LONDON–(BUSINESS WIRE)–#ConsumerDiscretionary–The science, technology, engineering, and mathematics toys market is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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. These toys enable teachers and students to link core concepts such as critical thinking, statistics, creativity, and argumentation with game-based learning and practical examples. The adoption of STEM toys in classrooms helps students to synchronize their education and learning activities with industry-specific and job-oriented learning, which is promoting student participation in STEM subjects.
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As per Technavio, rising application of AI in STEM toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Science, Technology, Engineering, and Mathematics Toys Market: Rising application of AI in STEM toys
Al-powered STEM toys are gaining popularity, particularly among working parents, as these toys act as learning companions for children and can be customized for a range of lessons in core STEM disciplines and coding. Vendors are designing smart STEM toys that can hold intelligent conversations with children owing to the advent of cloud-based artificial intelligence software platforms.
“The rising adoption of STEM toys as teaching aids, strong growth in online sales, and the growing popularity of coding robot toys are some other key factors that are expected to contribute to the growing STEM toys market size during the forecast period,” says a senior analyst at Technavio.
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Science, Technology, Engineering, And Mathematics Toys Market: Segmentation Analysis
This market research report segments the global science, technology, engineering, and mathematics toys market by distribution channel (offline channels and online channels and geographical regions (APAC, North America, Europe, MEA, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. This is because governments in the emerging economies including China, Singapore, and Hong Kong are emphasizing on STEM education from an elementary level to ensure a well-rounded education system.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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