The doll, toy, and game market comprises of sales of doll, toy, and game products and connected services by numerous entities (organizations, sole traders and partnerships) that establish doll, toy and game products. A doll is a small-scale figure of a human being utilized as a child’s plaything. A toy is an object optimized as a child’s plaything. A game is a commotion or a puzzle which frequently comprises skill, knowledge, or chance and improves a child’s cognitive abilities.
The Doll, toy, and game products involve the action figures, automobile toys, balls, rubber, checkers, checker boards, craft and hobby kits, dart and dart games, dishes, doll carriages, doll clothing (excepting wigs), embroidery kits, children’s go carts, hobby horses, kites, marbles, model kits, model railroad, musical instruments optmized as toys, toy rifles, science kits, scooters, structural toy sets, stuffed toys, toy furniture, toy trains and equipment, tricycles, children’s vehicles, video game machines for the children comprising the high-end game consoles (only hardware units), wagons, and walkers, amongst others.
According to the report analysis, ‘Doll, Toy, And Game Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that the worldwide doll, toy, and game market is predicted to deduction from USD 102.6 billion during 2019 to USD 101.7 billion throughout 2020 at a compound annual growth rate (CAGR) of -1%. The deduction is mainly due to economic slowdown around the countries due to the COVID-19 outbreak and the procedures to comprise it. The market is then projected to recover and augment at a CAGR of 9% from 2021 and reach USD 128.5 billion throughout 2023.
Lego; Nintendo; Mattel; Hasbro; Nerf and several others which presently functioning in the doll, toy, and game market for leading the highest market growth and registering the handsome worth of the market share around the globe while deducting the price of such, establishing the several research and development programs, analyzing the strategies and policies of the government as well as competitors, implementing several effective profit making strategies, delivering the better consumer satisfaction, spreading the awareness connected to such, and employing the young work force.
In addition, the Asia Pacific region was the largest region around the worldwide doll, toy, and game market, registering for 31% of the market during 2019. North America was the second largest region dominating for 27% of the worldwide doll, toy, and game market. Africa was the slightest region in the worldwide doll, toy, and game market.
Not only has this, the requirement for the smart toys is on the growth due to its user engaging property. The Smart Toys are electronic component entrenched toys that have their own intelligence and performs according to the environmental stimuli. It allows to deduct the smartphone industry threat by utilizing the artificial intelligence to attract children. Several smart toys like Spin Master’s collaborating Luvabella baby doll, Hasbro’s bluetooth-connected Furreal motorized pet, Barbie’s futuristic hologram Barbie, Lego’s app-based coding playset and Mattel “smart” baby observer have been launched. Therefore, in the near years, it is anticipated that the market of doll, toy and game will increase around the globe more proficiently over the upcoming years.
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Ankur Gupta, Head Marketing & Communications