Connected Toys Market

Connected Toys Market by Interacting Device (Smartphone-Connected Toys, App-Connected Drones, Console-Connected Toys, and Tablet-Connected Toys), Age Group (2–5 Years, 6–8 Years, 9–12 Years, and Teenagers), Region - Global Forecast to 2024

Report Code: TC 7183 Jun, 2019, by marketsandmarkets.com

[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.

Connected Toys Market

The report provides detailed insights into the connected toys market, including interacting device, age group, and region.

App-connected drones segment to grow at the highest CAGR during the forecast period

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.

9–12 years age group to hold the largest market size during the forecast period

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.

Connected Toys Market

North America to hold the largest market size during the forecast period

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.

Key Market Players

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.

Recent Developments

  • In May 2019, LEGO Group unveils the latest addition to its Star Wars range. The new LEGO Star Wars BOOST Droid Commander set offers all the creativity and coding fun of LEGO BOOST alongside the chance to build three of the film franchise’s most iconic droids: R2-D2; the Gonk Droid; and the Mouse Droid.
  • In May 2019, Mattel expands global licensing agreement with Disney for Pixar Animation Studios spanning new releases and iconic blockbusters.
  • In September 2018, Sphero and Facebook partnered to give access to computer programming in the US. The partnership would expand education and discovery in computer programming in the region.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long-term?
  • Which segment provides the most opportunity for growth?
  • Which are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?
  • Which region has the highest growth over the next 5 years in the connected toys market?

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
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 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)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Widespread and Easy Availability of Connected Platforms
                    5.2.1.2 Increasing Adoption of Stem Toys
           5.2.2 Restraints
                    5.2.2.1 High Cost of Connected Toys
           5.2.3 Opportunities
                    5.2.3.1 Increasing Awareness of Internet and Technology
                    5.2.3.2 Increasing R&D Spending on Robots and Toys
           5.2.4 Challenges
                    5.2.4.1 Negative Effects on Children’s Development
                    5.2.4.2 Heightened Risks With Constant Connectivity

6 Connected Toys Market By Interacting Device (Page No. - 29)
    6.1 Introduction
    6.2 Smartphone-Connected Toys
           6.2.1 Enhanced Network Infrastructure and Sensor-Based Technologies to Drive the Growth of Smartphone-Connected Toys
    6.3 APP-Connected Drones
           6.3.1 Sensors, Latest Software and AI Advancements to Drive the Growth of Overall APP-Connected Drones Market
    6.4 Console-Connected Toys
           6.4.1 New Game Platforms and A Plethora of New Video Games to Drive the Overall Growth of Console-Connected Toys
    6.5 Tablet-Connected Toys
           6.5.1 Customized Features and Daily Learning Exercises for Kids to Drive the Overall Growth of Tablet-Connected Toys Market

7 Connected Toys Market By Age Group (Page No. - 35)
    7.1 Introduction
    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 the Growth of Connected Toys 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 the Adoption of Connected-Toys Among Kids Aged Between 9 and 12 Years
    7.5 Teenagers
           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)
    8.1 Introduction
    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 Europe
           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)
    9.1 Introduction
    9.2 Competitive Scenario
           9.2.1 Product/Solution Launches and Enhancements
           9.2.2 Acquisitions
           9.2.3 Partnerships

10 Company Profiles (Page No. - 53)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     10.1 Mattel
     10.2 Hasbro
     10.3 LEGO Group
     10.4 Sphero
     10.5 Sony
     10.6 PLAYMOBIL
     10.7 BANDAI NAMCO
     10.8 K’NEX
     10.9 Konami
     10.10 Wonder Workshop
     10.11 PlayFusion
     10.12 Anki
     10.13 WowWee
     10.14 DXTR Labs
     10.15 Leka

*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 Connected Toys 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.

Secondary Research

The market size for companies offering connected toys was arrived at on the basis of the secondary data available through paid and unpaid sources, and by analyzing the product portfolios of the major companies in the ecosystem and rating them 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.

Primary Research

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:

Connected Toys Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

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:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.

Data Triangulation

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.

Report Objectives

  • To define, describe, and forecast the market by interacting device, age group, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
  • To analyze the market with respect to individual growth trends, prospects, and contributions to the connected toys market
  • To forecast the market size of the 5 main regional segments, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the connected toys market
  • To profile the key players in the market and comprehensively analyze their core competencies in each microsegment
  • To analyze the competitive developments, such as new product launches and product enhancements, acquisitions, and partnerships, in the connected toys market

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast unit

Value (USD)

Segments covered

Interacting Devices, Age Groups, and Regions

Geographies covered

North America, Europe, APAC, and RoW

Companies covered

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:

By Interacting Device

  • Smartphone-connected Devices
  • App-connected Drones
  • Console-connected Toys
  • Tablet-connected Toys

By Age Group

  • 2–5 Years
  • 6–8 Years
  • 9–12 Years
  • Teenagers

By Region

  • North America
  • Europe
  • APAC
  • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs and on best effort basis for profiling of additional market players.

Report Code
TC 7183
Published ON
Jun, 2019
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