Farmington, May 13, 2023 (GLOBE NEWSWIRE) -- The Global Smart AI Toys Market size was valued at USD 12.143 billion in 2022 and is projected to reach USD 36.377 billion by 2030, growing at a CAGR of 14.70% from 2023 to 2030. Key factors driving the growth of this market include the growth of e-commerce companies and the popularity of animated movies will lead to new business growth opportunities. The rapid expansion of the Internet of Things has led to the proliferation of clever, connected devices that can perform a variety of functions. Smart AI toys incorporate technologies such as the Internet of Things (IoT), artificial intelligence (AI), and smart devices to help children learn and have fun. Because the toy has built-in software that can recognize sound and image, interact with apps, read RFID tags, and enable web browsing, it provides children with a personalized play experience. For instance, CogniToys' Dino utilizes IBM Watson's natural language processing technology to tailor its responses to the child's age and skill level.
Request Sample Copy of Report "Smart AI Toys Market Size, Share & Trends Estimation Report By Type Outlook (Smartphone Connected, Tablet-Connected), By Application Outlook (Online Stores, Specialty Stores, Convenience Stores), By Age Outlook (0-3 years, 3-8 years, 8-12 years), Region and Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
In 2020, due to the expansion of edutainment services and the high penetration of smartphones, interactive games had the highest revenue share at over 85.0%. Playing interactive games is a fantastic way to discover and cultivate new learning and creative skills. Interactive games require players to solve mysteries in a virtual environment. These games can be used to assist preschool-aged children understand letters and alphabets.
Application Outlook:
The largest share of the market for smart artificial intelligence devices is held by large businesses, according to the report. In 2020, the offline channel segment's share of total revenue exceeded 60.0%. As the landscape for distribution channels has shifted, the competition between online and offline retailers has intensified.
Regional Analysis:
North America brought in over 40.0% of the total revenue. Because more and more smart home devices are being purchased, smart gadgets are gaining popularity in the region.
Smart toys are gaining popularity in the APAC region as the middle class expands and the demand for educational toys rises. Due to its extensive distribution network and high consumer engagement rate, Lego Group has experienced consistent growth in the region.
China is the largest source of revenue for the Asia-Pacific smart device market. This region's rapid expansion is largely attributable to the rise of digitalization, the popularity of smart devices, and increased spending on research and development.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 14.7%from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 36.37 billion |
| By Type |
|
| By Application |
|
| By Age |
|
| By Companies |
|
| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Key Trends:
Rising and expanding influence among the people
People with more disposable income, particularly in emerging economies such as India, Canada, Mexico, the Middle East, and other regions, are more likely to utilize advanced technologies such as smart home devices and IoT, AI, and other technologies.
The rate of technological change is rapid
Technological progress is a continuous process that generates new technologies that facilitate our daily activities. There have been a number of new innovations in the smart toy industry that help children develop and explore their creative minds.
Drivers: E-commerce is growing in popularity
It is anticipated that the growth of e-commerce companies and the prevalence of animated films will create new opportunities for business expansion. The market for smart toys has increased significantly through online purchasing.
Restraints: Demand for remote learning slows market expansion.
The expansion of education is anticipated to halt the expansion of the global market for intelligent toys. Teaching professionals recommend intelligent tools, particularly for children who are still growing and learning, and employ them in the classroom.
Key Segments Covered:
Top Market 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. and others.
By Type
- Smartphone Connected
- Tablet-Connected
By Application
- Online Stores
- Specialty Stores
- Convenience Stores
By Age
- 0-3 years
- 3-8 years
- 8-12 years
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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