The Business Research Company’s report on the Smart Toys Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the smart toys market in recent years?
The increase in awareness of technology-led education in the smart toys market is expected to propel the growth of the smart toys market in the forecast period. Technology-led education refers to the integration of instructional technology into the learning environment of schools. This type of technology education will make learning fun and help children to learn more. Education value associated with such toys has increased participants to introduce more e-learning technologies with more advanced voice recognition features and hardware sensors that make the product more intelligent, interactive, and dynamic. E-learning is one of the biggest revolutions in the smart toys Industry. For instance, 2023, according to the United Nations Educational, Scientific, and Cultural Organization, a France-based specialized agency, in 2022, approximately 50% of lower secondary schools worldwide had internet access for educational purposes. Thus, due to an increase in technology-led education, there will be growth in the smart toys market.
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What is the projected market size of the smart toys industry, and how is it expected to grow?
The smart sports equipment market size has grown strongly in recent years. It will grow from $4.02 billion in 2024 to $4.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to shifting consumer preferences towards personalized experiences, expansion of e-commerce companies, proliferation of mobile devices, increased popularity of digital entertainment and gaming, consumer awareness and acceptance.
The smart sports equipment market size is expected to see rapid growth in the next few years. It will grow to $6.29 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to rise in edutainment, increasing popularity of connected toys, parental empowerment, increasing demand for app-enabled mechanical toys, rising demand for interactive and engaging toys. Major trends in the forecast period include augmented reality (AR) and virtual reality (VR), voice and gesture control, interconnected play, ai-powered playmates, expansion of 3D printing technology and proximity sensors in toys.
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Who are the key players driving competition in the smart toys market?
Major companies operating in the smart toys market include The Lego Group, Mattel Inc., Hasbro Inc., JAKKS Pacific Inc., WowWee Group Limited, Anki Inc., Sphero Inc., LittleBits Electronics Inc., UBTECH Robotics Inc., Ozobot Inc., Miko (Emotix), Playmobil, Fisher-Price Inc., LeapFrog Enterprises Inc., Tomy Company Ltd., DJI Technology Co. Ltd., Wonder Workshop Inc., Innovation First International Inc., Yuneec International Co. Ltd., Spin Master Corp., Botzee India Private Limited, Siam Mandalay Co. Ltd., Wondermento Ltd., Bluebee Pals, CogniToys, Tinkerbots Games Ltd., Modular Robotics, Pai Technology Ltd., Makeblock
What key trends are expected to drive the smart space market during the forecast period?
Major companies operating in the smart toys market are developing technologically advanced products, such as artificial intelligence companions, to meet larger customer bases, more sales, and increase revenue. An AI companion, short for artificial intelligence companion, refers to a virtual or digital entity that uses artificial intelligence to engage with and assist users in various tasks, activities, or interactions. For instance, in April 2023, Toymint, a Canada-based provider of toys and children’s products, launched TeddyGPT. The innovative AI teddy chat offers an interactive, engaging, and educational experience designed for children and families. TeddyGPT represents a unique fusion of a physical toy’s charm and the latest in artificial intelligence capabilities. This exceptional toy combines the enchanting appeal of a traditional teddy bear with advanced AI features, delivering an unparalleled interactive experience that encourages communication, companionship, and learning. Developed by OpenAI, TeddyGPT empowers this toy companion to comprehend and respond to a wide array of subjects, questions, and prompts, resulting in captivating conversations that stimulate children’s curiosity and creativity, surpassing the capabilities of ordinary toys.
Which key geographies are driving the growth of the smart toys market?
North America was the largest region in the smart toys market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart toys market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the smart toys market?
The smart toys market covered in this report is segmented –
1) By Technology?: Wi-Fi, Bluetooth?, Other Technologies (NFC And RFID)
2) By Distribution Channel: Online market, Specialty Stores, Toy Shops
3) By Type: Robots, Interactive Games, Educational Robots
4) By Interfacing Device: Smartphone-Connected Toys, Tablet-Connected Toys, Console-Connected Toys, App-Connected Drones
5) By End User: Toddlers, Pre-Schoolers, School-Going, Stripling
Subsegments:
1) By Wi-Fi: Wi-Fi-Enabled Interactive Toys, Smart Learning Toys with Cloud Connectivity, Remote-Controlled Wi-Fi Toys
2) By Bluetooth: Bluetooth-Enabled Educational Toys, Smart Plush Toys with Bluetooth Connectivity, Interactive Games with Bluetooth Features
3) By Other Technologies: NFC-Enabled Toys for Instant Interaction, RFID-Tagged Toys for Tracking and Identification, Smart Cards and Accessories with NFC/RFID Features
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How is the smart toys market defined?
Smart toys refer to intelligent and technologically advanced toys that have the ability to behave in accordance with predetermined patterns and can alter their behaviour in response to outside stimuli and are designed to configure and connect to the existing Internet, using a wireless network such as Wi-Fi or Bluetooth technology.
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