According to the research report, the global connected toys market was valued at USD 8.55 billion in 2022 and is expected to reach USD 65.22 billion by 2032, to grow at a CAGR of 22.6% during the forecast period.

Market Growth Drivers

Several factors are contributing to the robust growth of the connected toys market:

1. Technological Advancements: The integration of technologies such as the Internet of Things (IoT), artificial intelligence (AI), and augmented reality (AR) into toys has enhanced their interactivity and educational value. These advancements allow toys to respond to children's actions, adapt to their learning pace, and provide personalized experiences.
2. Rising Demand for Educational Content: Parents and educators are placing greater emphasis on toys that offer educational benefits. Connected toys that teach coding, language skills, problem-solving, and STEM concepts are gaining popularity as they align with modern educational goals.
3. Increased Smartphone and Tablet Penetration: The widespread use of smartphones and tablets among children has facilitated the adoption of app-connected toys. These devices serve as interfaces for controlling and interacting with toys, expanding the possibilities for play and learning.
4. Enhanced Safety and Monitoring Features: Connected toys often come equipped with safety features such as geolocation tracking, parental controls, and real-time monitoring, providing peace of mind to parents concerned about their children's safety during play.
5. Growing Middle-Class Population: The expanding middle-class population in emerging markets, coupled with increased disposable incomes, is driving the demand for premium and technologically advanced toys, including connected toys.

Key Trends

Several key trends are shaping the connected toys market:

1. Screen-Free Play Options: There is a growing demand for toys that offer interactive experiences without the need for screens. Products like Yoto, a screen-free audio entertainment system for children, have gained popularity by providing engaging content through collectible cards and a parent-monitored app The Australian.
2. Subscription-Based Models: Some connected toy companies are adopting subscription-based models, offering regular content updates and new features to keep children engaged and learning over time.
3. Focus on Sustainability: Manufacturers are increasingly focusing on creating eco-friendly connected toys by using sustainable materials and energy-efficient technologies, aligning with the growing consumer preference for environmentally responsible products.
4. Integration with Smart Home Ecosystems: Connected toys are being designed to integrate seamlessly with smart home ecosystems, allowing for voice control and interaction through devices like smart speakers.
5. Rise of "Kidults": Adults, particularly those aged 18 and above, are increasingly purchasing connected toys for themselves, driven by nostalgia and the desire for stress relief. This trend is contributing to the overall growth of the toy market The Guardian.

Research Scope

Research in the connected toys market encompasses various aspects to provide a comprehensive understanding of its dynamics:

• Technological Innovations: Studies focus on the development of new technologies that enhance the capabilities of connected toys, such as improved sensors, AI algorithms, and user-friendly interfaces.
• Market Dynamics: Research analyzes factors influencing market growth, including economic conditions, consumer preferences, and regulatory policies.
• Consumer Behavior: Investigations explore the adoption patterns of connected toys among different demographics, identifying key drivers and barriers to adoption.
• Competitive Landscape: Studies examine the strategies of key players in the market, including product development, partnerships, and market expansion efforts.
• Regional Analysis: Research assesses the market trends and opportunities in different regions, considering local economic conditions, technological infrastructure, and cultural preferences.

Major Key Players:

• The LEGO Group
• Sony Corporation
• UBTech Robotics Corporation
• iRobot Corporation
• Digital Dream Labs Inc.
• Sphero Inc.
• Hasbro
• Mattel
• DJI
• Wonder Workshop
• Konami Holdings Corporation
• Playmobil
• K’NEX Industries Inc.
• TOSY Robotics
• WowWee Group
• Workinman
• Pillar Learning
• Smart Teddy
• and KEYi Technology.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/connected-toys-market

Market Segmentation

The connected toys market can be segmented based on several criteria:

1. By Type:
• App-Connected Toys: Toys that interact with smartphones or tablets via dedicated applications, offering a wide range of functionalities and content.
• Voice-Activated Toys: Toys that respond to voice commands, providing hands-free interaction and enhancing play experiences.
• Screenless Connected Toys: Toys that offer interactive experiences without the need for screens, focusing on audio and tactile engagement.
• Smart Toys with Wearable Integration: Toys that integrate with wearable devices, allowing for personalized and immersive play experiences.
• Robotics & Programmable Toys: Toys that can be programmed or controlled to perform specific tasks, promoting learning in areas like coding and robotics.
• Smart Action Figures and Dolls: Traditional action figures and dolls enhanced with smart features, such as voice recognition and interactive storytelling.
2. By Interfacing Device:
• Smartphones: The most common device used to control and interact with connected toys, offering portability and a wide range of functionalities.
• Tablets: Larger devices that provide a more immersive experience, often used for educational content and interactive play.
• Consoles & PCs: Devices used for more complex interactions, particularly in the case of robotics and programmable toys.
• Wearables: Devices like smartwatches that can interact with connected toys, offering new avenues for play and learning.
3. By Age Group:
• 0-5 Years: Toys designed for infants and toddlers, focusing on sensory development and basic motor skills.
• 6-8 Years: Toys that promote creativity, problem-solving, and early learning concepts.
• 9-12 Years: Toys that offer more complex interactions, including coding, robotics, and advanced educational content.
• Teenagers (13-19 Years): Toys and games that cater to older children and teenagers, often integrating with social media and offering competitive play experiences.
4. By Region:
• North America: The largest market for connected toys, driven by high disposable incomes, technological infrastructure, and consumer demand for innovative products.
• Europe: A significant market with a focus on educational and sustainable toys, influenced by strong regulatory standards and consumer preferences.
• Asia-Pacific: The fastest-growing market, fueled by rapid urbanization, increasing disposable incomes, and a growing middle-class population.
• Latin America and Middle East & Africa: Emerging markets with expanding demand for connected toys, supported by economic development and increasing access to technology.

Conclusion

The connected toys market is at the forefront of a technological revolution in children's entertainment and education. With advancements in AI, IoT, and AR, these smart toys are providing children with personalized and interactive learning experiences. As consumer preferences continue to evolve toward educational and sustainable products, the connected toys market is poised for sustained growth. Manufacturers that prioritize innovation, safety, and sustainability will be well-positioned to capitalize on the opportunities presented by this dynamic market.

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