LONDON–(BUSINESS WIRE)–Dec 17, 2019–
The global smart toys market is expected to post a CAGR of almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global smart toys market 2019-2023 (Graphic: Business Wire)
Jobs in STEM discipline are expected to witness a sharp rise in the future. This is prompting many parents to focus on improving professional skills in their children and making them future ready. Hence, many vendors are introducing STEM toys to develop professional skills such as coding, programming, and engineering in children. These factors are expected to fuel the growth of the global smart toys market during the forecast period.
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As per Technavio, the use of AR in toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Smart Toys Market: Use of AR in Toys
AR toys are highly interactive and improve learning among children by engaging them in game scenarios. They also help children improve their analytical and reasoning skills. Their growing popularity is encouraging many vendors to launch a wide range of AR-based games and toys. For instance, in January 2018, Viacom International announced its plans to introduce smart toys such as AR coloring and activity books and AR activity box sets. This trend is expected to boost the growth of the global smart toys market during the forecast period.
“3D printing of toys and the emergence of battery-free smart toys will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Smart Toys Market: Segmentation Analysis
This market report segments the global smart toys market by technology (Wi-Fi, Bluetooth, and RFID/NFC), distribution channel (online and offline), and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the rising demand for STEM toys in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendor Analysis
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 12/17/2019 01:30 PM/DISC: 12/17/2019 01:31 PM
http://www.businesswire.com/news/home/20191217005501/en
