Despite economic headwinds in some markets, the toys and games industry continues to see growth globally. However, the continuing adoption of smart devices and digital entertainment at an ever earlier age puts a spotlight on the need for seamless integration of physical play and the digital world on a number of levels. Successful future innovation will require an even deeper understanding of children’s activities as well as the gender divide in approaches to games, playtime and socialising.
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A growing proportion of children aged 0-12 years have easy access to mobile phones, tablets, gaming devices and computers, leading to an increase in the time children spent playing video games, on social media and watching TV/video. This trend will continue, including in developing markets, where smart devices are becoming popular for entertainment.
Continued industry growth will require the seamless integration of the physical and digital worlds to attract modern consumers, both parents and children, and to reach wider bases. Integration and “co-dependence” of the physical and digital spheres is likely to strengthen in the coming years.
Licensing will remain a significant part of the toys and games industry landscape, as well as a key aspect of the integration of digital and physical gaming. Successful local and regional licences will remain on the watch list.
While video games are surging across all regions, in traditional toys and games, the role of emerging and developing markets is rather stronger than that of the rather sluggish developed regions. In traditional toys, the share of developing regions in sales is predicted to rise from 32% in 2018 to 39% in 2023.