LONDON--(BUSINESS WIRE)--Technavio has announced the release of their research report on the global science, technology, engineering and mathematics (STEM) toys market for the forecast period 2019-2023. This STEM toys market analysis report segments the market by distribution channel (offline channels and online channels) and geography (APAC, Europe, MEA, South America, and North America).
Global STEM toys market size will grow at a CAGR of nearly 5%. Al-powered STEM toys are gaining popularity, particularly among working parents, as these toys act as learning companions for children and offer customizability for a range of lessons in core STEM disciplines and coding. Vendors can design smart STEM toys that can hold intelligent conversations with children owing to the advent of cloud-based artificial intelligence software platforms.
The growth of collaborative environment in educational institutions
The shift in learning approaches in educational institutions from traditional exam-based education to context-oriented approach is contributing to the STEM toys market growth. The teachers and students can link core concepts such as critical thinking, statistics, creativity, and argumentation with game-based learning and practical examples by adopting STEM toys in classrooms. This helps the students to sync their education and learning activities with industry-specific and job-oriented learning, which is promoting student participation in STEM subjects.
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“Most of the market’s growth will come from APAC during the forecast period. The market in this region is growing due to the shift from rote learning to context-oriented, example-based learning approaches in countries such as Japan, China, and India. The education sector in the region will witness significant infrastructural and technical developments during the forecast period as this it comprises of emerging economies such as China, India and South East Asian countries, which will boost the growth of the STEM market,” says an analyst at Technavio.
Over the last few years, global growth in e-commerce retail for STEM toys has been witnessed due to the penetration of Internet-enabled mobile devices such as smartphones and tablets in countries such as the US, China, and India. Many manufacturers and retailers of STEM toys have expanded their distribution channels from traditional toy stores and retail outlets to online platforms. The advent of online sales and e-commerce will allow customers to compare product features and prices and help them in making informed purchase decisions.
View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This STEM industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several STEM products manufacturers including –
- Hasbro
- Learning Resources
- LEGO Group
- Mattel
- Spin Master
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies.
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