Smart Toys Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The smart toys market share is expected to increase by USD 4.27 billion from 2021 to 2026, at a CAGR of 11.5%.

This smart toys market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The smart toys market report also offers information on several market vendors, including Activision Blizzard Inc., Digital Dream Labs, Genesis, geobra Brandstatter Stiftung and Co. KG, Hasbro Inc., Innovation First International Inc., LEGO System AS, Makeblock Co. Ltd., Mattel Inc., Miko, Ozobot and Evollve Inc., Primo Toys, Silverlit Toys Manufactory Ltd., Sony Group Corp., Sphero Inc., Spin Master Corp., Ubtech Robotics Inc., VTech Holdings Ltd., WowWee Group Ltd., and ZURU Inc. among others.

This report extensively covers smart toys market segmentation by the following:

• Technology - Wi-Fi, Bluetooth, and Others
• Distribution Channel - Offline and Online
• Geography - North America, Europe, APAC, Middle East and Africa, and South America

What will the Smart Toys Market Size be During the Forecast Period?

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Smart Toys Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The adoption of STEM toys for children's skills enhancement is notably driving the smart toys market growth, although factors such as high availability of substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart toys industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Toys Market Driver

One of the key factors driving growth in the smart toys market is the adoption of STEM toys for children's skills enhancement. Smart toys allow children to think critically and creatively about technology, thereby developing their analytical skills. With smart interaction and behavioral learning, these toys are expected to play an important role in developing professional skills among children such as coding, programming and even engineering. Vendors, schools, and parents can provide experiential, hands-on learning to students using STEM toys. STEM toys can be used to enhance the cognitive skills of students and can also be used to promote logic, collaboration, problem-solving, and creative skills among students. Parents are increasingly opting for smart construction kits, as they enhance the imaginative and the motor skill of individuals. In addition, the demand for modular kits that correspond to various STEM subjects is increasing in the market. Compared with traditional toys and games, smart toys are estimated to experience high sales. This is because more parents seek products that can aid the intellectual development of their children. This is expected to be a prominent factor driving the market during the forecast period.

Key Smart Toys Market Trend

The emergence of 3D printing is a smart toys market trend that is expected to have a positive impact in the coming years. With the introduction of 3D printers, the power of choice has shifted toward consumers. This is a challenge faced by manufacturers and license providers today, as consumers can 3D print their favorite characters and complex shape and size of smart toys any time they want. There is also an inherent risk that this technology will increase the market for collectible counterfeits and violate copyright and trademark infringements. 3D printers are likely to become affordable in the coming years. Licensors are trying to protect their products and figuring out methods to legitimize do-it-yourself (DIY) merchandise and derive revenue from it. Many licensors such as Hasbro are offering licenses to 3D printing companies by providing access to specific assets and distinguishing them from other licensed merchandise available in the market. Many market players are introducing 3D printing tools for building and modifying toys at home. Such innovations in 3D printing are expected to propel the growth of the market in focus during the forecast period.

Key Smart Toys Market Challenge

The high availability of substitutes will be a major challenge for the smart toys market during the forecast period. Smart toys have many substitutes, such as traditional toys and video games. One of the key challenges that smart toys face is their premium prices. As they are costlier than traditional toys, price-sensitive consumers may consider smart toys unnecessary and overpriced luxury commodities, especially in underdeveloped economies where people have low purchasing potential. Apart from traditional toys, video games are gaining popularity across the world, and the awareness of esports is growing exponentially in today's connected world. The popularity of video games is expected to grow continuously during the forecast period as video games are increasingly replacing traditional toys and games. Furthermore, due to extensive product development by video games consoles providers, the demand for video games is on the rise. Thus, the increasing popularity of video games is expected to restrain the growth of the global smart toys market.

This smart toys market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart toys market as a part of the global leisure products industry. Our research report has extensively covered external factors influencing the parent market growth  Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart toys market during the forecast period.

Who are the Major Smart Toys Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Activision Blizzard Inc.
• Digital Dream Labs
• Genesis
• geobra Brandstatter Stiftung and Co. KG
• Hasbro Inc.
• Innovation First International Inc.
• LEGO System AS
• Makeblock Co. Ltd.
• Mattel Inc.
• Miko
• Ozobot and Evollve Inc.
• Primo Toys
• Silverlit Toys Manufactory Ltd.
• Sony Group Corp.
• Sphero Inc.
• Spin Master Corp.
• Ubtech Robotics Inc.
• VTech Holdings Ltd.
• WowWee Group Ltd.
• ZURU Inc.

 

This statistical study of the smart toys market encompasses successful business strategies deployed by the key vendors. The smart toys market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Activision Blizzard Inc - Activision Blizzard Inc. is a public company that is headquartered in US. It is a global company that generated a revenue of $7,500.00 million and had around 9,900 employees. Its revenue from the global smart toys market contributes to its overall revenues, along with its other offerings, but is not a key revenue stream for the company.
• Activision Blizzard Inc.- In October 2019, the company released the Call of Duty: Mobile game.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart toys market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Toys Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart toys market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Smart Toys Market?

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32% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for smart toys in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and North American regions.

The rapid technology penetration and evolved consumer demand will facilitate the smart toys market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hindered the growth of the regional smart toys market in 2020. As of April 20, 2022, about 0.98 million deaths occurred in the US due to COVID-19. The lockdowns implemented by governments across several states in the US and Canada adversely impacted the logistics and supply chain and slowed down economic growth in the region. However, in 2021, the initiation of large-scale COVID-19 vaccination drives led to a decrease in the number of COVID-19 cases and the lifting of lockdown restrictions in the region. This resulted in the resumption of transportation and manufacturing operations of smart toys.

What are the Revenue-generating Technology Segments in the Smart Toys Market?

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The smart toys market share growth by the Wi-Fi segment will be significant during the forecast period. Wi-Fi provides a high-speed data network within a small area such as a room, building, or small geographical segment on a big campus. Wi-Fi provides a significantly large and seamless range of operation when compared with Bluetooth or NFC, thereby becoming more popular. Wi-Fi transmits data at a much faster speed compared with Bluetooth. Hence, it is ideal for larger files and data. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart toys market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in :

Educational Toys- The market share is expected to increase by USD 28.40 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 14.25%.

Online Toys and Games Retailing- The market share is expected to increase by USD 16.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.39%. 

Toys and Games - The market share is expected to increase by USD 50.73 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.70%.

Smart Toys Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 11.5%
Market growth 2022-2026	$ 4.27 billion
Market structure	Fragmented
YoY growth (%)	14.47
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	APAC at 32%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Activision Blizzard Inc., Digital Dream Labs, Genesis, geobra Brandstatter Stiftung and Co. KG, Hasbro Inc., Innovation First International Inc., LEGO System AS, Makeblock Co. Ltd., Mattel Inc., Miko, Ozobot and Evollve Inc., Primo Toys, Silverlit Toys Manufactory Ltd., Sony Group Corp., Sphero Inc., Spin Master Corp., Ubtech Robotics Inc., VTech Holdings Ltd., WowWee Group Ltd., and ZURU Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Toys Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive smart toys market growth during the next five years
• Precise estimation of the smart toys market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart toys industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart toys market vendors

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