Global Connected Toys Market Size, Share, Growth Analysis, By Interface(App-based connected drones, Console connected toys), By Distribution Channel(Retailers, Online) - Industry Forecast 2024-2031

Global Connected Toys Market size was valued at USD 9.45 billion in 2022 and is poised to grow from USD 11.75 billion in 2023 to USD 66.94 billion by 2031, growing at a CAGR of 24.3% during the forecast period (2024-2031).

The global connected toys market has seen substantial growth recently, driven by technological advancements, growing consumer demand for interactive and educational play, and the widespread adoption of Internet of Things (IoT) devices. These toys, which blend physical components with digital features like sensors and wireless connectivity, offer interactive experiences that bridge the gap between physical and digital play. This trend is fueled by the rising popularity of blended play, where both realms merge to provide enriched experiences, along with the promise of enhanced learning and engagement for children. Parents and educators are intrigued by the personalized content, interactive capabilities, and real-time feedback that connected toys offer, although concerns about data privacy and security persist. The market encompasses a diverse array of products, ranging from interactive dolls and action figures to educational tablets and augmented reality-based playsets. Key industry players are continuously striving to innovate, ensuring that connected toys remain both compelling and safe.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Connected Toys Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Connected Toys Market Segmental Analysis

The global connected toys market is segmented on the basis of Interface, Age, Distribution channel and region. By Interface, the market is segmented into App-based connected drones, Console connected toys, Smartphone connected toys, Tablet connected toys. By Age, the market is segmented into 2-5 years, 6-8 years, 8-12 years, Teenagers, Adults. By Distribution channel, the market is segmented into Retailers, Online, Specialty stores. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Connected Toys Market

The growth of the global connected toys market is fueled by the swift evolution of technology, particularly in IoT (Internet of Things), AI (Artificial Intelligence), and augmented reality (AR). These innovations empower toys to deliver interactive and immersive experiences, elevating children's engagement and learning. The incorporation of sensors, connectivity, and intelligent functionalities into toys has spurred a notable uptick in demand among tech-savvy consumers seeking fresh and educational play opportunities.

Restraints in the Global Connected Toys Market

Connected toys frequently gather and transmit personal data, prompting worries regarding privacy and data protection. Weaknesses in the connectivity of these toys can leave sensitive information vulnerable and pose potential risks to children's safety. With increasing regulatory focus on data security, manufacturers encounter difficulties in implementing robust security measures, resulting in reluctance among parents and guardians to embrace connected toys.

Market Trends of the Global Connected Toys Market

Connected toys are embracing Internet of Things (IoT) technology to elevate interactivity and engagement levels. These toys utilize internet connectivity to offer remote control capabilities, gather data, and provide real-time updates. Incorporating sensors, cameras, and voice recognition, they craft immersive and personalized experiences for kids. Moreover, IoT integration facilitates smooth connectivity with various devices like smartphones and tablets, empowering parents to oversee and engage in their children's play activities effortlessly.