Published Date: 26-Sep-2021
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According to a new report Global Toys and Games Market, published by KBV research, The Global Toys and Games Market size is expected to reach $469 billion by 2027, rising at a market growth of 6.2% CAGR during the forecast period.
Electronic games acquired the largest market share in 2020. Technological advancements have led to an increase in consumer spending on virtual reality items, video game tournaments, and video content. The rising number of mobile & online gaming and consumer inclination from physical towards digital software distribution, are some factors accelerating the demand for electronic games.
The offline distribution channel segment obtained the largest market share in 2020 whereas the online segment is projected to exhibit the fastest growth during the forecasting years. The e-commerce websites that are introduced by manufacturers and accumulators are a part of the online segment. The manufacturers are planning to present more e-commerce websites after seeing the potential of the online channel that will help in increasing their profit margins.
Asia-Pacific acquired the highest market share in 2020. Organizations extended their reach to nations like Japan & China by opening new stores at different locations and enhancing e-commerce. For example, Lego introduced approximately 134 retail sites in 2020 of which 91 were in China. Currently, 678 Lego-branded stores are available across the globe associated with opening 120 more stores among which 80 stores are located in China.
Full Report: https://www.kbvresearch.com/toys-and-games-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 Microsoft Corporation, Sony Corporation (Sony Interactive Entertainment LLC), VTech Holdings Limited, NetEase, Inc., LEGO Group (KIRKBI A/S), Dream International Limited, Nintendo Co., Ltd., Mattel, Inc., JAKKS Pacific, Inc. and Playmates Toys Limited (Playmates Holdings Ltd.).
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