According to the latest market study released by Technavio, the global educational toys marketis expected to grow at a CAGR of close to 10% during the forecast period.
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Technavio has published a new report on the global educational toys market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Educational Toys Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global educational toys market into three major product segments. They are:
- Cognitive thinking
- Motor skills
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The academic educational toys market was the largest product segment of educational toys market in 2016. Academic toys include math and science kits, language learning toys, and other toys, imbibing basic and advanced knowledge among the children as per the age groups. Math and science kits have gained immense popularity among the children as well as parents over the last few years owing to the early head start programs adopted in kindergartens and preschools due to rising global competition.
Parents are increasingly buying STEM toys for their children to experiment and get a hands-on learning experience, thereby strengthening the basic concepts, such as dabbling in microscopes, DNA, earth science, crystals, energy, motion and volcanoes, interactive pets, conductors, circuits, robotics, and many other complex topics.
"With rapidly increasing opportunities in the technology and IT sector, parents encourage their children to learn via engineering and coding toys. There has also been a rapid rise in demand for language learning toys, particularly foreign language learning toys. Manufacturers are witnessing a gradual shift in consumer preferences from conventional toys, such as action figures and dolls, to toy robots, drones, and circuits such as LEGO Mindstorms EV3 and Wonder Workshop Dash Robot," says Jhansi Mary, a lead analyst at Technavio for school and college essentials research.
Cognitive thinking educational toys such as puzzles, construction sets, and activity sets help in the development of key skills like critical thinking, logical reasoning and problem-solving. These toys also help to enhance the creativity of young toddlers and preschoolers. Thus, cognitive thinking educational toys equip children with the skills required to become independent and solve real life problems in future.
However, cognitive thinking educational toys are not restricted to infants or toddlers. Even middle school children and adults engage in puzzles and reasoning games, such as Rubik's cube, to strengthen their memory powers and associating ability. Construction sets from LEGO enhance children's creativity and clear the concepts of engineering and geometry, thereby ensuring effective learning while playing. Therefore, increasing popularity of cognitive toys is expected to contribute to the growth of the market positively.
The motor skills educational toys market is expected to witness the fastest growth during the forecast period. These toys allow physical development and strengthening of muscles in infants, toddlers, and preschoolers. Motor skills are often classified as gross motor skills (movements of larger muscles such as arms and legs) and fine motor skills (movements of smaller muscles such as those in hands and wrist). The manufacturers are innovating with these toys due to the recent emphasis on the physical well-being of children.
"Increasing interest of parents in improving the physical health of their children is likely to boost the demand for motor skill toys. The demand for such toys is majorly driven by children aged between 0-4 and 4-8 years, as these are the crucial physical development years. These toys entertain and engage children while simultaneously helping to strengthen their muscles," says Jhansi.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Learning Resources
- Toys "R" Us
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