USD 7.60 billion
Report ID: SQMIG45I2110 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 64 | Figures: 76
Connected Toys Market size was valued at USD 7.60 billion in 2021 and is poised to grow from USD 9.45 billion in 2022 to USD 53.83 billion by 2030, growing at a CAGR of 24.3% in the forecast period (2023-2030).
The global connected toys market has experienced significant growth in recent years due to advancements in technology, increasing consumer demand for interactive and educational play experiences, and the proliferation of Internet of Things (IoT) devices. Connected toys are physical toys that are integrated with digital components, such as sensors, cameras, and wireless connectivity, enabling them to interact with apps, devices, and the internet. Factors driving the market's expansion include the rising trend of blended play, where physical and digital play are combined to offer enriched experiences, as well as the potential for enhanced learning and engagement for children. The ability of connected toys to provide personalized and interactive content, as well as real-time feedback and data collection, has garnered interest among parents and educators. The market encompasses a wide range of products, from interactive dolls and action figures to educational tablets and augmented reality-based playsets. Key players in the industry are continuously innovating to create compelling and safe connected toys while addressing concerns related to data privacy and security.
US Connected Toys Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.60 billion
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The global connected toys market is segmented on the basis of Interface, Age, Distribution channel and region. By Interface, the market is segmented into App-based connected drones, Console connected toys, Smartphone connected toys, Tablet connected toys. By Age, the market is segmented into 2-5 years, 6-8 years, 8-12 years, Teenagers, Adults. By Distribution channel, the market is segmented into Retailers, Online, Specialty stores. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Connected Toys Market Analysis By Interface
In the global connected toys market, the dominant segment is likely to be App-based connected drones. Drones have gained significant popularity due to their interactive and engaging nature, attracting both children and hobbyists. The ability to control drones through dedicated applications provides a seamless user experience, driving the dominance of this segment.
On the other hand, the fastest-growing segment could be Smartphone connected toys. Smartphones have become an integral part of modern life, and their compatibility with various connected toys enhances their appeal. These toys often leverage smartphone apps for control, communication, and additional features, contributing to their rapid growth in the market.
Connected Toys Market Analysis By Distribution channel
The online distribution channel has emerged as the dominant segment in the global connected toys market. The convenience of shopping from home, a wide range of product options, and the ability to compare prices easily have contributed to the strong growth of online sales. Major e-commerce platforms and online marketplaces have facilitated the accessibility and availability of connected toys to a global consumer base.
On the other hand, Specialty stores catering specifically to connected toys and tech-driven play experiences have been one of the fastest-growing distribution segments. These stores offer a unique and curated selection of connected toys, providing consumers with expert advice and immersive in-store experiences. As the demand for specialized and innovative toys increases, specialty stores are well-positioned to cater to niche markets and offer a hands-on shopping experience that complements the interactive nature of connected toys.
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The global connected toys market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The global connected toys market has experienced significant growth with North America emerging as the dominant region. North America's advanced technological infrastructure, high consumer disposable income, and strong presence of key market players have contributed to its dominance. The region's early adoption of IoT-based technologies and a tech-savvy population have driven the demand for connected toys.
Meanwhile, Asia-Pacific is the fastest-growing region in the connected toys market. Rapid urbanization, expanding middle-class population, and increasing smartphone penetration in countries like China, India, and Japan have fueled the growth of connected toys. Rising consumer awareness, changing lifestyles, and a growing emphasis on children's education and entertainment have created a burgeoning market for these interactive and digitally connected playthings. As a result, the Asia-Pacific region is witnessing substantial adoption and innovation in the connected toys sector, making it the fastest-growing market regionally.
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Connected Toys Market Drivers
Technological Advancements and Innovation:
Growing Emphasis on Edutainment:
Connected Toys Market Restraints
Privacy and Data Security Concerns:
High Costs and Accessibility Issues:
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The global connected toys market is characterized by intense competition and rapid technological advancements. Leading players such as Mattel, Hasbro, LEGO Group, and VTech dominate the market with their innovative offerings. These companies emphasize integrating smart technologies, IoT connectivity, and interactive features into traditional toy concepts. Collaborations with tech firms and software developers are common strategies to enhance product capabilities. Emerging players are also gaining prominence with their unique robotic and AI-powered toys. Start-ups focused on educational and STEAM-based connected toys contribute to market diversity. E-commerce giants like Amazon and Alibaba have entered the space, leveraging their platforms to promote and distribute connected toys. Regulatory concerns related to data privacy and child safety influence market dynamics. The competitive landscape is further intensified by ongoing patent filings and intellectual property battles. As consumer demand for interactive, educational, and immersive experiences grows, companies strive to differentiate through innovation, quality, safety, and seamless digital integration.
Connected Toys Market Top Player’s Company Profile
Connected Toys Market Recent Developments
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According to our global connected toys market analysis, the market has experienced remarkable growth due to the convergence of technology and play, offering interactive and educational experiences for children. Driven by advancements in IoT, AI, and mobile connectivity, connected toys have gained popularity as they provide interactive and immersive learning opportunities. These toys enable personalized experiences, real-time feedback, and remote connectivity, fostering engagement and skill development. The market is propelled by the increasing demand for innovative and tech-driven play experiences, with companies focusing on safety, data privacy, and content quality. However, concerns about data security, privacy, and screen time management have prompted regulatory scrutiny. The COVID-19 pandemic further accelerated the adoption of connected toys, as remote learning and entertainment gained significance. As the market evolves, collaboration between toy manufacturers, tech developers, and child development experts will be crucial to ensure both entertainment value and educational benefits, shaping the future of play.
|Market size value in 2021
|USD 7.60 billion
|Market size value in 2030
|USD 53.83 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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For the Global Connected Toys Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Connected Toys Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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