AI Smart Toy Market Trends and Forecast
The future of the global AI smart toy market looks promising with opportunities in the educate and entertainment markets. The global AI smart toy market is expected to grow with a CAGR of 14.6% from 2024 to 2030. The major drivers for this market are increasing adoption of educational toys and growing trend towards edutainment.
• Lucintel forecasts that toy robot is expected to witness the highest growth over the forecast period.
• Within this market, educate is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Smart Toy Market
• United States: In the United States, companies like Mattel have been pioneering AI Smart Toys with initiatives such as "Hello Barbie," integrating speech recognition and interactive storytelling. Mattel aims to enhance childrenÄX%$%Xs play experiences through AI technology, targeting educational and entertainment sectors. The U.S. government supports innovation in AI and technology through initiatives like the National Science FoundationÄX%$%Xs grants for STEM education, indirectly benefiting the AI Smart Toys.
• India: In India, AI Smart Toys initiatives are emerging with companies focusing on interactive and educational products. Companies like Smartivity Labs are developing AI-enhanced STEM toys that encourage hands-on learning and creativity among children. The Indian government encourages digital literacy and innovation in education through programs like the Atal Innovation Mission, which supports startups and educational initiatives in STEM fields, indirectly promoting the AI Smart Toys market.
• China: In China, companies such as Tencent are advancing AI Smart Toys through interactive and educational platforms. TencentÄX%$%Xs initiatives include AI-powered toys that utilize voice recognition and augmented reality to engage children in learning activities. Chinese government policies support technological innovation and digital transformation in education, contributing to the growth of the AI Smart Toys market. Initiatives like the Made in China 2025 plan aim to boost domestic production of high-tech products, including smart toys, fostering a conducive environment for industry growth.
• Germany: In Germany, companies like Ravensburger have introduced AI Smart Toys focusing on educational and developmental benefits for children. RavensburgerÄX%$%Xs products integrate AI to enhance learning experiences through interactive games and storytelling. The German government supports innovation in AI and digital technologies through funding programs and initiatives that promote research and development in educational tools and technologies, indirectly supporting the AI Smart Toys market
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Smart Toy Market by Segment
The study includes a forecast for the global AI smart toy market by type, application, and region.
AI Smart Toy Market by Type [Value from 2018 to 2030]:
• Toy Robot
• VR & Artoy
• Programmable AI Smart Toy
• Others
AI Smart Toy Market by Application [Value from 2018 to 2030]:
• Educate
• Entertainment
• Others
AI Smart Toy Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Smart Toy Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI smart toy companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI smart toy companies profiled in this report include-
• Mattel
• Sony
• Roybi
• Playshifu
• Sphero
• Fisher-Price
• Wowwee
Recent Development in the AI Smart Toy Market
• Mattel : Mattel introduced "Hello Barbie," an AI-powered interactive doll equipped with speech recognition and natural language processing capabilities. Hello Barbie engages children in conversations, tells stories, and responds to questions, aiming to enhance play experiences through personalized interactions. Mattel continues to innovate in the AI Smart Toys market, integrating advanced technologies to create engaging and educational toys (source: Mattel).
• LEGO : LEGO Boost combines building with coding in an AI Smart Toy aimed at teaching children programming concepts through play. The initiative includes programmable LEGO bricks, sensors, and motors that children can use to build and control robotic creations. LEGO Boost encourages creativity and STEM learning by enabling kids to program their models to move and perform tasks, fostering computational thinking at an early age (source: LEGO).
• Anki : Anki developed "Cozmo," a small AI-powered robot designed to interact with users through facial recognition, emotions, and games. Cozmo engages users in learning activities and entertainment, offering a blend of robotics and AI technology to create a personalized companion experience. Anki focuses on AI advancements to enhance CozmoÄX%$%Xs capabilities, making it a versatile and interactive smart toy for both education and entertainment purposes (source: Anki).
• WowWee : WowWeeÄX%$%Xs MiP Robot is an AI Smart Toy that balances on two wheels and responds to gestures, sounds, and app commands. The initiative includes advanced sensors and interactive features that enable MiP to navigate its environment and perform tricks. WowWee emphasizes AI integration to enhance MiPÄX%$%Xs playability and interactivity, appealing to children and tech enthusiasts interested in robotics and smart toys
Features of the Global AI Smart Toy Market
Market Size Estimates: AI smart toy market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI smart toy market size by type, application, and region in terms of value ($B).
Regional Analysis: AI smart toy market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI smart toy market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI smart toy market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI smart toy market?
Answer: The global AI smart toy market is expected to grow with a CAGR of 14.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI smart toy market?
Answer: The major drivers for this market are increasing adoption of educational toys and growing trend towards edutainment.
Q3. What are the major segments for AI smart toy market?
Answer: The future of the AI smart toy market looks promising with opportunities in the educate and entertainment markets.
Q4. Who are the key AI smart toy market companies?
Answer: Some of the key AI smart toy companies are as follows:
• Mattel
• Sony
• Roybi
• Playshifu
• Sphero
• Fisher-Price
• Wowwee
Q5. Which AI smart toy market segment will be the largest in future?
Answer: Lucintel forecasts that toy robot is expected to witness the highest growth over the forecast period.
Q6. In AI smart toy market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI smart toy market by type (toy robot, VR & artoy, programmable AI smart toy, and others), application (educate, entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Smart Toy Market, AI Smart Toy Market Size, AI Smart Toy Market Growth, AI Smart Toy Market Analysis, AI Smart Toy Market Report, AI Smart Toy Market Share, AI Smart Toy Market Trends, AI Smart Toy Market Forecast, AI Smart Toy Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.