LONDON--(BUSINESS WIRE)--The online toys and games retailing market is expected to grow by USD 9.10 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Technology has penetrated all aspects of life, including the way children learn and spend their playtime. Parents seek toys that help children learn and develop different aspects of their personality such as creativity, logical thinking, and problem-solving. In addition, the development of modern technology and the constant innovations taking place in the field of toys and games have resulted in several consumers opting for multipurpose toys and games, which provide children with knowledge, fun, and entertainment at the same time. This is creating several opportunities for vendors to introduce innovative products with multiple functions and subsequently capture the market share. Thus, the availability of multipurpose toys and games will drive the growth of the market during the forecast period.
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As per Technavio, emerging technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online Toys and Games Retailing Market: Emerging Technologies
New interactive technologies such as NFC connections, holograms, augmented reality, and robotics are expected to be incorporated into traditional toys and games. These technologies are expected to appear in scientific and educational toys as well. The Meccanoid build-it-yourself robot kit by Spin Master allows a user to create a Meccano-style robot and 'bring it to life.' Also, Lego Fusion enables children to build their toy using real Lego bricks and then use it to play through mobile apps. The emergence of such advanced technologies will drive the adoption of toys and games among consumers, thereby driving the growth of the market.
“Factors such as the blurring of boundaries between gender-specific toy, and the emergence of 3D printing will have a positive impact on the growth of the online toys and games retailing market value during the forecast period,” says a senior analyst at Technavio.
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Online Toys And Games Retailing Market: Segmentation Analysis
This market research report segments the online toys and games retailing market by product (activity and ride-on toys, infant and pre-school toys, plush toys, games and puzzles, and others), and geography (North America, APAC, Europe, South America, and MEA).
The North American region led the online toys and games retailing market in 2019, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to factors such as an increasing number of consumers opting for the online purchase of toys and games and the rise in disposable income and a decline in unemployment rates.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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