Vendors in the STEM toys market are focusing on educational segment to encourage cognitive thinking at a faster pace.
According to the latest Arizton's market research report, the STEM toys market size to cross USD 9.5 billion by 2025, growing at a CAGR of 7% during the forecast period.
STEM Toys Market Growth
STEM toys are considered as an effective medium for developing the skill set of the children. Learning is a major aspect driving the sales of educational toys. The toys are like engineering sets that can help them in building motor skills and hand-eye coordination. STEM toys are also introduced for kids to easily grasp math and science concepts which in turn, enforces more confidence in children to face everyday problems. Vendors in the STEM toys market are focusing on educational segment to encourage cognitive thinking at a faster pace. The toy industry and the governments are making efforts to gearing up for the new phase of growth in the upcoming era through the implementation of science, coding, programming, and robotics which was niche earlier.
Tapping the Omnichannel Opportunity
Vendors catering to the STEM toys market is leveraging the global retail trends. The retail environment today is undergoing significant transformations, and the onus is on vendors to capitalize on these emerging trends and quickly react to the same. The STEM toy boxes are gaining traction among parents since they offer a limited number of toys based on the interest and age of the children as well as minimize the number of toys in the house at any given time. Ensuring the correct and accurate availability of their products across the retail shelves remains critical in terms of future expansion.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by age group, category, distribution, and geography
- Competitive Landscape – 5 Key Company Profiles and 20 Other Prominent Vendors
STEM Toys Market – Geographic Analysis
North America was the largest contributor for STEM toys market globally. The factors such as high spending power of the millennials, inclination towards interactive electronic games, and high urbanization are driving the growth of the educational toys market in the region. The stimulation in interest and preference for the indoor learning games is expected to fuel the sales throughout the forecast period especially during 2020. Latin American population has shown unprecedented interest in both branded as well as private label toys. Popularity of toys in this region has grown tremendously, even though several toys and games are available only through imports.
The expansion of competition across regions leads to shorter life cycles of products in the STEM toys market. The emergence of more and more vendors has led to the frequent introduction of new products. The STEM toys market can be more versatile in nature keeping in pace with the latest market trends and competition that is highly crucial for market success. Vendors are considering adopting the digital/online route for pitching their products across international borders and the high probability of reaching out to the maximum number of customers. Online distributors can promote a wide variety of toys and represent many manufacturers, with limited overheads and lower costs. The presence of exclusive toy stores such as Toys ‘R’ Us across the globe has further driven the STEM toys market demand for a wide variety of learning games.
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