Global Smart Toys Market Status, Analysis by Key Players, Recent Trends and Forecast to 2024

The increasing internet penetration, increasing disposable income, and large consumer base are the key factors driving the growth of the smart toys market.

The global smart toys market is expected to grow at a significant rate during the forecast period due to the increasing internet penetration, increasing disposable income, and a large population base. With technological advancements, smart toy have their own intelligence and are interactive, which makes them popular among kids.

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All the major players in the toys industry have started investing in the research and development activities. The hotel and tourism industry and coaching centers have started utilizing smart toys to attract the customers and increase their market base. Advancements in technology and adoption of artificial intelligence by the market players to develop their products are other key trends witnessed in the smart toy industry.

The increasing internet penetration, increasing disposable income, and large consumer base are the key factors driving the growth of the smart toys market. The increasing traction for these toys is attributed to the marketing campaign run by the industry players promoting their products as key in the development and growth of their kids.

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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.

Source: VynZ Research