Smart Toys Market is primarily driven by inflating disposable incomes among individuals.

SHERIDAN, WYOMING, UNITED STATES, August 29, 2022 /EINPresswire.com/ -- IMARC Group’s latest research report, titled “Smart Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global smart toys market is expected to exhibit a CAGR of 16.97% during 2022-2027. Smart toys use advanced technology to enrich playing while interacting with the child. These child interactions are either through the initiation of open-ended play suggestions or by responding to the child's actions in a way that sparks the child's creativity. It typically offers three diverse types of responses, such as sound, light, or movement, in response to a child's actions. These toys possess artificial intelligence, consisting of a microprocessor, volatile or non-volatile memory units, and input and output devices. They are integrated with speech recognition and translation, which can be easily implemented in a software and hardware platform. Various sensors in smart toys enable them to react to their surroundings, making them more realistic.

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Global Industry Growth:

The global market is primarily driven by inflating disposable incomes among individuals. In line with this, the adoption of technology in the education industry is positively influencing the market. Furthermore, rapid innovations in technology are creating a positive outlook for the market. Apart from this, the increasing awareness regarding technologies, such as the IoT, AI, machine learning and deep learning, are catalyzing the product demand. Moreover, the rising smartphone penetration and growing awareness regarding smart toys through tablets, smartphones, and social media platforms are encouraging customers to adopt technology-led toys. Besides this, key players in the industry are contributing to the adoption of e-commerce and social media platforms to expand their consumer base. Additionally, the increasing importance of education-based learning is acting as an opportunity for key players to introduce learning toys equipped with technologies, thus providing a boost to the market.

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Global Industry Trends:

Some of the players in the market are introducing educational robots that are compatible either through Android or iOS devices. The availability of toys online is offering numerous opportunities to the vendors to diversify by adopting social advertising of their products and utilizing TV media to cater to a larger consumer base. Besides, the growing investment for the development of AI and IoT technology, the expansion of 3D printing technology, and proximity sensors in toys are other factors responsible for the growth of the smart toys market. Rising interests of the kids towards animated movies is also expected to generate new growth opportunities for the market.

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Key Market Segmentation:

Breakup by Product:

• Robots
• Interactive Games
• Educational Toys

Breakup by Technology:

• Wi-Fi
• Bluetooth
• Others

Breakup by Interfacing Device:

• Smartphone Connected
• Tablet-Connected
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Online Stores
• Specialty Stores
• Others

Breakup by End User:

• Toddlers
• Pre-Schoolers
• School-going
• Stripling

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
•
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