Smart Toys Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F. Segmented By Technology Type (App-Enabled Toys, Voice/Image Recognition Toys, and Other (Screen Less Toys, etc.)), By Age Group (Up to Age of 5, Age of 5 to Age of 10, Age of 10 to Age of 15), By Distribution Channel (Online, Toy Shops, Hypermarkets & Supermarkets, Non-Retail Sales), By Region, Competit
Published on: 2024-11-06 | No of Pages : 320 | Industry : Consumer Goods and Retail
Publisher : MIR | Format : PDF&Excel
Smart Toys Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F. Segmented By Technology Type (App-Enabled Toys, Voice/Image Recognition Toys, and Other (Screen Less Toys, etc.)), By Age Group (Up to Age of 5, Age of 5 to Age of 10, Age of 10 to Age of 15), By Distribution Channel (Online, Toy Shops, Hypermarkets & Supermarkets, Non-Retail Sales), By Region, Competit
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD22.01 Billion |
| CAGR (2023-2028) | 15.90% |
| Fastest Growing Segment | Online |
| Largest Market | Europe |
Global Smart Toys Market is expected to be driven by increasing technological advancements to create innovative and interactive toys, and as well as changes in lifestyle. Additionally, the educational opportunities provided by smart toys are numerous and extremely beneficial for children, which is an aspect expected to fuel market growth during the forecast period.
Smart toys, also known as connected toys, are connected to the internet or cloud, and are beneficial for kids to play and simultaneously learn with. These modern toys with artificial intelligence and microprocessor are anticipated to attract the consumer and enhance the global smart toys marker during the anticipated period.
Other factors driving the market demand for smart toys include rising working-class parents with the issue of limited time, which has increased desire for smart toys with AI support to engage children in these interactions and for educational purposes. As a result, this trend has encouraged manufacturers to release creative products to draw in customers.
Rising Adoption of Technologies in Smart Toys Among Consumer to Drive the Industry
According to the World Bank in 2020, 91 percent of United Sates population
In 2022, according to the Ministry of Information and Broadcasting, India has over 600 million smart phone users
In 2022, according to the United Nations Population Fund, there are approximately 1.9 billion children worldwide
New Product Launches to Fuel the Smart Toys Market
The introduction of novel and distinctive features into new products, such as remote and app controllers, voice controllers, sensor technology, etc., are seen as key factors. Each interactive toy including connected toys, interactive toys, all contribute to the expansion of the market for smart toys. Industry players are concentrating on creating new items and expanding their current product lines in order to meet the growing demand. For instance, in 2022, LeapFrog Enterprises, Inc., an innovative educational toys company for Infant and Preschool children, launched its iconic Scout and Violet plush pals and new innovative touch-sensitive technology toys, which makes learning interesting and innovative to the kids. These technical advancements will accelerate the market's growth for smart toys.
High Price of the Product is Restraining the Market Expansion
Market Segmentation
The Global Smart Toys Market is segmented based on technology
Company Profiles
The LEGO Group, Mattel, Inc., Leapfrog Enterprises, Inc., Pillar Learning, LLC., Seebo Interactive LTD, Tomy Company, Ltd., fischertechnik GmbH, ROYBI, Inc., Sega Toys Co. Ltd., Moravia Consulting spol. s r.o. (Primo Toys), are among the major market players in the global platform that lead the market growth of the global smart toys market.