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AI-Driven Transformation, Arts and Crafts Tools Market to Grow by USD 1.68 Billion (2024-2028) with Rising Demand Among School Children

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NEW YORK, Oct. 29, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global arts and crafts tools market  size is estimated to grow by USD 1.68 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.4%  during the forecast period.  High demand for arts and crafts tools among school children is driving market growth, with a trend towards advancements in crafting tools. However, financial constraints involved in purchasing arts and crafts tools for students  poses a challenge. Key market players include 3M Co., ACCO Brands Corp., Colart International Ltd, Copic, Crayola, DA Vinci Paint Co., Fabbrica Italiana Lapis ed Affini S.p.A., Faber Castell Aktiengesellschaft, General Pencil Co. Inc, Hindustan Pencils Pvt. Ltd., ITC Ltd., KOKUYO Co. Ltd., Maped, Newell Brands Inc., Pentel of America Ltd., Sakura Color Products Corp., Schwanhausser Industrie Holding GmbH and Co. KG, Staedtler Mars GmbH and Co. KG, tomatotomatocreative, and XTool.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Distribution Channel (Offline and Online), Material (Wood, Metal, Plastic, and Composite materials), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

3M Co., ACCO Brands Corp., Colart International Ltd, Copic, Crayola, DA Vinci Paint Co., Fabbrica Italiana Lapis ed Affini S.p.A., Faber Castell Aktiengesellschaft, General Pencil Co. Inc, Hindustan Pencils Pvt. Ltd., ITC Ltd., KOKUYO Co. Ltd., Maped, Newell Brands Inc., Pentel of America Ltd., Sakura Color Products Corp., Schwanhausser Industrie Holding GmbH and Co. KG, Staedtler Mars GmbH and Co. KG, tomatotomatocreative, and XTool

Key Market Trends Fueling Growth

The arts and crafts tools market has experienced notable growth due to the increasing number of individuals engaging in crafting as a pastime. In 2023, approximately 26% of Americans participated in arts and crafts activities. This significant demand for arts and crafts tools presents an opportunity for innovation. One challenge faced by crafters is limited workspace. To address this issue, companies like xTool are developing multifunctional and compact crafting tools. XTool, a leading player in the laser engraving and craft machine sector, holds over 240 patents and continues to advance crafting technology. Their latest innovation, the xTool M1 Ultra, combines the functions of a laser machine, die-cutting machine, inkjet printer, and automated drawing tool into a single, compact unit. This device caters to the varied requirements of home crafters and DIY enthusiasts, handling over 1,000 different materials and offering capabilities such as printing, cutting, embossing, engraving, and transferring. By integrating multiple functions into one machine, xTool minimizes the need for multiple devices, optimizing workspace and reducing clutter. This trend towards multifunctional and space-efficient tools will contribute to the expansion of the global arts and crafts tools market. 

The Arts and Crafts Tools market is thriving due to the growing DIY culture and demand for handcrafted goods. Eco-friendly products and sustainable materials are trending, as consumers seek to reduce their carbon footprint. The therapeutic activity of crafting continues to attract those with disposable income, leading to increased sales of tools and supplies. Crafting workshops offer accessibility and knowledge to those with accessibility issues or knowledge barriers. Cultural diversity is celebrated through handmade gifts and unique designs. Technology integration, such as digital art and mobile phone functionalities, expands the market. Brick-and-mortar retailers and online platforms sell a wide range of tools, from drawing and painting to cutting and paper crafts. Decorative items, art exhibitions, and DIY projects drive demand for art supplies. Intellectual property concerns arise for traditional and recycled materials, while mixed media and children’s, adult, and senior crafts cater to diverse audiences. Art therapy and e-commerce platforms provide access to art activities and artwork demand. Craft video content and social media platforms showcase creative activities, while mass-produced alternatives face competition. Art supplies for household use, educational institutes, hypermarkets, supermarkets, and online stores cater to various markets. 

