Smart Toys Market Overview
According to MRFR analysis, the global Smart Toys market is expected to register a CAGR of ~26% from 2022 to 2030 and hold a value of over USD 107.02 Million by 2030.
Children of all ages engage in interactive play while playing with smart toys that use artificial intelligence (AI) technology. Smart toys have several potential benefits, such as helping kids with different learning activities, playing, and developing creative ideas, and problem-solving abilities. Smart devices range from robotic companions to smart speakers that can recognize, communicate, and engage with kids. Smart toys go beyond the primary purpose of toys, which is to amuse children, and may offer many advantages to those kids who use them. Children can develop their social skills, for instance, by playing with smart toys that respond to their actions immediately. Additionally, children who interact with smart toys get the ability to think creatively and imaginatively while employing their imaginations, stimulating discovery, and learning skills necessary to survive in the modern digital world. Additionally, some smart toys provide education in the STEM fields of science, technology, engineering, and math as programming and the fundamentals of artificial intelligence, which widen and deepen children’s investigations. They also aid in the development of motor skills, which is particularly beneficial for kids with learning disabilities.
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Key Companies in the market include
- The LEGO Group
- Smartivity Labs
- Smart Kids Toys
- LeapFrog Enterprises Inc
- Funvention Learning Pvt. Ltd.
- Twin Science
- ROYBI Robot
- Fat Brain Toys
The smart toys market refers to the segment of the toy industry that produces toys equipped with advanced technology such as sensors, processors, and connectivity features that allow for interactive play and learning experiences. These toys can be controlled via mobile apps, voice commands, or touchscreens, and can provide children with new ways to engage with their toys and learn. The market for smart toys has been growing rapidly in recent years, with advancements in technology and increasing consumer demand for more interactive and engaging play experiences. The market is expected to continue to grow in the coming years, driven by factors such as the rising adoption of internet-connected devices, increasing disposable income, and the growing popularity of educational and STEM-based toys. Some of the key players in the smart toys market include companies such as Lego, Mattel, Hasbro, Sphero, and Anki, among others. These companies offer a range of products, from educational robots and coding toys to interactive stuffed animals and action figures. Overall, the smart toys market is a dynamic and evolving industry that offers exciting opportunities for both consumers and businesses.
Smart Toys Market Regional Analysis
Asia-Pacific is expected to have the fastest growth in the worldwide Smart Toys market for smart toys, primarily because of the region’s rapid digital transformation, expanding internet penetration, increased use of 5G & 4G LTE services, and other factors. The area is also one of the biggest consumers of consumer electronics, such as smartphones, tablets, and laptops, which raises expectations for the growing market for smart toys.
Smart Toys Market Segmentation
The global Smart Toys market has been segmented into Type, Technology, Application, and End-user.
Based on Type, the Smart Toys market has been segmented into Robots, Interactive Games, and Educational Robots.
Based on Technology, the Smart Toys market has been segmented into Wi-Fi, Bluetooth, RFID, or NFC.
Based on Application, the Smart Toys market has been segmented into Online/Ecommerce Stores, Specialty Stores, and Toy Shops.
Based on End-user, the Smart Toys market has been segmented into Toddlers, Preschoolers, School-going, and Stripling.
As per the type
- Educational robots
- Interactive games
As per the end-user
As per the technology
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Some of the key Smart Toys market players are Innokind Inc, Twin Science, APF France handicap (Leka Smart Toys), playshifu.com, Fat Brain Toys, LLC, ROYBI Robot, LuxAI, Funvention Learning Pvt. Ltd, DJI, Mattel, The LEGO Group, Smartivity Labs, and SEGA.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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