Major companies in the dolls, toys and games market include Lego; Nintendo; Mattel; Hasbro and Nerf. The global doll, toy, and game market is expected to grow from $97. 99 billion in 2020 to $102.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Doll, Toy, And Game Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025301/?utm_source=GNW
26 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $135.66 billion in 2025 at a CAGR of 7%.
The dolls, toys and games market consists of sales of dolls, toys and games by entities (organizations, sole traders and partnerships) that produce dolls, toys and games. The dolls, toys and games market is segmented into electronic toys and non - electronic toys.
Asia Pacific was the largest region in the global doll, toy, and game market, accounting for 32% of the market in 2020. North America was the second largest region accounting for 27% of the global doll, toy, and game market. Africa was the smallest region in the global doll, toy, and game market.
NFC (near field-communication) technology is increasingly being integrated with toys and games to enable interaction and improve engagement. NFC allows users phone to interact within a radius of about 4 cm and provides a wireless connection between devices. NFC stickers and inlays can be inserted in game controllers and consoles, as well as physical toys and cards. Users can also link controller and consoles in gameplay by simply tapping the other NFC device. NFC enabled game consoles, NFC enabled cars, NFC enabled board games are some other products that use this technology. For instance, Mattle introduced Hot wheels id, which enable kids to race their NFC-enabled Hot wheels on its smart track and scan their collections into a free iOS app. In the app, which acts as a virtual garage, kids can track speed and laps via infrared sensors in the Hot Wheels Race Portal, which scans your cars and connects to classic Hot Wheels tracks. Sphero, Anki Drive are some other companies offering NFC enabled cars.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the doll, toy, and game manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the doll, toy, and game manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The doll, toy and game manufacturing market are expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.
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