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Market Challenges

The cost of arts and crafts tools poses a significant financial challenge for college students, particularly those from low-income backgrounds. Art students face higher expenses for specialized supplies and materials compared to their peers in other disciplines, such as business or political science. These costs can vary greatly depending on the institution and program requirements, with art students needing to purchase items like paints, brushes, canvases, sketchbooks, and other crafting tools. This inconsistency in additional educational expenses can be especially burdensome for art students at institutions like the University of Georgia, where the cost of supplies can significantly exceed those in other fields. This financial strain can hinder the growth of the global arts and crafts tools market during the forecast period.The Arts and Crafts Tools Market faces several challenges in today’s dynamic business environment. Recycled materials and mixed media are becoming popular trends, requiring suppliers to adapt and offer a wide range of eco-friendly products. Children’s, adult, and senior crafts each present distinct opportunities and demands. Brick-and-mortar retailers compete with online platforms, reaching customers through various channels. Drawing and painting tools, cutting tools, paper crafts, decorative items, and art supplies are essential categories. Art exhibitions and DIY projects drive artwork demand, while social media platforms and e-commerce sites facilitate online purchasing. Digital art, householder demand, educational institutes, and art therapy are growing sectors. Hypermarkets, supermarkets, and online stores expand accessibility. Unique designs, customized packaging, and creative activities are key differentiators. Art therapy, craft video content, and mobile phone functionalities cater to diverse needs. E-commerce platforms and DIY culture fuel the market, with traditional art activities and raw materials maintaining their relevance. The market requires agility and innovation to meet the evolving needs of customers.

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Segment Overview 

This arts and crafts tools market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineMaterial 2.1 Wood2.2 Metal2.3 Plastic2.4 Composite materialsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Offline-  The offline distribution segment holds a substantial position in the global arts and crafts tools market. Brick-and-mortar stores, including specialty craft shops, hobby stores, and large retail chains, cater to a diverse customer base, ranging from hobbyists to professional artists. These stores offer a tangible shopping experience, allowing customers to physically interact with tools and materials, which significantly influences their purchasing decisions. The growing DIY culture, particularly in regions with a strong craft heritage, fuels the demand for offline channels. Older demographics, who may be less inclined towards online shopping, also favor offline stores. Impulse buying, seasonal promotions, workshops, and in-store events further boost sales in these channels. These factors contribute to the continued growth of the offline distribution segment in the global arts and crafts tools market.

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Research Analysis

The Arts and Crafts Tools market is thriving in today’s DIY culture, with an increasing demand for handcrafted goods and eco-friendly products made from sustainable materials. This therapeutic activity appeals to individuals with disposable income, seeking unique creations for personal use or as handmade gifts. Crafting workshops and cultural diversity add to the allure, offering opportunities to learn new skills and explore various art forms. Technology integration allows for digital art and customized packaging, while mass-produced alternatives and accessibility issues continue to be addressed. Drawing tools, painting tools, cutting tools, paper crafts, decorative items, and art supplies are essential for creating art, with art exhibitions showcasing the demand for these creations. Social media platforms provide a space for artists to showcase their work and connect with customers, driving online purchasing and sales for both brick-and-mortar stores and manufacturing plants.

Market Research Overview

The Arts and Crafts Tools market is thriving in today’s world, fueled by the growing DIY culture and the demand for handcrafted goods. With an increasing focus on eco-friendly products and sustainable materials, artisans are turning to natural and recycled materials for their creations. The therapeutic activity of crafting is also gaining popularity among people with disposable income, leading to a growth in demand for crafting workshops and classes. Cultural diversity is another driving factor, with unique designs and traditional materials from around the world being showcased in art exhibitions and online platforms. Technology integration is transforming the industry, with digital art, craft video content, and mobile phone functionalities offering new ways to create and share art. Despite these opportunities, accessibility issues and knowledge barriers can be a challenge for some, with intellectual property concerns and mass-produced alternatives also impacting the market. Brick-and-mortar retailers and online platforms are competing to offer the widest range of art supplies, from drawing tools and painting supplies to cutting tools and paper crafts. Decorative items, art exhibitions, and DIY projects are also popular, with art therapy and educational institutes also contributing to the market’s growth. The market for arts and crafts tools is diverse, catering to children’s crafts, adult crafts, and senior crafts. Household items, e-commerce platforms, and art therapy are also significant contributors. With the rise of online purchasing, customized packaging and unique designs have become essential to stand out from the competition. Social media and art activities continue to be popular, with demand for artwork and art supplies remaining strong. Overall, the Arts and Crafts Tools market is a vibrant and dynamic industry that continues to evolve with the changing needs and preferences of consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineMaterialWoodMetalPlasticComposite MaterialsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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