[80 Pages Report] The global connected toys market size is expected to grow from USD 5.7 billion in 2019 to USD 13.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period. Major growth drivers of the market include increasing adoption of Science, Technology, Engineering and Mathematics (STEM) toys, and widespread and easy availability of connected platforms.
The report provides detailed insights into the connected toys market, including interacting device, age group, and region.
Traditional remote control toys rely on dedicated controllers to operate; however, modern technology has resulted in the availability of a smart device in the pocket, and many manufacturers are using it for their new toys. High-end toys still rely on dedicated remotes for actual flight controls, but many toy units fly using nothing more than an app and a Wi-Fi or Bluetooth connection. For instance, in January 2018, DJI announced Mavic Air, which is a compact folding drone that packs the best of the Mavic Pro and Spark into one. Mavic Air uses hand gestures and a mobile application to fly.
Toys in the age group of 9–12 years allow children to demonstrate their personality. Kids in the age group of 9–12 years love to participate in fast-paced games, play musical instruments, use tablets, and listen to music. STEM toys and games that allow children to use complicated problem-solving skills to build robots are also popular. For instance, in September 2015, Osmo introduced Osmo Genius Kit, which helps kids to utilize time effectively. This award-winning toy turns the iPad into a fun, hands-on teaching machine and helps build skills in math, spelling, creative thinking, and drawing. This toy is designed specifically for kids aged between 9–12 years, and the games adjust to their skill level and keep them challenged and entertained for years. The kit contains game pieces plus a base that allows them to interact with the screen as they play and learn. The base can be used with a variety of other Osmo games as well, which can be purchased separately.
North America is expected to hold the largest market size during the forecast period, owing to the early adoption and innovative initiatives for connected toys, such as Artificial Intelligence (AI), Machine Learning (ML), and voice and speech recognition. The factors driving the growth of connected toys in the North American region is high funding opportunities, widespread customer base, conducive environment for innovation, and availability of highly-skilled workforce.
Major vendors in the global connected toys market include Mattel (US), Hasbro (US), LEGO Group (Denmark), Sphero (US), Sony (Japan), PLAYMOBIL (Germany), BANDAI NAMCO (Japan), K'NEX (US), Konami (Japan), Wonder Workshop (US), PlayFusion (UK), Anki (US), WowWee (Hong Kong), DXTR Labs, (Denmark) and Leka (France).
Leka is one of the key players in the connected toys market. The company is headquartered in Paris, France and provides interactive and multi-sensory smart toys offering children with special needs the ability to play fun and educational games that motivate social interactions; increase motor, cognitive, and emotional skills; as well as stimulate autonomy.
Market size available for years
Base year considered
Interacting Devices, Age Groups, and Regions
North America, Europe, APAC, and RoW
Mattel (US), Hasbro (US), LEGO Group (Denmark), Sphero (US), Sony (Japan), PLAYMOBIL (Germany), BANDAI NAMCO (Japan), K'NEX (US), Konami (Japan), Wonder Workshop (US), PlayFusion (UK), Anki (US), WowWee (Hong Kong), DXTR Labs (Denmark), and Leka (France)
The research report categorizes the connected toys market to forecast the revenues and analyze the trends in each of the following subsegments:
How are connected toys defined in the report?
Which interacting device is the most deployed by vendors in the connected toys market?
What are some of the major factors that are responsible for growth of connected toys market?
Some of the major factors driving the adoption of connected toys market:
What is the expected market size of connected toys market in 2024 ?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 11)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology (Page No. - 15)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
126.96.36.199 Breakup of Primary Profiles
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary (Page No. - 22)
4 Premium Insights (Page No. - 24)
4.1 Attractive Opportunities in the Connected Toys Market
4.2 Market By Interacting Device (2019 vs 2024)
4.3 Market Investment Scenario
5 Market Overview and Industry Trends (Page No. - 26)
5.2 Market Dynamics
188.8.131.52 Widespread and Easy Availability of Connected Platforms
184.108.40.206 Increasing Adoption of Stem Toys
220.127.116.11 High Cost of Connected Toys
18.104.22.168 Increasing Awareness of Internet and Technology
22.214.171.124 Increasing R&D Spending on Robots and Toys
126.96.36.199 Negative Effects on Children’s Development
188.8.131.52 Heightened Risks With Constant Connectivity
6 Connected Toys Market By Interacting Device (Page No. - 29)
6.2 Smartphone-Connected Toys
6.2.1 Enhanced Network Infrastructure and Sensor-Based Technologies to Drive the Growth of this Segment
6.3 APP-Connected Drones
6.3.1 Sensors, Latest Software and AI Advancements to Boost Market Growth
6.4 Console-Connected Toys
6.4.1 New Game Platforms and A Plethora of New Video Games to Drive the Growth of this Segment
6.5 Tablet-Connected Toys
6.5.1 Customized Features and Daily Learning Exercises for Kids Expected to Boost its Demand
7 Connected Toys Market By Age Group (Page No. - 35)
7.2 2–5 Years
7.2.1 Curiosity to Learn, Explore, and Discover New Toys to Drive Connected Toys Adoption in the Age Group of 2–5 Years
7.3 6–8 Years
7.3.1 Innovative Use of Technologies and Creative Imagination Driving its Adoption in 6–8 Years Age Group
