The market for smart/AI toys is anticipated to generate US$ 48,861.0 million in revenue by 2032, up from US$ 12,143.2 million in 2022, with a projected CAGR of 14.9% over the forecast period.
A fantastic array of playthings geared towards kids, teens, and adults are flooding the global market for smart/AI toys. Over time, the market for traditional toys has shrunk due to constant innovation and the introduction of smart/AI toys, while the market for these toys has grown significantly.In addition, a new generation of smart/AI toys, games, and apps that kids can programme themselves and control are helping the market flourish.
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Smart/AI Toys Market: Drivers and Restraints
Drivers
An interesting trend influencing the Smart/AI toys market is the growing disappointment of children towards traditional toys and games. The period of engaged play with the same toys and games is declining. This has resulted in the introduction of new and different games and Smart/AI toys. The manufacturers are pushing to develop smart/AI toys due to the increasingly digital lifestyles of consumers and exposure to technology at an early age. App integrated toys, and toys that can be controlled by smartphones and tablets are emerging as the new frontiers of growth in Smart/AI market.
Restraints
The manufacturers are faced with the challenge of continuously developing Smart/AI toys that grab and sustain the attention of children. High cost of Smart/AI toys can be the restraint to the growth of Smart/AI Toys market.
Smart/AI Toys Market: Regional Overview
According to the regional analysis the smart/AI toys market will be dominated by the United States, due to the high demand in this region and the strong performance of smart toys in this region. However, the market in APAC is set to disrupt this trend with the increase in disposable income and the presence of developing countries in this region which will result in high demand for the Smart/AI toys. Also, the presence of key players in this region will fuel the growth of the smart/AI market in this region.
Key Players
- Dream International Ltd.
- Integrity Toys, Inc.
- JAKKS Pacific Inc.
- Kids II, Inc.
- K’NEX Brands, Inc.
- Konami Corporation
- LeapFrog Enterprises, Inc.
- Mattel, Inc.
- Fisher-Price, Inc.
- Playmates Toys, Inc.
- Sanrio Company Ltd.
- TOMY Company Ltd.
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Key Segments Profiled in the Smart/AI Toys Market Survey
By Age:
- 0-3 years
- 3-8 years
- 8-12 years
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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