Connected Toys Market Share, Size, Trends, Industry Analysis Report, By Application (Education, Entertainment, and Other Applications); By Age Group; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 116
- Format: PDF
- Report ID: PM3491
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global connected toys market was valued at USD 8.55 billion in 2022 and is expected to grow at a CAGR of 22.6% during the forecast period. The rapidly increasing adoption of the product among parents all over the world due to its numerous advantages such as working parents can easily monitor and their toddlers and can watch their child from anywhere with the help of built-in cameras and GPS trackers integrated into the toys, which are the primary factors fueling the global market growth at significant pace.
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In addition, the emergence of several fundamental shifts in learning technologies center on individualization, that uses several types of software to adjust each child’s specific requirement and development, that provide them access over the speed, location, and learning method, are likely to positively impact the demand and growth of the market.
For instance, in July 2022, Mattel announced that they have signed a multi-year strategic agreement with SpaceX to develop a new line of astro-inspired toys and collectable for children. The new SpaceX themed toys will be developed and marketed under the brand Matchbox.
Moreover, as artificial intelligence and many other innovated technologies like robotics have become more affordable and cost-efficient over the recent years, these technologies have been largely incorporated into wide range of advanced children’s toys, as it not only provides new interactive experience but also help in extending the lifespan of multi-functional toys, globally.
The outbreak of the COVID-19 pandemic has impacted in both ways the growth of the connected toys market. At first, the demand for connected toys has increased drastically as more children are spending time at home due to school closures and social distancing measures worldwide. On the other hand, the pandemic has resulted in huge disruptions supply chains and temporary shutdowns in manufacturing processes, which negatively influenced the market growth.
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Industry Dynamics
Growth Drivers
The rapid development of new and innovative technologies such as artificial intelligence, augmented reality, and internet of things, which has allowed the creation of innovative and interactive connected toys that provide unique and engaging experiences for children across all categories along with the increasing prevalence of toys offer a unique and interactive form of entertainment as compared to traditional toys, are among the key factors propelling the growth of the global connected toys market.
Furthermore, the extensive growth and penetration towards the two-working parent households, which fuels the need and demand for monitoring and tracking toy devices and change in the working culture in the recent years where couples are heavily adopting two-working parent households, are further anticipated to create huge growth opportunities and stimulating the overall market growth.
Report Segmentation
The market is primarily segmented based on application, age group, distribution channel, and region.
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By Application |
By Age Group |
By Distribution Channel |
By Region |
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Entertainment application segment accounted for the largest market share in 2022
The growth of the segment can be highly attributed to growing popularity and widespread adoption of toys such as tablets, interactive dolls, and programmable robots, as they can communicate with the kids through responding on their queries and replicating their actions while consisting several types of sophisticated features including facial or voice recognition. These kinds of features make the toys more attractive or interactive, that helps in keeping children engaged and entertained, which is propelling the segment growth at rapid pace.
The education segment is expected to exhibit significant growth rate over the coming years, which is mainly driven by its wide range of benefits and advantageous features such as children can easily learn numerous types of abilities which will help them throughout their lives along with this, learning about the conflict resolution, effect, cause, and problem-solving skills can also be accomplished with the help of these toys. It further helps in sharpening the child’s Intelligent Quotient (IQ), as that kind of toys emphasize memory retention, motor skill development, literacy, math, and coordination, which are further likely to boost the segment.
1-5 years segment held the significant market revenue share
The 1-5 years segment held the majority market revenue share in 2022, on account increasing adoption of these toys as they are increasingly looking for toys that can keep their children entertained and engaged while also providing educational value along with this, parents are continuously becoming more aware regarding the importance of early childhood development and are adopting toys that can help their children develop several essential skills such as creativity, problem-solving, and socialization.
The 6-8 years segment is projected to grow at substantial growth rate during the anticipated period, mainly due to the rapid advancements in technology and growing innovations in existing connected toys that offer an immersive play experience for children and allow them to interact with the toys in new and very exciting ways. Moreover, significant developments in virtual reality that shows how the learning and play options, which can be virtually endless when virtual reality and imagination combined with each other, that also fostering the segment.
Online segment is expected to witness highest growth over the projected timline
The online segment is expected to grow prominently over the anticipated period, which is highly accelerated by continuous rise in the availability of various types of online services and rapid increase in the number of internet users across the globe coupled with the easy access to fast internet facilities especially in emerging economies like India, China, and Indonesia. Large number of consumers are preferring to shop online due to numerous benefits offered by online platforms such as lower prices, wide range of products, and free delivery among others.
North America region dominated the global market in 2022
The North America region dominated the global market with maximum revenue share in 2022, and is expected to maintain its dominance throughout the anticipated period. The robust presence of major market players and growing prevalence among toy solution vendors towards partnering with several new startups, schools, and universities coupled with the rising R&D investments to develop more advanced toys, are among the primary factors fueling the market growth. Moreover, rising adoption of these toys among preschoolers and toddlers because of the strong product awareness through e-commerce platforms and digital media, is resulting in higher growth over the coming years.
The Asia Pacific region is expected be the fastest emerging region with a healthy over the projected period, owing to rapidly growing prevalence and awareness regarding the numerous benefits associated with connected toys and surge in the number of parents opting for these toys for their child’s development in both ways mentally and physically across the region.
Competitive Insight
Some of the major players operating in the global market include LEGO Group, Sony Corporation, UBTech Robotics Corporation, iRobot Corporation, Digital Dream Labs, Sphero Inc., Hasbro, Mattel, DJI, Wonder Workshop, Konami Holdings, Playmobil, K’NEX Industries, TOSY Robotics, WowWee Group, Workinman, Pillar Learning, Smart Teddy, and KEYi Technology.
Recent Developments
- In February 2023, LEGO Group introduced toys with mental & physical disabilities that include characters with the missing limbs, down’s syndrome, & anxiety. It included in the newly introduced wide range of toys having different skin tones & also people with the physical disabilities, including vitiligo.
- In May 2022, Mattel Television announced that they have partnered with HBO Max & Cartoon Network on special show of American girls special based on the book line & hit doll. The company is super excited about its new partnership with these companies to introduce their new American special girl featuring girl of the year “Corrinne Tan”.
Connected Toys Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 10.42 billion |
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Revenue forecast in 2032 |
USD 65.22 billion |
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CAGR |
22.6% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Application, By Age Group, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
The LEGO Group, Sony Corporation, UBTech Robotics Corporation, iRobot Corporation, Digital Dream Labs Inc., Sphero Inc., Hasbro, Mattel, DJI, Wonder Workshop, Konami Holdings Corporation, Playmobil, K’NEX Industries Inc., TOSY Robotics, WowWee Group, Workinman, Pillar Learning, Smart Teddy, and KEYi Technology. |
FAQ's
The connected toys market report covering key segments are application, age group, distribution channel, and region.
Connected Toys Market Size Worth $65.22 Billion By 2032.
The global connected toys market is expected to grow at a CAGR of 22.6% during the forecast period.
North America is leading the global market.
key driving factors in connected toys market are rapid development of new and innovative technologies.
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