Press release
Know Worldwide specifications of the Global STEM Toys Market Size 2023-2033 | Top Key Players: Ravensburger, Spin Master, Sphero, VTech, Thames & Kosmos, Osmo, Hasbro, Melissa & Doug, BanBao, TAKARA TOMY, K'NEX, Goldlok Toys, and Others.
Global STEM Toys Market Size
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The global STEM toys market is the market for toys that educate STEM (science, technology, engineering, and mathematics) themes. STEM toys are designed to help kids develop their critical thinking, creativity, and problem-solving skills. The growing number of educated parents who wish to give their children access to cutting-edge educational possibilities and urbanization are predicted to fuel the growth of the global market for STEM toys. Additionally, integrating machine learning (ML) and artificial intelligence (AI) technology gives kids immediate feedback, making learning more efficient and interesting. Recreational product makers and STEM education providers have collaborated to create themed items that blend learning and pleasure. However, problems such as excessive costs and doubts about effectiveness could prevent the market from growing.
The engineering segment held the largest share of 36.81% in 2023 and is estimated to grow at a CAGR of 7.14% throughout the projection period.
Based on the type, the global STEM toys market is categorized into science, technology, engineering, and mathematics. Among these, the engineering segment held the largest share of 36.81% in 2023 and is estimated to grow at a CAGR of 7.14% throughout the projection period. This aids in the development of children's social skills by teaching them the importance of collaboration and communication. Many engineering toys provide activities that involve construction, assembly, and spatial reasoning, which help kids improve their spatial skills.
The 8-12 years segment accounted for the largest market share of 43.12% in 2023 and is estimated to grow at a CAGR of 8.42% throughout the projection period.
Based on the age group, the global STEM toys market is classified into 0-3 years, 3-8 years, and 8-12 years. Among these, the 8-12 years segment accounted for the largest market share of 43.12% in 2023 and is estimated to grow at a CAGR of 8.42% throughout the projection period. Since they are growing more curious and open to pursuing interests like science, engineering, and programming, these kids are more open to STEM toys.
The offline segment dominated the global STEM toys market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global STEM toys market is divided into online and offline. Among these, the offline segment dominated the global STEM toys market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Sales of STEM toys have increased since these channels are practical and provide a large selection of products.
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North America is anticipated to hold the largest share of the STEM toys market over the predicted timeframe.
North America is anticipated to hold the largest share of the STEM toys market over the predicted timeframe. Programs that promote STEM education are regularly supported by North American governments and educational institutions. This includes funding for STEM instruction in schools as well as initiatives to encourage the development and adoption of STEM products.
Asia Pacific is expected to grow at the fastest CAGR growth of the STEM toys market during the forecast period. The regional business is driven by a substantial clientele, with China and India spearheading the growth of the Asia-Pacific market.
Major key players in the global STEM toys market include LEGO Group, Mattel, Inc., Ravensburger, Spin Master, Sphero, VTech, Thames & Kosmos, Osmo, Hasbro, Melissa & Doug, BanBao, TAKARA TOMY, K'NEX, Goldlok Toys, and Others.
Recent Development
In July 2024, Plus Science and Healthy Kid Play announced a partnership, to develop new STEM toys that encourage collaboration and teamwork among children.
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Key Target Audience
Market Players
Investors
End-users
Government Authorities
Consulting And Research Firm
Venture capitalists
Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the STEM toys market based on the below-mentioned segments:
Global STEM Toys Market, By Type
Science
Technology
Engineering
Mathematics
Global STEM Toys Market, By Age Group
0-3 Years
3-8 Years
8-12 Years
Global STEM Toys Market, By Distribution Channel
Online
Offline
Global STEM Toys Market, By Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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