The gold rush of smart toys in China (part one)
The rapid development of science and technology has not only created a tremendous convenience for life, but also brought more fun to us. For the toy market, toys with high tech have given birth to a further development of the market itself. The intelligentization of toys has become an inevitable trend in the development of the toy industry. And as the demand of toys increases, the potential of the smart interactive toy market is enormous.
In modern life, Chinese people are more and more willing to buy different kinds of smart toys for children. They consider smart toys as an effective tool that can accompany children and teach them through playing at the same time. At present, the toys market in China is also welcoming a high-speed development, and this billion-dollar smart toy market is waiting to be tapped.
Compared with overseas markets, domestic smart toy market still has a lot of space for development. Why hasn't this market formed a complete business model yet? Why are the smart factors still at the basic level? And why doesn't the domestic smart toy market have brand effect even consumers have high demand for these kinds of toys? Is it so hard to intelligentize IP toys?
According to media reports, in 2002-2017, being supported by the Asia-Pacific region, which has a large number of children and sustained economic development, especially China, the total consumption of the global toy market the global toy industry has shown a modest growth of 2%-3%. In contrast, the consumption level of the domestic toy market was driven by external factors such as per capita income increasing and two children policy, reaching twice that of the global. The domestic market began to enter the new round of rapid growth in 2014, and has steadily increased year by year, in the same period, the growth of domestic market is much higher than that of the global toy market. By 2019, Chinese toy market will presumably increase to 13.88 billion dollars.
Due to the implementation of two children policy since January 1, 2016, China is welcoming a new wave of baby boomers, and these newborn babies will directly drive the sales of infant toys. According to the prediction from Euromonitor, the number of children within 14 years old in China will reach 260 million in 2030, 20 million more than the number in 2016. If we use 43.4 dollars, the figure of the average consumption per child in 2016 in calculation, the sales of toys bring by these 20 million children is about 868 million dollars. Therefore, it can be seen that smart toys, as the new favorite among parents, will bring more trading scale to the market.
As the consumption ability continues to escalate, many parents are willing to increase spending on their children's growth and education, and accept products with new technology to accompany their children. Education and companionship have always been common problems for parents, many of them cannot accompany their children at all times but believe in a tenet that you have to let your children run before the starting gun fires. In the hope of their children can learn at least something even when playing, smart toys naturally become one of the best choices for solving this kind of need to a certain extent.
Coveting the huge potential of smart toy market, apart from traditional toy manufacturers that actively research and develop, internet companies have also stepped into the field of smart hardware for children, including smart watches, smart robots, smart toys, etc. For instance, in January of this year, Tencent and Lego teamed up in the field of smart toys and launched an online operating system in China that matches Lego's own smart toys, proving an experience with high tech, high interaction and high level. Xiaomi, 360 and other companies have launched their own children's companion robots one after another.
In modern life, Chinese people are more and more willing to buy different kinds of smart toys for children. They consider smart toys as an effective tool that can accompany children and teach them through playing at the same time. At present, the toys market in China is also welcoming a high-speed development, and this billion-dollar smart toy market is waiting to be tapped.
Compared with overseas markets, domestic smart toy market still has a lot of space for development. Why hasn't this market formed a complete business model yet? Why are the smart factors still at the basic level? And why doesn't the domestic smart toy market have brand effect even consumers have high demand for these kinds of toys? Is it so hard to intelligentize IP toys?
According to media reports, in 2002-2017, being supported by the Asia-Pacific region, which has a large number of children and sustained economic development, especially China, the total consumption of the global toy market the global toy industry has shown a modest growth of 2%-3%. In contrast, the consumption level of the domestic toy market was driven by external factors such as per capita income increasing and two children policy, reaching twice that of the global. The domestic market began to enter the new round of rapid growth in 2014, and has steadily increased year by year, in the same period, the growth of domestic market is much higher than that of the global toy market. By 2019, Chinese toy market will presumably increase to 13.88 billion dollars.
Due to the implementation of two children policy since January 1, 2016, China is welcoming a new wave of baby boomers, and these newborn babies will directly drive the sales of infant toys. According to the prediction from Euromonitor, the number of children within 14 years old in China will reach 260 million in 2030, 20 million more than the number in 2016. If we use 43.4 dollars, the figure of the average consumption per child in 2016 in calculation, the sales of toys bring by these 20 million children is about 868 million dollars. Therefore, it can be seen that smart toys, as the new favorite among parents, will bring more trading scale to the market.
As the consumption ability continues to escalate, many parents are willing to increase spending on their children's growth and education, and accept products with new technology to accompany their children. Education and companionship have always been common problems for parents, many of them cannot accompany their children at all times but believe in a tenet that you have to let your children run before the starting gun fires. In the hope of their children can learn at least something even when playing, smart toys naturally become one of the best choices for solving this kind of need to a certain extent.
Coveting the huge potential of smart toy market, apart from traditional toy manufacturers that actively research and develop, internet companies have also stepped into the field of smart hardware for children, including smart watches, smart robots, smart toys, etc. For instance, in January of this year, Tencent and Lego teamed up in the field of smart toys and launched an online operating system in China that matches Lego's own smart toys, proving an experience with high tech, high interaction and high level. Xiaomi, 360 and other companies have launched their own children's companion robots one after another.
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