Smart Toys Market: Educational and Skill Development to Fuel the Market Growth over the Forecast Period

The Global Smart Toys Market size was valued at USD 12.94 Bn in 2023 and is expected to reach USD 37.47 Bn by 2030, at a CAGR of 16.4 %.

Global Smart Toys Market Overview

A smart toy refers to a digitally augmented plaything endowed with autonomous intelligence. Typically, these toys exhibit the capacity to acquire knowledge, exhibit adaptive behaviours, and modify their responses in reaction to external stimuli. In essence, they adjust their reactions to a player's interactions based on predefined programming. Smart toys commonly leverage the capabilities of cloud computing, artificial intelligence (AI), and sensor-driven technologies, including the Internet of Things (IoT), to augment and amplify the features of conventional toys. The graphical representation and structural exclusive information showed the dominating region of the Global Smart Toys Market. The detailed and constructive formation of key drivers, opportunities, and unique segmentation outputs structural and optimistic data. Validated using primary as well as secondary research methodology and scope of the Global Smart Toys Market.Smart Toys MarketTo know about the Research Methodology :- Request Free Sample Report

Smart Toys Market Dynamics

Educational and Skill Development in the Smart Toys Industry also Entertainment and Engagement are the growth drivers in the Smart Toys Market The rapid progress of technology, particularly in areas like artificial intelligence (AI), machine learning, and the Internet of Things (IoT), has paved the way for the emergence of smarter and more interactive toys within the smart toys market. These technological innovations empower various segments, including smart AI toys, interactive toy gadgets, robotics toys, and augmented reality toys, to offer distinct features that enhance user experiences and stimulate demand in the smart toys industry. Smart toys, spanning diverse categories such as robotics toys and interactive gadgets, have garnered recognition as effective educational tools. These toys aid children in cultivating skills like problem-solving, creativity, and critical thinking, thus contributing significantly to their learning and development. This trend is particularly pronounced within the smart AI toys market and various other segments. Safety features are integral to the smart toys industry, encompassing elements such as parental controls and child-monitoring capabilities. This unwavering emphasis on safety is fundamental in the development of smart toys, spanning from remote-controlled toys to augmented reality toys, providing assurance to parents regarding their children's well-being during playtime. Smart toys, including interactive gadgets and robotics toys, deliver immersive and captivating play experiences that elevate the entertainment value for users of all age groups. Features such as interactive storytelling, augmented reality experiences, and gamification are essential components of these smart toys, rendering them exceptionally appealing and engaging throughout the smart toys market. Many smart toys, encompassing categories ranging from remote-controlled toys to smart AI toys, offer customization options, enabling users to tailor their experiences to align with their unique preferences. This prevailing theme of personalization within the smart toys industry caters to individual tastes and requirements. The seamless integration of smart toys, including augmented reality toys, into broader connected ecosystems such as smart homes, fosters fluid interactions among various devices. This interconnectedness enhances the overall user experience, offering convenience and extending to remote-controlled toys and other segments of the market. The smart toys market is currently witnessing rapid expansion as numerous companies channel investments into research and development, unveiling innovative products across various segments, including interactive gadgets and smart AI toys. This diversification provides consumers with a more extensive array of choices, stimulating the adoption of smart toys. The smart toys industry is increasingly placing a stronger focus on sustainability and the use of eco-friendly materials in toy manufacturing. This environmentally conscious approach holds particular significance in the development of smart toys, resonating with consumers who are environmentally aware and concerned about sustainability issues. A subset of smart toys is dedicated to promoting physical activity and fostering healthier lifestyles, particularly among children. Features such as fitness tracking and interactive gameplay align with the broader trend of health-conscious living within the smart AI toys market and smart toys market.

