North America STEM toys market is estimated to grow at a significant CAGR of 6.7% during the forecast period. North America was the largest market for STEM toys in 2019 and is projected to stay so, during the forecast period. Factors such as the high spending power of the millennials, inclination towards interactive electronic games, and high urbanization are driving the growth of the educational toys market in North America. The toy community in the US is highly dedicated to manufacture and distribute learning toys that are safe, fun, and that comply with the rigorous standards and regulations in the country. The Toy Association members take utmost efforts and are more dedicated to work along with government agencies and online retailers to ensure a steady supply of toys in the market.
Furthermore, the overall proportion of kids aged between 0-14 years of age who are considered to be the major target group for toy vendors in the US are expected to decline as the citizens above 65 years are expected to rise. However, the country is expected to maintain its significance over the next few years as well. When it comes to the gaming industry, there is a cultural disparity between North Americans and Europeans. Traditionally, North Americans used to enjoy light board games such as collectible card games and tabletop board games that are based on the luck or chance factor. The region was less inclined toward tabletop board games, which are cooperative and competitive in nature and involve critical thinking. However, the present scenario has changed, and from the past three years, the demand for fun, engaging and learning toys is increasing among kids and teenagers
The North America STEM toys market is segmented based on age group, category, and distribution channel. Based on the age group, the STEM toys market is segmented into 0-3 years, 3-8 years, 8-12 years, 12+ years. On the basis of category, the market is segmented into science, technology, engineering, and mathematics. On the basis of distribution channel, the market is fragmented into online and offline.
On the basis of geography, the North America inverter generator market is scrutinized into the US and Canada. Unlike the US, the scope for growth has much room in Canada with significant opportunities for STEM toy manufacturers despite the macro-level political and legal framework in the country. Further, the 2020 pandemic has also boosted the growth rate in construction and scientific toys. Canada is also similar to most of the European countries in terms of potential and revenue generation. Despite lagging behind major markets in Europe like the UK, France, the country can be a hotspot for supporting growth during the forecast period when compared with the mature US market. Trade deals like the North America Free Trade Agreement (NAFTA) and the Comprehensive Economic and Trade Agreement (CETA) are highly crucial in determining the market landscape of toys in the country
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North America STEM Toys Market Segmentation
By Age Group
- 0-3 Years
- 3-8 Years
- 8-12 Years
- 12+ Years
By Category
- Science
- Technology
- Engineering
- Mathematics
By Distribution Channel
- Online
- Offline
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Regional Analysis
- The US
- Canada
Company Profiles
- Digital Dream Labs, Inc.
- ELENCO ELECTRONICS, INC.
- Hasbro, Inc.
- K’NEX
- LeapFrog Enterprises, Inc.
- Learning Resources Ltd.
- LEGO System A/S
- Mattel
- Melissa & Doug
- MindWare , Inc.
- Ravensburger
- Sphero
- Spin Master
- Valtech, LLC
- VTech Holdings Ltd.
- WowWee Group Ltd.
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