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Learning And Education Toys Global Market Report 2024 Market Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights
Learning And Education Toys Global Market
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According to The Business Research Company's, The learning and education toys market size has grown strongly in recent years. It will grow from $54.33 billion in 2023 to $58.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rise of educational philosophy, emphasis on stem education, innovations in construction toys, growth of educational tv and media, demand for language and literacy toys.
The learning and education toys market size is expected to see strong growth in the next few years. It will grow to $75.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to educational subscription services, cross-curricular and multifunctional toys, parental involvement and educational value, global expansion and emerging markets, innovation in augmented reality (AR) and virtual reality (VR) toys. Major trends in the forecast period include global shift in education approach, stem and steam education focus, interactive and tech-integrated toys, sustainability and eco-friendly toys, emphasis on early childhood development.
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Market Drivers and Trends:
The rise in demand for strategy-based and educational-based toys among children is driving the growth of the learning and education toys market. Educational toys are the objects of play, and they are generally designed for children, which stimulates learning. They are intended to meet an educational purpose, such as teaching a child about a particular subject or helping a child develop a particular skill. Strategy-based toys also improve the skills of the child. For instance, in August 2021, according to a survey by The NPD Group, U.S. toy industry dollar sales increased 19% from January to June 2021, growing $1.7 billion, to $11.0 billion in sales. Outdoor and Sports Toys also had the largest dollar gain of $280 million while Plush had the fastest dollar growth versus 2020 of 39%. Therefore, the rise in demand for strategy-based and educational-based toys among children is driving the growth of the learning and education toys market.
Smart technology embedded learning and educational toys are gaining popularity in the learning and education toys market. Smart toys have some level of artificial intelligence, which means they can learn, change how they communicate with the user, respond to external stimuli, and follow pre-programmed patterns. These toys give kids the ability to create their own play experience and act as a valuable educational tool. Major companies in the learning and education toys market are focusing on developing smart toys to grab market share. For instance, in May 2021, Makeblock, a private Chinese technology company, launched Codeybot, an educational robot that teaches children basic programming through a variety of intuitive features. Further in May 2021, the American multinational toy manufacturer Mattel launched the Hot Wheels AI Street Shaker smart car and gaming controller, which helps add more players to the set and extend the race. With the help of the AI starter kit, players can follow the smart track or race independently in AI mode, as well as off-track in RC mode.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
The LEGO Group, Bandai Namco Holdings Inc., Hasbro Inc., VTech Holdings Limited, Atlas Games, Scholastic Corporation, TOMY Company Ltd., Fisher-Price Inc., Crayola LLC, Goliath Games, Melissa & Doug LLC, LeapFrog Enterprises Inc., Clementoni S.p.A., PlayMonster LLC, MindWare Holdings Inc., Ravensburger AG, Hape International Inc., Elenco Electronics Inc., Educational Insights, Fat Brain Holdings LLC, ThinkFun Inc., Geomagworld SA, Learning Without Tears, Alex Brands, Creativity for Kids, The Learning Journey International LLC, K'NEX Brands L.P., Galt Toys, Roylco Inc., Learning Wrap-Ups Inc., Be Amazing! Toys, OWI Inc., 4M Industrial Development LimitedNational, Geographic Partners LLC, Uncle Milton Industries Inc., Scientific Explorer
Learning And Education Toys Market 2024 Key Insights:
• The learning and education toys market size is expected to see strong growth in the next few years. It will grow to $75.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Growing Preference For Educational And Strategy-Based Toys Sparks Surge In Learning And Education Toys Market Demand
• Innovative Products In The Learning And Educational Toys Market Shaping The Future Of Play And Education
• Asia-Pacific was the largest region in the learning and education toys market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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