Smart Toys Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F.
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
The increased requirement to upgrade existing software and adopt AI security is likely to propel the smart toy market during the forecast period.. According to the World Bank in 2020, 91 percent of United Sates population are using internet which is also anticipated to have a significant impact on the demand for smart toys, leading to the expansion of the global market for them over the course of the projected period. Key players are taking advantage of the growing relevance of education-based learning to create educational toys outfitted with IoT and AI technology (AI). The widespread use of smart toys for educational purposes as well as the accessibility of many different types of smart toys for indoor and outdoor activities will further provide growth prospects for the industry.
One of the main causes boosting the demand for smart toys is the growing adoption of STEM (Science, Technology, Engineering, and Math) toys for children's skill development. Professional skills like computing and engineering are improved via smart interaction and behavioral learning in smart toys. In 2022, according to the Ministry of Information and Broadcasting, India has over 600 million smart phone users and this increased penetration of smart phones has resulted in increase in the market growth for smart toys.
The popularity of smart toys will increase as parents continue to prefer products that can aid in their kids' intellectual growth. In 2022, according to the United Nations Population Fund, there are approximately 1.9 billion children worldwide, which is one of the prominent factor for the rising demand for global smart toys. Companies selling these products, including LEGO and SmartGurlz Toy, assist children in learning how to code and in developing critical thinking skills. As a result, rising adoption rates of technologies and their benefits are expected to aid market expansion.
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 Smart toys use advanced technology to enhance the capabilities of traditional toys, including cloud computing, artificial intelligence (AI), and sensor-based technologies like the Internet of Things (IoT), which incurred high product cost. These factors hampered the market expansion throughout the projected period. As smart toys are costlier than traditional toys, price-sensitive consumers may regard them as unnecessary and overpriced luxury commodities, especially in developing countries which have a large population base such as India and China. Hence, this aspect will hinder the growth of the global smart toys market.
Market Segmentation
The Global Smart Toys Market is segmented based on technology type, age group, distribution channel, region, and competitional landscape. Based on technology type, the market is further fragmented into app-enabled mechanical toys, voice/image recognition toys, and others (screen less toys, etc.). Based on age group, the market is segmented into up to age of 5, age of 5 to age of 10, age of 10 to age of 15. Based on distribution channel, the market is segmented into online, toy shops, hypermarkets & supermarkets, and non-retail sales. The market analysis also studies the regional segmentation divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
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.
Report Scope:
In this report, the global Smart Toys market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Smart Toys Market, By Technology Type:
- App-Enabled Mechanical Toys
- Voice/Image Recognition Toys
- Others
- Smart Toys Market, By Age Group:
- Up to Age of 5
- Age of 5 to Age of 10
- Age of 10 to Age of 15
- Smart Toys Market, By Distribution Channel:
- Online
- Toy Shops
- Hypermarkets & Supermarkets
- Non-Retail Sales
- Smart Toys Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
- Turkey
- South Africa
Company Profiles: Detailed analysis of the major companies present in the global Smart Toys market.
Company Information
- Detailed analysis and profiling of additional market players (up to five).
- 1. Introduction
- 1.1. Product Overview
- 1.2. Key Highlights of the Report
- 1.3. Market Coverage
- 1.4. Market Segments Covered
- 1.5. Research Tenure Considered
- 2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
- 3. Executive Summary
- 3.1. Market Overview
- 3.2. Market Forecast
- 3.3. Key Regions
- 3.4. Key Segments
- 4. Voice of Customer Analysis (B2C Model Analysis)
- 4.1. Brand Awareness
- 4.2. Factors Influencing Purchase Decision
- 4.3. Brand Satisfaction
- 4.4. Customer Satisfaction
- 4.5. Challenges Faced Post Purchase
- 5. Global Smart Toys Market Outlook
- 5.1. Market Size & Forecast
- 5.1.1. By Value
- 5.2. Market Share & Forecast
- 5.2.1. By Technology Type Market Share Analysis (App-Enabled Toys, Voice/Image Recognition Toys, and Others (Screen Less Toys, etc.)
