The global smart toys market size was valued at $ 16.68 billion in 2023 and is estimated to reach $ 106.83 billion by 2033, growing at a CAGR of 20.9% from 2024 to 2033.
The smart toys market has witnessed significant growth in developed economies such as the U.S., Canada, Germany, the UK, and France due to the increased cultural acceptance of technology-based products in the past decade. Consumers in developed regions such as Europe and North America generally prefer technologically advanced products in various aspects. The higher digital literacy and presence of a higher number of tech-savvy parents in the developed regions have led to a higher demand for smart toys. According to the National Center for Education Statistics, “In 2021, the percentage of 3 to 18 year olds who had home internet access through a computer was highest for those whose parents had attained a bachelor or higher degree (98 %) and lowest for those whose parents had attained less than a high school credential (78%).” Moreover, the growth in consumer awareness regarding the benefits or advantages of smart toys over traditional toys in developing economies such as Brazil, India, and China are expected to foster the demand for smart toys in the foreseeable future. Furthermore, the rise in disposable income coupled with the easy availability of smart toys due to the presence of widespread offline and online sales channels across the globe has positively fostered the growth of the smart toys market.
However, there are several challenges associated with smart toys that may hamper the growth of the smart toys market. In November 2023, an 11-year-old girl in the U.S. was kidnapped by a man she encountered while playing an online game named Robolox. She was later found at about 135 miles away from her home. The toys installed with microphones, trackers, and cameras pose a cyber threat to children. Therefore, increase in cyber threats associated with digital technologies may negatively impact the demand for smart toys across the globe.
However, the growth in focus of the manufacturers on safety and security and the regulations framed by the government authorities regarding the safety standards of toys and digital devices are expected to positively impact the smart toys market. Furthermore, the developmental strategies such as new product launches, acquisitions, and business expansion undertaken by the major market players are expected to drive the growth of the market in the forthcoming years. For instance, in April 2022, LeapFrog Enterprises, Inc. launched Scout and Violet plush pals to offer a creative touch-sensitive toy to provide fun learning experiences to the children. In July 2022, Smart Toys and Games acquired The Happy Puzzle Company to merge the product portfolio of Happy Puzzle into Smart Toys and Games' growing portfolio. This acquisition is aimed at strengthening the portfolio and distribution network of Smart Toys and Games.
The smart toys market is segmented on the basis of type, technology, distribution channel, and region. On the basis of type, the smart toys market is segregated into robots, interactive games, and educational robots. On the basis of technology, the market is divided into Wi-Fi, Bluetooth, RFID or NFC, and others. On the basis of distribution channel, the market is bifurcated into offline and online. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Mattel, Inc., LEGO Group, Hasbro, Inc., K’NEX Industries, Inc., Jakks Pacific, Inc., WowWee Group Limited, Anki, Inc., Sphero, Inc., LittleBits Electronics, Inc., UBTECH Robotics, Inc., and Fisher-Price, Inc. are the major companies profiled in the smart toys market report. These players are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing smart toys market opportunities.
The smart toys market has witnessed significant growth in developed economies such as the U.S., Canada, Germany, the UK, and France due to the increased cultural acceptance of technology-based products in the past decade. Consumers in developed regions such as Europe and North America generally prefer technologically advanced products in various aspects. The higher digital literacy and presence of a higher number of tech-savvy parents in the developed regions have led to a higher demand for smart toys. According to the National Center for Education Statistics, “In 2021, the percentage of 3 to 18 year olds who had home internet access through a computer was highest for those whose parents had attained a bachelor or higher degree (98 %) and lowest for those whose parents had attained less than a high school credential (78%).” Moreover, the growth in consumer awareness regarding the benefits or advantages of smart toys over traditional toys in developing economies such as Brazil, India, and China are expected to foster the demand for smart toys in the foreseeable future. Furthermore, the rise in disposable income coupled with the easy availability of smart toys due to the presence of widespread offline and online sales channels across the globe has positively fostered the growth of the smart toys market.
However, there are several challenges associated with smart toys that may hamper the growth of the smart toys market. In November 2023, an 11-year-old girl in the U.S. was kidnapped by a man she encountered while playing an online game named Robolox. She was later found at about 135 miles away from her home. The toys installed with microphones, trackers, and cameras pose a cyber threat to children. Therefore, increase in cyber threats associated with digital technologies may negatively impact the demand for smart toys across the globe.
However, the growth in focus of the manufacturers on safety and security and the regulations framed by the government authorities regarding the safety standards of toys and digital devices are expected to positively impact the smart toys market. Furthermore, the developmental strategies such as new product launches, acquisitions, and business expansion undertaken by the major market players are expected to drive the growth of the market in the forthcoming years. For instance, in April 2022, LeapFrog Enterprises, Inc. launched Scout and Violet plush pals to offer a creative touch-sensitive toy to provide fun learning experiences to the children. In July 2022, Smart Toys and Games acquired The Happy Puzzle Company to merge the product portfolio of Happy Puzzle into Smart Toys and Games' growing portfolio. This acquisition is aimed at strengthening the portfolio and distribution network of Smart Toys and Games.
The smart toys market is segmented on the basis of type, technology, distribution channel, and region. On the basis of type, the smart toys market is segregated into robots, interactive games, and educational robots. On the basis of technology, the market is divided into Wi-Fi, Bluetooth, RFID or NFC, and others. On the basis of distribution channel, the market is bifurcated into offline and online. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Mattel, Inc., LEGO Group, Hasbro, Inc., K’NEX Industries, Inc., Jakks Pacific, Inc., WowWee Group Limited, Anki, Inc., Sphero, Inc., LittleBits Electronics, Inc., UBTECH Robotics, Inc., and Fisher-Price, Inc. are the major companies profiled in the smart toys market report. These players are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing smart toys market opportunities.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart toys market analysis from 2023 to 2033 to identify the prevailing smart toys market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the smart toys market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global smart toys market trends, key players, market segments, application areas, and market growth strategies.
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- Consumer Buying Behavior Analysis
- Average Consumer Expenditure
- Pain Point Analysis
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
Key Market Segments
By Type
- Robots
- Interactive Games
- Educational Robots
By Technology
- Wi Fi
- Bluetooth
- RFID or NFC
- Others
By Distribution Channel
- Offline
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of LAMEA
Key Market Players
- The Lego Group
- hasbro inc
- K'NEX Industries, Inc.
- Mattel, Inc.
- JAKKS Pacific Inc.
- WowWee Group Ltd.
- Anki, Inc.
- Sphero Inc.
- littleBits Electronics, Inc.
- UBTECH Robotics Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SMART TOYS MARKET, BY TYPE
CHAPTER 5: SMART TOYS MARKET, BY TECHNOLOGY
CHAPTER 6: SMART TOYS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: SMART TOYS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- The Lego Group
- hasbro inc
- K'NEX Industries, Inc.
- Mattel, Inc.
- JAKKS Pacific Inc.
- WowWee Group Ltd.
- Anki, Inc.
- Sphero Inc.
- littleBits Electronics, Inc.
- UBTECH Robotics Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | January 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 16.68 billion |
| Forecasted Market Value ( USD | $ 106.83 billion |
| Compound Annual Growth Rate | 20.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
