Smart Toys Market

The global smart toys market is projected to witness a yearly growth of 16.5% from 2021 to 2028. Smart toys use several technologies, such as smart devices, Artificial Intelligence, and IoT to offer a customized play experience to the children. A surge in the middle-class population and the accelerating perforation of smartphones has elevated the market growth.

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Smart Toys Market Dynamics

The chief forces steering the growth of the global smart toys market include the accelerating disposable income, primarily in the developing countries and the availability of a wide variety of smart toys for indoor and outdoor sports and educational purposes. The increasing awareness among parents to provide their child with technology-based toys to improve their physical and mental skillset will drive the market growth. Also, the smart toys market research projects that leading producers in the smart toys market are increasingly emphasising on developing interactive and innovative toys to cater the changing demand of parents. Moreover, the incorporation of Augmented Reality in toys, such as the launch of AR coloring activity books and AR covering box sets, is likely to captivate new customer base in the market. However, the huge cost of these toys is likely to restrain the smart toys market size.

Regional Drivers

By region, the North America region is projected to dominate the overall smart toys market over the forecast period. As per the smart toys market report, the increasing adoption of the pioneering technological system in the toy industry and the accelerating disposable income of the consumers will drive the market growth. Also, the Asia-pacific region is forecasted to witness a favourable CAGR during the forecast period. The rapid expansion in the population base of children in Asian countries has strengthened the market growth.

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