Dublin, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The "Global Connected Toys Market Size, Share & Industry Trends Analysis Report by Application, Age Group, Technology (Wi-Fi, Bluetooth), Interfacing Device, Distribution Channel, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Connected Toys Market size is expected to reach $23.4 billion by 2028, rising at a market growth of 19.7% CAGR during the forecast period.
Toys that are connected to the internet and use Bluetooth or WiFi to process functions are known as connected toys. A speaker, microphone, and app to process the data are typically included. In response to children's increasing access to screens, connected toys are changing traditional objects to include more of the appointment features that digital screens offer.
However, by taking advantage of this development, linked toys raise more concerns among parents and educators about children's use of reflexive digital technologies. With the help of connected toys, families and parents may actively participate in and closely monitor their children's development, generating data that will help parents better understand the events that their kids are involved in and create connections between play and parent-child discussions.
An increase in the number of parents and kids using the internet, which successfully combines education and entertainment while allowing parents to keep an eye on their children, is what drives market expansion. In addition, the market for connected toys is being driven by the growing popularity of technology, science, math, and engineering toys.
However, the market for linked toys is constrained by a lack of safety and security. On the other hand, increasing government restrictions to regulate security breaches and R&D investment in toys and robots offers an opportunity to push the market for connected toys.
COVID-19 Impact Analysis
The worldwide coronavirus outbreak had a significant negative impact on the world's economy. Lockdowns have been imposed in numerous countries all over the world in an effort to halt the coronavirus's transmission and spread. This had a significant negative impact on the building toy industry's distribution networks, commerce, and growth.
Additionally, the sale of toys on various e-commerce websites has surged since the COVID-19 pandemic, which could increase the need for more connected toys over the projection period.
Market Growth Factors
Rising Working Women and Less Time to Take Care of Children Rising Need for Tracking Toy Devices
Humans are now more connected than ever due to the Internet of Things. Today smartphones provide unlimited access to practically everything, including GPS, banking, social networking, everyday phone, and text communication, online shopping, and more. In the last ten years, technology has advanced beyond the screens. Most homes, automobiles, and children's toys all contain it. IoT devices have significant advantages for parents and careers.
Parents Are More Concerned with The Overall Development of Their Children
Parents are looking for ways to get their kids interested in new physical activities because they are worried that they may get addicted to computers TV and cell phones. Kids may exercise their minds while also improving their creativity and social skills with the help of connected toys. Children can purchase modern connected toys from vendors, including IoT enabled car toys. Due to parents' increased focus on instilling in their children useful problem-solving and life skills, the market for technology enabled toys has grown.
Marketing Restraining Factor:
Concerns about privacy are being raised by connected toys
More and more kids' toys are being sold with internet connectivity as a crucial component. The internet connection can be established with a wire that attaches to a computer or router, but it is more likely to be established using a wi-fi-enabled app on a smartphone or tablet. Since they have the ability to collect and handle personal data through features like cameras and microphones, connected toys and devices give rise to particular security concerns.
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $6833.2 Million |
| Forecasted Market Value (USD) by 2028 | $23438.5 Million |
| Compound Annual Growth Rate | 19.7% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 The Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Global Connected Toys Market by Application
4.1 Global Education Market by Region
4.2 Global Entertainment Market by Region
4.3 Global Other Applications Market by Region
Chapter 5. Global Connected Toys Market by Age Group
5.1 Global Teenagers (13-19 years) Market by Region
5.2 Global 9-12 years Market by Region
5.3 Global 6-8 years Market by Region
5.4 Global 1- 5 years Market by Region
Chapter 6. Global Connected Toys Market by Technology
6.1 Global Wi-Fi Market by Region
6.2 Global Bluetooth Market by Region
6.3 Global Others Market by Region
Chapter 7. Global Connected Toys Market by Interfacing Device
7.1 Global PC/Laptop Market by Region
7.2 Global Smartphone/Tablet Market by Region
Chapter 8. Global Connected Toys Market by Distribution Channel
8.1 Global Offline Market by Region
8.2 Global Online Market by Region
Chapter 9. Global Connected Toys Market by Region
Chapter 10. Company Profiles
10.1 Hasbro, Inc.
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Recent Strategies and Developments
10.1.4.1 Partnerships, Collaborations, and Agreements
10.2 Mattel, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent Strategies and Developments
10.2.5.1 Partnerships, Collaborations, and Agreements
10.3 LEGO Group (KIRKBI A/S)
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Research & Development Expenses
10.3.4 Recent Strategies and Developments
10.3.4.1 Partnerships, Collaborations, and Agreements
10.4 VTech Holdings Limited
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent Strategies and Developments
10.4.5.1 Product Launches and Product Expansions
10.5 ROYBI
10.5.1 Company Overview
10.5.2 Recent Strategies and Developments
10.5.2.1 Partnerships, Collaborations, and Agreements
10.5.2.2 Acquisition and Mergers
10.6 Pillar Learning
10.6.1 Company Overview
10.6.2 Recent Strategies and Developments
10.6.2.1 Product Launches and Product Expansions
10.7 Ubtech Robotics Corp. Ltd.
10.7.1 Company Overview
10.7.2 Recent Strategies and Developments
10.7.2.1 Product Launches and Product Expansions
10.8 PlayShifu
10.8.1 Company Overview
10.8.2 Recent Strategies and Developments
10.8.2.1 Partnerships, Collaborations, and Agreements
10.9 Sphero, Inc.
10.9.1 Company Overview
10.9.2 Recent Strategies and Developments
10.9.2.1 Acquisition and Mergers
10.10. Mainbot SAS
10.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/901w25-connected?w=12
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