- 5.2.1.1. By App-Enabled Toys Market Share Analysis (Robots, Cars, Drones, Helicopter, and Others (Airplane, Ball)
- 5.2.1.2. By Voice/Image Recognition Toys Market Share Analysis (Robot Toys, Soft Toys, Dog)
- 5.2.2. By Age Group Market Share Analysis (Up to Age of 5, Age of 5 to Age of 10, Age of 10 to Age of 15)
- 5.2.3. By Distribution Channel Market Share Analysis (Online, Toy Shops, Hypermarkets & Supermarkets, and Others (Non-Retails Sales))
- 5.2.4. By Regional Market Share Analysis
- 5.2.4.1. North America Market Share Analysis
- 5.2.4.2. Europe Market Share Analysis
- 5.2.4.3. Asia -Pacific Market Share Analysis
- 5.2.4.4. South America Market Share Analysis
- 5.2.4.5. Middle East & Africa Market Share Analysis
- 5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)
- 5.3. Global Smart Toys Market Mapping & Opportunity Assessment
- 5.3.1. By Technology Type Market Mapping & Opportunity Assessment
- 5.3.2. By Age Group Market Mapping & Opportunity Assessment
- 5.3.3. By Distribution Channel Market Mapping & Opportunity Assessment
- 5.3.4. By Regional Market Mapping & Opportunity Assessment
- 6. North America Smart Toys Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Technology Type Market Share Analysis
- 6.2.2. By Age Group Market Share Analysis
- 6.2.3. By Distribution Channel Market Share Analysis
- 6.2.4. By Country Market Share Analysis
- 6.2.4.1. United States Smart Toys Market Outlook
- 6.2.4.1.1. Market Size & Forecast
- 6.2.4.1.1.1. By Value
- 6.2.4.1.2. Market Share & Forecast
- 6.2.4.1.2.1. By Technology Type Market Share Analysis
- 6.2.4.1.2.2. By Age Group Market Share Analysis
- 6.2.4.1.2.3. By Distribution Channel Market Share Analysis
- 6.2.4.2. Canada Smart Toys Market Outlook
- 6.2.4.2.1. Market Size & Forecast
- 6.2.4.2.1.1. By Value
- 6.2.4.2.2. Market Share & Forecast
- 6.2.4.2.2.1. By Technology Type Market Share Analysis
- 6.2.4.2.2.2. By Age Group Market Share Analysis
- 6.2.4.2.2.3. By Distribution Channel Market Share Analysis
- 6.2.4.3. Mexico Smart Toys Market Outlook
- 6.2.4.3.1. Market Size & Forecast
- 6.2.4.3.1.1. By Value
- 6.2.4.3.2. Market Share & Forecast
- 6.2.4.3.2.1. By Technology Type Market Share Analysis
- 6.2.4.3.2.2. By Age Group Market Share Analysis
- 6.2.4.3.2.3. By Distribution Channel Market Share Analysis
- 7. Europe Smart Toys Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1. By Technology Type Market Share Analysis
- 7.2.2. By Age Group Market Share Analysis
- 7.2.3. By Distribution Channel Market Share Analysis
- 7.2.4. By Country Market Share Analysis
- 7.2.4.1. United Kingdom Smart Toys Market Outlook
- 7.2.4.1.1. Market Size & Forecast
- 7.2.4.1.1.1. By Value
- 7.2.4.1.2. Market Share & Forecast
- 7.2.4.1.2.1. By Technology Type Market Share Analysis
- 7.2.4.1.2.2. By Age Group Market Share Analysis
- 7.2.4.1.2.3. By Distribution Channel Market Share Analysis
- 7.2.4.2. Germany Smart Toys Market Outlook
- 7.2.4.2.1. Market Size & Forecast
- 7.2.4.2.1.1. By Value
- 7.2.4.2.2. Market Share & Forecast
- 7.2.4.2.2.1. By Technology Type Market Share Analysis
- 7.2.4.2.2.2. By Age Group Market Share Analysis
- 7.2.4.2.2.3. By Distribution Channel Market Share Analysis
- 7.2.4.3. France Smart Toys Market Outlook
- 7.2.4.3.1. Market Size & Forecast
- 7.2.4.3.1.1. By Value
- 7.2.4.3.2. Market Share & Forecast
