Global Smart Toys Market Report and Forecast 2024-2032

Global Smart toys Market Size

The global smart toys market value reached approximately USD 13.77 billion in 2023. The market is projected to grow at a CAGR of 16.7% between 2024 and 2032, reaching a value of around USD 55.14 billion by 2032.

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Global Smart Toys Market Growth

The increasing emphasis on software updates and the adoption of AI security measures are expected to propel the smart toys market's expansion in the years ahead. This trend is bolstered by rigorous safety standards and regulatory mandates enforced by governments globally. Furthermore, the global expansion of companies investing in digital technologies is likely to further catalyse smart toys market growth.

Global Smart Toys Market Analysis

Smart toys integrated with educational content are designed to teach concepts in mathematics, science, language learning, and more, often aligned with school curriculums. This makes playtime more productive and supports academic growth outside of the classroom, boosting the demand of smart toys market.

Market players in the educational toys market are launching educational and innovative learning toys for children. LeapFrog® Enterprises, Inc., launched new additions to its toy lines for infants and preschoolers in November 2023. These new products aim to enhance the learning experience for young children by integrating educational content with engaging play.

Global Smart Toys Industry Outlook

According to the World Bank, the global population within the age group of 0-14 years was estimated to be 2.01 billion in 2023.

As per the Eurostat, China dominated the supply of toys to the EU in 2021, commanding an impressive 83% share of toy imports, significantly ahead of Vietnam (4%) and the United Kingdom (2%) boosting the smart toys industry revenue.

Germany was the largest recipient of these imports within the EU, receiving around one-fifth (19%) of all toy imports, followed closely by the Netherlands (17%) and France (11%). Outside the EU, the United Kingdom emerged as the primary destination for EU toy exports, absorbing 27% of total exports, followed by Switzerland (12%) and the United States (11%). Czechia led in toy production within the EU, contributing 34% of total exports, followed by Germany (21%) and Belgium (7%).

Moreover, according to industry research, the Indian market for toys, games, and sports articles has shown significant shifts in imports and exports over recent years. Between 2014-15 and 2022-23, Indian exports in this category surged by 239%, indicating growing competitiveness and growth of the smart toys market.

The smart toys market dynamics and trends are being boosted due to the growing export of toys from the UAE to India saw a remarkable increase from USD 7.7 million in 2022 to USD 69 million by Q3 2023, attributed to strengthened bilateral trade relations between the two countries.

The smart toys market opportunities are increasing due to the rapid progress in AI, IoT, and robotics, enabling interactive and personalized play experiences.

• Increasing emphasis on educational content and STEM learning enhances smart toys' appeal to parents focused on children's development.

• Leading companies like Mattel and LeapFrog offer diverse smart toy ranges, catering to different demographics and interests, broadening market appeal.

Integrating AI and IoT technologies raises production costs, potentially limiting accessibility for certain consumer segments.

• Issues around data collection by smart toys raise privacy concerns, prompting regulatory scrutiny and consumer apprehension about data security.

• Smart toys depend heavily on consistent internet access and software updates, posing challenges in areas with unreliable infrastructure.

Untapped potential in developing regions presents opportunities for smart toy manufacturers to expand their global presence and drive the overall smart toys industry revenue.

• Continued advancements in design, such as augmented reality integration, enhance the attractiveness and marketability of smart toys.

• Partnerships with schools and educational institutions to integrate smart toys into learning programs can drive adoption and market growth.

Intense competition among global giants like TOMY and RoboFi for market dominance and innovation leadership poses a threat to profitability and market share.

• Strict regulations on data privacy and safety standards could delay product launches and increase compliance costs for smart toy manufacturers.

• Global economic fluctuations and shifts in consumer spending behaviours may impact discretionary spending on high-tech toys, potentially hindering market expansion.

Market Competition in the Global Smart Toys Market

As per the smart toy market analysis, the sector is highly competitive, with major players such as Mattel, LeapFrog, TOMY, RoboFi, Pillar Learning, and Particula leading the way in innovation through advanced technologies and strategic collaborations.

Key Players in the Global Smart Toys Market and Their Strategic Initiatives

Mattel, Inc.:

• Innovating traditional toy lines by integrating smart technology.

• Collaborating with educational institutions to develop STEM-focused toys.

• To meet the smart toys market demand, the company invested in AI and IoT to improve toy interactivity and educational value.

LeapFrog Enterprises, Inc.:

• Creating educational content and personalised learning tools.

• Enhancing interactive features in smart toys designed for children.

• Strengthening brand presence through partnerships in the educational sector.

TOMY Company, Ltd:

• Expanding its range of smart toys with culturally relevant products.

• Incorporating advanced AI and IoT capabilities into its toy lineup.

• Partnering with technology firms to innovate and develop cutting-edge toys.

RoboFi LLC:

• Specialising in robotics and AI-driven smart toys.

• Improving programmability and customisation features.

• Collaborating with technology innovators to integrate advanced AI into its products.

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Global Smart Toys Industry Segmentation

“Global Smart Toys Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Interactive Games

• Robots

• Educational Toys (Robot)

• Others

Market Breakup by Distribution Channels

• Offline

• Online

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Smart Toys Market Share

Robots are boosting the growth of the smart toys industry by combining educational and entertainment elements. These toys frequently incorporate advanced functionalities like voice recognition, motion sensors, and interactive capabilities, offering children engaging experiences that merge learning with play. Educational robots are especially appreciated for their integration of STEM principles, imparting crucial skills such as programming, logical thinking, and problem-solving.

The offline segment of the smart toys market is experiencing notable global growth due to consumer preferences for physical product examination and personalized experiences. Simultaneously, the online segment is projected to expand significantly, driven by the rapid growth of e-commerce thus boosting the demand of the smart toys market.

Leading Companies in the Smart Toys Market

The company specialises in early childhood education and developmental tools, known for its innovative application of technology in learning, particularly for young children. Their primary product is an AI-powered system designed to evaluate and improve children's language skills.

• Mattel, Inc. 

• LeapFrog Enterprises, Inc. 

• TOMY Company, Ltd. 

• RoboFi LLC 

• Pillar Learning 

• Particula

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Smart Toys Market Report Snapshots

Smart Toys Market Size

Smart Toys Market Growth

Smart Toys Market Trends

Smart Toys Market Share

Smart Toys Manufacturers

Smart Toys Market Regional Analysis