Get In Touch

Global Connected Toys Market: Overview

Gone are the days when monopoly or a game of building a LEGO spaceship could hold children’s attention. Interactive tech toys or connected toys are a reality that most kids see as a given. A recent study concluded that 90% kids under the age of 2 know how to use a tablet/smartphone.

But, connected toys are not just for the pleasure of kids. They are also gaining popularity among parents who see these as a means to monitor their children while away. For instance, with toys like Teddy the Guardian, they can measure their babies’ temperature as well as heart rate. 

Therefore, it should come as no surprise that the market for connected toys is expected to grow at an impressive CAGR.

Want to know what lies in store for the future of global connected toys market? Request Brochure

Global Connected Toys Market: Notable Developments

From board games to Iot-based games, children’s play world has transformed in more ways that could have been imagined just few years back. Participants on the consumer-end of the spectrum demand more from what children’s play thing contribute to in their development. Here are some developments that may define the future of connected toys.

2018 – Facebook partnered with Sphero to utilize play for expanding education and making it more accessible. With more visibility in the classrooms and a favourable opinion created in the minds of parents and teachers alike, the move might create more receptivity in the connected toys market.

2019 – Mattel expanded its licensing agreement with Pixar Animation Studios to bring in fresh releases and epochal blockbusters into its fold. For instance, it made good of the opportunity created by capitalising on the deal in case of Toy Story 4 by eking out 1% sales in its Q2. It is looking at making more from the market interactive play experiences in the coming period.

2020 – Hasbro along with Sony plan on launching connected toys called Ghostbusters, ahead of the release of Ghostbusters 2020. This is similar to Mattel’s move in partnering with movie producers to snap up market share. The pattern discerned also shows that strategic partnerships and product developments remain the most important strategies in times to come.

Global connected toys market is partially fragmented. Major players include:

  • Mattel (The United States of America)
  • LEGO group (Denmark)
  • Hasbro (The United States of America)
  • Sphero (The United States of America)
  • Sony (Japan)
  • Leka (France)

Looking for customized insights to build your business for future? Ask for a Custom Research

Global Connected Toys Market: Key Trends and Drivers

  • The toy industry is seeing a rise in the number of children and parents enchanted with the potential of internet of things which can successfully combine education with fun and also allows parents to keep a close watch. One such toy that keeps children hooked to Chemistry through the use of art and colours is Crayola Chemistry Set, a compilation of directions and guidelines to 50 science experiments.
  • An increased adoption of Science, Technology, Engineering and Mathematics (STEM) toys is driving demand in a big way and the number of connected platforms are now facilitating it further. The year 2018 saw an increase of 23% in the sales of STEM toys. The toys make 1% of the United States’ toy industry.

Global Connected Toys Market: Geographical Analysis

An early adoption of initiatives for connected toys such as Artificial Intelligence, Machine Learning and voice and speech recognition is expected to help North America hold the largest chunk of the market. Another factor that helps the region have a high-powered grasp on global connected toys market share is availability of funding opportunities, broad consumer base. The positive environment for innovation and availability of skilled workforce also contributes to the position.. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Connected Toys Market