Globally Robot Toys Market Overview:
Over the last few years, robot toys have gained huge popularity across the educational sector where are used these toys for educating children entertainingly and funnily. A robot toy is an artificial agent, doing things it is designed for. The main objective of robotic toys is to deliver an experience that facilitates the studentís skill, knowledge, and attitude development. The increase in the use of autonomous robot toys for educating an individual or a group is anticipated to influence the market growth over the forecast period.
|Unit||Value (USD Million)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
Demand for High-Quality Product (Robot Toy)
Market Growth Drivers:
Smart Toy Robots Often Come With Educational Apps and Games to Help Child Learn, Increase in Awareness of Technology Education Sectors, Development of Robots toys with High Artificial Intelligence and Increasing Use of Robot Toys among Children and Senior Adults
Increasing Need for More Diversity in Types of Robot Toys Available
High Cost Associated with Robot Toys
Rising Technologically Improvement in Robot Toys
The robot toys market is fragmented market due to the presence of a large number of established competitors. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. Robots toys with High artificial intelligence are the main driver of market growth. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are WowWee Holdings Inc. (Hong Kong), Wonder Workshop (United States), Robotical (United Kingdom), Robo Wunderkind (Austria), BYROBOT CO., LTD. (South Korea), Spin Master (Canada), Anki (United States), Petronics (United States) and Robotech srl (Italy). Additionally, following companies can also be profiled that are part of our coverage like Prioria Robotics (United States), Mimoco (United States) and SciRobot (Turkey). Considering Market by Interfacing Device, the sub-segment i.e. App will boost the Robot Toys market. Considering Market by Categories, the sub-segment i.e. Programmable will boost the Robot Toys market. Considering Market by Distribution Channels, the sub-segment i.e. Online will boost the Robot Toys market. Considering Market by Connectivity, the sub-segment i.e. Wired will boost the Robot Toys market. Considering Market by Age Group, the sub-segment i.e. 3 - 4 years will boost the Robot Toys market.
Latest Market Insights:
On January 2023, Spin Master Corp., a leading global children's entertainment company, announced it has reached an agreement to acquire the HEXBUG brand of toys from the award-winning toy company, Innovation First International, Inc. HEXBUG products feature robotic technology with ingenious movement inspired by nature, giving kids a whimsical and imaginative play experience.
On January 2023, Dog-E was launched at CES (Consumer Electronics Show) by WowWee, a global innovator of robotic toys and consumer entertainment products. Dog-E is a ground-breaking robot dog that is unique to every owner as a result of over a million possible combinations of colorful lights, sounds, and personality traits. Dog-E is a smart, app-connected robot dog with life-like movements, audio sensors to hear sounds, touch sensors on its head, nose, and sides of its body, and a POV (persistence of vision) tail that displays icons and messages to communicate.
What Can be Explored with the Robot Toys Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Globally Robot Toys Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Robot Toys
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Globally Robot Toys market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Robot Toys market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.