Press release
Smart Toys Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Smart Toys
What Is the Projected Growth of the Smart Toys Market?
There has been an impressive expansion of the smart sports equipment market recently. In terms of size, it is set to escalate from $4.02 billion in 2024, eventually reaching a value of $4.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. Several factors have contributed to this growth during the historic period, including a shift in consumer preferences towards more tailored experiences, the growth of e-commerce businesses, the increased use of mobile devices, a heightened interest in digital entertainment and gaming, as well as an increased consumer awareness and acceptance.
Predictions suggest a swift expansion of the smart sports equipment market in the upcoming years, with its value potentially reaching $6.29 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.4%. The projected growth during this period can be linked to the surge in edutainment, the growing appeal of connected toys, empowerment of parents, greater demand for app-facilitated mechanical toys, and a rise in the demand for interactive and engaging toys. Noteworthy trends during the forecast period are expected to include augmentations in reality (AR) and virtual reality (VR), voice and gesture controls, interconnected games, AI-supported playmates, the growth of 3D printing technology, and the incorporation of proximity sensors in toys.
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What Are the Different Smart Toys Market Segments?
The smart toys market covered in this report is segmented -
1) By Technology?: Wi-Fi, Bluetooth?, Other Technologies (NFC And RFID)
2) By Distribution Channel: Online market, Specialty Stores, Toy Shops
3) By Type: Robots, Interactive Games, Educational Robots
4) By Interfacing Device: Smartphone-Connected Toys, Tablet-Connected Toys, Console-Connected Toys, App-Connected Drones
5) By End User: Toddlers, Pre-Schoolers, School-Going, Stripling
Subsegments:
1) By Wi-Fi: Wi-Fi-Enabled Interactive Toys, Smart Learning Toys with Cloud Connectivity, Remote-Controlled Wi-Fi Toys
2) By Bluetooth: Bluetooth-Enabled Educational Toys, Smart Plush Toys with Bluetooth Connectivity, Interactive Games with Bluetooth Features
3) By Other Technologies: NFC-Enabled Toys for Instant Interaction, RFID-Tagged Toys for Tracking and Identification, Smart Cards and Accessories with NFC/RFID Features
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What Are the Primary Drivers Shaping the Smart Toys Market?
The surge in understanding of technology-driven education within the smart toys market is predicted to fuel the sector's expansion during the forecast period. This refers to the incorporation of instructional technology within school learning environments. Such technological education makes learning enjoyable and facilitates increased knowledge acquisition among children. The educational advantages offered by these toys have encouraged its participants to introduce more electronic learning technologies, equipped with sophisticated voice recognition and hardware sensors, that render the product more intelligent, interactive, and dynamic. Electronic learning represents one of the largest shifts in the smart toys industry. As an illustration, the France-based United Nations Educational, Scientific, and Cultural Organization estimated that by 2023, about 50% of lower secondary schools globally would have internet access for educational purposes in 2022. Therefore, the rise in technology-driven education will elicit growth in the smart toys market.
Which Companies Are Leading in the Smart Toys Market?
Major companies operating in the smart toys market include The Lego Group, Mattel Inc., Hasbro Inc., JAKKS Pacific Inc., WowWee Group Limited, Anki Inc., Sphero Inc., LittleBits Electronics Inc., UBTECH Robotics Inc., Ozobot Inc., Miko (Emotix), Playmobil, Fisher-Price Inc., LeapFrog Enterprises Inc., Tomy Company Ltd., DJI Technology Co. Ltd., Wonder Workshop Inc., Innovation First International Inc., Yuneec International Co. Ltd., Spin Master Corp., Botzee India Private Limited, Siam Mandalay Co. Ltd., Wondermento Ltd., Bluebee Pals, CogniToys, Tinkerbots Games Ltd., Modular Robotics, Pai Technology Ltd., Makeblock
What Are the Major Trends Shaping the Smart Toys Market?
Leading businesses in the smart toys industry are creating cutting-edge products such as artificial intelligence allies to cater to larger audiences, boost sales, and grow profits. An AI ally - an abbreviation for artificial intelligence companion - is a virtual or digital character that employs AI to interact with users and assist them in various tasks. For example, in April 2023, Toymint, a Canada-based manufacturer of toys and children goods, introduced TeddyGPT. This creatively designed AI teddy talk provides an exciting, involved, and educational engagement crafted for families and kids. TeddyGPT symbolizes a unique blend of the attractiveness of a tangible toy and the most recent advancements in AI technology. This extraordinary toy blends the captivating allure of a classic teddy bear with advanced AI elements, delivering an exceptional interactive experience that promotes dialogue, friendship, and education. By OpenAI's development, TeddyGPT enables this toy companion to understand and react to a large spectrum of topics, queries, and cues, producing fascinating dialogues that ignite children's inventiveness and interest, outpacing the features of regular toys.
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What Are the Top Revenue-Generating Geographies in the Smart Toys Market?
North America was the largest region in the smart toys market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart toys market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Toys Market?
2. What is the CAGR expected in the Smart Toys Market?
3. What Are the Key Innovations Transforming the Smart Toys Industry?
4. Which Region Is Leading the Smart Toys Market?
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