Smart Toys Market [2021-2031] - Size and Share
The Smart Toys Market is expected to register a CAGR of 11.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Robots, Interactive Games, Educational Robots), Technology (Wi-Fi, Bluetooth, RFID or NFC), Distribution Channel (Online/Ecommerce Stores, Specialty Stores, Toy Shops), End-user (Toddlers, Pre-schoolers, School-going, Stripling). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Smart Toys Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Smart Toys Market Segmentation
Type- Robots
- Interactive Games
- Educational Robots
- Wi-Fi
- Bluetooth
- RFID or NFC
- Online/Ecommerce Stores
- Specialty Stores
- Toy Shops
- Toddlers
- Pre-schoolers
- School-going
- Stripling
- Toddlers
- Pre-schoolers
- School-going
- Stripling
Strategic Insights
Smart Toys Market Growth Drivers- Technological Advancements: Market of Smart Toys Artificial intelligence, Internet of Things, and robotics are transforming the market of smart toys at rapid speed. Today, companies design interactions between children and toys that are radically engaging and extremely personalized. For example, given an AI-based toy, automatic response to the actions and queries of the child automatically modifies behavior by the toy. This interactivity is, in this way, entertaining but also brings a deeper degree of engagement to the game, so play becomes more dynamic and educational. In this sense, children play but will also learn useful skills, such as critical thinking and creativity, in an entertaining and enjoyable manner.
- Increased Consumer Demand: Now that parents have grown quite discerning, a shift has been felt in buying the dual-functional toys: the ones that educate simultaneously. The high-stimulation requirement of cognitive development and learning through play makes smart toys surely right on top of the list today. Therefore, the children's toys exploring different aspects of coding, solving, and STEM education are in preference. These toys entertain children but also prepare them with skills that can prove very important in the modern world. This trend shows a more broad trend, where parents want their children's toys to have some educational value so that play does not hinder progress in child development.
- Integration of Advanced Technologies: The future trend would involve deep integration with advanced technologies such as machine learning and natural language processing, which allow toys to learn from the interactions children have with them and then modify their responses and functionalities in accordance with individual's learning styles and preferences. For example, an algorithm in a smart toy can see how a child interacts with various activities and change the levels of challenges or even present new ones to adjust to the changing skills of that child. Meanwhile, NLP will enable toys to understand more verbal commands and respond in a more natural and conversational way for better engagement. It makes learning more effective and creates an emotion between the child and object with which he wants to play, thus turning it into an educational journey unique for each child.
- Augmented Reality (AR) and Virtual Reality (VR) Integration: Augmented and virtual reality technologies are becoming prevalent in smart toys. By merging physical play with digital content, such as AR games or VR experiences, these toys offer enriched play environments. This trend allows for interactive, educational experiences that blend the physical and digital worlds, expanding creative possibilities.
- Expansion of Product Offerings: The smart toys market opened a huge opportunity for companies to produce an array of products that matched well with age and interest groups, so such innovation may be in the forms of toys that develop AR or VR in bringing immersive experiences to children by mixing the interface of physical interaction with digitalization. For example, an AR toy might turn a child's play space into a living set of characters or space, and the VR headset can take a child to wonderlands where she/he might solve puzzles or go on adventures. Expanded product offerings will provide companies with something for any child to explore and enjoy, which should further enhance children's learning experiences while playing.
- Growing Awareness of STEM Education: The increasing focus on STEM (Science, Technology, Engineering, and Mathematics) education has created a robust demand for toys that promote these essential skills. As educational institutions and parents alike recognize the importance of equipping children with a strong foundation in STEM, smart toys that facilitate learning in these areas are becoming increasingly popular. These toys often incorporate hands-on activities, coding challenges, and problem-solving scenarios that encourage critical thinking and creativity. For example, a smart robot that requires children to program its movements not only entertains but also introduces them to basic coding concepts. This alignment with educational goals not only boosts the appeal of smart toys but also supports parents' desires to provide their children with tools that enhance their future learning and career prospects.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Smart Toys Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Smart Toys Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Integration of Advanced Technologies is anticipated to play a significant role in the global smart toys market in the coming years
The Smart Toys Market is estimated to witness a CAGR of 11.1% from 2023 to 2031
The major factors driving the smart toys market are:
1. Technological Advancements
2. Increased Consumer Demand
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1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Toys Market - By Type
1.3.2 Smart Toys Market - By End User
1.3.3 Smart Toys Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART TOYS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SMART TOYS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SMART TOYS MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART TOYS - GLOBAL MARKET OVERVIEW
6.2. SMART TOYS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART TOYS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ROBOTS
7.3.1. Overview
7.3.2. Robots Market Forecast and Analysis