7.4 9–12 Years
7.4.1 Creative Thinking and the Ability to Demonstrate Personality to Drive its Demand Among Kids Aged Between 9 and 12 Years
7.5.1 Toys That Encourage Team Work and Problem-Solving Skills to Drive the Growth of Market for Teenagers
8 Connected Toys Market, By Region (Page No. - 41)
8.2 North America
8.2.1 Innovation and Ability to Invest in Advanced Technology to Drive the Adoption of Market in North America
8.3.1 Launch of A Significant Framework for Policy Development and Adoption of Emerging Technologies to Boost the Adoption of Connected Toys in Europe
8.4 Asia Pacific
8.4.1 Rising Adoption of Advanced Technologies to Increase the Growth Opportunities for Market in APAC
8.5 Rest of the World
9 Competitive Landscape (Page No. - 50)
9.2 Competitive Scenario
9.2.1 Product/Solution Launches and Enhancements
10 Company Profiles (Page No. - 53)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
10.3 LEGO Group
10.7 BANDAI NAMCO
10.10 Wonder Workshop
10.14 DXTR Labs
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 74)
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
11.3 Available Customizations
11.4 Related Reports
11.5 Author Details
List of Tables (24 Tables)
Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Connected Toys Market Size, By Interacting Device, 2017–2024 (USD Million)
Table 4 Smartphone –Connected Toys Market Size By Region, 2017–2024 (USD Million)
Table 5 APP-Connected Drones Market Size By Region, 2017–2024 (USD Million)
Table 6 Console–Connected Toys Market Size By Region, 2017–2024 (USD Million)
Table 7 Tablet-Connected Toys Market Size By Region, 2017–2024 (USD Million)
Table 8 Market Size, By Age Group, 2017–2024 (USD Million)
Table 9 2–5 Years: Market Size By Region, 2017–2024 (USD Million)
Table 10 6–8 Years: Market Size By Region, 2017–2024 (USD Million)
Table 11 9–12 Years: Market Size By Region, 2017–2024 (USD Million)
Table 12 Teenagers: Market Size By Region, 2017–2024 (USD Million)
Table 13 Connected Toys Market Size, By Region, 2017–2024 (USD Million)
Table 14 North America: Market Size By Interacting Device, 2017–2024 (USD Million)
Table 15 North America: Market Size By Age Group, 2017–2024 (USD Million)
Table 16 Europe: Market Size By Interacting Device, 2017–2024 (USD Million)
Table 17 Europe: Market Size By Age Group, 2017–2024 (USD Million)
Table 18 Asia Pacific: Market Size By Interacting Device, 2017–2024 (USD Million)
Table 19 Asia Pacific: Market Size By Age Group, 2017–2024 (USD Million)
Table 20 Rest of the World: Market Size By Interacting Device, 2017–2024 (USD Million)
Table 21 Rest of the World: Market Size By Age Group, 2017–2024 (USD Million)
Table 22 Product/Solution Launches and Enhancements, 2018–2019
Table 23 Acquisitions, 2018
Table 24 Partnerships, 2018–2019
List of Figures (24 Figures)
Figure 1 Connected Toys Market: Research Design
Figure 2 Market Bottom-Up and Top-Down Approaches
Figure 3 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 4 Console-Connected Toys Segment to Account for the Highest Market Share in 2019
Figure 5 Increasing Adoption of Stem Toys to Drive the Growth of the Connected Toys Market During the Forecast Period
Figure 6 Console-Connected Toys Segment to Account for the Highest Market Share in 2019
Figure 7 Asia Pacific to Emerge as the Best Market for Investment Over the Next 5 Years
Figure 8 Drivers, Restraints, Opportunities, and Challenges: Connected Toys Market
Figure 9 APP-Connected Drones Segment to Grow at the Highest CAGR During the Forecast Period
Figure 10 9–12 Years Segment to Grow at the Highest CAGR During the Forecast Period
Figure 11 Asia Pacific to Witness Significant Growth During the Forecast Period
Figure 12 North America: Market Snapshot
Figure 13 Asia Pacific: Market Snapshot
Figure 14 Key Developments in the Connected Toys Market, 2018–2019
Figure 15 Mattel: Company Snapshot
Figure 16 Mattel: SWOT Analysis
Figure 17 Hasbro: Company Snapshot
Figure 18 Hasbro: SWOT Analysis
Figure 19 LEGO Group: Company Snapshot
Figure 20 LEGO: SWOT Analysis
Figure 21 Sony: Company Snapshot
Figure 22 Sony: SWOT Analysis
Figure 23 BANDAI NAMCO: Company Snapshot
Figure 24 Konami: Company Snapshot
The study involved 4 major steps to estimate the current market size of the connected toys market. Exhaustive secondary research was done to collect information about the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments.
The connected toys market size for companies was arrived at based on the secondary data available through paid and unpaid sources. The product portfolios of the major companies in the ecosystem were analyzed and rated according to their performance and quality. In the secondary research process, various sources were referred to, for identifying and collecting information for this study. The secondary sources included annual reports, press releases and investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both the market and technology-oriented perspectives, all of which were further validated by primary sources.
In the primary research process, various sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for making this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the connected toys market.
After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; the competitive landscape of connected toys solution and service providers; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key players’ strategies.
The following figure depicts the breakup of the primary profiles:
To know about the assumptions considered for the study, download the pdf brochure
Both top-down and bottom-up approaches were used to estimate and validate the total size of the connected toys market. They were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the connected toys market.
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