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Smart Toys Market to Reach $106.8 billion, Globally, by 2033 at 20.9% CAGR: Allied Market Research

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Asia-Pacific is expected to witness the highest CAGR during the forecast period. This is attributed to the presence of a large growth in population in the region. Moreover, economic development, rise in disposable income, and growth in awareness regarding smart toys coupled with rapidly growing e-commerce in the region are collectively expected to drive the growth of the smart toys market in the region.

WILMINGTON, Del., Feb. 19, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Smart Toys Market by Type (Robots, Interactive Games, and Educational Robots), Technology (Wi-Fi, Bluetooth, RFID or NFC, and Others), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2024-2033.” According to the report, the global smart toys market size was valued at $16.7 billion in 2023, and is projected to reach $106.8 billion by 2033, growing at a CAGR of 20.9% from 2024 to 2033.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/2565 

Drivers, restraints, and opportunities-

Rise in digital literacy across the developing regions is expected to boost the growth of the smart toys market during the forecast period. Increase in the penetration of smart hand-held devices coupled with the growth in penetration of the internet is expected to have a positive influence on the market growth. Moreover, the rise in expenditure on education for kids and the growth in the adoption of educational toys among parents in developing nations have fostered the demand for smart toys.

Report coverage & details:

Forecast Period

2024–2033

Base Year

2023

Market Size in 2022

$16.7 billion

Market Size in 2032

$106.8 billion

CAGR

20.9 %

No. of Pages in Report

300

Segments Covered

Type, Technology, Distribution Channel, and Region.

Drivers

Growth in digital literacy

Growth in adoption of smart toys in schools

Restraints

High cost of AI-based smart toys

Threat to cybersecurity

Opportunities

Rise in demand in developing economies

 

The interactive games segment to retain its dominance by 2033-

By type, the interactive games segment accounted for the highest share in 2023, garnering more than two-thirds of the global smart toys market revenue. This is attributed to the dynamic nature of the interactive games and the higher level of engagement and entertainment that they offer to the children. On the other hand, the educational robots segment would cite the fastest CAGR by 2033. Rise in the adoption of smart toys in pre-school is a major factor that is expected to boost the market growth during the forecast period.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/49fAvCo 

The Bluetooth segment to dominate by 2033.

By technology, the Bluetooth segment held the major share in 2023, generating more than two-fifths of the global smart toys market revenue. Bluetooth technology offers wireless connectivity, allowing the smart toys to connect seamlessly to smartphones, tablets, and dedicated controllers to enhance the overall experience of the toys. On the other hand, the others segment would portray the fastest CAGR of 22.9% from 2024 to 2033. The growing popularity of artificial intelligence-based toys and rising penetration of AR and VR technology in the smart toys industry are expected to drive the growth of this segment.

The offline segment to dominate by 2033.

By distribution channel, the offline segment accounted for nearly two-thirds of the global smart toys market revenue in 2023 and is projected to remain dominant by 2033. The huge penetration of offline stores such as brand outlets, specialty toy stores, supermarkets and hypermarkets, and departmental stores across the globe has resulted in the growth of offline sales channels in the smart toys market. The online segment, on the other hand, would portray the fastest CAGR of 22.3% from 2024 to 2033. This is attributed to the rapid growth in penetration of the internet and the growth in the adoption of smartphones across the globe, which provide easy access to online shopping platforms to people.

North America garnered the major share in 2023.

By region, North America generated more than two-fifths of the global smart toys market revenue in 2023 and is expected to dominate by 2033. The major drivers of the North American smart toys market include higher disposable income of the consumers, higher adoption or preference for technology-based products, increase in investments by the manufacturers in innovation and R&D, huge presence of smart toy manufacturers, and presence of high number of tech-savvy parents in the region. Asia-Pacific, however, would showcase the fastest CAGR of 22.2% from 2024 to 2033. The strong economic growth in developing nations such as India, China, and Indonesia have significantly contributed to the rise in the disposable income of consumers, which is positively impacting the growth of the smart toys market.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/2565 

Key players in the industry-

Mattel, Inc.LEGO GroupHasbro, Inc.K’NEX Industries, Inc.Jakks Pacific, Inc.WowWee Group LimitedAnki, Inc.Sphero, Inc.LittleBits Electronics, Inc.UBTECH Robotics, Inc.Fisher-Price, Inc.

The report analyzes these key players in the global smart toys market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

Read More Trending “AMR Exclusive Insights:

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

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SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

on

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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