The number of school children worldwide has risen, while the average age of school commencement has declined. Education systems continue to adapt their curricula to the needs of the changing job market, and STEM education is among the top topics on the agenda. Changes in consumer lifestyles, coupled with evolving job markets, open the door for STEM toy innovation, which needs to align with the skills needed to succeed in school and in the current and future job market.
This report comes in PPT.
With the shift to e-learning amidst school closures, many markets saw higher demand for scientific/educational toys, especially in developed markets, compared to pre-COVID-19 sales. These toys provide ways to enhance at-home learning capabilities; however, not all countries saw growth in sales, as depressed incomes affected many households.
Pre- and post-COVID-19, parents have sought out toys and games that have more educational elements, and are willing to spend extra on education and technology. This trend is aided by innovation that supports wider child audiences and contemporary education curricula, and also taps into licensing partnerships with well-established scientific and education entities.
Digitalisation of playtime and learning evolved in 2020, due to the pandemic. With the emphasis on e-learning, companies are investing in online education platforms. This opens the door for STEM toys and encourages manufacturers to consider innovation that taps into digital transformation in education. However, it is not all about technology and connectivity. STEM toy manufacturers need to consider carefully the target age group, as well as demand for exciting STEM toys that do not necessarily have on-screen components and tech embedded in the toys.
Labour market demands are evolving, leading to changes to school curricula to prepare the workforce of the future. This opens the door for further innovations within STEM toy categories and education platforms that can provide the necessary tools for children’s cognitive and skill development, while aligning better with school curricula and future career growth.
Manufacturers in the scientific/educational toys category can benefit from the evolving demand in STEM education by developing partnerships with educational and scientific entities, such as National Geographic, to support value-added innovation, and reach parents and children across multiple platforms,
This is the aggregation of traditional toys and games and video games.
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