Toys Market in Europe 2018-2022 | Adoption of STEAM Toys for Children’s Skill Enhancement to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Aug 7, 2018--The toys market in Europe is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the toys market in Europe from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing frequency of product launches with innovative features. The toy industry is one of the largest business sectors in Europe, which is attributable to the presence of many small and big-sized companies. The market competitors are catering to the growing demand for toys by launching different variants that incorporate new technologies and are interactive and educational. Moreover, popular competitors such as Hasbro, Mattel, and the LEGO Group are seen designing toys that are technologically advanced with interactive features, and other conventional toys with improved features to attract parents and other end-users. Therefore, all these factors are expected to drive the growth of the toys market in Europe during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the adoption of STEAM toys for children’s skills enhancement as one of the key emerging trends in the toys market in Europe:
Toys market in Europe: adoption of STEAM toys for children’s skills enhancement
The comprehensive range of toys available in the toys market in Europe includes entertainment and educational toys, which teach and reinforce STEAM skills among children. The STEAM toys are one of the fastest growing categories in both the global toys market and the toys market in Europe. These toys are designed to teach coding, logical skills, analytical skills, language, and advanced scientific and mathematical concepts. Also, they are designed to encourage children to involve their parents and educators while playing. Parents and trainers appreciate such toys as they foster the development of critical-thinking, problem-solving, reasoning, and spatial skills in children. These toys are customized and can be operated through smartphones, which enhances the children’s skills while entertaining the children. Thus, with such advantages associated with toys, the market is predicted to have a positive outlook during the forecast period.
“Brand conscious customers in the market are attracted to brands that deliver superior quality products that cater to their needs. The general consumer perception of luxury toys is that they want a more durable toy equipped with multiple features. Thus, the introduction of innovative features in toys is expected to have a positive impact on the growth of the toys market in Europe,” says a senior analyst at Technavio for research on toys and baby products.
Toys market in Europe: Segmentation analysis
This market research report segments the toys market in Europe by product (games and puzzles, infant and pre-school toys, construction or activity toys, soft or plush toys, dolls and accessories, and outdoor and sports toys) and geographical regions (UK, France, Germany, Italy, and ROE).
The UK region accounted for a market share close to 19%, followed by France, Germany, and Italy respectively. However, during the forecast period, Italy is predicted to have the highest incremental growth, followed by France. The market share of the regions is expected to remain stable over the forecast period with marginal variation.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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