STEM Toys Market Size to Reach Revenues of USD 9.5 Billion by 2025 - Arizton

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Nov 10, 2020, 11:00 ET

CHICAGO, Nov. 10, 2020 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global STEM toys market report.

The global STEM toys market is expected to grow at a CAGR of approximately 7% during the period 2019−2025.

Key Highlights Offered in the Report:

By category, the technological toys accounted for over 45% of the total revenue in 2019 driven by the demand for coding, AI, and robotic toys.
The 0-3 years segment that is expected to generate an incremental revenue of over USD 268 million and is dominated by players such as Hasbro, Mattel, LeapFrog, and Baby Einstein.
Specialty services are the dominant physical distribution channels owing to the personalization of services and is expected to grow at a CAGR over 6% by 2025.
With a global market share of over 30%, the parents in the US considers STEM toys as an ideal alternative for screen time in digital era.
Robotic hands, magnet kits, illuminated globe, and AI-based flashcards were more popular amongst consumers during the pandemic in the UK.
APAC region is expected to grow at the fastest CAGR of over 7% with major growth happening in India, Japan, Malaysia, Thailand, and China during the forecast period.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by age group, category, distribution, and geography
Competitive Landscape – 5 key vendors and 20 other vendors

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STEM Toys Market – Segmentation

The science segment is expected to pose an absolute growth of 44% during the forecast period. Europe and North America are likely to grow at impressive growth rates. Gravity, lighting, physical laws, chemical projects, and geographic exploration are the major themes contributing to revenue generation in the segment.
The 8–12 age group segment is estimated to be the fastest-growing segment during the forecast period. Vendors prioritize their offerings and promote products toward this age group because of the development of skills and diversified field of strategies. Parents consider 8–12 years as an ideal age for utilizing STEM education toys that support academics.
Online channels consist of websites and third-party sellers that sell games via online stores. They are estimated to be the fastest-growing distribution channels during the forecast period. The growth in digital gaming platforms has indirectly influenced the growth of the online purchase of games.

STEM Toys Market by Age Group

0–3 years
3–8 years
8–12 years
12+ years

STEM Toys Market by Categories

Science
Technology
Engineering
Mathematics

STEM Toys Market by Distribution

Online
Offline

Supermarkets & Hypermarkets
Departmental Stores
Specialty Stores
Others

STEM Toys Market – Dynamics

Sustainability can be an upcoming potential trendsetter in the STEM toys industry despite being more difficult to achieve them. It is a tougher scenario for the vendors in this industry than most other businesses as the majority of the toys are made up of plastic, which is not feasible for commercial and economical aspects. As the removal of plastic from the toys is not possible, the vendors are addressing the issue through certain aspects, as sustainability is a growing concern in today's consumer market. A sustainable vision is expected to be reflected in the company's ethos. Choosing sustainable STEM toys are also a great way to lead an ethical way of life by caring for the planet. Also, nowadays, parents are looking for toys that are less harmful, eco-friendly and chemical-free (toxin less). Toys like Detective Dot is a perfect coding adventure for the kids, which also enhances the concept of sustainability.

Key Drivers and Trends fueling Market Growth:

Tapping the Omnichannel Opportunity
Demand for Robotic Toys
Need for Motor Skills and Cognitive Development
Boom in Crowdfunding Platform

STEM Toys Market – Geography

In terms of revenue, North America accounted for over 33% market share in the STEM toys market in 2019. The region has historically represented a prominent level of enthusiasm toward toys and games, whereas the landscape for learning toys is rising. The toys market in North America is expected to witness traction and high demand, owing to the impact of COVID-19 post-2020. Moreover, an increase in annual savings of end-users and their enhanced spending sentiments due to the economic recovery have increased the demand for sophisticated and high-end toys in US households. However, factors such as declining birth rate, higher saturation level, high smartphone penetration, and the growing popularity of online games can be major challenges for the market growth during the forecast period.

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STEM Toys Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain
Russia
Netherlands

APAC

China
Japan
South Korea
Australia
India
Thailand
Singapore

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
UAE
South Africa

Major Vendors

LEGO
Mattel
Hasbro
Learning Resources
Melissa & Doug

Other Prominent Vendors

Spin Master
K'NEX
Ravensburger
Goliath
VTech Electronics
LeapFrog Enterprises
ThinkFun
com
WowWee Group Limited
ELENCO ELECTRONICS
net
Digital Dream Labs
Sphero
Johnco
Smartivity
Magna-Tiles
OWI
Thames & Kosmos
SmartLab
Klutz

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence