Global STEM Toys Market 2021-2027
Global STEM Toys Market Size, Share & Trends Analysis Report by Age Group (0-3 Years, 3-8 Years, 8-12 Years, 12+ Years), by Category (Science, Technology, Engineering, and Mathematics), and by Distribution Channel (Online and Offline) Forecast Period (2021-2027)
The STEM toys market is anticipated to grow at a rapid CAGR of 7.1% during the forecast period. Toys play an important and effective role in the growth and development of children right from infant stage to teen phase as it nurtures their creativity and imagination. The last decade has been witnessed as a significant period for the growth in toys market, which was highly driven by education, entertainment, interactivity, development and engagement factors that served as fundamental pillars for the surge in market sales. Over the period, the toy industry has proven to be remarkably resilient, where a range of threats and opportunities are feasible for the market players in the coming years. Furthermore, with a wide range of suppliers and distributors, the flexibility of the consumers for purchasing has elevated where they can choose from reputed global vendors or a booming startup in their local region.
The STEM toys market is segmented based on age group, category, and distribution channel. Based on the age group, the STEM toys market is segmented into 0-3 years, 3-8 years, 8-12 years, 12+ years. On the basis of category, the market is segmented into science, technology, engineering, and mathematics. On the basis of distribution channel, the market is fragmented into online and offline. Technology category segment is expected to lead the market value share during the forecast period. The growth in educational robots, coding toys and smart toys is expected to drive the segment, which is highly preferred among kids and pre-teens, especially among boys. Coding and programming toys are also increasingly designed for 3-5 years children, where the demand is more prominent as per parental preferences.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is projected to be the fastest growing market for STEM toys and second largest STEM toys market, closely following North America. The largest selling categories in the toys market in the Asia Pacific were construction blocks, numerical sets, preschool science kits, whereas coding and AI based toys were more concentrated in China, Japan, and South Korea. The growth is expected to be concentrated in countries such as India, Malaysia, Singapore, and Thailand, where the STEM based professions are rising.
Lastly, the key markets for vendors are North America, Asia Pacific, and Europe. However, in the coming years, the markets in Latin America and the Middle East and Africa are also expected to witness considerable growth. Smaller vendors tend to reduce the prices of their toys and games, forcing established vendors to slash their retail prices or suffer losses. Also, the expansion of competition across regions further leads to shorter life cycles of products in the market. The emergence of more and more vendors has led to the frequent introduction of new products. This further results in users not devoting considerable time for a particular game and moving onto another one only because there are lots to pick and play from. Consumer interests are changing rapidly, making it difficult to design and develop products that will be popular with children and families or to maintain the popularity of successful brands and products.
The market study of the global STEM toys market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Global STEM Toys Market Research and Analysis by Age Group
Global STEM Toys Market Research and Analysis by Category
Global STEM Toys Market Research and Analysis by Distribution Channel
The Report Covers
Comprehensive research methodology of the global STEM toys market.
This report also includes a detailed and extensive market overview with the key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global STEM toys market.
Insights about market determinants which are stimulating the global STEM toys market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.