New York, United States, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Educational or "instructive toys" are intended to impart academic learning, inspire creativity, and promote children's intellectual and motor development through play. These devices also promote children's physical and cognitive development and help them manage academic pressure. Educational tools foster the social and emotional development of children. Different educational toys and games equip children of varying ages with diverse skill sets. A variety of skills, including problem-solving, academic, social, physical, and school preparedness, can be fostered by educational toys.
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Growing Demand for Inspirational and Aspirational Toys Drives the Global Market
According to Straits Research “The global educational toys market was valued at USD 23.06 billion in 2022. It is estimated to reach USD 45.63 billion by 2031, growing at a CAGR of 7.91% during the forecast period (2023–2031).” Aspirational and inspirational objects are intended to pique children's interest in various professions. These devices can aid in expanding children's knowledge of various occupations. As parents want their children to learn about various career options, the demand for these products is growing rapidly. Numerous children appreciate engaging in make-believe or role-playing as their favorite celebrities or professionals. They ask their parents for various toys and activities, such as doctor sets, to support this role play and make it appear realistic. In addition, parents encourage their children to engage with these toys to learn more about the various aspects of a particular profession. For example, the doctor's playsets include a stethoscope, hypodermic, and other medical instruments. Inspirational and aspirational toys arouse children's curiosity and encourage them to investigate skills that could assist them in choosing a career path.
Development of Smart Toys or AI-based Toys Creates Tremendous Opportunities
Smart educational or connected toys use the most advanced smart technologies to interact with a person. Two modes of interaction are possible: open-ended suggestions and responding to the child's actions. Recently, the demand for interactive toys has increased significantly, particularly in households where children are increasingly left alone to play. Thus, AI-based intelligent devices are becoming increasingly popular worldwide. These toys are embedded with a microcontroller that employs Wi-Fi or Bluetooth technology, enabling children to access them through their smartphones. Developing these technologies and raising awareness will likely present numerous growth opportunities for educational product manufacturers over the forecast period.
Regional Analysis
North America is the most significant global educational toys market shareholder and is estimated to grow at a CAGR of 5.52% over the forecast period. North America dominates the global market for educational toys due to parents' increasing emphasis on play concepts that help children learn rapidly. In addition, most of the U.S. population is under 20 years old, the largest educational product market contributor. It is challenging for parents in the United States and Canada to teach their children IQ and problem-solving abilities in a theoretical sense. In order to develop and instill these skills in their children, parents rely on various educational toys. This is likely to increase the market for educational products in the region. This region's inhabitants are early adopters of all new technologies introduced to the market. Children are becoming increasingly interested in the continuous innovation and development of new toys with cutting-edge technologies by toy manufacturers. Therefore, children are becoming increasingly interested in robotic and three-dimensional devices. This is anticipated to increase the demand for educational devices over the foreseeable future.
Asia-Pacific is anticipated to exhibit a CAGR of 10.72% over the forecast period. Due to the high preponderance of toy production in countries like China, India, and Vietnam and the growing importance of education and child development, the Asia-Pacific region is projected to witness the highest growth in the educational toy market over the forecast period. The accelerated urbanization caused by the migration of people to cities is resulting in an increase in living standards in a country like India, which presents numerous opportunities to expand the educational toys market in the region. Moreover, visuals have a greater impact than auditory stimuli; educational devices are designed with vivid images and vibrant hues. The text's use of color increases the desire to read by more than 75%. This causes parents to purchase educational toys that aid their children's learning and development, thereby contributing to the expansion of educational toys in the region.
Key Highlights
- Based on educational toy type, the global educational toys market is divided into academic, cognitive thinking, motor skills, and others. The academic segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 6.92% over the forecast period.
- Based on educator type, the global educational toys market is divided into STEM activities, after-school, classroom games, brain breaks, gifted and talented, and lesson plans. The STEM activities segment contributes to the highest market share and is expected to exhibit a CAGR of 6.52% over the forecast period.
- Based on age group, the global educational toys market is divided into 3-8 years, 8-12 years, 12+ years, and 0-3 years. The 3-8 years segment accounts for the largest market share and is anticipated to exhibit a CAGR of 8.15% over the forecast period.
- Based on distribution channels, the global educational toys market is bifurcated into online and offline channels. The offline segment owns the highest market share and is predicted to exhibit a CAGR of 6.91% over the forecast period.
- Based on category, the global educational toys market is bifurcated into indoor and outdoor. The indoor segment dominates the global market and is predicted to exhibit a CAGR of 7.37% during the forecast period.
- North America is the most significant global educational toys market shareholder and is estimated to grow at a CAGR of 5.52% over the forecast period.
Competitive Players
The key players in the global educational toys market are LEGO, Mattel, Hasbro, Vtech, Spin Master, Bandai Namco, Basic Fun, C’Mon, Digital Dream Labs, Engino.Net, Disney, Fremont Die, Funskool, International Playthings, Goliath, INI, Johnco, K’Nex, Vtech Electronics, Leapfrog Enterprises, Learning Resources, Winning Moves Games, WowWee Group Limited, and others.
Market News
- In November 2022, LeapFrog® Enterprises, Inc., a market leader in innovative educational toys for children, released new eco-friendly learning toys that inspire creativity and imagination. The Interactive Learning Easel, the Wooden AlphaPupTM, and the Tappin' Colors 2-in-1 XylophoneTM are among the exciting new products featuring materials sourced from responsibly managed forests approved by the Forest Stewardship Council®, following the successful introduction of eco-friendly toys last year.
- In November 2022, CircuitMess announced that its new STEM learning device is available at Sam's Club locations across the United States. Chatter 2.0 is a personal messaging device that teaches electronics, programming, cybersecurity, and other future skills. The DIY kit is appropriate for children aged nine and older.
Global Educational Toys Market: Segmentation
By Educational Toy Type
- Academic
- Cognitive Thinking
- Motor Skills
- Others
By Educator Type
- STEM Activities
- Classroom Games
- After School
- Brain Breaks
- Gifted and Talented
- Lesson Plans
By Age Group
- 3-8 Years
- 8-12 Years
- 12+ Years
- 0-3 Years
By Distribution Channel
- Online
- Offline
By Category
- Indoor
- Outdoor
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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