- 7.2.4.3.2.1. By Technology Type Market Share Analysis
- 7.2.4.3.2.2. By Age Group Market Share Analysis
- 7.2.4.3.2.3. By Distribution Channel Market Share Analysis
- 7.2.4.4. Spain Smart Toys Market Outlook
- 7.2.4.4.1. Market Size & Forecast
- 7.2.4.4.1.1. By Value
- 7.2.4.4.2. Market Share & Forecast
- 7.2.4.4.2.1. By Technology Type Market Share Analysis
- 7.2.4.4.2.2. By Age Group Market Share Analysis
- 7.2.4.4.2.3. By Distribution Channel Market Share Analysis
- 7.2.4.5. Italy Smart Toys Market Outlook
- 7.2.4.5.1. Market Size & Forecast
- 7.2.4.5.1.1. By Value
- 7.2.4.5.2. Market Share & Forecast
- 7.2.4.5.2.1. By Technology Type Market Share Analysis
- 7.2.4.5.2.2. By Age Group Market Share Analysis
- 7.2.4.5.2.3. By Distribution Channel Market Share Analysis
- 8. Asia-Pacific Smart Toys Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Technology Type Market Share Analysis
- 8.2.2. By Age Group Market Share Analysis
- 8.2.3. By Distribution Channel Market Share Analysis
- 8.2.4. By Country Market Share Analysis
- 8.2.4.1. China Smart Toys Market Outlook
- 8.2.4.1.1. Market Size & Forecast
- 8.2.4.1.1.1. By Value
- 8.2.4.1.2. Market Share & Forecast
- 8.2.4.1.2.1. By Technology Type Market Share Analysis
- 8.2.4.1.2.2. By Age Group Market Share Analysis
- 8.2.4.1.2.3. By Distribution Channel Market Share Analysis
- 8.2.4.2. Japan Smart Toys Market Outlook
- 8.2.4.2.1. Market Size & Forecast
- 8.2.4.2.1.1. By Value
- 8.2.4.2.2. Market Share & Forecast
- 8.2.4.2.2.1. By Technology Type Market Share Analysis
- 8.2.4.2.2.2. By Age Group Market Share Analysis
- 8.2.4.2.2.3. By Distribution Channel Market Share Analysis
- 8.2.4.3. India Smart Toys Market Outlook
- 8.2.4.3.1. Market Size & Forecast
- 8.2.4.3.1.1. By Value
- 8.2.4.3.2. Market Share & Forecast
- 8.2.4.3.2.1. By Technology Type Market Share Analysis
- 8.2.4.3.2.2. By Age Group Market Share Analysis
- 8.2.4.3.2.3. By Distribution Channel Market Share Analysis
- 8.2.4.4. Australia Smart Toys Market Outlook
- 8.2.4.4.1. Market Size & Forecast
- 8.2.4.4.1.1. By Value
- 8.2.4.4.2. Market Share & Forecast
- 8.2.4.4.2.1. By Technology Type Market Share Analysis
- 8.2.4.4.2.2. By Age Group Market Share Analysis
- 8.2.4.4.2.3. By Distribution Channel Market Share Analysis
- 8.2.4.5. South Korea Smart Toys Market Outlook
- 8.2.4.5.1. Market Size & Forecast
- 8.2.4.5.1.1. By Value
- 8.2.4.5.2. Market Share & Forecast
- 8.2.4.5.2.1. By Technology Type Market Share Analysis
- 8.2.4.5.2.2. By Age Group Market Share Analysis
- 8.2.4.5.2.3. By Distribution Channel Market Share Analysis
- 9. Middle East & Africa Smart Toys Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1. By Technology Type Market Share Analysis
- 9.2.2. By Age Group Market Share Analysis
- 9.2.3. By Distribution Channel Market Share Analysis
- 9.2.4. By Country Market Share Analysis
- 9.2.4.1. Saudi Arabia Smart Toys Market Outlook
- 9.2.4.1.1. Market Size & Forecast
- 9.2.4.1.1.1. By Value
- 9.2.4.1.2. Market Share & Forecast
- 9.2.4.1.2.1. By Technology Type Market Share Analysis
- 9.2.4.1.2.2. By Age Group Market Share Analysis
- 9.2.4.1.2.3. By Distribution Channel Market Share Analysis
- 9.2.4.2. UAE Smart Toys Market Outlook
- 9.2.4.2.1. Market Size & Forecast
- 9.2.4.2.1.1. By Value
- 9.2.4.2.2. Market Share & Forecast
- 9.2.4.2.2.1. By Technology Type Market Share Analysis