Smart Toys Market Segment Analysis

Product: The smart toys market comprises various product categories, each catering to distinct consumer needs. The smart AI toys market is a prominent sub-segment within this sector, featuring AI-powered smart toys that encompass an extensive range of offerings. These include interactive games, robots, and educational robots. The market also boasts a category of interactive toy gadgets, providing a diverse array of interactive games and educational features to engage and educate users. Furthermore, the realm of smart toys encompasses robotics toys, which serve the dual purpose of stimulating learning and creativity while providing entertainment value. Another exciting sub-segment is augmented reality toys, which leverage augmented reality technology to offer immersive and interactive gaming and educational experiences. Lastly, the market encompasses a category of remote-controlled toys, including a variety of products such as remote-controlled vehicles and devices designed for both entertainment and educational purposes. Educational robots within this segment are gaining popularity, especially in educational settings. They provide a unique platform for hands-on learning, encouraging skill development, problem-solving, and creativity in children. As the demand for quality educational tools increases, smart AI toys are positioned to meet these needs effectively. The combination of AI with augmented reality (AR) technology has created a compelling sub-segment of augmented reality toys. These toys provide interactive, educational, and gaming experiences that are highly appealing to consumers seeking innovative and immersive play. Application: The smart toys market caters to various applications, ensuring versatility and utility. Smart toys dedicated to education are making significant strides, particularly in classrooms and home-schooling environments. Educational robots and augmented reality toys, among others, serve as effective teaching tools, fostering skill development and knowledge acquisition. In contrast, a substantial portion of the market is devoted to entertainment, targeting the recreational needs of both children and adults. Interactive toy gadgets, robotics toys, and remote-controlled toys primarily cater to this segment, offering engaging and fun experiences. Additionally, there's an intriguing other category within the market. This miscellaneous segment comprises smart toys that focus on unique applications beyond education and entertainment, such as those designed to promote health and fitness. Smart toys dedicated to education have witnessed remarkable expansion, particularly in educational settings like classrooms and home-schooling environments. Educational robots and augmented reality toys have emerged as potent teaching tools, offering interactive and engaging learning experiences. These innovative products foster skill development and knowledge acquisition, making learning more enjoyable and effective for students of all ages. The growing demand for technology-enhanced education has driven the adoption of smart educational toys in both formal and informal learning environments.Smart Toys Market1Interfacing Device: Smart toys offer diverse interfacing options, allowing users to engage with them through various devices. Many smart toys are tailored for smartphones, ensuring seamless integration with these ubiquitous gadgets. This connectivity enhances control and user experiences, making it convenient for consumers. Tablets represent another commonly used interface in the smart toys market. Tablets provide an interactive platform for playing and learning with these innovative toys. Some smart toys cater to older children and adults and interface with gaming pcs, providing a higher level of engagement and sophistication. Additionally, laptops are used as an interface for controlling smart toys, facilitating diverse gaming and educational experiences. The widespread use of smartphones as interfacing devices for smart toys has been a significant driver of growth in this segment. Smart toys designed to seamlessly integrate with smartphones provide users with convenient control and enhanced user experiences. This compatibility aligns with the prevalent use of smartphones as central communication and control hubs, making smart toys more accessible and appealing. Tablets serve as another common and effective interface for smart toys, providing an interactive platform for playing and learning. Their larger screens and touch interfaces enhance the user experience, making them ideal devices for engaging with smart toys, particularly for educational and entertainment purposes.

Smart Toys Market Regional Analysis

In 2020, North America asserted its dominance in the smart toys market, securing a substantial revenue share exceeding 40.0%. This remarkable market share can be attributed to the increasing adoption of smart home devices within the region. The United States, in particular, has been a hotspot for the consumption of in-home smart products. A study conducted by Acquity Group revealed that approximately 30% of U.S. consumers now possess smart IoT devices, signalling a growing enthusiasm for smart technology. The robust growth of smart toys in North America can be attributed to several key factors. Firstly, the proliferation of smart home devices has catalysed the demand for complementary smart AI toys, many of which seamlessly integrate with existing smart home ecosystems, enhancing the play experience for children. Secondly, the consumer base in North America has shown a pronounced inclination toward educational and interactive learning toys. This preference aligns with the broader trend of leveraging technology for educational purposes, thereby propelling the demand for smart toys offering both entertainment and educational opportunities. The Asia Pacific region is positioned to experience the most rapid growth within the smart AI toys market during the forecast period. This upswing can be attributed to several factors, including the burgeoning middle-class population, an increasing preference for educational learning toys, and strategic initiatives by smart toys industry leaders within the region. One notable contributor to the growth of the smart AI toys market in APAC is the Lego Group, a renowned toy manufacturer that has firmly established its presence in the region. This is primarily owing to its extensive distribution network and its effective customer engagement strategies. A prime example of this commitment is the company's expansion efforts in Singapore. The LEGO Group has invested in the development of the digital industry in Singapore, having partnered with Singapore's Economic Development Board. This collaboration aims to expand the company's reach in East Asia, capitalizing on the burgeoning demand for smart AI toys in the region. The expanding middle-class population in APAC wields substantial purchasing power and is increasingly recognizing the value of educational and interactive smart toys for their children. This demographic shift, combined with the efforts of industry leaders and a growing awareness of the benefits of smart AI toys, provides a conducive environment for rapid Smart toys market growth in the Asia Pacific region.

