According to projections, the market for connected toys would increase from USD 9.3 billion in 2023 to USD 24.1 billion by 2028, at a CAGR of 20.7% from 2023 to 2028.
Several strong drivers support the dynamic growth of the connected toys market in the Asia Pacific region.
This impetus is further amplified by the area’s tech-savvy populace as better digital infrastructure opens the door for seamless connectivity. Additionally, the relationship between education and entertainment becomes more prominent as a result of a focus on children’s growth and learning.
The appeal of licensed characters and the growing middle-class population have boosted the appeal of connected toys. . Government assistance, an increase in public understanding of child development, and aggressive innovation all contribute to the region’s market’s dynamism.
These interactive toys, which include Wi-Fi, Bluetooth, and other internet connectivity features, not only fascinate young minds but also span the divide between entertainment and education.
The Asia Pacific connected toys market is proof that technology and play can coexist as a varied ecosystem of important companies works together to address these demands.
The Wi-Fi sector will account for a bigger market share during the projection period due to technology.
Improved connectivity, access to cloud-based content, remote control and monitoring, social play capabilities, firmware updates, data collection for personalization, simple setup and integration, a seamless user experience, and future-proofing capabilities are the driving forces behind the Wi-Fi segment in the connected toys market.
Wi-Fi connectivity gives connected toys improved capabilities, individualized experiences, and smooth interactions, which helps explain why Wi-Fi-enabled connected toys are becoming more and more well-liked and widely used by both kids and parents.
With regard to application, component, deployment, organization size, application, vertical, and region, it tries to estimate the market’s size and growth potential for each of these sub-segments. The study contains a thorough competition analysis of the top market participants, as well as information about their companies, significant findings regarding their product and service offerings, recent advancements, and market strategies.
Pentoz is a leading business innovation firm for new business ideas focusing on Web, Mobile and Gaming Apps Development.
Based in Texas, London, Bengaluru, Coimbatore, and Ooty building apps for startups and fortune 500 clients.
