Toys and Games: A Global Outlook
San Jose, CA (PRWEB) September 1, 2008
'Toys and Games' no longer generate an image of a 'plaything' meant for children. Today, the market offers a wide range of products designed for diversified audiences ranging from the 'young' to adults 'young-at-heart'. Although manufacturers continue to hold onto their core of mushy teenagers, and youngsters, they are also hot on the heels of their older counterparts. Older adults are also increasingly embracing the advancements in gaming technologies. The trend is especially evident in the wireless gaming industry wherein the sheer variety of games available is attracting the attention of new sections of the population, who are evincing interest for mobile games. Women, for instance, have entered the spotlight as significant revenue generating audiences for mobile games, such as, puzzles, word, and trivia.
The world toys and games market is forecast to witness increased demand from emerging Asian markets such as China and India, among others. United States, Europe and Japan represent the traditionally large markets for toys and games. In United States and Europe, majority of the sales are generated during the last quarter of the year, which represents the holiday/festive season. Christmas and Thanksgiving are the two important festive occasions, where giving and receiving gifts is an integral part of the festive culture.
Product markets expected to experience the strongest gains are those, which offer a high degree of innovation and incorporate superior technological features, such as, console and computer games, mobile games, and other interactive and intelligent toys.
Video/computer games market is expected to witness rapid growth, driven by the introduction of advanced video games with enhanced features and innovative technologies. Online gaming is another area of growth for the toys and games industry. Wireless gaming is also growing and promises to be the future of gaming in the global market. Innovative gaming devices and specially designed gaming platforms such as Playstation are expected to ignite the interest of gamers across all age groups thereby assisting growth in the wireless/mobile gaming market. Despite waning popularity, traditional games market continues to hold on to a significant share of the global market.
Worldwide toys and games market is marked by fluctuations - seasonal as well as those influenced by changing fashion and trends. The volatility of the market is attributed primarily to higher exposure to the media, and rising consumer awareness levels. With children outgrowing their toys much faster than in the past, the need for new and innovative products is immense. However, high-development cost, particularly with regard to hi-tech games, is a major obstacle faced by toy manufacturers.
The report titled "Toys and Games: A Global Outlook" provides a collection of statistical findings, market briefs, and concise summaries of research findings. An easy guide to What, Why, When, How, Where, and Who of an industry, the global outlook series enumerates recent developments, mergers, acquisitions, and other strategic industry activities. The report also provides a prelude to major markets. Major markets discussed in the report include United States, Canada, Japan, Asia-Pacific and Latin America. Also included is a directory listing of addresses and contact details of 866 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Toys_And_Games_Industry_Market_Report.asp.
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