Smart Toys Market Size- By Type, By Technology, By Distribution Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Smart Toys Market Overview

According to SPER Market Research, the Global Smart Toys Market is estimated to reach USD 64.84 billion by 2032 with a CAGR of 16.75%.

A smart toy is an interactive toy that, thanks to on-board electronics, effectively possesses its own intelligence. They give it the ability to pick up new information, act in predetermined pattern, and adjust its behaviour in response to outside stimuli and user interaction. It can generally adjust to the player's abilities. Electronics in a contemporary smart toy include one or more microprocessors or microcontrollers, storage devices, volatile and/or non-volatile memory, and other types of input-output devices. In order to improve its play value or instructional capabilities, it may be networked with other smart toys or a computer. Typically, a smart toy can be controlled by firmware-embedded software or software that is loaded via an input device, like a USB flash drive.

These toys provide children a customized play experience with to embedded software that supports speech and image recognition, app integration, RFID technology, and web searching. As an illustration, CogniToys' Dino uses Wi-Fi to stay connected and IBM Watson's natural language processing technology to customize its responses based on the child's age group and skill level. The three main categories of smart toys are educational robots, interactive games, and robots. A form of toy having motors that can communicate intelligently with their surroundings is referred to as a smart robotic toy. The educational opportunities that the robotic toy gives are highly beneficial for kids to use. A robot toy is essentially a mechanism that can be created to perform various functions without the assistance of a human, and many even exhibit distinct personalities.

One of the main factors boosting the demand for the market for smart toys is the adoption of STEM (Science, Technology, Engineering, and Math) toys for children's skill development. Professional skills like computing and engineering are improved via smart interaction and behavioural learning in smart toys. The popularity of smart toys will increase as parents continue to choose things that can aid in their kids' intellectual growth. Businesses like SmartGurlz Toy help ladies learn how to code.

Impact of COVID-19 on the Global Smart Toys Market

The retail industry's supply chain has suffered greatly as a result of the COVID-19 epidemic. On the market for smart toys, the COVID-19 epidemic has a big impact. The COVID-19 pandemic has affected the toy industry by increasing the number of sufferers and disrupting the supply chain. A further factor that affected the market for smart toys in the early stages of the epidemic was labour constraints. Due to social media platforms' support and the influence of the media and TV industries during the epidemic, the sector's growth was boosted.

Severe lockdowns have been imposed across the globe as a result of the COVID-19 outbreak. As a safety precaution, the imposed lockdown has increased work-from-home activities and closed down schools and other educational institutions. During Pandemic billions students worldwide would not be able to attend school, according to the most recent statistics provided by UNESCO. Around the world, a lot of schools, colleges, and universities are closed. These developments have enhanced the likelihood that smart toys will be adopted globally as they support remote learning strategies and give kids engaging, immersive experiences.

Scope of the Report

Report Metric Details:

Market size available for years 2019-2032

Base year considered 2021

Forecast period 2022-2032

Segments covered By Type, By Technology, By Distribution Channel, By End User

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered Doctor's Associates Inc, Dream International Ltd, Fisher Playments Toys Inc, Hasbro Inc, Konami Corporation, Leapfrog Enterprises, Lego Systems A/S, Leka Smart Toys, Pillar Learning, Playmobil, Robofi LLC, ROYBI Robot, Sanrio Company Ltd, Sega Toys Co Ltd, Tomy Company

Global Smart Toys Market Segmentation:

By Type: Based on the Type, Global Smart Toys Market is segmented as; App-enabled Mechanical Toys, Health-Tracking Toys or Wearable, Puzzle and Building Games, Screenless Toys, Toys-to-Life, Voice or Mechanical Toys.

By Distribution Channel: Based on the Distribution Channel, Global Smart Toys Market is segmented as; E-Commerce or Online Store, Offline Stores, Speciality Stores, Toys Shops.

By End User: Based on the End User, Global Smart Toys Market is segmented as; Pre-Schoolers, School-Going, Stripling, Toddlers.

By Region: This report also provide the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.