Science, technology, engineering, and mathematics toys market: APAC is estimated to contribute 39% to the growth of the global market during the forecast period- Technavio

NEW YORK, Dec. 5, 2022 /PRNewswire/ -- The science, technology, engineering, and mathematics (STEM) toys market size is forecast to grow by USD 1,653.71 million at a CAGR of 7.12% between 2022 and 2027. APAC is forecasted to contribute 39% to the growth of the global market during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. The rising disposable incomes and increasing consumer awareness are some of the factors that will facilitate the science, technology, engineering, and mathematics (STEM) toys market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Global Science, Technology, Engineering and Mathematics (STEM) Toys Market 2023-2027
Technavio has announced its latest market research report titled Global Science, Technology, Engineering and Mathematics (STEM) Toys Market 2023-2027

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Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others, Buy the report

Science, technology, engineering, and mathematics (STEM) toys market: Segmentation analysis

Technavio has segmented the science, technology, engineering, and mathematics (STEM) toys market by distribution channel (offline and online), type (STEM electromechanical systems, STEM electronics, and STEM robotics), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report provides actionable insights and estimates the contribution of all segments to the growth of the global market.

  • The offline segment will hold the largest share of the market's growth during the forecast period. The segment includes specialty stores, department stores, hypermarkets and supermarkets, and general stores. The offline distribution channel allows buyers to test the toys before making a purchase, which is driving the growth of this segment.

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Key factors driving market growth

  • The growth of a collaborative environment in educational institutions is notably driving the science, technology, engineering, and mathematics (STEM) toys market growth.

  • Educational institutions are shifting toward a context-oriented approach. The use of STEM toys in classrooms enables teachers and students to link core concepts with game-based learning and practical examples.

  • Several countries are adopting new standards for primary and secondary education. For instance, the Next Generation Science Standards (NGSS), adopted in the US focuses on learning methods that encourage interest in science subjects.

  • Thus, the emphasis on context-based education is expected to continue to drive the global science, technology, engineering, and mathematics (STEM) toys market during the forecast period.

Leading trends influencing the market

  • The introduction of subscription services for STEM toys is a key trend in the market.

  • Many online retailers provide subscription services for STEM toys. For instance,  Amazon launched a STEM toy club subscription service that focuses on working parents.

  • Subscription services are expected to increase awareness about STEM toys and other educational toy products. This will allow vendors to expand their customer base during the forecast period.

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What are the key data covered in science, technology, engineering, and mathematics (STEM) toys market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the science, technology, engineering, and mathematics (STEM) toys market between 2023 and 2027

  • Precise estimation of the size of the science, technology, engineering, and mathematics (STEM) toys market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the science, technology, engineering, and mathematics (STEM) toys market across APAC, North America, Europe, Middle East and Africa, and South America

  • Thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of science, technology, engineering, and mathematics (STEM) toys market vendors

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Science, Technology, Engineering, and Mathematics Toys Market Scope

Report Coverage

Details

Page number

158

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.12%

Market growth 2023-2027

USD 1,653.71 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.18

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 39%

Key consumer countries

US, Canada, Japan, China, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Companies profiled

All Star Learning Inc., Elenco Electronics Inc., Evertoys, Evollve Inc., Fat Brain Toys LLC., Fun Express LLC, Funvention Learning Pvt. Ltd., Johnco, Learning Resources Ltd., LEGO System AS, Mattel Inc., Melissa and Doug, Mindware Inc., Pegasus Toykraft Pvt. Ltd., Scientifics Direct Inc., Smartivity Labs Pvt. Ltd., Spin Master Corp., Tangible Play Inc., Timbuk Toys, and Xinxiang Alpha Manufacturing Ltd.

Market Dynamics

Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

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Table of Content

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global science, technology, engineering and mathematics (STEM) toys market 2017 - 2021

  • 4.2 Geography Segment Analysis 2017 - 2021

  • 4.3 Distribution channel Segment Analysis 2017 - 2021

  • 4.4 Type Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments

  • 6.2 Comparison by Distribution Channel

  • 6.3 Offline - Market size and forecast 2022-2027

  • 6.4 Online - Market size and forecast 2022-2027

  • 6.5 Market opportunity by Distribution Channel

7 Market Segmentation by Type

  • 7.1 Market segments

  • 7.2 Comparison by Type

  • 7.3 STEM electromechanical systems - Market size and forecast 2022-2027

  • 7.4 STEM electronics - Market size and forecast 2022-2027

  • 7.5 STEM robotics - Market size and forecast 2022-2027

  • 7.6 Market opportunity by Type

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 APAC - Market size and forecast 2022-2027

  • 9.4 North America - Market size and forecast 2022-2027

  • 9.5 Europe - Market size and forecast 2022-2027

  • 9.6 Middle East and Africa - Market size and forecast 2022-2027

  • 9.7 South America - Market size and forecast 2022-2027

  • 9.8 US - Market size and forecast 2022-2027

  • 9.9 Japan - Market size and forecast 2022-2027

  • 9.10 China - Market size and forecast 2022-2027

  • 9.11 France - Market size and forecast 2022-2027

  • 9.12 Canada - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 All Star Learning Inc.

  • 12.4 Elenco Electronics Inc.

  • 12.5 Evertoys

  • 12.6 Evollve Inc.

  • 12.7 Fat Brain Toys LLC.

  • 12.8 Fun Express LLC

  • 12.9 Funvention Learning Pvt. Ltd.

  • 12.10 Johnco

  • 12.11 Learning Resources Ltd.

  • 12.12 LEGO System AS

  • 12.13 Mattel Inc.

  • 12.14 Melissa and Doug

  • 12.15 Mindware Inc.

  • 12.16 Pegasus Toykraft Pvt. Ltd.

  • 12.17 Xinxiang Alpha Manufacturing Ltd.

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Technavio

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Global Science, Technology, Engineering and Mathematics (STEM) Toys Market 2023-2027
Global Science, Technology, Engineering and Mathematics (STEM) Toys Market 2023-2027
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