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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Smart Toys Market Analysis by Region
The Asia Pacific region is expected to witness robust growth on account of the presence of key market players in the region like Tomy Company, Ltd. Companies investing hugely in 3D printing and AI sensing technology are expected to fuel the market growth of smart toys across the region. China is expected to aid the market growth of smart toys over the forecast period on account of the surging popularity of smart toys including voice/image recognition and app-enabled toys. Evolving digitalisation trends, along with the rising investment in the research and development department, are likely to propel the market growth of smart toys in the region.
The demand for smart toys market in North America is robust and growing. North America, particularly the United States and Canada, has high per capita incomes, which translates into greater consumer spending power. Families are more willing to invest in higher-priced educational and interactive toys for their children, which supports the growth of the smart toy market in the region.
Smart Toys Market Report Snapshots
Smart Toys Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 16.7% between 2024 and 2032.
In 2023, the market reached an approximate value of USD 13.77 billion.
The market is estimated to witness healthy growth during 2024-2032 to reach around USD 55.14 billion by 2032.
The major market driver is the surging demand for rapid advancement in technologies and the growing e-commerce industry.
The key trends include the increasing preference for educational learning toys and the rising disposable income.
The various products of smart toys include interactive games, robots, and educational toys (robots), among others.
The distribution channels of smart toys include online and offline.
The major players in the market are Mattel, Inc., Leapfrog Enterprises, Inc., TOMY Company, Ltd., Robofi Llc, Pillar Learning, and Particula, among others.
Internet-enabled toys are likely to employ AI to track, guide, and predict players to build new skills.
Educational toys can aid built problem-solving skills and teach about conflict resolution, along with how cause and effect work.
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