Market Research Report

Global Smart Toys Market Research Report: Forecast (2024-2030)

By Technology (Wi-Fi, Bluetooth, Others (RFID, NFC, etc.)), By Distribution Channel (Online, Stores), By Age Group, (2 to 5 Years, 6 to 8 Years, 9 to 12 Years, >12 Years), By Appli...cation (Entertainment, Education), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (TOSY Robotics, Wonder Workshop, Inc., Indiegogo, Inc., Sphero, Inc., MORAVIA Consulting Spol. s r.o., Innokind, Inc., Pillar Learning, WowWee Group Limited, Pilot Laboratories, Inc., Mattel Inc., MobilizAR Technologies Pvt. Ltd., Robo Wunderkind, Learning Resources Ltd., UBTECH ROBOTICS CORP LTD., and others) Read more

  • FMCG
  • Oct 2023
  • 198
  • PDF, Excel, PPT

Market Definition

Smart toys offer several interactive gaming and educational experiences to children as they are equipped with sensors and technology, making them quite interactive with children. They are used for offering interactive experiences to children, through responding to their actions, which allows them to learn different activities.

Market Insights & Analysis: Global Smart Toys Market (2024-30):

The Global Smart Toys Market size is estimated to grow at a CAGR of around 15.4% during the forecast period, i.e., 2024-30. The market has been majorly influenced by the rising preference of consumers for alternative toy solutions, which are more interactive and engaging for children.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 15.4%
Regions Covered North America: US, Canada, Mexico
Europe: The UK, Germany, Spain, France, Italy, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of the Middle East & Africa
Key Companies Profiled TOSY Robotics, Wonder Workshop, Inc., Indiegogo, Inc., Sphero, Inc., MORAVIA Consulting Spol. s r.o., Innokind, Inc., Pillar Learning, WowWee Group Limited, Pilot Laboratories, Inc., Mattel Inc., MobilizAR Technologies Pvt. Ltd., Robo Wunderkind, Learning Resources Ltd., UBTECH ROBOTICS CORP LTD., and others
Unit Denominations USD Million/Billion

 

Furthermore, parents have been actively seeking educational options for their children that promote the development of cognitive skills. Smart toys have emerged as a compelling choice for children, providing consistent and engaging play experiences that reduce reliance on mobile screens. These toys not only entertain but also deliver valuable educational content.

Further, in countries such as India, China, and the United States, where both parents are part of the workforce, the challenge of balancing work and childcare has led to a growing demand for solutions that support their children's development and learning. This trend is expected to continue driving the growth of the Global Smart Toys Market in the forthcoming years.


Global Smart Toys Market Research Report: Forecast (2024-2030)

Global Smart Toys Market Driver:

Rising Preference of Educational Learning Toys Among Consumers – The rising inclination of parents toward educational toys for their children has been supporting the growth of the smart toys market in recent years. This has been primarily attributed to the rising awareness among parents regarding the importance of childhood education, and the strong memories created during this age. These factors have led to a strong desire among consumers to provide educational toys to their children at the right age to improve their cognitive skills. Moreover, in response to this consumer trend, companies have initiated the expansion of their educational smart toy offerings to meet the growing demand in the market. For instance,

  • In 2023, Sony Group Corp. introduced its Toio programmable robotic toy in China, aimed at nurturing creativity and imagination in children from kindergarten to primary school and educational institutions, as part of their expansion in the STEM education market.

Hence, as companies develop better educational toys, it is expected to lead to the expansion of Global Smart Toys Market in the coming years.

Global Smart Toys Market Challenge:

Privacy & Security Issues in Internet-Connected Smart Toys – The internet-connected smart toys have been posing a significant challenge related to ensuring the privacy and security of children. Owing to this, their adoption has been significantly hampered among consumers over the past few years. Also, these toys, while providing novel ways of play, have been raising concerns about data collection and privacy infringement. Whether through the consent of parents or children, these toys have been capable of gathering and sharing user information, ultimately compromising privacy and security.

Moreover, these devices are part of the larger Internet of Things (IoT), connecting digital and physical entities to access new applications and services. They are able to listen to voices geo track children’s locations, etc., which may pose a significant challenge to the security of the child. This connection extends to various smart toys, including those with cameras and microphones, potentially recording and transmitting sensitive information. Hence, the issues related to security are projected to affect the market’s growth in the coming years as well.

Global Smart Toys Market Trend:

Increasing Demand for AI and IoT-Enabled Smart Toys – The rising inclination of consumers toward AI and IoT-enabled smart toys has been gaining significant traction in recent years. This has been attributed to the better engaging capability of these toys, which has been helping children improve their cognitive, problem-solving, and communication skills. Also, these toys have the capacity to recognize voice and children's activities, owing to which they offer a better interactive experience to the children. Hence, these toys have been largely preferred among consumers over the recent years. Also, observing this rising inclination of parents, companies across the globe have significantly started investing in the research & development of new and better AI-enabled Smart toys, which would offer highly immersive experiences to children. For instance,

  • In 2023, Anki Cozmo Robot announced the introduction of Cozmo 2.0, which is an AI-enabled educational toy robot, that is capable of making clever facial expressions and offering a beginner-friendly interface.

Therefore, with the introduction of better-performing AI-enabled smart toys, they are projected to witness a significant demand in the coming years as well, which would lead to improved market growth.

