Global Smart toys Market Is Likely To Grow At A CAGR Value Of Around 17.9% By 2028

The global smart toys market was worth around USD 12,525.1 million in 2021 and is estimated to grow to about USD 33640.6 million by 2028, with a compound annual growth rate (CAGR) of approximately 17.9 percent over the forecast period. The report analyzes the smart toys market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart toys market.

Smart toys have gained massive popularity in recent years and this trend is expected to further the demand for smart toys over the forecast period as well. Increasing technological proliferation and the rising popularity of smart technologies are expected to bolster smart toys market growth over the forecast period. Digitization also plays a key role in the smart toys marketplace.

Smart toys will see a rapid increase in adoption as smart technology trends pick up pace across the world. Increasing internet penetration, rising use of advanced technologies, increasing use of smart toys in remote learning, and increasing focus on interactive learning are other trends that will guide the smart toys market potential over the forecast period. 

The remote learning trend has gained massive popularity over the past few years and this trend is expected to majorly influence the demand for smart toys. The smart toys companies are focusing on creating new products that will be compliant with the changing demands of the education industry and will be aiming to increase sales revenue. The smart toys companies are also anticipated to adopt multiple strategies to boost their revenue generation potential over the forecast period.

The pandemic of 2020 led to the downfall of the smart toys market owing to multiple constraining factors that were prevalent under the pandemic restrictions. Lockdowns were imposed to contain the spread of infections and this had a major negative impact on the global smart toys market. Closure of distribution and production facilities on a global scale were other factors that further hindered the smart toys market potential in the COVID-19 pandemic.

As restrictions are lifted from the world and it returns to normal, the smart toys market is expected to make a speedy recovery. Increasing demand for smart toys is expected to be driven by the rising popularity of remote learning that was propelled by the emergence of the COVID-19 pandemic. Increasing digitization and the use of smart technologies are also expected to boost the smart toys market growth in the coming years.

The global smart toys market is segregated based on interfacing device, product type, price, age group, technology, distribution channel, and region. Based on distribution channel, the smart toys market is segmented into Online, E-commerce Websites, Company Owned Websites, Offline, Hypermarket and Supermarkets, Specialty Stores, and Other Retail Based Stores. The offline stores segments are expected to lead the global smart toys market through 2028. However, the increasing popularity of e-commerce trends is anticipated to boost sales via online channels over the forecast period.

North America region is expected to hold a dominant outlook in the global smart toys industry landscape owing to the increasing spending potential of the general population. Other factors such as rapid adoption of novel technologies, increasing internet penetration, the rising popularity of smart technologies, and increasing per capita disposable income are anticipated to be other trends that will influence the smart toys market potential. The most prominent markets in this region are expected to be the United States and Canada over the forecast period.

Key players functioning in the global smart toys market include Mattel (US), Hasbro (US), LEGO Group (Denmark), Sphero (US), Sony (Japan), PLAYMOBIL (Germany), BANDAI NAMCO (Japan), K'NEX (US), Konami (Japan), Wonder Workshop (US), PlayFusion (UK), Anki (US), WowWee (Hong Kong), DXTR Labs (Denmark), and Leka (France)

Recent developments:

• In May 2021, Gameloft a leading gaming company partnered with Kinder and Oxford University to launch a new app that is aimed at bringing kinder joy toys to life with the use of augmented reality. This application will promote creativity and new opportunities for kids to explore the toys.

Browse the full “Smart toys Market By Interfacing device (Smartphone Connected Toys, Tablet-Connected Toys, Console-Connected Toys), By Product Type (App-enabled Toys, Voice/Image Recognition Toys, Screen Less Toys, Toys-to-Life, Health Tracking Toys, Others (Wearable, Puzzle Toys, etc.)), By Age Group (Up to Age of 5, Age of 6 to Age of 8, Age of 8 to Age of 12, Age of 13 to Age of 18, Above Age of 18), By Price (Low, Medium, High), By Technology (Technology, Wi-Fi, Bluetooth, Others (RFID, NFC, etc.)), By Distribution Channel (Online, E-commerce Websites, Company Owned Websites, Offline, Hypermarket and Supermarkets, Specialty Stores, Other Retail Based Stores), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/smart-toys-market

Global smart toys market is segmented as follows:

By Interfacing device

• Smartphone Connected Toys
• Tablet-Connected Toys
• Console-Connected Toys

By Product Type

• App-enabled Toys
• Voice/Image Recognition Toys
• Screen Less Toys
• Toys-to-Life
• Health Tracking Toys
• Others (Wearable, Puzzle Toys, etc.)

By age group

• Up to Age of 5
• Age of 6 to Age of 8
• Age of 8 to Age of 12
• Age of 13 to Age of 18
• Above Age of 18

By Price

• Low
• Medium
• High

By technology

• Wi-Fi
• Bluetooth
• Others (RFID, NFC, etc.)

By Distribution Channel

• Online
• E-commerce Websites
• Company Owned Websites
• Offline
• Hypermarket and Supermarkets
• Specialty Stores
• Other Retail Based Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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