Smart Toys Competitive Landscape

Digital Dream Labs Acquires Anki Robotics & Artificial Intelligence Assets. Plans To Re-launch Product Line, Deploy New Features, and Develop New Robots in the smart toys market. The opportunity to acquire exclusive ownership of Cozmo, Vector, and Overdrive aligns seamlessly with Digital Dream Labs' mission and purpose-driven culture," states Matt Goren, Chief Marketing Officer at Digital Dream Labs. The company has ambitious plans to transform the current landscape of Robotics and Artificial Intelligence by empowering its customers. Digital Dream Labs intends to relaunch Cozmo, Vector, and Overdrive with a host of updates and new features in the pipeline. The company's narrative is set to revolve around transparency and realism regarding the capabilities of its products at present. Equally important is the emphasis on revealing the exciting future prospects in this dynamic decade of the 2020s. Digital Dream Labs is committed to giving voice to its customers and ushering in a new era in the world of Robotics and Artificial Intelligence. In a significant development within the realm of STEM-based entertainment toys, Sphero and littleBits are merging into a unified entity. Sphero made this announcement, revealing its intention to acquire the New York-based electronic building block company.Smart Toys Market2These two companies, both established in 2010 and 2011, respectively, initially pursued distinct paths but ultimately found themselves operating within similar domains. Sphero, formerly known as Orbotix, introduced the world to a smartphone-controlled 3D-printed ball that made its debut at CES in 2011. Concurrently, in that very year, Ayah Bdeir's electronics kit side project evolved into a significant business venture under the banner of littleBits. Notably, both Sphero and littleBits share the distinction of being alumni of Disney's accelerator program. Sphero capitalized on this connection with the successful creation of the remote control BB-8 toy, coinciding with the release of Star Wars: The Force Awakens. However, despite initial success with licensed products such as R2-D2, Lightning McQueen, and talking Spider-Man toys, the Colorado-based company made the strategic decision to terminate its Disney partnership early last year. This move led to a workforce reduction and an explicit commitment to shifting its focus entirely towards the development of educational toys in the smart toys industry.

Smart Toys Market Scope: Inquiry Before Buying

Smart Toys Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 12.94 Bn.
Forecast Period 2024 to 2030 CAGR: 16.4% Market Size in 2030: US $ 37.47 Bn.
Segments Covered: by Product Interactive Games Robots Educational Robots
by Application Education Entertainment Other
by Interfacing Device Smartphones Tablets Gaming PC Laptop
by Technology Wi-Fi Bluetooth Other
by Distribution Channel Online Offline

Smart Toys Market, by Regions

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Key Players of the Smart Toys Market

