There is a huge growth in the STEM toys Market. It might probably reach revenue up to US$9.5 Billion by 2025. Here are some key insights.
- The analysis of the market forecasts that the industry will witness 1.5 times growth during the forecast period.
- The increasing popularity of high-end construction and engineering, circuits and electricity, DIY projects, robotics & coding, AI, and sensor-based interactive toys are increasing the 12+ years age group segment’s market growth.
- The science segment is expected to pose an absolute growth of 44% during the forecast period. Europe and North America are likely to grow at impressive growth rates.
- Like board games, engineering toys are used for the development of strategic and building skills among teenagers and are expected to grow at a CAGR of close to 7%.
- The concept of toy subscription features from Amazon has been a gamechanger in online distribution models. Amazon, eBay, Best Buy, JD.com, and Alibaba are online retailers.
North America was the largest STEM toys market with a share of contributed over 33% in 2019. Factors such as a high spending power among millennials, inclination toward interactive electronic games, and high urbanization drive the growth of the educational toys market in North America.
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