LONDON–(COMMERCIAL THREAD)–The global robotic pet toys market is expected to grow at an impressive CAGR of nearly 65% ââfrom 2017 to 2021, according to a new market research report from Technavio.
Global Robotic Pet Toys Market Segmentation By Product And Distribution Channel The report by Technavio on the Global Robotic Pet Toys Market analyzes the business dimensions and presents a complete breakdown in terms of market segmentation by product, which includes robotic dogs and robotic cats. In 2016, the global robotic pet toys market was dominated by the dog segment and is expected to maintain this position during the forecast period. This segment is in high demand due to the number of varieties available on the market.
“Interactive puppies with multiple sensors that ensure it behaves like a living pet dog is a variation. Robotic dogs are the most popular robotic toys for pets, because dogs, in general, are pets. common companions. Therefore, people who wish to keep a dog, but cannot afford to maintain a living dog, prefer robotic companion dogs as a companion. Robotic companion dogs have several preprogrammed actions and can be controlled using a remote control â, says Narendra Nandaigari, chief analyst at Technavio for pet supplies research.
Depending on the distribution channel, the global robotic pet toys market is segmented into three main segments comprising specialty stores, department stores and online retail. In 2016, specialty stores dominated the global robotic pet toy market with a share of over 55%. These stores are home to popular brands of robotic pet toys and stock products. They sell similar types of products in all of their outlets. RobotShop is one of the most popular specialty stores for robotic pet toys.
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Robotic Pet Toys Market: Competitive Landscape for Suppliers
The global robotic pet toys market The global robotic pet toy market has few established players, making it a slightly concentrated market. Product innovation is expected to be a key market trend during the forecast period. These competitors compete against each other on many factors including price, quality, brand and variety. Hasbro, Spin Master, and WowWee Group are the major suppliers to the global robotic pet toy market.
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Other topics covered in the report:
No mess and stains around
No bathing and grooming required
Malfunction and safety issues
Presence of unorganized players and availability of counterfeit products
The advent of solar powered robotic pet toys
Introduction of an open software platform in the robotics industry
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