Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Smart Toys Market size is expected to reach $24.2 billion by 2027, rising at a market growth of 15.4% CAGR during the forecast period.
The Interactive Games segment is leading the Global Smart Toys Market by Product 2020, thereby, achieving a market value of $19.4 billion by 2027. Interactive games are a fun method to study and explore new & innovative learning. Players are challenged to solve puzzles in a virtual environment in interactive games. These games can also be utilized in order to help preschoolers learn their letters and alphabets. In addition, The Lego Group offers LEGO dimensions, which interact with players via NFC technology.
The Online segment shows high growth rate of 16.9% during (2021 - 2027). It is owing to the convenience that is offered by these channels to the customers. Online distribution channels allow the customer to get the product delivered at their doorstep. Moreover, the online distribution channel also offers the customer a broad range of products from vendors across the world on affordable prices.
The North America region acquired maximum revenue share in the Global Smart Toys Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.9 billion by 2027. The Europe market is exhibiting a CAGR of 14.5% during (2021 - 2027). Additionally, The Asia Pacific market would display CAGR of 17.3% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/smart-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 LEGO Group (KIRKBI A/S), Mattel, Inc., Hasbro, Inc., Tomy Company, Ltd., VTech Holdings Limited, Pillar Learning, Geobra BrandstÄtter Stiftung & Co. KG, Sega Sammy Holdings, Inc. (Sega Toys Co., Ltd.), Primo toys, and Konami Holdings Corporation.
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