The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more30 pages, May 2017
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Interactive toys, which can sense and play with children, are entering the market and are poised to see major growth. While there are numerous markets that will be lucrative for interactive toys, China, the US, the UK and Germany are expected to be among the most enthusiastic adopters. From these markets we can see a pattern of what drives sales of interactive toys, namely high incomes, STEM interest and small hyper-connected households.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Interactive toys is expected to be a major area of growth for traditional toys and games, with China, the UK, Germany and the US leading global sales. While there are numerous similarities in these markets, it is their growing upper-income group, high parental interest in STEM, and an increase in small tech-savvy households that is driving the adoption of interactive toys.
Interactive toys, due to the numerous sensors and internal AI-driven computers that need to go into them to give them interactive functionality, are inherently priced very high compared with other toys. Markets need both a robust and increasing base of high-income households to make interactive toys viable.
Interest in STEM, in particular the technological portion of STEM, is key in the growth of interactive toys. Numerous new interactive toys allow for some amount of coding, which is critical for core interactive toy markets, where parents believe coding is one of the best paths to a successful career for their children.
Within the core interactive toys markets the number of children per household is typically small or in decline, while the adoption of new technology is high. This means there are increasing numbers of single-child households with tech-savvy children in need of a playmate, making interactive toys more attractive.
The factors of high incomes, STEM interest and shrinking households, which will grow sales of interactive toys in the US, the UK, Germany and China, hold implications for other markets in the future. Markets such as India and Mexico could become prime targets for interactive toys through to 2030.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.