Press release
Smart Toys Market Poised to Hit $55.08 Billion by 2029 with Accelerating Growth Trends
Smart Toys
Smart Toys Market Size Growth Forecast: What to Expect by 2025?
The market size for smart toys has witnessed a rapid expansion in recent times. It is predicted to rise from $20.85 billion as of 2024 to hit $25.02 billion by 2025, generating a compound annual growth rate (CAGR) of 20.0%.
How Will the Smart Toys Market Size Evolve and Grow by 2029?
Anticipated to experience a significant surge in the forthcoming years, the smart toys market is predicted to expand to a worth of $55.08 billion by 2029, growing at a compound annual growth rate (CAGR) of 21.8%. This projected growth for the forecast period can be associated with the surge in edutainment, growing fondness for connected toys, parental control, increasing requirement for app-enabled mechanical playthings, and heightened demand for stimulating and engaging toys. The forecast period also shows major trends such as augmented reality (AR) and virtual reality (VR), controls based on voice and gestures, interconnected gameplay, AI-operated play buddies, development of 3D printing innovations and proximity sensors in toys.
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What Drivers Are Propelling the Growth of Smart Toys Market Forward?
Expected growth in the smart toys market is due to the rising awareness of tech-driven learning. The concept of technology-led education is the infusion of instructional tech into schools' learning environment. This type of education makes learning entertaining and assists children in absorbing more knowledge. The educational value linked with these kinds of toys is prompting more participants to introduce e-learning technologies with improved voice recognition capabilities and hardware sensors. These features make the product smarter, more engaging, and vibrant. E-learning is causing an enormous upheaval in the smart toys industry. For example, a France-based specialized agency, the United Nations Educational, Scientific, and Cultural Organization, stated that around 50% of the lower secondary schools worldwide used the internet for educational purposes in 2022. So, the increase in tech-led education will stimulate growth in the smart toys market.
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Which Emerging Trends Are Transforming the Smart Toys Market in 2025?
Leading businesses in the smart toys sector are pioneering technologically superior items such as artificial intelligence companions to expand their customer reach and boost profits. An artificial intelligence, or AI companion, is a digital or virtual entity that uses AI technology to interact with users and assist in a range of tasks and activities. One such instance can be seen in April 2023, when Toymint, a Canadian company known for its toys and children's goods, introduced TeddyGPT. This revolutionary AI chat teddy provides children and families with a captivating and educational engagement. TeddyGPT signifies a novel integration of a classic toy's allure and the cutting-edge capabilities of AI. This extraordinary plaything merges the traditional teddy bear's charm with advanced AI functionalities, providing an incomparable interactive experience that promotes communication, companionship, and learning. Created by OpenAI, TeddyGPT enables this toy associate to understand and respond to a broad spectrum of topics, queries, and cues, thus leading to engaging discussions that trigger the creativity and inquisitiveness of children, exceeding the abilities of standard toys.
What Are the Key Segments in the Smart Toys Market?
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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Who Are the Key Players Shaping the Smart Toys Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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