- 9.2.4.2.2.2. By Age Group Market Share Analysis
- 9.2.4.2.2.3. By Distribution Channel Market Share Analysis
- 9.2.4.3. Turkey Smart Toys Market Outlook
- 9.2.4.3.1. Market Size & Forecast
- 9.2.4.3.1.1. By Value
- 9.2.4.3.2. Market Share & Forecast
- 9.2.4.3.2.1. By Technology Type Market Share Analysis
- 9.2.4.3.2.2. By Age Group Market Share Analysis
- 9.2.4.3.2.3. By Distribution Channel Market Share Analysis
- 9.2.4.4. South Africa Smart Toys Market Outlook
- 9.2.4.4.1. Market Size & Forecast
- 9.2.4.4.1.1. By Value
- 9.2.4.4.2. Market Share & Forecast
- 9.2.4.4.2.1. By Technology Type Market Share Analysis
- 9.2.4.4.2.2. By Age Group Market Share Analysis
- 9.2.4.4.2.3. By Distribution Channel Market Share Analysis
- 10. South America Smart Toys Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1. By Technology Type Market Share Analysis
- 10.2.2. By Age Group Market Share Analysis
- 10.2.3. By Distribution Channel Market Share Analysis
- 10.2.4. By Country Market Share Analysis
- 10.2.4.1. Brazil Smart Toys Market Outlook
- 10.2.4.1.1. Market Size & Forecast
- 10.2.4.1.1.1. By Value
- 10.2.4.1.2. Market Share & Forecast
- 10.2.4.1.2.1. By Technology Type Market Share Analysis
- 10.2.4.1.2.2. By Age Group Market Share Analysis
- 10.2.4.1.2.3. By Distribution Channel Market Share Analysis
- 10.2.4.2. Argentina Smart Toys Market Outlook
- 10.2.4.2.1. Market Size & Forecast
- 10.2.4.2.1.1. By Value
- 10.2.4.2.2. Market Share & Forecast
- 10.2.4.2.2.1. By Technology Type Market Share Analysis
- 10.2.4.2.2.2. By Age Group Market Share Analysis
- 10.2.4.2.2.3. By Distribution Channel Market Share Analysis
- 10.2.4.3. Colombia Smart Toys Market Outlook
- 10.2.4.3.1. Market Size & Forecast
- 10.2.4.3.1.1. By Value
- 10.2.4.3.2. Market Share & Forecast
- 10.2.4.3.2.1. By Technology Type Market Share Analysis
- 10.2.4.3.2.2. By Age Group Market Share Analysis
- 10.2.4.3.2.3. By Distribution Channel Market Share Analysis
- 11. Market Dynamics
- 11.1. Drivers
- 11.1.1. Rising adoption of technology
- 11.1.2. New product launches
- 11.1.3. Growing demand for educational toys
- 11.2. Challenges
- 11.2.1. High prices
- 11.2.2. Availability of substitutes
- 12. Impact of COVID-19 on Global Smart Toys Market
- 13. Market Trends & Developments
- 13.1. Rising number of working parents
- 13.2. Growing awareness of benefits of smart toys
- 13.3. Changing consumer buying behaviours
- 13.4. Increasing investment in smart toys Industry
- 13.5. Social media influence
- 14. Porter’s Five Forces Model
- 14.1. Competitive Rivalry
- 14.2. Bargaining Power of Buyer
- 14.3. Bargaining Power of Supplier
- 14.4. Threat of New Entrants
- 14.5. Threat of Substitutes
- 15. SWOT Analysis
- 15.1. Strength
- 15.2. Weakness
- 15.3. Opportunities
- 15.4. Threat
- 16. Competitive Landscape
- 16.1. Company Profiles
- 16.1.1. The LEGO Group
- 16.1.1.1. Company Details
- 16.1.1.2. Products & Services
- 16.1.1.3. Financial (As per availability)
- 16.1.1.4. Key Market Focus & Geographical Presence
- 16.1.1.5. Recent Development
- 16.1.1.6. Key Management Personnel
- 16.1.2. Mattel, Inc.,
- 16.1.2.1. Company Details
- 16.1.2.2. Products & Services
- 16.1.2.3. Financial (As per availability)
- 16.1.2.4. Key Market Focus & Geographical Presence
- 16.1.2.5. Recent Development
- 16.1.2.6. Key Management Personnel
- 16.1.3. Leapfrog Enterprises, Inc.
