The US STEM toys market is anticipated to grow at a significant CAGR of 6.8% during the forecast period. The US is estimated to be the largest STEM toy market in 2019 and accounted for a significant share of the global market. The country is also anticipated to sustain its dominance throughout the forecast period owing to the impact of COVID-19 that boosted the sales in Q1 and Q2 of 2020. The liquidation of Toys “R” Us impacted the sales to a greater extent in the Northeast region in early 2019. Despite the downfall of the traditional toys market in the country to around 4% in 2019 from 2018, the result of staying indoors caused a surge in sales in specific categories, including the STEM segment as learning and education were done indoors with the closure of schools in early 2020.

With an average selling price of $10 per toy, the country accounts for over three billion units through direct sales each year in the toys market, where around 10% were bought for educational purposes. Also, the US government acts as major support from the backend with high standards and regulations for toy manufacturing and sales, where the industry is also a major improvement to fuel the country’s economy. With the market heading towards maturity, a slower growth rate is expected post the 2020 boom, where the decline in birth rates further adds to the burden for the toy industry. However, this might not be the case in the STEM segment as the preference for robots, coding, AI, and smart toys are expected to increase.

The US 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. Increasing internet penetration and smartphone usage has resulted in an increase in online sales channel, which is also the fastest growing segment. However, the offline sales channel is still the preferred one and is leading the market by a giant share in the US STEM toys market.

The country is home to a large number of STEM toys vendors, some of the major one’s include Hasbro, Inc.; K’NEX; Learning Resources Ltd.; LEGO System A/S; Mattel; Melissa & Doug; Ravensburger; MindWare , Inc.; Spin Master; and WowWee Group Ltd., among more.

Research Methodology

The market study of the US STEM toys market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

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The Report Covers

• Comprehensive research methodology of the US STEM toys market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US STEM toys market.
• Insights about market determinants which are stimulating the US STEM toys market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.