Market overview

The size of the global market for smart toys is anticipated to grow significantly over the course of Toys Market Size is anticipated to reach USD 275.65 billion by 2030, registering a CAGR of 5.2% from 2022 to 2030.

Children of all ages engage in interactive play while playing with smart toys that use artificial intelligence (AI) technology. Smart toys have a number of potential benefits, such as helping kids with different learning activities, playing, developing creative ideas, and problem-solving abilities. Smart devices range from robotic companions to smart speakers that can recognise, communicate, and engage with kids.

The adoption of cutting-edge technologies like smart home appliances and technologies like IoT, AI, etc. is being driven by the rise in disposable incomes among people around the world, particularly among consumers in developing economies like India, Canada, Mexico, the Middle East countries, and others.

Regional analysis

Over the projected period, the market for smart toys is anticipated to grow at a healthy CAGR of 22.4%.

A substantial portion of the market is anticipated to be accounted for by North America because of the region's rising desire for smart toys. Due to the advantages smart toys market reports provide for STEM education (Science, Technology, Engineering, and Math) and the growing need for programming and embedding technologies like AI, the US is predicted to dominate the country-level market in the North American area. Additionally, there are significant players present, like Innokind, Inc. (US), Twin Science (UK), playshifu.com (US), Fat Brain Toys, LLC. (US), ROYBI Robot (US), Mattel (US), Smart Kids Toys (US), and LeapFrog Enterprises, Inc. (US), among others. Additionally, these major companies are making significant investments in research and development to create cutting-edge entertainment via learning and maintain their leadership in innovation while offering a superior consumer experience.

A stronger adoption of smart toys is also predicted to keep the Europe area in second place behind North America over the review period. The AI Act, also known as the AIA, which lays the stage for a major reform of the regulation of the digital world to prioritise children's rights and create a digital world that people can trust, will be enforced starting on April 21st on smart toy makers operating in the region.

Market segmentation

The  toys market research  for smart toys has been divided into segments by kind, technology, distribution method, end-user, and geography.

Robots, interactive games, instructional robots, and others make up the type segment's subsegment.

The market for smart toys has been segmented by technology into wi-fi, Bluetooth, RFID or NFC, and others.

The market for smart toys has been divided into segments based on end users, including toddlers, preschoolers, school-age children, and striplings.

Five geographic areas—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America—have each had their share of the worldwide market for smart toys examined.

Key players

The leading companies in the worldwide market for smart toys may be recognised by looking at a number of factors, including their place of origin, presence in a variety of locations, recent important innovations, product diversity, and industry knowledge. Companies like Innokind, Inc. (United States), Twin Science (United Kingdom), APF France handicap (Leka Smart Toys) (France), playshifu.com (United States), Fat Brain Toys, LLC. (United States), ROYBI Robot (United States), DJI (China), Mattel (United States), The LEGO Group (Denmark), Smartivity Labs (India), Smart Kids Toys (United States (Japan). Partnerships, acquisitions, agreements/collaborations, and the creation of new products are among the important tactics that have been used by the majority of the market participants.

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