In a global survey, it is noted that the use of innovative technologies is leading to immense growth in the adult toy industry. As per the data available on this subject, the global adult toy market is expected to grow by 10 billion during the forecast period, 2019-23. And the increasing popularity of various adult toys is the use of innovative technologies in manufacturing these devices.
Over the last decade, the technological revolution has changed different sectors and it has become possible for every person to enjoy all the things in a comfortable manner. For the immense growth in the adult toy manufacturing sector, the use of advanced technology has played a crucial role. About 8% CAGR growth rate is expected in this sector and it will take the overall size of this sector to $53 billion by 2026.
Many adult toy manufacturers have admitted that the use of innovative technologies is immensely contributed to the growth of the global adult toy industry. It is found that people are demanding adult toys that are innovative to use and it has made it possible for every adult toy manufacturer to introduce such products to meet the needs of people.
Out of all the segments in this sector, the female sex toys segment is enjoying the fastest growth and about 65% of vibrators are bought by single women. It is playing a crucial role in the growth in this sector and the growth rate has increased manifold times over the last few years. The use of a remote control vibrator is gaining a lot of popularity across the world and a large population of women is using it.
In order to expand its customer base, every adult toy manufacturer is focusing on making available highly affordable and innovative sex toys to its target audience. Due to the high affordability of ion batteries, it has become possible for adult toy companies to make available USB rechargeable adult toys for their target audience.
Even many available electronic toys are now fully submersible and it has become possible due to innovations in silicone casing. The availability of smart and remote-controlled vibrators is helping people enjoy their time well in an excellent manner. All the smart adult toys available in today’s time have built-in temperature sensors that have simply improved the performance of every adult device.
Different adult toy manufacturers gather every year at different trade shows and other important conferences to discuss various ideas. In addition to this, they take inputs from customers about their products to find loopholes in their products. This simply gives them an opportunity to improve their products to build a strong relationship with their clients.
Apart from this, adult toy manufacturers make use of digital marketing techniques in order to spread the word about their products among their target audience. Especially, the youngsters who love to use innovative technology products are making high use of smart adult toy products in order to have a pleasurable time. Moreover, the rising awareness about the health benefits of using adult toys is also a contributing factor that is improving the growth in this sector.