Global Smart Toys Market (2024-30): Segmentation Analysis

The Global Smart Toys Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. As per the analysis, the market has been further classified as:

Based on Application:

  • Entertainment
  • Education

Among them, the education segment has emerged as a dominant application in recent years. This has been majorly attributed to the significant presence of smart toys offering educational experiences in different segments, especially coding. Also, the integration of STEM (Science, Technology, Engineering, and Mathematics) concepts has been further allowing children to develop essential cognitive and problem-solving skills. Moreover, as companies come up with more technological advancements, the demand for smart toys for educational purposes would amplify in the coming years as well.

Global Smart Toys Market (2024-30): Regional Projections

Geographically, the Global Smart Toys Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Out of these, North America has experienced substantial growth in the Global Smart Toys Market in recent years. This has been largely due to the presence of significant market players across the region, who have been constantly investing in the development of better technology in smart toys. Additionally, the increasing participation of parents in the workforce, particularly in countries such as the US and Canada, would further drive the demand for smart toys. As working parents seek ways to provide both entertainment and educational experiences for their children, the market for smart toys is poised to continue its upward trajectory in North America.

Global Smart Toys Market Recent Development:

  • 2023: WowWee Group Limited Unveiled Dog-E, a one-of-a-kind robot dog, which has a multitude of customizable options, including colorful lights, sounds, and personality traits. This app-connected smart robot dog features lifelike movements, audio sensors for sound recognition, touch sensors on its head, nose, and body, and a tail with persistence of vision (POV) technology to display icons and messages for communication.
  • 2023: Pilot Laboratories, Inc. introduced the Scout E Robot, a versatile creation designed for children, adults, households, and businesses. This multifaceted robot is equipped with a high-definition FHD1080P video camera, a microphone, and speakers, which can traverse various environments. Notably, it offers a secure peer-to-peer connection, enabling users to access and control the robot remotely from anywhere across the globe.

Gain a Competitive Edge with Our Global Smart Toys Market Report

  • Global Smart Toys Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Smart Toys Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Smart Toys Market is expected to grow at a compound annual growth rate (CAGR) of around 15.4% from 2024 to 2030.

   A. Rising preference for educational learning toys among consumers is expected to drive the Smart Toys Market during 2024-30.

   A. The top players in the Smart Toys Market are TOSY Robotics, Wonder Workshop, Inc., Indiegogo, Inc., Sphero, Inc., MORAVIA Consulting Spol. s r.o., Innokind, Inc., Pillar Learning, WowWee Group Limited, Pilot Laboratories, Inc., Mattel Inc., MobilizAR Technologies Pvt. Ltd., Robo Wunderkind, Learning Resources Ltd., UBTECH ROBOTICS CORP LTD., and others.

   A. Educational applications held the largest share in the Smart Toys Market.

   A. North America would present growth prospects in the Smart Toys Market during 2024-30.

   A. The increasing demand for AI and IoT-enabled smart toys is the key trend shaping the growth of the Smart Toys Market.

Global Smart Toys Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Technology Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Smart Toys Market Trends & Developments
  5. Global Smart Toys Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Smart Toys Market Hotspot and Opportunities
  7. Global Smart Toys Market Regulations, Policies & Technology Standards
  8. Global Smart Toys Market Supply Chain Analysis
  9. Global Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Size & Analysis
      1. By Technology
        1. Wi-Fi- Market Size & Forecast 2019-2030, USD Million
        2. Bluetooth- Market Size & Forecast 2019-2030, USD Million
        3. Others (RFID, NFC, etc.)- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel
        1. Online- Market Size & Forecast 2019-2030, USD Million
        2. Stores- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group
        1. 2 to 5 Years- Market Size & Forecast 2019-2030, USD Million
        2. 6 to 8 Years- Market Size & Forecast 2019-2030, USD Million
        3. 9 to 12 Years- Market Size & Forecast 2019-2030, USD Million
        4. >12 Years- Market Size & Forecast 2019-2030, USD Million
      4. By Application
        1. Entertainment- Market Size & Forecast 2019-2030, USD Million
        2. Education- Market Size & Forecast 2019-2030, USD Million
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Competition
        1. Competition Characteristics
        2. Market Share & Analysis
  10. North America Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
    4. Canada Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    5. Mexico Smart Toys Market Outlook, 2019-2030F
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
  11. South America Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
  12. Europe Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
    3. Germany Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    4. The UK Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    5. France Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    6. Spain Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    7. Italy Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
  13. The Middle East & Africa Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of Middle East & Africa
    3. The UAE Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    4. Saudi Arabia Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    5. South Africa Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
  14. Asia-Pacific Smart Toys Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030, USD Million
      2. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
      3. By Age Group- Market Size & Forecast 2019-2030, USD Million
      4. By Application- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Rest of Asia Pacific
    3. China Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    4. Japan Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    5. India Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    6. South Korea Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
    7. Australia Smart Toys Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030, USD Million
        2. By Distribution Channel - Market Size & Forecast 2019-2030, USD Million
  15. Global Smart Toys Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles 
      1. TOSY Robotics
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Wonder Workshop, Inc
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Indiegogo, Inc.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Sphero, Inc.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. MORAVIA Consulting spol. s r.o.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Innokind, Inc.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Pillar Learning
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. WowWee Group Limited
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Pilot Laboratories, Inc.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Mattel Inc.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. MobilizAR Technologies Pvt Ltd.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Robo Wunderkind
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Learning Resources Ltd.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. UBTECH Robotics Corp LTD.
        1. Business Description
        2. Technology Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Others
  17. Disclaimer


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