Global Smart Toys Market Size & Share Revenue Forecasted to Reach USD 59.74 Billion By 2032, at 16.5% CAGR: Polaris Market Research

[115+ pages Research Study] The global smart toys market is estimated at USD 59.74 billion by 2032. It will be worth USD 12.99 billion in 2022. This represents a compound annual growth rate of 16.5% between 2023 and 2032. Report includes profiles of top market companies with sales, revenues, and strategies. These include Mattel, Mattel and Lego Systems as well as Sega Toys. and Tomy Co., Doctor's Associates and Playmobil.

New York, NY. Jan. 19, 2023 (GLOBE NEWSWIRE). -- Polaris Market Research published a new report titled "Smart Toys Market Size, Trends and Industry Analysis Report, By Product Type [Interactive Games Robots and Educational Toys]); By Distribution Channel; By Technology. Segment Forecast, 2023-2032" in its research database.

According to the most recent research, the global Smart Toys market size and share will generate revenue of USD 59.574 billion by 2032. They are valued at USD 12.99 billion in 2022 at a compound annual rate (CAGR), of 16.5% between 2023 and 2032.

What are Smart Toys and how do they work? What is the Smart Toys Market Share & Size?

Summary of the Report

Smart Toys are making their way around the world to enhance and improve learning and critical thinking skills. The evolution of the toys in terms of shape, pattern, perspective, and electronic advancements is ideal for children to interact with. Smart toys often integrate cloud computing, artificial Intelligence (AI), or sensor-based technologies like the Internet of Things. Smart toys are loaded with machine intelligence and provide intelligent learning experiences for users.

The increase in middle-class families has led to a rise in smart toys sales. This is due to increased smartphone penetration and the growth in social media platforms. The market growth will be positively impacted by the rise in STEM toys that children can use to enhance their skills, such as coding and engineering through smart interaction, advanced behavioral learning, and other STEM toys.

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Introduction, overview, and detailed industry analysis are all included in the report

Data breakdown by type, regions, players, and applications

Market shares and competitive landscape of the top competitors

Research Report 110+ Pages

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Market presence in different regions, including share, size and trends

The latest list of figures and tables

This report focuses on the top players and their business strategies

Factors and fact-based research

These are some of the top companies:

LeapFrog Enterprises

Mattel

Hasbro

Lego Systems

Robofi LLC

Sega Toys.

Tomy Co.

Doctor's Associates

Playmobil

Pillar Learning

Dash Robotics

Bots Alive Robot Toys

Konami Corporation

Indiegogo

Jakks Pacific

Dream International

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Market Dynamics

Key Growth Factors

Market growth is driven by the increasing adoption of advanced technologies

The rapid increase in disposable income in developed countries, such as the US, UK and France, has been a key factor in the market's growth. This is mainly due to widespread adoption of technologies such as smart homes, augmented reality and connected mobile devices. Virtual reality technology encourages children to use their imaginations and think critically, and has fueled market growth. Customers are also compelled to buy technology-led toys due to increasing awareness via smartphones, tablets and social media platforms. This is expected to drive smart toys market growth.

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Recent Market Trends

Increased use of smartphones and online shopping platforms will drive the expansion of smart toys industry

Online sales have experienced significant growth due to the rapid development of digital media, and the increasing use of smartphones around the world, particularly in emerging economies such as India and China.

Online shopping platforms offer many advantages, including the ability to compare prices across multiple platforms and the possibility of having a wide range of brands available.

Segmental Analysis

The market was dominated by interactive games

The interactive games segment accounted for the largest share of smart toys in 2022, and will continue to grow over the forecast period. This segment is supported by a significant increase in smartphone penetration and an increase in edutainment. Interactive games can be used to learn letters and alphabets in preschool, which is a great way to expand your creative skills.

In 2022, a large market share was held by the offline segment

According to smart toys market segmentation by distribution channel, the offline category held a significant share of the market in 2022. This was due to the ease of inspecting the quality and working of toys in person and the availability of stores around the globe. Major market players are taking increasing initiatives to expand their market presence by opening new retail and specialty stores. This is a key factor in driving the segment's growth. The segment growth is also being driven by the increasing efforts of government to promote new and more effective learning methods and skill enhancement.

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Smart Toys Market Report Scope & Trends:

Report Attribute

More Details

The revenue forecast for 2032

USD 59.74 Billion

The market size in 2023

USD 15.10 Billion

CAGR Growth Expected

16.5% between 2023 and 2032

Base Year

2022

Forecast Year

2023 - 2032

Top Market Players

LeapFrog Enterprises Inc. Mattel Inc. Hasbro Inc. Lego Systems A/S Robofi LLC Sega Toys Co. Ltd. Tomy Co. Ltd. Doctor's Associates Inc. Playmobil, Pillar Learning Dash Robotics Bots Alive Robot Toys Konami Corporation, Indiegogo Inc. Jakks Pacific and Dream International

Segments covered

By Product Type, By Distribution Channel and By Technology, By Region

Customization Options

You can get customized purchase options to suit your research needs. Find out more about customized purchase options

A Geographic Overview

Smart market demand in Asia Pacific is expected to grow significantly

Geographically, Asia Pacific is expected to experience the fastest growth. This is due to the rapid growth of the middle-class population and rising consumer preference for smart educational toys. The region's industry growth is also boosted by the increasing efforts of market leaders to bring new toys to satisfy the growing consumer demand.

In 2022, North America accounted for the largest revenue share. This is due to a rise in smart home device adoption and the increase in consumer purchasing power in countries like the United States and Canada. Market growth is expected to be boosted by the increasing use of smart toys and devices on the internet and the presence of large companies that embrace innovative and advanced technologies.

View the Detail Report "Smart Toys Market Size, Trends and Industry Analysis Report", By Product Type (Interactive Games Robots and Educational Toys), By Distribution Channel; by Technology; By Region; Segment Outlook, 2023-2032" with detailed TOC: URL

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Recent Developments

Smart Toys and Games acquired The Happy Puzzle Company in July 2022. The company will expand its product range by bringing The Happy Puzzle Company's products to its portfolio and will distribute them through SMART’s exclusive global network.

Most Frequently Asked Questions

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What product or application will see the most development opportunities during the forecast period.

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Polaris Market Research segmented this report on smart toys based on product type and distribution channel.

Outlook by Product Type

Interactive Games

Robots

Educational Toys

By Distribution Channel Outlook

Online

Offline

By Technology Outlook

Wi-Fi

Bluetooth

RFID

Other

By Region Outlook

North America (U.S., Canada)

Europe (France and Germany, UK, Italy. Netherlands, Spain, Russia).

Asia Pacific (Japanese, China, India and Malaysia. South Korea

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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