The global connected toys market was assessed to progress from $ 5.7 billion in 2019 to $ 13.8 billion in 2025, at an annual growth rate (CAGR) of 19.3% over the predicted period.
Connected toys are Internet-enabled devices that use the Wi-Fi, Bluetooth, or other built-in features to function. These toys offer a personalized experience for children with the aid of integrated software, along with voice recognition and web search. Connected toys mainly consist of a microphone and a speaker, and an application to process data.
The surging adoption of educational toys among children is likely to fuel the growth of the global connected toy market. Parents are looking for products that can help the intellectual development of their children, which in turn increases the need for such toys. For example, CogniToys' Dino uses Wi-Fi to stay connected and IBM Watson's natural language processing technology to tailor responses to the age and ability of a child, which further teaches children to spell words.
Recent DEVELOPMENTS:
Market growth and trends:
Smartphone Connected Toys are Expected to Witness Significant Growth
Market Drivers and Restraints:
The main drivers of global connected toys market growth include the surge in the adoption of science, technology, engineering and math (STEM) toys and the widespread and easy availability of connected platforms.
The connected toys market has seen a rising call for smartphone compatible toys. Children spend more time on smartphones and other devices, compared to the time they spend with their parents. This has led manufacturers to invest in smartphone toys, which take advantage of the capabilities of connected devices. These innovations are expected to stimulate the market during the forecast period.
On the other hand, children are vulnerable customers because they don't understand how these toys work and the risks they pose. To overcome these security problems, regulations play an essential role in the production of safe products. For example, the general data protection regulation (Europe) extends to connected toys to increase citizens' control over personal data, thereby creating a positive impact on the confidentiality of data on these toys.
Market segmentation:
By interacting device
By age group
Regional Analysis:
North America is expected to have the largest market size during the calculated period, owing to the early adoption and innovative initiatives for connected toys, such as Artificial Intelligence (AI), machine learning (ML), and speech recognition. Factors driving growth in connected toys in the North America region are high funding possibilities, large clientele, an environment conducive to innovation, and the availability of a highly skilled workforce.
Impact of Covid-19 on the Global Connected Toys Market:
The pandemic of Covid-19 has brought an adverse effect on almost all sectors across the globe. Connected toys are among those sectors that witnessed huge decline in sales in the second quarter of 2020. The growing concern among consumers to stay safe has made stick to homes and avoiding places like physical retail stores. However, the sales through online channel are supposed to record an increment in the coming years.
Key players in the market:
The main suppliers to the world market for connected toys are Mattel, Hasbro, LEGO Group (Denmark), Sphero (United States), Sony (Japan), PLAYMOBIL (Germany), BANDAI NAMCO (Japan), K'NEX (United States), Konami (Japan), Wonder Workshop (United States), PlayFusion (United Kingdom), Anki (United States), WowWee (Hong Kong), DXTR Labs (Denmark), and Leka (France).
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Connected Toys Market, By Interacting Device
6.1.1 Smartphone-Connected Toys
6.1.2 App-Connected Drones
6.1.3 Console-Connected Toys
6.1.4 Tablet-Connected Toys
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Connected Toys Market, By Age Group
6.2.1 2-5 Years
6.2.2 6-8 Years
6.2.3 9-12 Years
6.2.4 Teenages
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Interacting Device
7.2.3 By Age Group
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Interacting Device
7.3.3 By Age Group
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Interacting Device
7.4.3 By Age Group
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Interacting Device
7.5.3 By Age Group
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Interacting Device
7.6.3 By Age Group
8. Key Player Analysis
8.1 Mattel
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Hasbro
8.3 LEGO Group
8.4 Sphero
8.5 Sony
8.6 PLAYMOBIL
8.7 Konami
8.8 Wonder Workshop
8.9 PlayFusion
8.10 AnKi
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures