Connected Toys Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4119
Connected Toys Market size is slated to witness rapid growth and transformation over 2021-2027, with the growing adoption of IoT and connected devices. Globally, both parents and children are demanding innovative technologies that combine education with playtime. The vast majority of parents are preferring connected toys as they allow them to monitor their children at all times.
The growth of the connected toys industry will be further amplified by the increased adoption of science, technology, engineering, and mathematics (STEM) toys across the world. Advances in the application programming interface (API) for connected toys is making them more interactive and fun. The widespread adoption of handheld devices such as smartphones and tablets combined with the increasing number of internet users will certainly bolster the connected toys market outlook.
Connected toys typically include a speaker, a microphone, and an application to process the data. Most commonly, these toys are internet enabled devices with Bluetooth, Wi-Fi, or other connectivity features built in. Connected toys collect data and store it in a database outside of the product, providing users a more personalized experience. Features such as direct communication, real-time tracking of the activities of children, and a personalized experience will continue to drive the popularity of connected toys in the future.
Considering the mode of interface, the market for tablet connected toys is likely to experience robust growth through 2027. This growth is attributable to the rising adoption of tablets and the rising number of internet users across the globe. Over the past few years, the use of tablets among children and young adults for gaming, education, and other purposes has jumped. The introduction of new connected toys that are compatible with tablets will drive the segment growth.
Europe connected toys market revenue could grow substantially between 2021 and 2027 due to early adoption of and ongoing developments in AI, machine learning, and voice and speech recognition technologies. The growing adoption of handheld devices among kids to have a fun and interactive learning session is also a major factor behind this expansion. The regional connected toy developers, however, will have to comply with the latest industry standards in the region.
In the U.K., for example, the Information Commissioner Office’s (ICO) Age-Appropriate Design Code is expected to come into effect in September 2021. According to the ICO, one in five internet users in the country are under 18 years old. The code applies to applications, programs, connected toys and devices, online games, streaming services, social media platforms, and other services accessed by children which process personal data.
Globally, Lego Group, Nintendo Co., Ltd., Fisher-Price, Inc., Hasbro, Inc., Mattel Inc., Tomy Company, Ltd., VTech Electronics North America, LLC., Jabil Inc., Melissa & Doug, Little Tikes, Tru Kids, Inc., LeapFrog Enterprises, Inc., Kids II Inc., K'NEX Industries Inc., and Sphero Inc. are among the leading connected toys market players. New, more improved and technologically advanced toys for children are constantly entering the market as these companies focus on capitalizing on their growing popularity.
Promising opportunities amid COVID-19 lockdown restrictions
The connected toys market is witnessing tremendous opportunities due to the COVID-19 pandemic, with the closure of schools and educational institutes worldwide. As a way to promote fun and interactive learning at home, a large number of parents have been relying on digital tools. Consequently, the utilization of smartphones and tablets for learning has increased considerably. The adoption of toys that combine learning with a fun experience, like drones or tablet connected toys, will continue to grow in the future.
The connected toys market report is segmented as:
Market, By Interface
- App-based connected drones
- Console connected toys
- Smartphone connected toys
- Tablet connected toys
Market, By Age
- 2-5 years
- 6-8 years
- 8-12 years
Market, By Distribution Channel
- Specialty stores
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability