Smart toys market expected to grow at a CAGR of 15% during the forecast period. The global smart toys market is expected to reach US$ 36.03 billion by 2029.
Smart Toys Market Overview:
The Smart Toys market study provides a complete picture of the competition, including the market share and company profiles of the major industry competitors worldwide. The scope of the research includes a thorough assessment of the smart toys market as well as the reasons for changes in the growth of the industry in a number of sectors.
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To validate the market size and estimate the market size by various segments, top-down and bottom-up methodologies are used. Market research estimates are based on selling price (excluding any discounts offered by the manufacturer, distributor, wholesaler or dealers). Weights applied to each section based on usage rate and average selling price are used to determine percentage splits, market shares, and segment splits. The percentage of adoption or use of the offered market Size in the relevant region or nation is used to determine country-wise breakdowns of the overall market and its sub-segments.
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Primary and secondary research is used to identify market leaders, while primary and secondary research is used to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists, such as experienced front-line personnel, CEOs and marketing executives. Secondary research included a review of annual and financial reports of major manufacturers, while primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs and marketing executives. Secondary sources are used to calculate percentage shares, market shares, growth rates and global market shares, which are then checked using primary data.
The major players in the Smart Toys market are as follows:
1. Integrity Toys, Inc.
2. Dream International Ltd.
3. Kids II, Inc.
4. JAKKS Pacific Inc.
5. Konami Corporation
6. K’NEX Brands, Inc.
7. Mattel, Inc.
8. LeapFrog Enterprises
9. Fisher Playmates Toys, Inc
10. Price, Inc.
11. The company TOMY Ltd.
12. Sanrio Company Ltd.
14. Pillar learning
15. Sega Toys Co. Ltd.
16. Hasbro Inc.
17. Lego System A/S
18. Robofi LLC
19. Doctor’s Associates Inc.
20. Twin Science
21. Leka Smart Toys
23. Healthy brain toys
24. ROBBY robot
25. LuxAI SA
26. Funvention Learning Pvt. Ltd.
28. Intelligence Labs (India)
Individual components influencing the market and changes in market regulations influencing current and future market trends are also included in the regional summary of the Smart Toys market analysis. Current and future trends are explored to assess the full potential of the market and identify profitable patterns in order to gain a stronger foothold. The geographic assessment of the market is based on the current environment and expected developments.
Analysis of the impact of COVID-19 on the smart toys market:
Due to the stoppage of operations, the end-user sectors where Smart Toys are used experienced a steep decline from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom and the United States, as well as and Spain, France and India. This resulted in a significant decline in the revenue of firms in these industries as well as in the demand for smart toy manufacturers, hurting the growth of the smart toy market in 2020. As a result of lockdowns and increased incidents of COVID-19 all the time in the world, end-user business demand for Smart Toys has declined.
The key questions answered in the Smart Toys Market Report are:
- In 2021, which segment accounted for the largest share of the Smart Toys market?
- What is the competitive landscape of the Smart Toys market?
- What are the key factors influencing the growth of the Smart Toys market?
- In the smart toys market, which region has the largest market share?
- What will be the Smart Toys market CAGR during the forecast period (2022-2027)?