Toys Market Report with TOC :

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