NEW YORK, June 30, 2022 /PRNewswire/ -- The introduction of subscription services for STEM toys is expected to be a key trend of the Science, Technology, Engineering and Mathematics (STEM) Toys Market share growth. Many online retailers provide subscription services for STEM toys in addition to retail services. The shift toward context-based education has increased the adoption of STEM toys in the learning environment. Amazon launched its STEM toy club subscription service with a focus on working parents. The company provides a STEM toy that encourages learning about core STEM aspects, for a chargeable monthly subscription fee. STEM toys are handpicked by STEM experts to ensure safety and compatibility to age groups (3-5 years, 5-7 years, and 8-13 years). Subscription services for STEM toys are expected to increase awareness about them and educational toy products. This will offer vendors the potential to expand their customer base. For instance, in September 2019, JOANN and GoldieBlox offered a plan to sign up for the GoldieBlox Box, a monthly craft subscription box to encourage the development of STEM skills in kids.
For more analysis regarding the current global market scenario and the overall market environment. Download Sample Report
The STEM Toys Market value is set to grow by USD 964.09 million, progressing at a CAGR of 5% from 2020 to 2025, as per the latest report by Technavio.
STEM Toys Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 5% |
Market growth 2021-2025 | $ 964.09 million |
Market structure | Fragmented |
YoY growth (%) | 3.86 |
Regional analysis | APAC, North America, Europe, MEA, and South America |
Performing market contribution | APAC at 35% |
Key consumer countries | US, Japan, China, France, and Canada |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Elenco Electronics Inc., Hasbro Inc., Johnco Productions Pty Ltd., Learning Resources Ltd., LEGO System AS, Mattel Inc., Melissa & Doug LLC, Ravensburger AG, Smartivity Labs Pvt. Ltd., and Spin Master Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
The shift in learning approaches from traditional exam-based education toward a context-oriented approach in educational institutions significantly contributes to the growth of the market. The adoption of STEM toys in classrooms enables teachers and students to link core concepts such as critical thinking, statistics, creativity, and argumentation with game-based learning and practical examples. This enables students to sync their education and learning activities with industry-specific and job-oriented learning. The education sector has witnessed a shift towards an example-oriented, context-based learning approach. Students are encouraged to understand the subject better through practical examples and illustrative designs in classrooms, as opposed to rote memorization. Thus, emphasis on context-based education is expected to continue to drive the market during the forecast period.
The penetration of mobile devices such as smartphones and tablets has resulted in the emergence of several game-based learning software and applications targeted at kids of different age groups. Technological advances allow these applications to offer user-friendly interfaces, thereby enabling better engagement and operability for students. The use of easy applications, better graphics, and content interactivity, and a range of gaming options will help mobile game manufacturers attract and retain their consumers at a higher rate than traditional toy manufacturers. Many mobile application developers provide a range of interactive learning software for STEM and other disciplines at competitive prices. The prominence of mobile applications and software in STEM learning is expected to hamper the growth of the market.
More insights on the drivers, trends, and challenges that will help companies evaluate and develop growth strategies. Look out for more information on market dynamics scenario, demand & supply forces, product offerings, financial information, and SWOT analysis. All at affordable Plans
- Offline - size and forecast 2020-2025
- Online - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Elenco Electronics Inc.
- Hasbro Inc.
- Johnco Productions Pty Ltd.
- Learning Resources Ltd.
- LEGO SySTEM AS
- Mattel Inc.
- Melissa & Doug LLC
- Ravensburger AG
- Smartivity Labs Pvt. Ltd.
- Spin Master Corp.
The STEM toys market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
More vendor insights with latest product offerings & news – View with Sample Report
Smart Toys Market by Service and Geography - Forecast and Analysis 2022-2026: The smart toys market share is expected to increase by USD 4.27 billion from 2021 to 2026, at a CAGR of 11.5%. 32% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for smart toys in APAC. Find More Exclusive Research Insights Here
Educational Toys Market by Product, Age, and Geography - Forecast and Analysis 2021-2025: The educational toys market share is expected to increase by USD 28.40 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 14%. The outbreak of COVID-19 led to the closure of schools in various countries, owing to encouraging parents to opt for educational toys for their children is likely to boost the demand for educational toys in APAC during the forecast period. Find More Exclusive Research Insights Here
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline - Market size and forecast 2020-2025
- Online - Market size and forecast 2020-2025
- Market opportunity by Distribution channel
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Elenco Electronics Inc.
- Hasbro Inc.
- Johnco Productions Pty Ltd.
- Learning Resources Ltd.
- LEGO System AS
- Mattel Inc.
- Melissa & Doug LLC
- Ravensburger AG
- Smartivity Labs Pvt. Ltd.
- Spin Master Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
