Smart toys expected to grow through 2022

Eco-friendly toys are also on the rise, according to new data from research firm Technavio.
November 13, 2019

The global educational toys market is expected to post a compound annual growth rate of 11% between 2018 and 2022, according to new data from Illinois-based market research firm Technavio.

Year-over-year growth for 2018 is estimated at 8.67% and, moving forward, 36% of anticipated growth is expected to come from the APAC region.

According to the study, the popularity of educational products and smart toys, in particular (including AI-based products, internet-connected devices and digital toys), is growing due to their ability to improve kids’ academic, motor and cognitive skills.

And it’s not just parents who see the benefit of smart toys. A recent study from The LEGO Group found two-thirds of British kids ages seven to 10 say digital toys have enhanced their problem-solving skills.

Environmentally friendly products are also growing in popularity. Technavio’s study found these so-called green toys will contribute to overall market growth through 2022. The demand is coming directly from kids. A recent Viacom survey of 5,724 kids ages six to 11 found that 74% of children say they care “a lot” about the environment. Additionally, 45% of kids surveyed said they worry they aren’t personally doing enough to protect the environment.

Toycos like Hasbro are already on the eco-friendly track, with the Rhode Island-based company phasing out plastic from its product packaging starting next year. The toymaker plans to eliminate all plastic for new products by the end of 2022, including polybags, elastic bands, shrink wrap, window sheets and blister packs.

Technavio’s report segmented the global educational toys market by product (academic, cognitive, motor skills and other), age group (under the age of four, ages four to eight and kids eight and older) as well as geography (the Americas, APAC and EMEA).

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