Growth opportunities in the Toys and Games Market look promising over the next six years. This is mainly due to the continuous technological expansion resulting in a change in consumer behavior and the growing popularity of FIFA and counterstrike.
Toys and Games Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent driver responsible for the growth of the global toys and games market includes the increasing prominence of interactive and multi-purpose toys and games. Also, the ongoing technological development in the industry has resulted in a substantial change in consumer behavior, which has thereby strengthened the market share. For example, VR and AR headset has impelled the increase in the endorsement of the video games by children, raising market growth. Moreover, the inclusion of enlightening series of gaming and toys has magnificently supported the market growth. According to the “Asian Journal of Education and Training,” better evolution of humanity is characterized by the miniatures and activities which help to build up a framework of the relationship with culture and education. This is inclining individuals to adopt these games and enhance their child’s growth. In addition, the escalating demand for the replication of instruments such as a keyboard, guitar, and drums, art and craft toys, and stuffed toys. The accelerating penetration of social media, rising audience, and enlarging user engagement are some other factors bolstering the market growth. In accordance with the “The Toy Association, Inc.,” sales of toys extended from 2014-2019 by 15%, which shows The prominent driver responsible for the growth of the toys and games market includes the increasing prominence of interactive and multi-purpose toys and games. Also, the ongoing technological development in the industry has resulted in a substantial change in consumer behavior, which has thereby strengthened the market share. For example, VR and AR headset has impelled the increase in the endorsement of the video games by children, raising market growth. Moreover, the inclusion of enlightening series of gaming and toys has magnificently supported the toys and games market growth. According to the “Asian Journal of Education and Training,” better evolution of humanity is characterized by the miniatures and activities which help to build up a framework of the relationship with culture and education. This is inclining individuals to adopt these games and enhance their child’s growth. In addition, the escalating demand for the replication of instruments such as a keyboard, guitar, and drums, art and craft toys, and stuffed toys. The accelerating penetration of social media, rising audience, and enlarging user engagement are some other factors bolstering the market growth. In accordance with the “The Toy Association, Inc.,” sales of toys extended from 2014-2019 by 15%, which shows the considerable potential of the market.
Furthermore, the increasing adoration of FIFA, counterstrike, PUBG, and video games has remarkably promoted market growth. The intensified number of smartphones, computers along with the aggravating per-capita income, have strongly promoted the digital gaming market. The worldwide endorsement of smartphones has exhibited an extraordinary boost. As per the GSM Association, their worldwide endorsement, by the end of 2017, touched 59% and is projected to reach more than 79% by the end of 2025, respectively. Thus, with the increasing rate of adoption, the demand and the number of consumers will also rise, which will propel market growth. However, the rigorous norms imposed by the U.S. government for not using the games produced in China will hinder market growth. the considerable potential of the market.
Furthermore, the increasing adoration of FIFA, counterstrike, PUBG, and video games has remarkably promoted market growth. The intensified number of smartphones, computers along with the aggravating per-capita income, have strongly promoted the digital gaming market. The worldwide endorsement of smartphones has exhibited an extraordinary boost. As per the GSM Association, their worldwide endorsement, by the end of 2017, touched 59% and is projected to reach more than 79% by the end of 2025, respectively. Thus, with the increasing rate of adoption, the demand and the number of consumers will also rise, which will propel market growth. However, the rigorous norms imposed by the U.S. government for not using the games produced in China will hinder market growth.
Toys and Games Market’s leading Manufacturers:
- Playmates Toys Limited
- BANDAI NAMCO Holdings.Inc
- Mattel
- K’NEX
- Integrity Toys, Inc.
- TOMY
- MEGA Brands Inc.
- LEGO Group
- JAKKS Pacific
- Hasbro
Toys and Games Market Segmentation:
Segmentation by Product Type
- Games and Puzzles
- Infant and Pre-School Toys
- Construction Toys
- Dolls and Accessories
- Outdoor and Sports Toys
- Video Games
- Others
Segmentation by Distribution Channel
- Online Channel
- Offline Channel
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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