Global Connected Toys Market Size study & Forecast, by Interface (App-based connected drones, Console connected toys, Smartphone connected toys, Tablet connected toys), by Age (2-5 years, 6-8 years, 8-12 years, Teenagers, Adults), by Distribution Channel

Global Connected Toys Market Size study & Forecast, by Interface (App-based connected drones, Console connected toys, Smartphone connected toys, Tablet connected toys), by Age (2-5 years, 6-8 years, 8-12 years, Teenagers, Adults), by Distribution Channel (Retailers, Online, Specialty stores) and Regional Analysis, 2022-2029

Global Connected Toys Market is valued at approximately USD 6.62 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 20.9% over the forecast period 2022-2029. Connected toys are internet-enabled devices that feature Wi-Fi, Bluetooth, or other internet-connected properties that offer personalized play experiences among users via embedded software which comprises speech recognition software. These toys also assist parents to monitor the whereabouts of their kids. The market demand is majorly driven by the factors such as rising inclination towards monitoring and tracking of toy devices, growing demand for interactive and self-engaging toys, and easy availability of connected platforms.

The rising proliferation of IoT-connected devices among two working-parent households is stipulating the market demand. As per the Statista report, in 2019, around 8.6 billion Internet of Things (IoT) connected devices were recorded, which is estimated to reach around 19.1 billion devices by 2025. Accordingly, the shift in working culture in heterosexual couples is rapidly adopting two-working-parent households to decrease the considerable time spent between parents and children, which, is augmenting the market growth across the globe. In addition, the growing awareness of the internet and technology, as well as rising investment in R&D activities are creating lucrative opportunities in the foreseen years. However, rising privacy concerns regarding the usage of connected toys and several risks associated with constant connectivity stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Connected Toys Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising expenditure on technological developments, coupled with the surging demand for connected toys in the education sector. Whereas, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as the increasing adoption of handheld devices among kids, a broad consumer base, and the rising presence of the leading market players are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Mattel
Hasbro
LEGO
Sony
VTech
UBTECH
DJI
iRobot
Sphero
Digital Dream Labs

Recent Developments in the Market:
 In August 2022, LEGO Group entered into a collaborative agreement with artist Hebru Brantley with the objective of installing Fly Away Isles and presenting an innovative, playful experience for children.
 In July 2022, Mattel declares the company’s multi-year agreement with SpaceX, which aims on developing toys and collectables for children.
 In April 2022, iRobot announced the introduction of its Create 3- an affordable, next-generation, all-in-one mobile robot development platform. The innovation allows users to communicate with products with Wi-Fi and Ethernet by using USB. Also, it supports learning with iRobot Education’s SDK, python 3, and iRobot coding app.

Global Connected Toys Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Interface, Age, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Interface:
App-based connected drones
Console connected toys
Smartphone connected toys
Tablet connected toys

By Age:
2-5 years
6-8 years
8-12 years
Teenagers
Adults

By Distribution Channel:
Retailers
Online
Specialty stores

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World

Companies Mentioned

Mattel
Hasbro
LEGO
Sony
VTech
UBTECH
DJI
iRobot
Sphero
Digital Dream Labs

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