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Smart Toys Market to Reach $106.8 billion, Globally, by 2033 at 20.9% CAGR: Allied Market Research

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Asia-Pacific is expected to witness the highest CAGR during the forecast period. This is attributed to the presence of a large growth in population in the region. Moreover, economic development, rise in disposable income, and growth in awareness regarding smart toys coupled with rapidly growing e-commerce in the region are collectively expected to drive the growth of the smart toys market in the region.

WILMINGTON, Del., Feb. 19, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Smart Toys Market by Type (Robots, Interactive Games, and Educational Robots), Technology (Wi-Fi, Bluetooth, RFID or NFC, and Others), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2024-2033.” According to the report, the global smart toys market size was valued at $16.7 billion in 2023, and is projected to reach $106.8 billion by 2033, growing at a CAGR of 20.9% from 2024 to 2033.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/2565 

Drivers, restraints, and opportunities-

Rise in digital literacy across the developing regions is expected to boost the growth of the smart toys market during the forecast period. Increase in the penetration of smart hand-held devices coupled with the growth in penetration of the internet is expected to have a positive influence on the market growth. Moreover, the rise in expenditure on education for kids and the growth in the adoption of educational toys among parents in developing nations have fostered the demand for smart toys.

Report coverage & details:

Forecast Period

2024–2033

Base Year

2023

Market Size in 2022

$16.7 billion

Market Size in 2032

$106.8 billion

CAGR

20.9 %

No. of Pages in Report

300

Segments Covered

Type, Technology, Distribution Channel, and Region.

Drivers

Growth in digital literacy

Growth in adoption of smart toys in schools

Restraints

High cost of AI-based smart toys

Threat to cybersecurity

Opportunities

Rise in demand in developing economies

 

The interactive games segment to retain its dominance by 2033-

By type, the interactive games segment accounted for the highest share in 2023, garnering more than two-thirds of the global smart toys market revenue. This is attributed to the dynamic nature of the interactive games and the higher level of engagement and entertainment that they offer to the children. On the other hand, the educational robots segment would cite the fastest CAGR by 2033. Rise in the adoption of smart toys in pre-school is a major factor that is expected to boost the market growth during the forecast period.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/49fAvCo 

The Bluetooth segment to dominate by 2033.

By technology, the Bluetooth segment held the major share in 2023, generating more than two-fifths of the global smart toys market revenue. Bluetooth technology offers wireless connectivity, allowing the smart toys to connect seamlessly to smartphones, tablets, and dedicated controllers to enhance the overall experience of the toys. On the other hand, the others segment would portray the fastest CAGR of 22.9% from 2024 to 2033. The growing popularity of artificial intelligence-based toys and rising penetration of AR and VR technology in the smart toys industry are expected to drive the growth of this segment.

The offline segment to dominate by 2033.

By distribution channel, the offline segment accounted for nearly two-thirds of the global smart toys market revenue in 2023 and is projected to remain dominant by 2033. The huge penetration of offline stores such as brand outlets, specialty toy stores, supermarkets and hypermarkets, and departmental stores across the globe has resulted in the growth of offline sales channels in the smart toys market. The online segment, on the other hand, would portray the fastest CAGR of 22.3% from 2024 to 2033. This is attributed to the rapid growth in penetration of the internet and the growth in the adoption of smartphones across the globe, which provide easy access to online shopping platforms to people.

North America garnered the major share in 2023.

By region, North America generated more than two-fifths of the global smart toys market revenue in 2023 and is expected to dominate by 2033. The major drivers of the North American smart toys market include higher disposable income of the consumers, higher adoption or preference for technology-based products, increase in investments by the manufacturers in innovation and R&D, huge presence of smart toy manufacturers, and presence of high number of tech-savvy parents in the region. Asia-Pacific, however, would showcase the fastest CAGR of 22.2% from 2024 to 2033. The strong economic growth in developing nations such as India, China, and Indonesia have significantly contributed to the rise in the disposable income of consumers, which is positively impacting the growth of the smart toys market.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/2565 

Key players in the industry-

Mattel, Inc.LEGO GroupHasbro, Inc.K’NEX Industries, Inc.Jakks Pacific, Inc.WowWee Group LimitedAnki, Inc.Sphero, Inc.LittleBits Electronics, Inc.UBTECH Robotics, Inc.Fisher-Price, Inc.

The report analyzes these key players in the global smart toys market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

Read More Trending “AMR Exclusive Insights:

Kids Indoor Toy Market Opportunity Analysis and Industry Forecast, 2023-2032Sustainable Toys Market Opportunity Analysis and Industry Forecast, 2021-2030Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031Fabric Toys Market Opportunity Analysis and Industry Forecast, 2021-2030Action Figure Toys Market Opportunity Analysis and Industry Forecast, 2021-2031Sex Toys Market Opportunity Analysis and Industry Forecast 2022-2031

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

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SOURCE Education Cannot Wait

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Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

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BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

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SOURCE Niutech

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Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

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SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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SOURCE GLOBAL ULTRASOUND INSTITUTE

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