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Smart Toys Global Market Report 2022

Smart Toys Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6316150
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the smart toys market are KNEX Industries Inc., The Lego Group, Mattel Inc., Hasbro Inc., JAKKS Pacific Inc., Robofi LLC, Primo Toys, Leapfrog Enterprises Inc., Sega Toys Co. Ltd., Pillar Learning, Dream International and Leapfrog Entertainment.

The global smart toys market is expected to grow from $11.87 billion in 2021 to $14.14 billion in 2022 at a compound annual growth rate (CAGR) of 19.16%. The smart toys market is expected to reach $29.70 billion in 2026 at a compound annual growth rate (CAGR) of 20.39%.

The smart toys market consists of the sales of smart toys by entities (organizations, partnerships, and sole proprietors) that refers to toys with the ability to connect to the internet to gather information and interact with its user. These toys are intelligent and smart toys designed to self-configure and connect to the existing Internet, using a wireless network such as Wi-Fi or Bluetooth technology.

The main types of smart toys include robots, interactive games and educational robots.The robots includes smart robotic toys products that refers to a type of toy containing motors to interact intelligently with their environment.

The robotic toy offers many educational opportunities which are very helpful to use for kids.A robot toy is basically a machine that can be designed to operate different tasks independently of a human, with many even demonstrating different personalities.

The technologies used include Wi-Fi, bluetooth and other technologies (NFC and RFID) and are distributed by channels such as online market, speciality stores and toy shops.The various interfacing device include smartphone-connected toys, tablet-connected toys, console-connected toys and app-connected drones.

Smart toys are used by toddlers, pre-schoolers, school-going and stripling.

North America was the largest region in the smart toys market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the smart toys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The smart toys market research report is one of a series of new reports that provides smart toys market statistics, including smart toys industry global market size, regional shares, competitors with a smart toys market share, detailed smart toys market segments, market trends and opportunities, and any further data you may need to thrive in the smart toys industry. This smart toys market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Increasing awareness of technology-led education in the smart toys market is expected to propel the growth of the smart toys market in the forecast period.Technology-led education refers to the integration of instructional technology into the learning environment of schools.

This type of technology education will make learning fun and help children to learn more.Education value associated with such toys has increased participants to introduce more e-learning technologies with more advanced voice recognition features and hardware sensors that make the product more intelligent, interactive, and dynamic.

E-learning is one of the biggest revolutions in the smart toys Industry. For instance, in the year 2021, according to think impact.com, an Australia-based non-profit organization, nearly 75% of schools are planning to operate online, 57% of all US students were equipped with digital tools, and 80% of schools have purchased or are preparing to purchase additional technology for students. An increase in awareness of technology-led education will help the children increase IQ and promote problem-solving skills. Thus due to an increase in technology-led education, there will be growth in the smart toys market.

Technological advancement is a key trend gaining popularity in the smart toys market.Major companies operating in the smart toys sector are focused on developing new technological solutions to strengthen their position.

For instance, in September 2020, PlayShifu launched a new augmented reality (AR) globe Orboot Dinos.This new toy, when used with the supported app by using AR technology, will superimpose animals from the prehistoric world.

The dinosaurs will come alive in 3D, by scanning the globe with the app.It will include games with 500+ incredible facts to interacting with the walking-talking dinosaurs.

These technological innovations will help the smart toy market to grow faster.

In October 2021, Goliath, a US-based manufacturer and distributor of toys and games, acquired Endless Games, for an undisclosed amount.With this acquisition, Goliath aims to fully integrate Endless Games into its distribution network by Q1 2022.

Endless Games is a Turkey-based game development company.

The countries covered in the smart toys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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