Smart Toys Market to Reach USD 50.76 Billion by 2032, Growing at 16.4% CAGR Driven by AI and Interactive Learning Demand
Rising adoption of AI-powered and educational toys, along with the integration of IoT and augmented reality, is fueling rapid smart toys market growth worldwide.
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According to a new report by MMR, the global Smart Toys Market was valued at USD 15.06 billion in 2024 and is projected to reach nearly USD 50.76 billion by 2032, expanding at a CAGR of 16.4% from 2025 to 2032. The surge in demand for interactive, educational, and AI-powered toys, alongside increased consumer focus on STEM learning, is driving significant growth across multiple regions.
Key Highlights
- Market size reached USD 15.06 billion in 2024 and will grow at a 16.4% CAGR (2025–2032) to USD 50.76 billion.
- Educational robots and AI-powered toys are among the leading product segments.
- North America held over 40% share in 2024, while Asia Pacific is forecasted to grow fastest.
- Key growth drivers: STEM education demand, AI & IoT integration, personalization, and sustainability in toy manufacturing.
- Top companies include Mattel Inc., Hasbro Inc., Lego System A/S, Digital Dream Labs, Sphero, Sega Toys Co. Ltd., LeapFrog Enterprises Inc.
Market Outlook
The global smart toys market is experiencing rapid expansion due to technological advancements in artificial intelligence, IoT, robotics, and augmented reality. Smart toys are increasingly being recognized not only as entertainment products but also as tools that foster problem-solving, creativity, and critical thinking skills among children. Integration with connected ecosystems, such as smart homes, is further enhancing consumer adoption.
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Regional Insights
- North America dominated the market in 2024 with more than 40% share, driven by the widespread adoption of smart home ecosystems and the growing preference for educational interactive toys.
- Asia Pacific is expected to record the fastest growth rate, fueled by rising middle-class incomes, strong demand for learning-focused toys, and initiatives by companies like Lego Group to expand in markets such as Singapore and East Asia.
- Europe continues to see steady adoption, particularly in countries with high digital penetration and demand for educational robotics.
Key Players
Prominent companies operating in the market include Pillar Learning, Sega Toys Co. Ltd., LeapFrog Enterprises Inc., Mattel Inc., Hasbro Inc., Lego System A/S, Robofi LLC, Tomy Co. Ltd., Digital Dream Labs, Sphero, Wonder Workshop, and TOSY Robotics.
Recent developments, such as Digital Dream Labs’ relaunch of Cozmo and Vector robots and the merger of Sphero with littleBits, highlight the industry’s shift toward more immersive, STEM-focused play experiences.
Quote
Smart toys are at the intersection of education, technology, and entertainment, making them one of the fastest-growing categories in the toy industry
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