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We expect the global smart toys market to exhibit a CAGR of 16.97% during 2022-2027.
The rising parental concerns toward the development of motor skills, spatial reasoning, cognitive flexibility, etc., in their kids, along with the growing popularity of IoT-based smart toys, that integrate learning and entertainment, are primarily driving the global smart toys market.
The sudden outbreak of the COVID-19 pandemic had led to the increasing adoption of smart toys, such as educational robots for storytelling and play-to-learn interactive tablet toys for delivering superior gaming and learning experience, particularly during the temporary closure of numerous schools.
Based on the product, the global smart toys market can be segmented into robots, interactive games, and educational toys. Currently, interactive games hold the majority of the total market share.
Based on the technology, the global smart toys market has been divided into Wi-Fi, Bluetooth, and others, where Bluetooth currently exhibits a clear dominance in the market.
Based on the interfacing device, the global smart toys market can be categorized into smartphone connected, tablet-connected, and others. Currently, smartphone connected accounts for the majority of the global market share.
Based on the distribution channel, the global smart toys market has been segregated into supermarkets and hypermarkets, online stores, specialty stores, and others. Among these, online stores currently hold the largest market share.
Based on the end user, the global smart toys market can be bifurcated into toddlers, pre-schoolers, school-going, and stripling. Currently, toddlers exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global smart toys market include fischertechnik GmbH, Kreyonic Inc., LeapFrog Enterprises Inc. (VTech Holdings Limited), Mattel Inc., Pillar Learning, PlayShifu, Primo Toys, ROYBI Robot, The Lego Group, and WowWee Group Limited.
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