Global Smart AI Toys market 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 14.7 % during the forecast period 2022 to 2030.
Toys with some level of artificial intelligence are referred to as AI smart toys because they can learn, modify how they interact with the user, respond to outside stimuli, and act in predictable ways. Children can have a personalized, interactive play or learning experience with AI smart toys that also aid in the development of a variety of talents and abilities. Smart toys are interactive electronic toys by definition. These toys have predetermined behaviors and can alter those behaviors in response to outside stimuli. They can change to fit the player’s skills. These toys are driven by cloud computing, artificial intelligence, and sensor-based technologies that react to player actions or preprogramming.
The fast growth of the Internet of Things has led to a rise in smart, connected gadgets that can be used for many different things. The Internet of Things (IoT), Artificial Intelligence (AI), Smart Devices, and many other technologies are used in smart toys to help children learn and have more fun.At a yearly growth rate of 18.0%, the size of the global smart toys market went from $12.14 billion in 2022 to $13.92 billion in 2023. At least in the short run, the Russia-Ukraine war made it harder for the world economy to get back on its feet after the COVID-19 pandemic. The war between these two countries has caused economic bans on many other countries, a rise in commodity prices, and problems in the supply chain. This has caused prices of goods and services to go up and has hurt many markets around the world. At a CAGR of 14.7%, the market size for smart toys is projected to grow to $36.377 billion by 2030.
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The growth of the market in the next few years will be driven in large part by the growing number of people in the middle class and the number of people who own smartphones. Also, customers are more likely to buy technology-driven toys because computers, smartphones, and social media are making people more aware of smart toys.
With built-in software that can recognize words and images, connect to apps, work with RFID tags, and search the web, these toys give kids a personalized way to play. For example, CogniToys’ Dino uses Wi-Fi to stay linked and IBM Watson’s natural language processing technology to adapt its answers to the child’s age and skill level.
The fast growth of the Internet of Things has led to the rise of smart, connected gadgets that can be used for a wide range of tasks. Smart AI toys use technologies like the Internet of Things (IoT), artificial intelligence (AI), smart gadgets, and more to help kids learn and have fun. The toy gives kids a personalized play experience because it has built-in software that can recognize sound and image, work with apps, read RFID tags, and let kids browse the web. For example, CogniToys’ Dino stays connected with Wi-Fi and uses IBM Watson’s natural language processing technology to adapt its answers to the child’s age and skill level.
One of the main things causing the demand for smart AI toys is the use of STEM (science, technology, engineering, and math) toys to improve children’s skills. Smart AI toys improve skills like coding and engineering by letting kids connect with them and learn from their actions. Parents always want to buy their kids things that will help them learn and grow, which will make smart AI toys even more popular. SmartGurlz toys and other firms teach girls how to code. There are many features, like direct and two-way communication that helps personalize the toy, real-time tracking of children’s activities, and the ability to keep personal information like the child’s name, photos, and voice recordings. Smart AI toy bears are sold by companies like Fisher-Price. You can use the smart AI toys app on your phone to handle the bears. Over the next few years, the market is likely to be driven by these new ideas. During the forecast period, the rise of 5G technology is likely to increase the use of smart gadgets and toys.
Market Segmentation
The Smart AI Toys market research report is broken down by type, applications, and region.
On the basis of Type
- Smartphone Connected
- Tablet-Connected
On the basis of Application
- Online Stores
- Specialty Stores
- Convenience Stores
On the basis of Age
- 0-3 years
- 3-8 years
- 8-12 years
Key Vendors
- 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.
Conclusion
The study report has a lot of information about new trends, drivers, and restraints that can change how the market works in the industry. It goes into detail about each market area, including the products, how they are used, and who the competitors are. The study estimates the potential of the Smart AI Toys market by looking at growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level for different product types, applications, and industry verticals. The study report has a lot of information. It talks about how toys are getting smarter quickly, with IoT and AI technology being used by different companies. This, along with more research and development for consumer safety, is likely to bring in more customers. This is likely to make the market grow in the years to come. It is a professional and detailed study that looks at the main and secondary drivers, market share, leading segments, and geographical analysis. The study also looks at key players, important partnerships, mergers and acquisitions, and trends in innovation and business policies.
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