Global STEM (Science, Technology, Engineering & Mathematics) Toys Market 2020-2025: Tapping the Omnichannel Opportunity & Increased Demand For Robotic Toys
DUBLIN, Nov. 26, 2020 /PRNewswire/ -- The "STEM Toys Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global STEM toys market report
The global Science, Technology, Engineering & Mathematics (STEM) toys market by revenue is expected to grow at a CAGR of 7% during the period 2020-2025.
The analysis of the global STEM toys market forecasts that the industry will witness 1.5X times growth during the forecast period. The market is expected to observe significant growth because of the emergence of robotics, STEM-based courses, the need for cognitive and mental development, and the rise in millennial spending for nostalgia.
However, the market is heading toward sustainable growth due to the rise in sustainability practices in the global STEM toys market. Manufacturers, distributors, retailers, and buyers are paying attention to the concept. Sustainable platforms such as exchange platforms and toy subscriptions can be focused on in the coming years. Global toy fairs are more likely to increase the awareness and scope for sustainable materials in the near future, which could have a high impact on the global toys industry.
Insights by Geography
North America was the largest STEM toys market with a share of contributed over 33% in 2019. Factors such as a high spending power among millennials, inclination toward interactive electronic games, and high urbanization drive the growth of the educational toys market in North America. The US is the largest market in the region, followed by Canada, offering a high scope room for growth in the coming years.
The toy community in the US is highly dedicated to manufacture and distribute learning toys that are safe, fun, valuable, and comply with the country's rigorous standards and regulations. When it comes to the gaming industry, there is a cultural disparity between North Americans and Europeans.
Traditionally, North Americans used to enjoy light board games such as collectible card games and tabletop board games that are based on the luck or chance factor. The region was less inclined toward tabletop board games, which are cooperative and competitive in nature and involve critical thinking. However, the scenario has changed in the last three years as the demand for fun, engaging, and learning toys increases among kids and teenagers.
Insights by Vendors
LEGO, Hasbro, and Mattel are enjoying a strong position in the global science, technology, engineering, and mathematics toys market. However, the market still consists of small yet key vendors such as Ravensburger, Spin Master, Learning Resources, Sphero, and Melissa & Doug. With a sufficient number of vendors across all regions, the consumer's choice has been elaborated, making the competition more intense.
The STEM toy market can be more versatile in nature, keeping pace with the latest market trends, and the competition is highly crucial for market success. Smaller vendors tend to reduce their games' prices, forcing established vendors to slash their retail prices or suffer losses. 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.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Covid-19 Impact
8 Market Opportunities & Trends
8.1 Sustainable And Eco-Friendly Stem Toys
8.2 Tapping The Omnichannel Opportunity
8.3 Demand For Robotic Toys
9 Market Growth Enablers
9.1 Need For Motor Skills And Cognitive Development
9.2 Boom In Crowdfunding Platform
10 Market Restraints
10.1 Online And Mobile Gaming Platform
10.2 Stringent Safety Regulations And Guidelines
10.3 Licensing And Counterfeit Products
11 Value Chain
11.1 Value Chain Analysis
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13 Category
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Science
13.4 Technology
13.5 Engineering
13.6 Mathematics
14 Age Group
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 0-3 Years
14.4 3-8 Years
14.5 8-12 Years
14.6 12+ Years
15 Distribution Channel
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Specialty Stores
15.4 Online
15.5 Supermarkets & Hypermarkets
15.6 Departmental Stores
15.7 Others
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
Competitive Landscape
Prominent 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
For more information about this report visit https://www.researchandmarkets.com/r/uzpfu9
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