The Asia Pacific Connected Toys Market would witness market growth of 20.3% CAGR during the forecast period (2022-2028).
Connected toys may appear to be an expensive novelty promoted by shops to increase sales, they are an indication of what is to come with technology, notably artificial intelligence (AI). AI, formerly the domain of more specialized sectors, is now present in toys.
Such toys will investigate user preferences for colors, toys, and other things and utilize these to tailor involvement. Even better, the toy develops its own personality over time. Since data is frequently exchanged over Bluetooth or Wi-Fi, some people could object that these are just toys for the digital era.
Since the term "smart" is frequently used in the technology sector, it's not surprising that there is a lot of discussion about how cleverly linked toys are, to the point that proponents claim they may play a significant role in a child's development. In the universe of products that businesses are currently attempting to promote to parents, connected toys are largely unnecessary or a novelty.
One of the largest toy marketplaces in the world is China. Its potential expansion has created a substantial opportunity for both domestic and foreign toy manufacturers. Children's preference for interactive and multipurpose toys has significantly increased, which has a favorable effect on the connected toy market. Due to the ongoing development of video games over the past few years, the video game industry has established a consistent income model. Consumer expenditure on virtual reality accessories, video content, and video game tournaments has increased significantly as technology has developed.
The China market dominated the Asia Pacific Connected Toys Market by Country in 2021; thereby, achieving a market value of $1,794.4 million by 2028. The Japan market is poised to grow at a CAGR of 19.4% during (2022 - 2028). Additionally, The India market would obtain a CAGR of 20.8% during (2022 - 2028).
Based on Application, the market is segmented into Education, Entertainment, and Other Applications. Based on Age Group, the market is segmented into Teenagers (13-19 years), 9-12 years, 6-8 years, and 1- 5 years. Based on Technology, the market is segmented into Wi-Fi, Bluetooth, and Others. Based on Interfacing Device, the market is segmented into PC/Laptop and Smartphone/Tablet. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Connected Toys Market is Projected to reach USD 23.4 Billion by 2028, at a CAGR of 19.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hasbro, Inc., Mattel, Inc., LEGO Group (KIRKBI A/S), VTech Holdings Limited, ROYBI, Pillar Learning, Ubtech Robotics Corp. Ltd., PlayShifu, Sphero, Inc. and Mainbot SAS
By Application
By Age Group
By Technology
By Interfacing Device
By Distribution Channel
By Country
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