Music Toys Market – Toy created to make musical sounds
- A music toy is a toy used to stimulate a child's intellectual, social, language, and emotional development, with the help of music
- It enables children to learn and develop auditory, motoring, and listening skills, and even inculcate an incredible hobby
- It is an easy way to introduce a child to a variety of musical toys, identify if the child holds affection for any musical instrument, and then investing in a professional musical instrument as the child grows
- Music toys help recognize multiple sounds, understand the mechanism to play each musical instrument, and encourage children to coordinate in a group – an invaluable social skill. Increase in number of children population across the globe is expected to boost the music toys market.
Increase in Disposable Income of Consumers to Boost Global Music Toys Market
- For centuries, toys are the most appealing instruments among children. Rise in disposable income of consumers and availability of smart music toys in the market are found to be attractive among consumers. This is expected to propel the growth of the music toys market across the globe.
Innovation and Technological Enhancements in Products to Drive Music Toys Market
- Technological advancements in products are leading to rise in demand for music toys. Music toys are found to be ideal for user engagement and improving learning ability. In addition, music toys appeal children through digital or live music and multiple noises, which, in turn, is a major driving factor of the market.
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Increase in Number of Children to Propel Music Toys Market
Demand for music toys is increasing across the globe, owing to the rise in children population, especially toddlers. This gives significant market opportunities to the music toy market. In addition, parents opt for music toys as they play an important role in developing their child’s imagination, creativity, and memory as well as communication skills. Furthermore, rapid growth in online distribution channels is expected to influence the growth of music toys market in the next few years.
Asia Pacific to Hold Leading Share of Global Music Toys Market
- The global music toys market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the music toys market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the music toys market analysis and forecast of GCC Countries, South Africa, and Rest of Middle East & Africa. The music toys market in South America is segmented into Brazil and Rest of South America.
- Asia Pacific dominates the global market due to manufacturing industries available in this region
Key Players Operating in Music Toys Market:
The global music toys market is highly competitive with several global and regional players. Major players across the globe are opting for new product development and integrating with appealing music to enhance their position in the market.
A few of the key players operating in the global music toys market are:
- Bandai Co., Ltd
- Geoffrey, LLC
- Giochi Preziosi Spa.
- Hasbro, Inc.
- LeapFrog Enterprises Inc.
- Mattel, Inc.
- Melissa & Doug
- MGA Entertainment Inc.
- Safari Ltd
- Spin Master
- Takara Tomy Company, Ltd.
- The Lego Group
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Global Music Toys Market: Research Scope
Global Music Toys Market, by Type
- Drums & Percussion
- Guitars & Strings
- Pianos & Keyboards
- Wind & Brass
- Others (Microphones, Karaoke, etc.)
Music Toys Market, by Age
- Below 1 Year
- 1–3 Years
- 3–5 Year
- 5–7 Years
- 7–9 Years
- Above 9 Years
Global Music Toys Market, by Distribution Channel
- Online Channel
- Offline Channel
The report on the global music toys market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.