Smart Toys Market to Reach $12 Billion, Globally, by 2030 at 15.4% CAGR: IndustryARC
Research Reports
Sep 11, 2023
Smart Toys Market to Reach $12 Billion, Globally, by 2030 at 15.4% CAGR: IndustryARC
This technology is especially popular in educational and learning toys, where it can be used to provide interactive lessons and activities.
Smart Toys Market size is forecast to reach $12 billion by 2030, growing at a CAGR of 15.4% during the forecast period 2023-2030. The market is expected to witness a surge in demand due to the rise in the number of working parents who prefer toys that can keep their children engaged in meaningful activities while they are busy. Additionally, the increasing adoption of IoT and connected devices is expected to drive the growth of the market further.
Smart Toys Market Current and Future Trends
The growing popularity of STEM (Science, Technology, Engineering, and Math) education is also expected to drive the demand that can help children learn these subjects in a fun and interactive way. that teach coding, robotics, and electronics are gaining traction in the market, and the trend is expected to continue in the forecast period.
The online segment is expected to witness significant growth due to the increasing popularity of e-commerce platforms and the convenience they offer to customers. The online segment is projected to experience robust growth with a Compound Annual Growth Rate (CAGR) of 20% over the forecast period. This indicates a significant shift in consumer preferences towards online platforms for accessing and engaging with the products or services offered in this market. Factors contributing to this growth could include increasing internet penetration, ease of access, and evolving consumer behavior favoring digital channels
The offline segment, including specialty stores and toy stores, is also expected to witness growth as customers prefer to see and touch the products before making a purchase decision.
Offline Channel Dominance: The offline channel segment held the largest revenue share, accounting for over 63% of the market. This suggests that traditional brick-and-mortar outlets and physical retail locations remained the primary source of revenue for the industry during that period. Factors such as consumer habits, brand loyalty, and a preference for in-person experiences likely contributed to this dominance.
North America is expected to dominate the market due to the high penetration of devices, high disposable income, and the presence of major market players in the region. Europe is also expected to witness significant growth due to the increasing adoption of toys by parents and educators.
Browse Table of Contents of the Full report :
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Smart Toys Market Report – Scope:
- The Smart Toys Market has been segmented by interfacing devices, technology, distribution channels, and geography. The report provides insights into the market dynamics, including market drivers and challenges.
- Smart Toys Market with top country data and analysis. The report also highlights the market potential, growth rates, and alternative relevant statistics.
- The competitive landscape section features company profiles of major players such as Mattel, Inc. and Lego Group. This report is a valuable source of guidance and direction for companies and individuals interested in the market.
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The top 10 players in the Smart Toys industry are:
- Mattel Inc.
- Hasbro Inc.
- LEGO Group
- Playmobil (Brandstatter Group)
- KNEX Industries Inc.
- Kids II Inc.:
- Leapfrog Enterprises
- Dream International.
- Jakks Pacific.
- Peguino Ltd.
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Contact Us: Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-4727
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