The Latin America, Middle East and Africa Smart Toys Market would witness market growth of 19.9% CAGR during the forecast period (2021-2027).
With inbuilt software that allows speech and image recognition, app integration, RFID capability, and web searching functions, these toys give a personalized play experience for youngsters. One of the primary factors driving the demand for smart toys is the adoption of STEM (Science, Technology, Engineering, and Math) toys for children's skill advancement. Through smart engagement and behavioral learning, smart toys improve professional abilities such as computing and engineering. The popularity of smart toys will be boosted further as parents continue to embrace products that can aid in their children's intellectual development.
A rhyme narrating toy, for example, cannot be termed a smart toy despite the fact that it contains microprocessors. Speech recognition and speech synthesizers, which may be simply implemented in software and hardware, are included in today's smart toys.
The surging demand for various skill-developing games and toys across this region is driving the utilization of these toys. Also, the disability rate of the kids among LAMEA is growing higher, the educational infrastructure of the country needs to be evolved, the growing disability rate of children in Africa would immensely increase the demand for smart toys to enhance and facilitate the process of engaging these children in advanced value-based learning technology could become one of the major factors responsible for the growth of the smart toys market in this region.
Due to this, parents have spent more money on purchasing advanced learning & educational toys, including smart toys, to develop some skills in their children by playing with these toys.
The Brazil market dominated the LAMEA Smart Toys Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $464 million by 2027. The Argentina market is exhibiting a CAGR of 20.6% during (2021 - 2027). Additionally, The UAE market would display CAGR of 19.6% during (2021 - 2027).
Based on Product, the market is segmented into Interactive Games and Robots. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Smart Toys Market is Predict to reach $24.2 Billion by 2027, at a CAGR of 15.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LEGO Group (KIRKBI A/S), Mattel, Inc., Hasbro, Inc., Tomy Company, Ltd., VTech Holdings Limited, Pillar Learning, Geobra BrandstÄtter Stiftung & Co. KG, Sega Sammy Holdings, Inc. (Sega Toys Co., Ltd.), Primo toys, and Konami Holdings Corporation.
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