Smart Toys Market Perceiving Growth, Competitive Analysis, Future Prospects and Forecast 2024

Internet is an attractive option for everyone and therefore increasing demand for Internet-connected devices is contributing towards extensive growth smart toys market worldwide as these toys are extremely helpful for both parents and the children. Some of these toys work as an assistant that can wake up the child in the morning, remind them of assignments, answer their questions and get them to bed by time. Parents can analyze the activity of their children through an online dashboard as well.

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Increasing upgradation in technology, adoption of smart devices along with the explosion of smartphones is the key trend observed in the growth of the smart toys market. All the major players in the toys industry have started utilizing their resources towards research and development activities and manufacture smart toys.

Furthermore, it has been observed that the working mothers have started relying on these toys as it helps them to effectively manage their children and attain reasonable satisfaction thereby bolstering the growth of smart toys market across the globe.

North America is the largest smart toys market as the region is observing rampant adoption for artificial services by households in the U.S. that have significantly contributed towards the revenue growth of this market.

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Asia-Pacific is anticipated to grow at fastest rate in smart toys market during the forecast period. The increasing popularity of artificial intelligence among large population in the country such as Japan is enabling the country to extensively invest towards these smart toys.

Some major players in the smart toys market include Sanrio Company Ltd., Konami Corporation, Fisher Playmates Toys, TOMY Company Ltd., Dream International Ltd., Kids II Sanrio Company Ltd., JAKKS Pacific Inc., Integrity Toys, Inc., Mattel, Inc. and Leap-Frog Enterprises Inc.

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Created on May 2nd 2019 06:14. Viewed 278 times.

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