Smart Toys Market Overview:
The Smart Toys industry is projected to grow
from USD 21.55 Billion in 2022 to USD 107.61 Billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 24.71% during the forecast period
(2022-2030).
Children of all ages engage in interactive play
while playing with smart toys that use artificial intelligence (AI) technology.
Smart toys have several potential benefits, such as helping kids with different
learning activities, playing, and developing creative ideas, and
problem-solving abilities. Smart devices range from robotic companions to smart
speakers that can recognize, communicate, and engage with kids.
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Key Players:
Key Companies in the market
include,
- Mattel
- The LEGO Group
- Smartivity Labs
- Smart Kids Toys
- LeapFrog Enterprises Inc
- SEGA
Smart toys go beyond the primary purpose of toys,
which is to amuse children, and may offer many advantages to those kids who use
them. Children can develop their social skills, for instance, by playing with
smart toys that respond to their actions immediately. Additionally, children
who interact with smart toys get the ability to think creatively and
imaginatively while employing their imaginations, stimulating discovery, and
learning skills necessary to survive in the modern digital world. Additionally,
some smart toys provide education in the STEM fields of science, technology,
engineering, and math as programming and the fundamentals of artificial
intelligence, which widen and deepen children's investigations. They also aid in
the development of motor skills, which is particularly beneficial for kids with
learning disabilities.
Market Segmentation:
The global Smart Toys market has been segmented
into Type, Technology, Application, and End-user.
Based on Type, the Smart Toys market has been
segmented into Robots, Interactive Games, and Educational Robots.
Based on Technology, the Smart Toys market has been
segmented into Wi-Fi, Bluetooth, RFID, or NFC.
Based on Application, the Smart Toys market has
been segmented into Online/Ecommerce Stores, Specialty Stores, and Toy Shops.
Based on End-user, the Smart Toys market has been
segmented into Toddlers, Preschoolers, School-going, and Stripling.
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Regional Analysis:
Asia-Pacific is expected to have the fastest growth
in the worldwide Smart Toys market for smart toys, primarily because of the
region's rapid digital transformation, expanding internet penetration,
increased use of 5G & 4G LTE services, and other factors. The area is also
one of the biggest consumers of consumer electronics, such as smartphones,
tablets, and laptops, which raises expectations for the growing market for
smart toys.
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