Connected Toys Market to Reach $39.7 Billion by 2030 | Top Key Players are Mattel Inc., The LEGO Group, Hasbro Inc., Sphero Inc., KONAMI, Basic Fun Inc., Sony Corporation

According to the latest market research study published by P&S Intelligence, the connected toys market is poised for significant growth, with projected revenues reaching $11.8 billion in 2024 and an anticipated compound annual growth rate (CAGR) of 22.4% from 2025 to 2030, culminating in a market size of $39.7 billion by 2030.

This surge is driven by a rising preference among children for interactive toys that offer multiple functions and connectivity. Technological advancements, increased digital literacy among children, and a growing demand for educational value in toys are key contributors to this trend. The integration of artificial intelligence (AI), augmented reality (AR), and voice recognition technologies is further propelling market expansion. Additionally, factors such as higher disposable incomes, the gamification of learning, demand for personalization, progress in cloud computing, and corporate investments are bolstering the growth of the connected toys market.

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Key Insights

Segmentation Analysis:

• By Application: The market is segmented into education and entertainment applications. The education category holds the largest share, reflecting a strong demand for toys that combine learning with play.

• By Age Group: The market caters to various age groups, including 1-5 years, 6-8 years, 9-12 years, and teenagers. This segmentation ensures that products are tailored to the developmental needs and preferences of each group.

• By Technology: Connected toys utilize technologies such as Wi-Fi and Bluetooth to enhance interactivity and connectivity.

• By Distribution Channel: Products are distributed through online and offline channels, offering consumers flexibility in purchasing options.

Regional and Geographical Trends:

• North America: Currently the largest market for connected toys, driven by high consumer awareness and technological adoption.

• Asia-Pacific: Identified as the fastest-growing region, attributed to increasing disposable incomes, rapid urbanization, and a growing middle-class population with a penchant for technologically advanced products.

Technological Advancements Shaping the Market:

• Integration of AI and AR: The incorporation of artificial intelligence and augmented reality into connected toys is enhancing user experiences by enabling personalized interactions and immersive learning environments.

• Voice Recognition: The adoption of voice recognition technology allows for more natural and engaging interactions between users and toys, facilitating language development and interactive storytelling.

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Competitive Dynamics, Major Players, and Emerging Opportunities:

• Market Fragmentation: The connected toys market is characterized as fragmented, indicating the presence of numerous players striving for market share.

• Key Players: Major companies are focusing on innovation and strategic partnerships to differentiate their offerings and capture consumer interest.

• Emerging Opportunities: There is a growing opportunity in developing toys that promote social-emotional learning (SEL), aiding children in understanding and managing emotions, setting positive goals, and demonstrating empathy. AI-powered interactions are being designed to teach children about relationships, emotions, and social circumstances, aligning with the increasing emphasis on SEL in educational paradigms.

In conclusion, the connected toys market is on a robust growth trajectory, fueled by technological innovations and a heightened focus on educational and interactive play experiences. Companies that effectively integrate advanced technologies and address educational needs are well-positioned to capitalize on the emerging opportunities in this dynamic market.

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This release was published on openPR.