The global educational toys market is growing at a CAGR of 8.11% and is expected to witness an incremental growth of $11.81 billion during the forecast period. The growth of the market is attributable to the rising demand for education with the help of playful learning so that children learn things easily and quickly. The recent trend towards Augmented Reality (AR) educational toys is likely to boost the demand for educational toys year-on-year. Moreover, the educational toys have short life cycle and requires continuous innovation and investment in R&D to remain competitive. Due to rapid growth forecasts the vendors are expected to face intense competition in terms of innovativeness and price.

Continuous learning requirements for students and professionals driven by sweeping trends over the past two decades due to globalization, talent migration, and consistent improvements in corporate competencies and individual talent grooming have increased the scope of e-learning. With rapid globalization, there has been increased mobility of human capital in industries, including tourism, trade, media, international relations, and science and technology. Therefore, there is a need to effectively acquire functional and vocational skills over a short period and in a cost-effective manner. While conventional learning and training methods cater to most needs, they are ineffective in meeting the dynamic learners’ requirements, especially in the rapidly expanding learner segment.