Connected Toys Industry Overview
The connected toys market is fragmented, with numerous players operating in the market. There are both established toy manufacturers and emerging tech companies competing in this market, offering various connected toys and smart devices for children. Various players are adopting strategies like product innovation, mergers, and acquisitions, primarily to extend their product portfolio and remain competitive in the market.
In November 2022, Mattel Inc., the multinational toy manufacturer best known as the maker of Barbie, Hot Wheels, and other iconic toys, acquired Caribu, an app that allows families to read, draw and play games in an interactive video call.
In July 2022, Mattel, Inc. entered into a multi-year agreement with SpaceX to create and market products that inspire children and collectors alike to tap into their inner space explorers. Further, in 2023, Mattel would begin releasing SpaceX-inspired toys under its iconic Matchbox brand. Simultaneously, Astro-inspired collectibles would debut on Mattel Creations, Mattel's collaboration and direct-to-consumer platform.
Connected Toys Market Leaders
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Mattel, Inc.
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Hasbro, Inc.
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Sphero Inc.
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Wonder Workshop, Inc
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WowWee Group Limited
- *Disclaimer: Major Players sorted in no particular order
