Global Connected Toys : Market Trends, Size, Growth, Opportunity and Forecast 2028
Bharat Book Bureau Provides the Trending Market Research Report on “Connected Toys Market by Application, Age Group, Interfacing Device, Distribution Channel, Technology and Region - Global Forecast to 2028”under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The Connected Toys Market size is projected to grow from USD 9.3 billion in 2023 to USD 24.1 billion by 2028, at a CAGR of 20.7% during the forecast period. Various key players in the ecosystem have led to a competitive and diverse market. The growing middle class, rising disposable incomes, a decrease in the number of children per family, and increased interest in premium toys with high quality. Also, the need to enhance children’s skills is one of the key factors driving demand for connected toys and children’s products. Connected toys provide interactive and engaging play experiences that stimulate a child's imagination, creativity, and cognitive development. It also often involves activities that develop fine motor skills, spatial awareness, and hand-eye coordination.
“By technology, Wi-Fi segment to account for a larger market size during the forecast period.”
The Wi-Fi segment in the connected toys market is driven by enhanced connectivity, access to cloud-based content, remote control, and monitoring, social play capabilities, firmware updates, data collection for personalization, easy setup and integration, seamless user experience, and future-proofing capabilities. Wi-Fi connectivity empowers connected toys with advanced features, personalized experiences, and seamless interactions, contributing to the increasing popularity and adoption of Wi-Fi-enabled connected toys among children and parents alike.
“By application, the Entertainment segment to grow at the highest CAGR during the forecast period.”
Connected toys find application in entertainment through interactive storytelling, virtual playgrounds, gaming experiences, music and dance, character interaction, collectible games, multiplayer play, creative expression, entertaining learning, and role-playing. The segment will drive the integration of AR and VR technologies, the appeal of licensed characters and brands, gamification elements, and a diverse app ecosystem.
“Asia Pacific to register the highest growth rate during the forecast period.”
Based on region Asia Pacific is expected to register the highest CAGR during the forecast period. The connected toys market in the Asia Pacific region is driven by factors such as rapid urbanization and rising disposable income, a growing tech-savvy population, improving digital infrastructure, the emphasis on education, expanding middle-class demographics, the popularity of licensed characters, parental convenience, and safety concerns, government support, rising awareness of child development, and competitive innovation.
Breakdown of primaries
The study contains various industry experts' insights, from solution vendors to Tier 1 companies.
The break-up of the primaries is as follows:
•By Company Type: Tier 1 – 18%, Tier 2 – 9%, and Tier 3 – 73%
•By Designation: C-level – 9%, D-level – 18%, and Others – 73%
•By Region: North America – 55%, Europe – 9%, Asia Pacific – 36%
The major players covered in the Connected Toys report Mattel (US), Hasbro (US), LEGO (Denmark), Sony (Japan), VTech (Hong Kong), UBTECH (China), DJI (China), iRobot (US), Sphero (US), Digital Dream Labs (US), Pillar Learning (US), Wonder Workshop (US), TOSY Robotics (Vietnam), Workinman Interactive (New York), WowWee Group (Hong Kong), KEYi Technology (China), Miko (India), Makeblock (China), Smart Teddy (US), Intelino (US), Fischertechnik (Germany), Potensic (China), Mainbot (France), ROYBI (US), and PlayShifu (India). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and enhancements, and acquisitions to expand their footprint in Connected Toys.
Research Coverage
The market study covers the Connected Toys market size across segments. It aims at estimating the market size and the growth potential across segments, including application, component, deployment, organization size, application, vertical, and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
•It comprehensively segments the connected toys market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
•It would help stakeholders understand the market’s pulse and provide information on the key market drivers, restraints, challenges, and opportunities.
•It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape includes a competitor ecosystem, new service developments, partnerships, and mergers and acquisitions.
The report provides insights on the following pointers:
Analysis of key drivers (Shift toward two-working-parent households giving rise to the need for monitoring and tracking toy devices, Inclination of children toward more interactive and self-engaging toys, Connected toys raising the issue for privacy concerns, restraints (connected toys raising the issue for privacy concerns) opportunities (increasing awareness of internet and technology, R&D spending on robots and toys) challenges (negative effects on children's cognitive development) influencing the growth of the connected toys. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in connected toys. Market Development: Comprehensive information about lucrative markets – the report analyses the connected toys market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the connected toys market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Mattel (US), Hasbro (US), LEGO (Denmark), Sony (Japan), VTech (Hong Kong), UBTECH (China), DJI (China), iRobot (US), Sphero (US), Digital Dream Labs (US), Pillar Learning (US), Wonder Workshop (US), TOSY Robotics (Vietnam), Workinman Interactive (New York), WowWee Group (Hong Kong), KEYi Technology (China), Miko (India), Makeblock (China), Smart Teddy (US), Intelino (US), Fischertechnik (Germany), Potensic (China), Mainbot (France), ROYBI (US), PlayShifu (India)
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