Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Connected Toys Market size is expected to reach $23.4 billion by 2028, rising at a market growth of 19.7% CAGR during the forecast period.
The Entertainment market is exhibiting a CAGR of 19.9% during (2022 - 2028). Playing with toys that have entertainment components for kids helps parents and other adults build relationships with children while having fun. Along with schooling, toys and games are essential for a child's growth. A child's strengths and interests first start to show during their childhood.
The Teenagers (13-19 years) market is leading the segment in the Global Connected Toys Market by Age Group in 2021; thereby, achieving a market value of $8.7 billion by 2028. Teenagers appear to spend a lot of time online and utilizing technology, sometimes it seems like the majority of their day. Young folks play online games and use social media and the internet, comparatively more than the other age groups. Due to this, the demand for connected toys would rise by this age group in the near future.
The Bluetooth market is showcasing a CAGR of 19.9% during (2022 - 2028). While many smart toys on the market today feature voice and/or image recognition, app integration, and/or RFID functionality, Bluetooth offers nearly unmatched design possibilities for toys because it empowers seamless close-range connection & control between toys and smartphone apps in addition to integration with certain other Bluetooth devices.
The PC/Laptop market is generating high revenue in the Global Connected Toys Market by Interfacing Device in 2021; thereby, achieving a market value of $14.8 billion by 2028. Other uses for gaming laptops include video rendering and various other tasks. The best gaming experience is made possible by gaming laptops, which enable users to play games at high - resolution and with the most advanced graphics settings while maintaining a constant frame rate.
The Online market is experiencing a CAGR of 20.4% during (2022 - 2028). This can be attributable to the rising use and popularity of e-commerce platforms. Additionally, many shops provide significant Christmas and New Year discounts, which reduce the cost of making purchases online.
The North America market dominated the Global Connected Toys Market by Region in 2021; thereby, achieving a market value of $8.5 billion by 2028. The Europe market is experiencing a CAGR of 19.2% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 20.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/connected-toys-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Age Group
By Interfacing Device
By Distribution Channel
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