Connected Toys Market to Grow with a CAGR of 22.8% through 2029

The global connected toys market is driven by the increasing popularity of interactive and self-engaging toys, advancements in mobile devices and internet content, and the growing awareness and disposable income of consumers.

According to TechSci Research report, “Connected Toys Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the global connected toys market was valued at USD 10.35 Billion in 2023 and is expected to reach USD 35.49 Billion by 2029 with a CAGR of 22.8% during the forecast period. The connected toys market, a dynamic segment within the broader toy industry, has experienced significant growth driven by advancements in technology and shifting consumer preferences. Connected toys, which integrate digital and physical play through the use of smart technologies such as the Internet of Things (IoT), artificial intelligence (AI), and Bluetooth, are redefining how children interact with toys. These toys offer interactive, personalized, and educational experiences, making them appealing to both children and parents alike. The rapid development of AI, machine learning, and IoT has enabled the creation of smart toys that can learn from and adapt to a child’s behavior, providing a more personalized and engaging play experience. This technological evolution is a significant driver, making connected toys more appealing and interactive. 

There is a growing trend among parents to seek out educational toys that can aid in their child's cognitive and social development. Connected toys, often designed to enhance learning through play, are increasingly favored by parents looking to combine fun with education. This trend is particularly strong in regions with high disposable incomes and a focus on early childhood education.  The widespread availability of the internet and the increasing use of smartphones have made it easier for connected toys to integrate with apps and online platforms. This connectivity allows for enhanced features such as remote monitoring, real-time updates, and interactive content, thereby increasing the attractiveness of connected toys. As connected toys gather and process data, there are significant concerns regarding the privacy and security of children’s information. Parents are increasingly wary of potential data breaches, unauthorized access, and the misuse of personal information, which could limit the adoption of these toys. Ensuring robust data protection and transparent privacy policies is crucial for manufacturers.  The advanced technology used in connected toys often leads to higher production costs, making these toys more expensive compared to traditional toys. This price disparity can be a barrier for many consumers, particularly in price-sensitive markets, thereby limiting market growth. Some connected toys may require a learning curve for both children and parents, particularly those that involve setting up and integrating with other devices. If a toy is perceived as too complex or difficult to use, it could lead to dissatisfaction and reduced adoption.

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The global connected toys market is segmented into interface, distribution channel, region, and company. 

Based on interface, the smartphone-connected toys segment is emerging as the fastest-growing category within the connected toys market, driven by several key factors. The integration of toys with smartphones leverages the ubiquity and familiarity of these devices in modern life, making these toys more appealing to both children and parents. By using smartphone apps, these toys can offer a wide range of interactive features, including remote control, augmented reality experiences, and personalized content, which significantly enhances the play experience. One of the primary drivers of this segment's growth is the convenience it offers. Consumers are already accustomed to using smartphones, and the ability to control toys through a device they already own eliminates the need for additional hardware or learning new interfaces. This ease of use, combined with the increasing global penetration of smartphones, particularly in emerging markets, is propelling the adoption of smartphone-connected toys. The rapid advancements in smartphone technology, such as improved processing power, better graphics, and enhanced connectivity, are enabling the development of more sophisticated and engaging connected toys. As a result, the smartphone-connected toys segment is expected to witness accelerated growth, solidifying its position as a key driver in the connected toys market.

Major companies operating in global connected toys market are:

• Sphero, Inc.
• Mattel, Inc.
• Hasbro India LLP
• Wonder Workshop Inc.
• WowWee Group Limited
• LEGO System A/S
• VTech Holdings Limited 
• Nintendo Co., Ltd. 
• Jabil Inc.
• LeapFrog Enterprises, Inc. 

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“One key trend in the connected toys market is the rise of integrated educational experiences. As parents increasingly seek products that offer educational value alongside entertainment, connected toys are evolving to incorporate advanced learning features. These toys use interactive technologies, such as augmented reality (AR) and artificial intelligence (AI), to provide personalized learning experiences. For instance, some toys offer adaptive learning games that adjust their difficulty based on the child's progress, ensuring a tailored educational journey. This integration not only enhances cognitive development but also keeps children engaged through immersive and interactive play. Additionally, these toys often come with companion apps that allow parents to track their child's learning milestones and progress, adding an extra layer of educational insight. This trend reflects a growing demand for toys that contribute to a child's development while offering modern, tech-driven play experiences“. Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

 "Connected Toys Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Interface (App-based connected drones, Console connected toys, Smartphone connected toys, and Tablet connected toys), By Distribution Channel (Retailers, Online, and Specialty stores), By Region, & Competition, 2019-2029F”, has evaluated the future growth potential of global connected 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 the global connected toys market.

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