The increase in e-sports and the online market is increasing the opportunities of the Global Toys and Games Market
Covid-19 Impact & Market Status
COVID-19 had impacted the growth of the toys and games market to some extent. Due to lockdown, the manufacturing of toys was paused as there was a shortage of available labor and infrastructure. Also, the production and transport departments had to pause their work. This caused the potential companies a heavy loss and their market value faced a downward trend. This was for the companies that manufactured toys, especially for outdoor games. While there was an increase in the production of online games, hence, e-sports gained a high number of users. This was because people had to stay inside their homes and the online games kept them involved in some activity.
After lockdown, people started the workout and developed an interest in outdoor games that increased the sales of the companies producing toys and games. In this way, the value of the toys and games market increased.
Augmented Reality and Computer Vision are playing a key role in the development of online games and e-sports
Computer Vision, Human-Computer Interaction, Augmented Reality, and other technologies are providing highly advanced platforms for the development of online games. This helps in the creation of a virtual environment that gives real-life experience to the players and makes the game more interactive. This increases user interaction and satisfaction while playing that virtual game. The virtual gaming platforms are highly in demand and these have increased the market value of the toys and games market. Hence, more companies are investing in augmented reality to make their games more interactive and innovative.
The increase in interest of people for video games and outdoor sports has increased the value of the toys and games market
People are paying high attention to their health that has increased the scope of the toys and games market. This increase in interest is for outdoor games and indoor games, especially for video games, has made the potential companies look for various designs and environments that would provide the market with an increased number of users. This has increased the employment ratio and development of a nation.
The increase in technology has enhanced the electronic toys sector that drives the global toys and games market efficiently
The technical growth and development are leading the gaming manufacturers to expand their market by investing more in e-sports and relevant technologies that drive the progress of various potential companies. This is developing the e-sports sector and increasing the employment of people interested in gaming and technology. For this, the potential companies are developing various software and various gaming platforms that provide employment opportunities to gamers and help in the development of the toys and games market.
The Compound Annual Growth Rate (CAGR) of the global toys and games market is expected to be 8.86% with increased market size of USD 99.99 Billion.
Apart from e-sports, various other toys and games tools are being manufactured by potential companies. These include construction toys, plush toys, action figures, and much more that help in the physical growth of the players. Various outdoor sports require various tools and equipment for the game and safety. This equipment helps the players to develop their muscular fitness and maintain their well-being.
Currently, people are paying high attention to their health and immunity, hence, people are self-motivated towards outdoor and indoor games. This helps in upbringing the toys and games market with high-quality equipment. With this, the potential companies are motivated to design high-quality equipment that will be user-friendly and help the players to play efficiently.
Asia is the largest producer of the toys and games market. Most of the potential manufacturers have their centers in Asia and they are constantly working in improving the design and quality of the equipment. Various action figures motivate the players to invest their time and strength in the games of their choice. This helps the players to develop their interest in sports that in return helps them to have a healthy life. Everyone must have a proper physical workout because a sedentary lifestyle has its drawbacks that severely affect the health of a person.
Still, there are certain drawbacks associated with the toys and games market in which online gaming platform is the biggest contributor. It has been observed that students are highly involved in playing online games for several hours that affects their studies. They spend most of their time playing games and neglect their studies that cause an imbalance in their study and leisure time cycle. Due to this, they neglect their mental growth and physical development. Hence, they are involved in a highly sedentary lifestyle that makes them obese and they face various health issues.
It has been observed that continuous playing of online games has resulted in severe headaches, obesity, dizziness, and much more. Due to this, the health rate of various nations is declining and this is decreasing the growth of the global toys and games market.
Apart from this, the development and integration of various technologies for online gaming platforms is very difficult. It requires highly skilled laborers and technicians to design the gaming environment and help in equipment setup. Hence, it is complicated if the player is not familiar with the technology, this limits the market of the toys and games manufacturers.
The major players of the global toys and games market are Spin Master Ltd., Mattle Inc., Takara Tomy Co. Ltd., Lego Group, Konami Holdings Corporation, Bandai Namco Entertainment, VTech Holdings Limited, Dream International Limited, Hasbro inc., Playmates Toys ltd., Sony Interactive Entertainment Inc., Sanrio Company Ltd., Nintendo, NetEase Inc., Microsoft, Ravensburger AG, Franckh-Kosmos Verlags-GmbH, Atlas Games, Clementonic Ltd., The Goliath Games LLC, and JAKKS Pacific Inc.
These potential companies are trying their best to integrate the technology advancement and the required gaming environment to provide better visualization to online gamers and developers. Also, various nations are helping these companies by providing them with manufacturing and transportation expenditure. This support from various organizations helps the overall growth of these companies and increases the sales of online and outdoor games and toys.
Latest Innovations in the Global Toys and Games Market: a Snapshot
- Leading market player FFERONS has recently launched its range of creative building toys for kids to encourage learning through toys. The blocks are all plastic-built and colorful to encourage a longer attention span.
Toys and Games Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 99.99 Billion|
|Growth Rate||CAGR of 8.86% during 2021-2028|
|Segment Covered||Product Type, Distribution Category, End-Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||Spin Master Ltd., Mattle Inc., Takara Tomy Co. Ltd., Lego Group, Konami Holdings Corporation, Bandai Namco Entertainment, VTech Holdings Limited, Dream International Limited, Hasbro inc.|
Key Segments of the Global Toys And Games Market
Product Type Overview, 2018-2028 (USD Billion)
- Games and Puzzles
- Video Games
- Construction Toys
- Plush Toys
- Action Figures
- Dolls and Accessories
- Outdoor and Sports Toys
- Electronic Games
Distribution Channel Overview, 2018-2028 (USD Billion)
- Specialty Stores
End-Users Overview, 2018-2028 (USD Billion)
- 0-8 Age
- 15 and Above Age
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa