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Connected Toys Market By Toy Type (App-enabled Mechanical Toys & Drones, Voice/Image Recognition Toys and Health Tracking Toys/Wearables), By Device Type (Smartphone & Tablet Connected Toys, Laptop Connected Toys and Console Connected Toys), By Connectivity Type (Wi-Fi, Bluetooth and RFID/NFC)) - Growth, Future Prospects and Competitive Landscape, 2018 – 2026

Overview:

The global connected toys market is expected to reach US$ 69.16 billion by 2026, growing at a CAGR of 14.1% from 2018 to 2026. The dramatic increase in the number of internet-connected devices, including the Internet of Things (IoT), has created numerous benefits for consumers across the globe. Wearable technologies, smart thermostats, and connected home security systems are just a few examples. Similarly, in the recent past, children's toys have evolved from simply stuffed bears to connected toys.

Connected toys, also known as smart toys, come in all shapes and sizes, but all have some degree of connectivity that allows children to interact with the toy through a smart device. Children's toys are already computerized and connected to the internet and will continue to evolve in the near future as technology advances. An increase in the number of internet users coupled with the rising popularity of various hand-held devices like smartphones and tablets are driving awareness and growth in the connected toys market worldwide.

Connected toys are everywhere these days and are becoming increasingly popular as they offer a varied range of opportunities and features for interactive play and education. On the other hand, when a toy shifts from being a doll or an action figure to being a child's interactive friend with the capability to accumulate personal data and offer external information, it becomes necessary to ensure that parents take security and privacy safeguards. Many connected toys have been found to lack sufficient security measures. As a result, the lack of safety and security of these toys is expected to hinder the growth of the connected toys market during the forecast period from 2018 to 2026.

Market Snapshot

App-enabled mechanical toys and drones accounted for the largest market share in 2017.

In 2017, based on product type, app-enabled mechanical toys and drones exhibited the largest market share in the global connected toys market. The segment is expected to grow at a significant rate in the years to come. Advances in the application programming interface (API) for connected toys are expected to enhance the market's growth in the coming years. The trend is expected to continue as the market evolves, providing significant growth opportunities from 2018 to 2026.

North America held the largest market share in 2017.

The connected toys market, based on geography, was led by North America in 2017 and is expected to remain dominant throughout the forecast period from 2018 to 2026. A growing number of devices in American households, including security systems, televisions, heating and cooling devices, and connected toys, rely on internet connectivity to perform a range of functionalities. Increasing adoption of smart technologies in the region is expected to boost the growth of the connected toys market in the years to come.

Competitive Insights

Connected toy manufacturers are adopting strategies like partnerships and new product development to cater to the needs of their customers and gain a competitive edge over other players. For instance, in May 2018, Lego launched a new line of connected toys known as "Powered Up" and also released its first set in the series, the Batmobile, which gets controlled by pre-built remote interfaces on the companion Powered Up iOS and Android app. The Powered Up line consists of multiple products that differ in complexity instead of one set that can be used to build multiple things. Some of the sets might be battery-powered only, while others can be app-controlled or remotely controlled.

The major players in the global connected toys market include Sphero, Hasbro, Sony Corporation, KidsII Inc., Playmobil, Fisher-Price, Inc., The Lego Group, Mattel Inc., K'NEX Industries Inc., LeapFrog Enterprises, Inc., Tomy Company, Ltd., and Jakks Pacific, Inc., among others.

Periods of History and Forecast

The research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The connected toys market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global connected toys market based on toy type, device type, connectivity type, sales channel, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of connected toys in 2017, and what is the forecast up to 2026?
  • What are the key factors driving the global market for connected toys?
  • What are the key market trends and high-growth opportunities observed in the connected toy market?
  • What are the drivers of the connected toy market?
  • Which is the largest regional market for connected toys?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the connected toy market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Frequently Asked Questions: 

The market for Connected Toys is expected to reach US$ 69.16 Bn in 2026.

The Connected Toys market is expected to see significant CAGR growth over the coming years, at 14.1%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Sphero,Hasbro, Inc.,Sony Corporation,KidsII Inc.,Playmobil are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2019
Category:  Technology & Media
Report ID:   59553
Report Format:   PDF
Pages:   120
Rating:    4.4 (49)
Delivery Time: 24 Hours to 48 Hours   
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