July 27, 2019 by zhouyueyue
According to a new market report published by Credence Research Black Andy Dalton Jersey , Inc., 鈥淕lobal Connected Toys Market (By Toy Type (App-enabled Mechanical Toys & Drones, VoiceImage Recognition Toys and Health Tracking ToysWearables), By Device Type (Smartphone & Tablet Connected Toys, Laptop Connected Toys and Console Connected Toys), By Connectivity Type (Wi-Fi Black Michael Jordan Jersey , Bluetooth and RFIDNFC)) - Growth, Future Prospects and Competitive Landscape, 2018 鈥?2026鈥? the global connected toys market is expected to witness a growth of 14.1% CAGR during the forecast period from 2018 to 2026.
Browse the full report at Product Insights:
The global connected toys market is expected to reach US$ 69.16 Bn by 2026, growing at a CAGR of 14.1% during the forecast period from 2018 to 2026. The toy industry has been even more enchanted with the potential of Internet of Things. Connected toys have already engaged in direct communication with children, real-time tracking of children鈥檚 activities, and in storage of personal data that includes child鈥檚 name Black Renell Wren Jersey , photos and voice recordings. These toys can make learning fun for children and help parents keep track of their whereabouts. Increase in number of internet users coupled with rising popularity of various hand-held devices such as smartphones and tablets together is driving the awareness and growth of connected toys market worldwide.
On the other hand, children are vulnerable consumers who often do not understand exactly how a connected toy works and what risks it may pose. To overcome these security concerns, regulations can play an important role in achieving more secure products. For instance, in the U.S., the Children鈥檚 Online Privacy Protection Rule has been extended to smart toys. Also in Europe, the General Data Protection Regulation likely to have a positive outcome on connected toy data security and privacy.
Based on product type Black Ryan Finley Jersey , app-enabled mechanical toys & drones garnered largest market share in 2017. Advances in application programming interface (API) for connected toys is expected to enhance the market growth. Based on geography, North America led the market in 2017 and is expected to remain dominant in the years to come. Growing adoption of smart technologies in the region is expected to boost the growth of connected toys market in the years to come.
Major players in the connected toys market include Sphero, Hasbro, Sony Corporation, KidsII Inc., Playmobil Black Germaine Pratt Jersey , Fisher-Price, Inc., The Lego Group, Mattel Inc., K鈥橬EX Industries Inc., LeapFrog Enterprises Black Drew Sample Jersey , Inc., Tomy Company, Ltd., and Jakks Pacific, Inc. among others. The connected toys manufacturers are adopting several strategies in order to thrive in the competitive environment. Partnerships, new product developments remain the most important strategies that are been adopted by the key players to gain an edge over others.
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