1. Pillar Learning 2. Sega Toys Co. Ltd. 3. LeapFrog Enterprises Inc. 4. Mattel Inc. 5. Hasbro Inc. 6. Lego System A/S 7. Robofi LLC 8. Tomy Co. Ltd. 9. Doctor's Associates Inc. 10. Digital Dream Labs 11. Sphero 12. Wonder Workshop 13. TOSY Robotics Frequently Asked Questions 1. What is the current size of the smart toys market? Ans: The global smart toys market size reached $ 12.94 billion in 2023. 2. What are the key drivers of the smart toys market Ans: Increasing demand for interactive and educational toys, technological advancements, and growing awareness of STEM learning. 3. Which region dominates the smart toys market? Ans: North America held the largest share in 2023, accounting for over 40% of the market. 4. What types of smart toys are popular? Ans: Smart AI toys, interactive gadgets, robotics toys, augmented reality toys, and remote-controlled toys are gaining traction. 5. How is the Asia Pacific market expected to grow? Ans: The APAC market is poised for rapid growth due to a rising middle-class population, educational toy preferences, and strategic industry investments. 6. What is the future outlook for the smart toys market? Ans. The market is set to continue its upward trajectory, evolving to meet consumer preferences in this exciting decade.
1. Smart Toys Market: Research Methodology 2. Smart Toys Market: Executive Summary 3. Smart Toys Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Market Structure 3.4.1. Market Leaders 3.4.2. Market Followers 3.4.3. Emerging Players 3.5. Consolidation of the Market 4. Smart Toys Market: Dynamics 4.1. Market Trends 4.2. Market Drivers 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape by Country 5. Smart Toys Market: Segmentation (by Value USD and Volume Units) 5.1. Smart Toys Market, by Product (2023-2030) 5.1.1. Interactive Games 5.1.2. Robots 5.1.3. Educational Robots 5.2. Smart Toys Market, by Application (2023-2030) 5.2.1. Education 5.2.2. Entertainment 5.2.3. Other 5.3. Smart Toys Market, by Interfacing Device (2023-2030) 5.3.1. Smartphones 5.3.2. Tablets 5.3.3. Gaming PC 5.3.4. Laptop 5.4. Smart Toys Market, by Technology (2023-2030) 5.4.1. Wi-Fi 5.4.2. Bluetooth 5.4.3. Other 5.5. Smart Toys Market, by Distribution Channel (2023-2030) 5.5.1. Online 5.5.2. Offline 5.6. Smart Toys Market, by Region (2023-2030) 5.6.1. North America 5.6.2. Europe 5.6.3. Asia Pacific 5.6.4. Middle East and Africa 5.6.5. South America 6. North America Smart Toys Market (by Value USD and Volume Units) 6.1. North America Smart Toys Market, by Product (2023-2030) 6.1.1. Interactive Games 6.1.2. Robots 6.1.3. Educational Robots 6.2. North America Smart Toys Market, by Application (2023-2030) 6.2.1. Education 6.2.2. Entertainment 6.2.3. Other 6.3. North America Smart Toys Market, by Interfacing Device (2023-2030) 6.3.1. Smartphones 6.3.2. Tablets 6.3.3. Gaming PC 6.3.4. Laptop 6.4. North America Smart Toys Market, by Technology (2023-2030) 6.4.1. Wi-Fi 6.4.2. Bluetooth 6.4.3. Other 6.5. North America Smart Toys Market, by Distribution Channel (2023-2030) 6.5.1. Online 6.5.2. Offline 6.6. North America Smart Toys Market, by Country (2023-2030) 6.6.1. United States 6.6.2. Canada 6.6.3. Mexico 7. Europe Smart Toys Market (by Value USD and Volume Units) 7.1. Europe Smart Toys Market, by Product (2023-2030) 7.2. Europe Smart Toys Market, by Application (2023-2030) 7.3. Europe Smart Toys Market, by Interfacing Device (2023-2030) 7.4. Europe Smart Toys Market, by Technology (2023-2030) 7.5. Europe Smart Toys Market, by Distribution Channel (2023-2030) 7.6. Europe Smart Toys Market, by Country (2023-2030) 7.6.1. UK 7.6.2. France 7.6.3. Germany 7.6.4. Italy 7.6.5. Spain 7.6.6. Sweden 7.6.7. Austria 7.6.8. Rest of Europe 8. Asia Pacific Smart Toys Market (by Value USD and Volume Units) 8.1. Asia Pacific Smart Toys Market, by Product (2023-2030) 8.2. Asia Pacific Smart Toys Market, by Application (2023-2030) 8.3. Asia Pacific Smart Toys Market, by Interfacing Device (2023-2030) 8.4. Asia Pacific Smart Toys Market, by Technology (2023-2030) 8.5. Asia Pacific Smart Toys Market, by Distribution Channel (2023-2030) 8.6. Asia Pacific Smart Toys Market, by Country (2023-2030) 8.6.1. China 8.6.2. S Korea 8.6.3. Japan 8.6.4. India 8.6.5. Australia 8.6.6. Indonesia 8.6.7. Malaysia 8.6.8. Vietnam 8.6.9. Taiwan 8.6.10. Bangladesh 8.6.11. Pakistan 8.6.12. Rest of Asia Pacific 9. Middle East and Africa Smart Toys Market (by Value USD and Volume Units) 9.1. Middle East and Africa Smart Toys Market, by Product (2023-2030) 9.2. Middle East and Africa Smart Toys Market, by Application (2023-2030) 9.3. Middle East and Africa Smart Toys Market, by Interfacing Device (2023-2030) 9.4. Middle East and Africa Smart Toys Market, by Technology (2023-2030) 9.5. Middle East and Africa Smart Toys Market, by Distribution Channel (2023-2030) 9.6. Middle East and Africa Smart Toys Market, by Country (2023-2030) 9.6.1. South Africa 9.6.2. GCC 9.6.3. Egypt 9.6.4. Nigeria 9.6.5. Rest of ME&A 10. South America Smart Toys Market (by Value USD and Volume Units) 10.1. South America Smart Toys Market, by Product (2023-2030) 10.2. South America Smart Toys Market, by Application (2023-2030) 10.3. South America Smart Toys Market, by Interfacing Device (2023-2030) 10.4. South America Smart Toys Market, by Technology (2023-2030) 10.5. South America Smart Toys Market, by Distribution Channel (2023-2030) 10.6. South America Smart Toys Market, by Country (2023-2030) 10.6.1. Brazil 10.6.2. Argentina 10.6.3. Rest of South America 11. Company Profile: Key players 11.1. Pillar Learning 11.1.1. Company Overview 11.1.2. Financial Overview 11.1.3. Business Portfolio 11.1.4. SWOT Analysis 11.1.5. Business Strategy 11.1.6. Recent Developments 11.2. Sega Toys Co. Ltd. 11.3. LeapFrog Enterprises Inc. 11.4. Mattel Inc. 11.5. Hasbro Inc. 11.6. Lego System A/S 11.7. Robofi LLC 11.8. Tomy Co. Ltd. 11.9. Doctor's Associates Inc. 11.10. Digital Dream Labs 11.11. Sphero 11.12. Wonder Workshop 11.13. TOSY Robotics 12. Key Findings 13. Industry Recommendation

About This Report

Report ID 17231
Category Consumer Goods & Services
Published Date January 2024
Updated Date