Jan 15, 2020 (Market Insight Reports via COMTEX) -- MarketInsightsReports present a comprehensive research report namely "Global Connected Toys Market Report 2020" which reveals an extensive analysis of global industry by delivering the detailed information about Forthcoming Trends, Customer's Expectations, Technological Improvements, Competitive Dynamics and Working Capital in the Market. This is an in-depth study of the market enlightening key forecast to 2026.
Market Key Players
LEGO Group, Sphero, Mattel, PLAYMOBIL, Hasbro, Sony, KNEX, Konami, PlayFusion, Anki, WowWee, DXTR Labs, Leka, Wonder Workshop.
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The global Connected Toys market is valued at 4497.4 million US$ in 2020 is expected to reach 9378.4 million US$ by the end of 2026, growing at a CAGR of 10.9% during 2021-2026. In todays technology connected world comprising of IoT and smart technology, these toys are expected to witness increased popularity. These toys make learning fun for children. These toys are equipped with voice-recognition technologies and typically use sophisticated sensor-based technologies to collect information and cloud platforms to process and interact with the user.
Scope of the Report
Connected toys primarily consist of a microphone and speaker, and an app to process the data. These toys offer a more personalized experience for children through embedded software that includes speech recognition software. Also, these toys can help parents keep track of the whereabouts of their children.
Key Market Trends
Smartphone Connected Toys are Expected to Witness Significant Growth
Connected toys, also considered as smart toys come are available in various shapes and designs but all having one common element that is the connectivity allowing the children to interact with the toy through a smart device or smartphone.
Owing to the rapid technological advancements, children's toys are already computerized and connected to the internet and will continue to witness many more advancements in the near future. Moreover, an increase in the number of internet users coupled with the increased adoption of various hand-held devices like smartphones and tablets is driving the market across the globe.As artificial intelligence and robotics have become more affordable as compared to the past years, the technology has been incorporated into a wide range of children's toys. This not only offers a new interactive experience to the children but also extends the life of toys with multiple features.
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)