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Global STEM Toys Market Report 2021, by Age Group, Category and Distribution ChannelDUBLIN, Aug. 31, 2021 /PRNewswire/ -- The "Global STEM Toys Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.  The STEM toys market is anticipated to grow at a rapid CAGR of 7.1% during the forecast period. The last decade has been witnessed as a significant period for the growth in toys market, which was highly driven by education, entertainment, interactivity, development and engagement factors that served as fundamental pillars for the surge in market sales. Over the period, the toy industry has proven to be remarkably resilient, where a range of threats and opportunities are feasible for the market players in the coming years. Furthermore, with a wide range of suppliers and distributors, the flexibility of the consumers for purchasing has elevated where they can choose from reputed global vendors or a booming startup in their local region. Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is projected to be the fastest growing market for STEM toys and second largest STEM toys market, closely following North America. The largest selling categories in the toys market in the Asia Pacific were construction blocks, numerical sets, preschool science kits, whereas coding and AI based toys were more concentrated in China, Japan, and South Korea. The growth is expected to be concentrated in countries such as India, Malaysia, Singapore, and Thailand, where the STEM based professions are rising. Lastly, the key markets for vendors are North America, Asia Pacific, and Europe. However, in the coming years, the markets in Latin America and the Middle East and span >Africa are also expected to witness considerable growth. Smaller vendors tend to reduce the prices of their toys and games, forcing established vendors to slash their retail prices or suffer losses. Also, the expansion of competition across regions further leads to shorter life cycles of products in the market. The emergence of more and more vendors has led to the frequent introduction of new products. This further results in users not devoting considerable time for a particular game and moving onto another one only because there are lots to pick and play from. Consumer interests are changing rapidly, making it difficult to design and develop products that will be popular with children and families or to maintain the popularity of successful brands and products. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. Market Segmentation
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