Report ID : AMR1004156 | Industries : ICT | Published On :December 2023 | Page Count : 155
Global Robotic Toys Market Size, Trends and Growth opportunity, By Type (Wheeled Robot, Humanoid Robot, Others), By Applications (Children, Adults), Regional Outlook, Competitive Market Share & Forecast, 2023 – 2030.
Global Robotic Toys Market
The Global Robotic Toys Market was valued at USD 5,173.40 million in 2022 and is expected to reach USD 2,05,001.00 million by 2030 at a CAGR of 50.29% from 2023-2030.
Robots combine sensors, computation, and motors to interact smartly & intelligently with their environment. Robotic toys need to be so cheap and robust that they can be used as playthings. The purpose of a robot toy is that, it has specific skills designed to give kids who need it a little extra help in areas in which they might be struggling or lacking. But they can also simply provide a fun and tech-forward way for young generation to learn basic skills through play.
Market Drivers
The educational industry continues to grow speedily with changing student needs. Incorporating advanced equipment in teaching classroom has become a requirement for educational institutes in the modern world to attain optimum results. This has conveyed autonomous robot toys into the spotlight. The major market players, leading companies, continuously develop autonomous robot toys that deliver better interactive and practical learning experience. They are adding new technologies in these robotic toys to make them more user-friendly and efficient. Rapid technical development has made it possible to create sophisticated and cutting-edge robot toys in the robotics sector. These toys have features including gesture control, voice recognition, and facial recognition. As a result, consumers are looking for more engaging and interesting toys, which has raised demand for robot toys.
Another element boosting the demand for robot toys is consumers' rising disposable income. Consumers are more likely to buy more expensive toys, including robot toys, as disposable incomes rise. Therefore, increasing demand of autonomous robot toys in educational industry is expected to drive the market growth rate.
Market Restraints
During the forecasted period, high initial costs and high maintenance costs are anticipated to act as some of the major market growth restraints, while a lack of public awareness of the technology behind autonomous robot toys could impede market expansion. The market for robot toys is not standardised, which makes it challenging to create a global product. This is so that consumers can better understand the features and advantages of a given product. This is since various manufacturers employ various components and technology.
Robot toys have a short lifespan since both technology and customer preferences are constantly evolving. Due to different laws, such as safety standards, which might make it challenging for manufacturers to enter the market, it is difficult for manufacturers to stay up with the changing trends and produce new goods. Additionally, the creation and marketing of robot toys are subject to various regulations.
Impact Of COVID-19 On Market
The COVID-19 pandemic, that began in China and spread throughout the world, and has had an impact on the autonomous robot toys market. This problem has impacted most autonomous robot toys makers, and it is projected to have a medium-term impact. This is mostly due to the temporary shutdown of robotics-related institutions, universities, and training institutes. It is anticipated that this issue would have a medium-term impact on most manufacturers of autonomous robot toys. This is mainly because colleges and training facilities that deal with robotics have temporarily stopped down. Participants in the market have noticed a decline in sales as a result.
With only a 3% reduction from Q3 2022 to Q3 2022, the situation did improve in Q3 2022. Due to COVID-19, the market experienced tremendous growth among high- and middle-income consumers, inspiring the big companies to develop several stay-at-home product lines. During the epidemic, online retail of products dominated toy and game sales. However, the market is expected to recover in the coming years, as parents will be more likely to purchase toys for their children to cope with the pandemic. Furthermore, the increasing popularity of online shopping and the increasing use of robots in the home is expected to drive the growth of the market. Additionally, the increasing trend of using robots in education and entertainment is expected to drive the growth of the market.
Impact of Russia-Ukraine Conflict on Global Robotic Toys Market
Negative impacts are globally foreseen, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States. This contention has severely affected people's lives and livelihoods and represents far-reaching disruptions in trade dynamics. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The potential effect of the war had, adverse impact on the market of Global Robot Toys Market.
Post war affects toys have helped Ukraine – Russia Kids to process War Trauma. The Russia-Ukraine war has the potential to exacerbate supply chain issues and the raw material shortage that has impacted the industry for the past two years. The most immediate risk is to the supply of specific raw materials used in robotic Toys manufacturing such as neon and palladium.
Market Segmentation
The Global Robotic Toys Market is segmented into Type, and Applications.
Based on Applications, the Children segment accounted for largest revenue share of million 3,024.75 in the year 2022, followed by Adults segment with value of 2,148.65 in the year 2022.
Regional Analysis
The Global Robotic Toys Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on region, North America held the largest share in 2022 and it is expected to account for the highest CAGR of the Robot Toys Market by 2030. The U.S. is expected to contribute higher value in the North American Robot Toys Market through 2022, owing to the high adoption rate of autonomous robot toys in educational institutes and to the rapid advancements in science in this region.
Key Players
Various key players are discussed into the Global Robotic Toys Market Report including: Abilix, Bluefrog Robotics, Fischertechnik, Lego, Modular Robotics, Parallax, Inc., Pitsco, ArcBotics, Robotis, and SoftBank Robotics.