- 16.1.3.1. Company Details
- 16.1.3.2. Products & Services
- 16.1.3.3. Financial (As per availability)
- 16.1.3.4. Key Market Focus & Geographical Presence
- 16.1.3.5. Recent Development
- 16.1.3.6. Key Management Personnel
- 16.1.4. Pillar Learning, LLC.,
- 16.1.4.1. Company Details
- 16.1.4.2. Products & Services
- 16.1.4.3. Financial (As per availability)
- 16.1.4.4. Key Market Focus & Geographical Presence
- 16.1.4.5. Recent Development
- 16.1.4.6. Key Management Personnel
- 16.1.5. Seebo Interactive LTD
- 16.1.5.1. Company Details
- 16.1.5.2. Products & Services
- 16.1.5.3. Financial (As per availability)
- 16.1.5.4. Key Market Focus & Geographical Presence
- 16.1.5.5. Recent Development
- 16.1.5.6. Key Management Personnel
- 16.1.6. Tomy Company, Ltd.
- 16.1.6.1. Company Details
- 16.1.6.2. Products & Services
- 16.1.6.3. Financial (As per availability)
- 16.1.6.4. Key Market Focus & Geographical Presence
- 16.1.6.5. Recent Development
- 16.1.6.6. Key Management Personnel
- 16.1.7. fischertechnik GmbH
- 16.1.7.1. Company Details
- 16.1.7.2. Products & Services
- 16.1.7.3. Financial (As per availability)
- 16.1.7.4. Key Market Focus & Geographical Presence
- 16.1.7.5. Recent Development
- 16.1.7.6. Key Management Personnel
- 16.1.8. ROYBI, Inc.,
- 16.1.8.1. Company Details
- 16.1.8.2. Products & Services
- 16.1.8.3. Financial (As per availability)
- 16.1.8.4. Key Market Focus & Geographical Presence
- 16.1.8.5. Recent Development
- 16.1.8.6. Key Management Personnel
- 16.1.9. Sega Toys Co. Ltd.,
- 16.1.9.1. Company Details
- 16.1.9.2. Products & Services
- 16.1.9.3. Financial (As per availability)
- 16.1.9.4. Key Market Focus & Geographical Presence
- 16.1.9.5. Recent Development
- 16.1.9.6. Key Management Personnel
- 16.1.10. Moravia Consulting spol. s r.o. (Primo Toys),
- 16.1.10.1. Company Details
- 16.1.10.2. Products & Services
- 16.1.10.3. Financial (As per availability)
- 16.1.10.4. Key Market Focus & Geographical Presence
- 16.1.10.5. Recent Development
- 16.1.10.6. Key Management Personnel
- 17. Strategic Recommendations/Action Plan
- 17.1. Key Focus Areas
- 17.2. Target Technology Type
- 17.3. Target Distribution Channel
- 18. About Us & Disclaimer
- (Note: The companies list can be customized based on the client requirements.)
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