7.4. INTERACTIVE GAMES
7.4.1. Overview
7.4.2. Interactive Games Market Forecast and Analysis
7.5. EDUCATIONAL ROBOTS
7.5.1. Overview
7.5.2. Educational Robots Market Forecast and Analysis
8. SMART TOYS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. TODDLERS
8.3.1. Overview
8.3.2. Toddlers Market Forecast and Analysis
8.4. PRE-SCHOOLERS
8.4.1. Overview
8.4.2. Pre-Schoolers Market Forecast and Analysis
8.5. SCHOOL-GOING
8.5.1. Overview
8.5.2. School-going Market Forecast and Analysis
8.6. STRIPLING
8.6.1. Overview
8.6.2. Stripling Market Forecast and Analysis
9. SMART TOYS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Smart Toys Market Overview
9.1.2 North America Smart Toys Market Forecasts and Analysis
9.1.3 North America Smart Toys Market Forecasts and Analysis - By Type
9.1.4 North America Smart Toys Market Forecasts and Analysis - By End User
9.1.5 North America Smart Toys Market Forecasts and Analysis - By Countries
9.1.5.1 United States Smart Toys Market
9.1.5.1.1 United States Smart Toys Market by Type
9.1.5.1.2 United States Smart Toys Market by End User
9.1.5.2 Canada Smart Toys Market
9.1.5.2.1 Canada Smart Toys Market by Type
9.1.5.2.2 Canada Smart Toys Market by End User
9.1.5.3 Mexico Smart Toys Market
9.1.5.3.1 Mexico Smart Toys Market by Type
9.1.5.3.2 Mexico Smart Toys Market by End User
9.2. EUROPE
9.2.1 Europe Smart Toys Market Overview
9.2.2 Europe Smart Toys Market Forecasts and Analysis
9.2.3 Europe Smart Toys Market Forecasts and Analysis - By Type
9.2.4 Europe Smart Toys Market Forecasts and Analysis - By End User
9.2.5 Europe Smart Toys Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Smart Toys Market
9.2.5.1.1 Germany Smart Toys Market by Type
9.2.5.1.2 Germany Smart Toys Market by End User
9.2.5.2 France Smart Toys Market
9.2.5.2.1 France Smart Toys Market by Type
9.2.5.2.2 France Smart Toys Market by End User
9.2.5.3 Italy Smart Toys Market
9.2.5.3.1 Italy Smart Toys Market by Type
9.2.5.3.2 Italy Smart Toys Market by End User
9.2.5.4 United Kingdom Smart Toys Market
9.2.5.4.1 United Kingdom Smart Toys Market by Type
9.2.5.4.2 United Kingdom Smart Toys Market by End User
9.2.5.5 Russia Smart Toys Market
9.2.5.5.1 Russia Smart Toys Market by Type
9.2.5.5.2 Russia Smart Toys Market by End User
9.2.5.6 Rest of Europe Smart Toys Market
9.2.5.6.1 Rest of Europe Smart Toys Market by Type
9.2.5.6.2 Rest of Europe Smart Toys Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Smart Toys Market Overview
9.3.2 Asia-Pacific Smart Toys Market Forecasts and Analysis
9.3.3 Asia-Pacific Smart Toys Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Smart Toys Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Smart Toys Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Smart Toys Market
9.3.5.1.1 Australia Smart Toys Market by Type
9.3.5.1.2 Australia Smart Toys Market by End User
9.3.5.2 China Smart Toys Market
9.3.5.2.1 China Smart Toys Market by Type
9.3.5.2.2 China Smart Toys Market by End User
9.3.5.3 India Smart Toys Market
9.3.5.3.1 India Smart Toys Market by Type
9.3.5.3.2 India Smart Toys Market by End User
9.3.5.4 Japan Smart Toys Market
9.3.5.4.1 Japan Smart Toys Market by Type
9.3.5.4.2 Japan Smart Toys Market by End User
9.3.5.5 South Korea Smart Toys Market
9.3.5.5.1 South Korea Smart Toys Market by Type
9.3.5.5.2 South Korea Smart Toys Market by End User
9.3.5.6 Rest of Asia-Pacific Smart Toys Market
9.3.5.6.1 Rest of Asia-Pacific Smart Toys Market by Type
9.3.5.6.2 Rest of Asia-Pacific Smart Toys Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Smart Toys Market Overview
9.4.2 Middle East and Africa Smart Toys Market Forecasts and Analysis
9.4.3 Middle East and Africa Smart Toys Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Smart Toys Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Smart Toys Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Smart Toys Market
9.4.5.1.1 South Africa Smart Toys Market by Type
9.4.5.1.2 South Africa Smart Toys Market by End User
9.4.5.2 Saudi Arabia Smart Toys Market
9.4.5.2.1 Saudi Arabia Smart Toys Market by Type
9.4.5.2.2 Saudi Arabia Smart Toys Market by End User
9.4.5.3 U.A.E Smart Toys Market
9.4.5.3.1 U.A.E Smart Toys Market by Type
9.4.5.3.2 U.A.E Smart Toys Market by End User
9.4.5.4 Rest of Middle East and Africa Smart Toys Market
9.4.5.4.1 Rest of Middle East and Africa Smart Toys Market by Type
9.4.5.4.2 Rest of Middle East and Africa Smart Toys Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Smart Toys Market Overview
9.5.2 South and Central America Smart Toys Market Forecasts and Analysis
9.5.3 South and Central America Smart Toys Market Forecasts and Analysis - By Type
9.5.4 South and Central America Smart Toys Market Forecasts and Analysis - By End User
9.5.5 South and Central America Smart Toys Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Smart Toys Market
9.5.5.1.1 Brazil Smart Toys Market by Type
9.5.5.1.2 Brazil Smart Toys Market by End User
9.5.5.2 Argentina Smart Toys Market
9.5.5.2.1 Argentina Smart Toys Market by Type
9.5.5.2.2 Argentina Smart Toys Market by End User
9.5.5.3 Rest of South and Central America Smart Toys Market
9.5.5.3.1 Rest of South and Central America Smart Toys Market by Type
9.5.5.3.2 Rest of South and Central America Smart Toys Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SMART TOYS MARKET, KEY COMPANY PROFILES
11.1. FAT BRAIN HOLDINGS LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DREAM INTERNATIONAL
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. EXPORTERSINDIA.COM
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HASBRO INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JAKKS PACIFIC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. KONAMI CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LEAPFROG ENTERTAINMENT
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SMART KIDS TOYS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SMARTIVITY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOMY COMPANY LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Fat Brain Holdings LLC
2. Dream International
3. ExportersIndia.Com
4. Hasbro Inc.
5. Jakks Pacific
6. Konami Corporation
7. Leapfrog Entertainment
8. Smart Kids Toys
9. Smartivity
10. TOMY Company Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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