For Instance, in 2018, Quark Software Inc. was acquired by Parallax Capital Partners, LLC (Parallax), a Southern California-based software-focused private equity firm. The new owners intend to help Quark accelerate the adoption of its transformational content automation solutions through investment in organic growth and acquisitions.
Market Taxonomy
By Type
• Wheeled Robot
• Humanoid Robot
• Others
By Application
• Children
• Adults
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
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Global Robotic Toys Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Robotic Toys Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Impact Of COVID-19 On Market
4.2.5 Cumulative Impact Due to Recent Energy Crisis
4.2.6 Cumulative Impact Due to Nearing Economic Downturn
4.2.7 Post Covid-19 World Supply & Demand Conditions
4.2.8 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Robotic Toys Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Robotic Toys Market Share Analysis, By Type
5.3 Global Robotic Toys Market Size and Forecast, By Type
5.3.1 Wheeled Robot
5.3.2 Humanoid Robot
5.3.3 Others
6 Global Robotic Toys Market, By Applications
6.1 Y-o-Y Growth Comparison, By Applications
6.2 Global Robotic Toys Market Share Analysis, By Applications
6.3 Global Robotic Toys Market Size and Forecast, By Applications
6.3.1 Children
6.3.2 Adults
7 Global Robotic Toys Market, By Region
7.1 Global Robotic Toys Market Share Analysis, By Region
7.2 Global Robotic Toys Market Size and Forecast, By Region
7.3 Global Robotic Toys Market Trends and Forecast, By Region
8 North America Robotic Toys Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Robotic Toys Market Size and Forecast, By Type
8.3 North America Robotic Toys Market Size and Forecast, By Applications
8.4 North America Robotic Toys Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Type
8.4.1.2 Market Size and Forecast, By Applications
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Type
8.4.2.2 Market Size and Forecast, By Applications
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Type
8.4.3.2 Market Size and Forecast, By Applications
9 Europe Robotic Toys Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Robotic Toys Market Size and Forecast, By Type
9.3 Europe Robotic Toys Market Size and Forecast, By Applications
9.4 Europe Robotic Toys Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Type
9.4.1.2 Market Size and Forecast, By Applications
9.4.2 France
9.4.2.1 Market Size and Forecast, By Type
9.4.2.2 Market Size and Forecast, By Applications
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Type
9.4.3.2 Market Size and Forecast, By Applications
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Type
9.4.4.2 Market Size and Forecast, By Applications
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Type
9.4.5.2 Market Size and Forecast, By Applications
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Type
9.4.6.2 Market Size and Forecast, By Applications
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Type
9.4.7.2 Market Size and Forecast, By Applications
10 Asia Pacific Robotic Toys Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Robotic Toys Market Size and Forecast, By Type
10.3 Asia Pacific Robotic Toys Market Size and Forecast, By Applications
10.4 Asia Pacific Robotic Toys Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Type
10.4.1.2 Market Size and Forecast, By Applications
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Type
10.4.2.2 Market Size and Forecast, By Applications
10.4.3 India
10.4.3.1 Market Size and Forecast, By Type
10.4.3.2 Market Size and Forecast, By Applications
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Type
10.4.4.2 Market Size and Forecast, By Applications
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Type
10.4.5.2 Market Size and Forecast, By Applications
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Type
10.4.6.2 Market Size and Forecast, By Applications
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Type
10.4.7.2 Market Size and Forecast, By Applications
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Type
10.4.8.2 Market Size and Forecast, By Applications
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Type
10.4.9.2 Market Size and Forecast, By Applications
11 Latin America Robotic Toys Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Robotic Toys Market Size and Forecast, By Type
11.3 Latin America Robotic Toys Market Size and Forecast, By Applications
11.4 Latin America Robotic Toys Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Type
11.4.1.2 Market Size and Forecast, By Applications
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Type
11.4.2.2 Market Size and Forecast, By Applications
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Type
11.4.3.2 Market Size and Forecast, By Applications
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Type
11.4.4.2 Market Size and Forecast, By Applications
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Type
11.4.5.2 Market Size and Forecast, By Applications
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Type
11.4.6.2 Market Size and Forecast, By Applications
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Type
11.4.7.2 Market Size and Forecast, By Applications
12 Middle East Robotic Toys Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Robotic Toys Market Size and Forecast, By Type
12.3 Middle East Robotic Toys Market Size and Forecast, By Applications
12.4 Middle East Robotic Toys Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Type
12.4.1.2 Market Size and Forecast, By Applications
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Type
12.4.2.2 Market Size and Forecast, By Applications
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Type
12.4.3.2 Market Size and Forecast, By Applications
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Type
12.4.4.2 Market Size and Forecast, By Applications
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Type
12.4.5.2 Market Size and Forecast, By Applications
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Type
12.4.6.2 Market Size and Forecast, By Applications
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Key Development Strategies
14 Company Profiles
14.1 Abilix
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Bluefrog Robotics
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Fischertechnik
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Lego
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Modular Robotics
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Parallax, Inc.
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Pitsco
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 ArcBotics
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Robotis
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 SoftBank Robotics
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
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