Global Connected Toys Market 2023-2030

Global Connected Toys Market 2023-2030

Global Connected Toys Market Size, Share & Trends Analysis Report by Interacting Device (App-Connected Drones, Smartphone-Connected Toys, Console-Connected Toys, and Tablet-Connected Toys), by Technology (Wi-Fi, Bluetooth, and RFID or NFC), by Age Group (2-5 years, 6-8 years, 8-12 years, and Teenagers), by Distribution Channels (Online Stores, Offline Stores, Specialty Stores, and Others) Forecast Period (2023-2030)

The global connected toys market is anticipated to grow at a CAGR of 8.7% during the forecast period (2023-2030). Connected toys that build on expert knowledge platforms and other content structures could create more robust, educational, and evolving systems of interaction with children, forging stronger educational and developmental outcomes. The growing adoption of connected toys coupled with the improving communication network is the key factor supporting the growth of the market globally. For instance, in January 2023, Namasthe World launched a range of connected toys including physical toys, digital content, edutainment-centric games, and casual games for kids. The newly formed Hyderabad-based children’s toy and gaming brand. It will focus on creating interesting and international standard IPs on different platforms of entertainment.

Segmental Outlook

The global connected toys market is segmented on the transaction mode, advertisement format, and industry verticals. Based on the interacting device, the market is sub-segmented into app-connected drones, smartphone-connected toys, console-connected toys, and tablet-connected toys. Based on the technology, the market is sub-segmented into Wi-Fi, Bluetooth, and RFID or NFC. On the basis of age group, the market is sub-segmented into 2-5 years, 6-8 years, 8-12 years, and teenagers. Further, on the basis of distribution channels, the market is sub-segmented into online stores, offline stores, specialty stores, and others. Among the interacting devices, the smartphone-connected toys sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of smartphone connectivity that provides a more personalized experience through embedded software such as web search functions and speech recognition.

The Wi-Fi Sub-Segment is Anticipated to Hold a Considerable Share of the Global Connected Toys Market

Among the technology, the Wi-Fi sub-segment is expected to hold a considerable share of the global connected toys market. The segmental growth is attributed to the growing influence of Wi-Fi-connected toys that allow parents and families to more closely monitor and involve themselves in children’s development, transmitting information that would allow parents to better understand the activities their children are engaged in and build connections from play to parent-child discussions. use machine learning to collect data and track content modules that children consume, their ability to talk about certain topics, and overall engagement level and listening skills, factor into the toy’s evolution over time to fit the child’s needs and skill levels.

Regional Outlook

The global connected toys market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the adoption of initiatives for connected toys such as artificial learning, machine learning, and voice and speech learning. The Key market players include Mattel Inc., Hasbro Inc., Sphero Inc., and others.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Connected Toys Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to technological advancements, increasing disposable income, and the rising popularity of smart devices, countries within this region have become fertile ground for the adoption of connected toys. These toys, that often integrate augmented reality, virtual reality, and internet connectivity, offer interactive and educational experiences that captivate both children and parents alike. China and Japan stand out as prominent players in the Asia-Pacific connected toys market. China's massive population, rapid urbanization, and enthusiasm for tech-driven products have turned it into a major market for these toys. Meanwhile, Japan's technological prowess and culture of innovation have led to the development of innovative connected toys that cater to a tech-savvy consumer base.

Hence, with key players continually innovating and introducing novel concepts, the Asia-Pacific connected toys market is poised to expand further, reshaping the way children play and learn. The region continues to embrace digitalization, and the demand for connected toys that blend entertainment with education is anticipated to surge, offering substantial growth opportunities for businesses while enhancing the learning experiences of young minds.

Market Players Outlook

The major companies serving the connected toys market include Mattel Inc., Sony Group Corp., The LEGO Group, Hasbro Inc., Playmobil, Mattel Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, Mattel, Inc. announced that Mattel Creations, the company’s collaboration and direct-to-consumer platform, is further evolving its toys as an art collection to include a Non-Fungible Token (“NFT”) series from the super-charged wheels brand.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global connected toys market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.