The science, technology, engineering and mathematics (STEM) toys market size will grow by over USD 914.37 million during 2019-2023. This report offers an analysis of the market based on distribution channel (offline channels and online channels). STEM toys market research report further presents in-depth insights into the growth prospects of the market across geographic regions such as APAC, Europe, MEA, North America, and South America. The report analyzes the market’s competitive landscape and offers information on several companies including Hasbro, Learning Resources, LEGO Group, Mattel, and Spin Master.
Global Science, Technology, Engineering, and Mathematics Toys Industry Overview
The growth of collaborative environment in educational institutions is encouraging the adoption of STEM toys in classrooms. This is one of the critical reasons that will drive the science, technology, engineering and mathematics toys market’s growth. STEM toys provide a context-based learning approach improving students’ participation in STEM subjects. For instance, the Next Generation Science Standards, adopted in the US, encourages curiosity and inquiry for science subjects.
AI-powered STEM toys are gaining prominence among working parents as it offers customizability for a range of lessons in core STEM disciplines and coding. The rising application of AI in STEM toys will drive the market growth at a CAGR of almost 5% during the forecast period. Vendors are designing smart STEM toys using cloud-based artificial intelligence software platforms.
Top STEM toys companies covered in this market research report
The science, technology, engineering, and mathematics toys market is moderately fragmented. By providing a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this science, technology, engineering, and mathematics toys industry analysis report will allow the clients to identify new growth opportunities and design innovative strategies to improve their share in the market.
The report offers a complete analysis of various companies including:
STEM toys market segmentation based on geographic regions
APAC will hold the highest market share in the global STEM toy market throughout the forecast period. The shift from rote learning to context-oriented and example-based learning approaches in countries such as India, China, and Japan is one of the major reasons for high growth of the science, technology, engineering, and mathematics toys market in this region.
STEM toys market segmentation based on distribution channel
The offline channels’ segment will account for the highest share of the STEM toys market due to the growing investment in traditional commerce and increased number of specialty stores that provide scientific and educational toys.
Key highlights of the global science, technology, engineering and mathematics (STEM) toys market for the forecast years 2019-2023:
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the science, technology, engineering, and mathematics (STEM) toys market during the next five years
Precise estimation of global science, technology, engineering and mathematics (STEM) toys market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the science, technology, engineering and mathematics (STEM) toys industry across various geographies such as APAC, Europe, MEA, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details on factors that will challenge the growth of STEM toys companies