STEM Toys Market to Grow with a CAGR of 8.9% Globally through to 2028
Growing emphasis on STEM education, the integration of digital platforms
in STEM education are factors driving the Global STEM Toys market in the
forecast period 2024-2028.
According to TechSci Research report, “Global STEM
Toys Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global STEM Toys Market stood at USD 5.22 billion
in 2022 and is anticipated to grow with a CAGR of 8.9% in the forecast period,
2024-2028. The STEM (Science, Technology, Engineering, and Mathematics) toys
market is a dynamic and rapidly evolving sector that reflects the intersection
of education, play, and technology. As society places increasing importance on
developing skills in these critical fields, STEM toys have emerged as powerful
tools for fostering learning in an engaging and hands-on manner.
The global STEM toys market is experiencing several
significant trends, including the integration of augmented reality and virtual
reality, an emphasis on inclusivity and diversity, the rise of sustainable and
eco-friendly toys, the gamification of STEM learning, a focus on early
childhood STEM education, the integration of artificial intelligence, and
collaborations with educational institutions. These trends collectively shape
the evolving landscape of STEM toys, making them more engaging, diverse, and aligned
with the educational needs of today's children.
Browse over 26 market data Figures spread
through 188 Pages and an in-depth TOC on "Global STEM Toys Market”
Building blocks and construction sets form a
cornerstone of the STEM toys market. These toys, exemplified by industry
leaders like LEGO, encourage spatial reasoning, creativity, and basic
engineering principles. The versatility of these sets allows children to create
structures, vehicles, and even simple machines, fostering a hands-on
understanding of physical concepts. Robotics kits have gained popularity for
introducing children to the world of programming and engineering. These kits
often include components like motors, sensors, and programmable controllers,
enabling kids to build and code their own robots. As the demand for coding
skills rises, robotics kits play a crucial role in preparing the next
generation for a tech-driven future.
Science kits cover a broad spectrum of
STEM topics, from chemistry and physics to biology and environmental science.
These kits typically include experiments and materials that allow children to
explore scientific principles in a safe and interactive way. The hands-on
nature of these toys makes abstract concepts tangible and accessible. With the
increasing emphasis on computer science education, coding and programming toys
have become prominent in the STEM market. These toys use simplified coding
languages or visual interfaces to introduce children to the basics of
programming. By making coding accessible and enjoyable, these toys lay the
foundation for future proficiency in technology-related fields.\
The future of the STEM toys market looks
promising, with continued innovation expected in terms of technology
integration, sustainability practices, and educational efficacy. As the demand
for STEM skills in the job market grows, the market is likely to witness
further expansion, driven by a shared commitment from educators, parents, and
manufacturers to prepare the next generation for success in an increasingly
STEM-oriented world. In conclusion, the STEM toys market is a dynamic and
evolving landscape, shaped by technological advancements, changing educational
priorities, and a commitment to fostering skills essential for the future. The
market's continued growth hinges on addressing challenges and embracing trends
that align with the evolving needs of young learners worldwide.
The Global STEM Toys Market is segmented into type, age
group, distribution channel, regional distribution, and company.
Based on age group, the market is segmented into Below
3 years, 3 - 8 years, 8 - 12years, Above 12 years, The market's fastest-growing
sector is the 8–12 year old group. As a result of the growth of capabilities
and diversification of tactics, vendors are giving priority to offering and
promoting items for this demographic. The 3 to 8 year old age group comes after
this one.
Based on region, North America is one of the largest
growing regions of the Stem Toys Market. The high purchasing power, inclination
towards electronic products, and high urbanization are the few factors
influencing the growth of the market in North America. The US holds the highest
share followed by Canada as a result offering scope for growth in future years.
Major companies operating in Global STEM Toys Market
are:
- LEGO Group
- Hasbro
- Mattel
- VTech
- LeapFrog
- Spin Master
- Thames & Kosmos
- Educational Insights
- Learning Resources
- Melissa & Doug
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“The STEM toys market has experienced remarkable
growth in recent years, propelled by a global emphasis on science, technology,
engineering, and mathematics education. With a surge in awareness regarding the
importance of cultivating STEM skills from an early age, parents, educators,
and policymakers are actively seeking engaging learning tools. The market has
responded with innovative products, incorporating advanced technologies,
promoting inclusivity, and emphasizing sustainability. As the demand for STEM-educated
individuals in the workforce continues to rise, the market is expected to
expand further, offering a diverse range of educational toys that inspire
curiosity, creativity, and critical thinking in the next generation.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“STEM Toys Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Science, Technology, Engineering, Mathematics),
By Age Group (Below 3 years, 3 - 8 years, 8 - 12years, Above 12 years), By Distribution
Channel (Hypermarkets/Supermarkets, Specialty Stores, Online, Others), By Region, By Competition, 2018-2028”, has evaluated
the future growth potential of Global STEM Toys Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global STEM Toys Market.
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