Artificial Intelligence
Global Smart Toys Market Size & Share Revenue Forecasted to Reach USD 59.74 Billion By 2032, at 16.5% CAGR: Polaris Market Research
New York, NY, Jan. 19, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Smart Toys Market Share, Size, Trends, Industry Analysis Report, By Product Type (Interactive Games, Robots, and Educational Toys); By Distribution Channel; By Technology; By Region; Segment Forecast, 2023-2032” in its research database.
“According to the latest research study, the global Smart Toys Market size & share are expected to generate revenue of USD 59.74 Billion By 2032 and are estimated to be valued at USD 12.99 Billion in 2022, at a compound annual growth rate (CAGR) of 16.5% from 2023 to 2032”
What are Smart Toys? How Big is Smart Toys Market Size & Share?
- Report Overview
Smart Toys are paving their way across the globe to not only enhance but also improve one’s learning & critical thinking abilities. Its evolution in shape, patterns, perspective & electronic advancements are perfect for keeping a child engaging & interacting. Smart toys are usually integrated with cloud computing, artificial intelligence (AI), and sensor-based technologies such as the Internet of Things (IoT). Loaded with machine intelligence, smart toys provide users intelligent learning experience.
Along with the increase in the middle-class family population, the penetration of smartphones to the increase in social media platforms has opened the doors and encouraged people to opt for technology-led toys, thus, increasing the smart toys market size. In addition, the market growth is likely to be impacted positively over the coming years due to the increase in the prevalence of STEM toys for children’s skill enhancement, including coding & engineering through smart interaction and advanced behavioral learning.
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Our Free Sample Report Includes
- Report introduction, overview, and in-depth industry analysis
- Breakdown data by regions, type, players, and applications
- Competitive landscape and leading competitor market shares
- 110+ pages research report
- Offers chapter-wise instruction on request
- Includes market presence across different geographies with share, size, and trends
- The updated list of tables and figures
- The report covers leading players with their business strategies
- Factors and fact research methodology
Some of the Top Companies Are:
- LeapFrog Enterprises
- Mattel
- Hasbro
- Lego Systems
- Robofi LLC
- Sega Toys.
- Tomy Co.
- Doctor’s Associates
- Playmobil
- Pillar Learning
- Dash Robotics
- Bots Alive Robot Toys
- Konami Corporation
- Indiegogo
- Jakks Pacific
- Dream International
For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/smart-toys-market/request-for-sample
Market Dynamics:
Key Growth Driving Factors
- Growing adoption of advanced technologies driving the market growth
Key factors boosting the growth of the market are the rapid rise in consumer disposable income, particularly in developed countries like the US, UK, France, Japan, and the widespread adoption of technologies like connected mobile devices, augmented reality, and smart homes. With real-world simulations, virtual reality technologies are encouraging children to develop their imagination and thinking skills, which has further fueled the market expansion. Furthermore, the increasing knowledge about smart toys through smartphones, tablets, and social media platforms is motivating customers to adopt technology-led toys, which is expected to accelerate the smart toys market sales.
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Recent Trends Influencing the Market
- Increasing usage of smartphones and online shopping platforms to push the smart toys market industry expansion
- With the development of digital media and the growing use of smartphones worldwide, especially in emerging economies like China and India, online sales have seen significant growth in recent years.
- The market is expanding because of the numerous advantages offered by online shopping platforms, such as the availability of a variety of brands, the absence of the need to bargain, free home delivery, and the ease with which prices can be compared across platforms.
Segmental Analysis
- Interactive games segment dominated the market
On the basis of product type, the interactive games segment witnessed the major smart toys market share in 2022 and is expected to show considerable growth throughout the forecast period. The key factors supporting this segment’s growth include a rising growth in smartphone penetration and a substantial upsurge in edutainment services. Interactive games are a good option to explore new creative skills and can be used for learning letters and alphabets in the preschool phase, which propels the segment growth in the market.
- Offline segment accounted for a significant market revenue share in 2022
By distribution channel smart toys market segmentation, in 2022, the offline category held a considerable share in the smart toys market due to the convenience of checking the working and quality of toys physically and the easy availability of retail stores across the world. Further, rising initiatives by major market players to strengthen their footprints in the market by launching new specialty and retail stores are one of the key factors fueling the segment growth. In addition, increasing government efforts for promoting new and effective ways of learning and skill enhancing propelling the segment growth.
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Smart Toys Market Report Scope & Trends:
Report Attribute | Details |
The revenue forecast in 2032 | USD 59.74 Billion |
The market size value in 2023 | USD 15.10 Billion |
Expected CAGR Growth | 16.5% from 2023 – 2032 |
Base Year | 2022 |
Forecast Year | 2023 – 2032 |
Top Market Players | LeapFrog Enterprises Inc., Mattel Inc., Hasbro Inc., Lego Systems A/S, Robofi LLC, Sega Toys Co. Ltd., Tomy Co. Ltd., Doctor’s Associates Inc., Playmobil, Pillar Learning, Dash Robotics, Bots Alive Robot Toys, Konami Corporation, Indiegogo Inc., Jakks Pacific, and Dream International |
Segments Covered | By Product Type, By Distribution Channel, By Technology, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- The smart toys market demand in the Asia Pacific is predicted to experience a significant
Based on geography, Asia Pacific is anticipated to show the fastest growth over the foreseen period owing to the rapid growth in the middle-class population coupled with rising consumer preferences for smart educational toys. Also, growing efforts by leading market players to introduce new and innovative toys to meet the growing consumer demand boosts the industry growth in the region.
Moreover, North America held the greatest revenue share in 2022 with the result of a surge in the adoption of smart home devices along with the increasing consumer purchasing power in nations such as the United States & Canada. In addition, rising internet usage for smart toys or devices and the wide presence of major companies who are embracing innovative and advanced technologies is projected to flourish the market growth.
Browse the Detail Report “Smart Toys Market Share, Size, Trends, Industry Analysis Report, By Product Type (Interactive Games, Robots, and Educational Toys); By Distribution Channel; By Technology; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/smart-toys-market
For Additional Information OR Media Enquiry, Please Mail At: [email protected]
Recent Developments
- In July 2022, Smart Toys and Games, leading Belgian puzzles and games company acquired The Happy Puzzle Company. With this acquisition, the company plans to expand its product portfolio by bringing The Happy Puzzle Company products and will spread its distribution through SMART’s exclusive worldwide network.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the smart toys market report based on product type, distribution channel, technology, and region:
By Product Type Outlook
- Interactive Games
- Robots
- Educational Toys
By Distribution Channel Outlook
- Online
- Offline
By Technology Outlook
- Wi-Fi
- Bluetooth
- RFID
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse More Related Reports:
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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Artificial Intelligence
Expanded SAS Viya uses generative AI to accelerate customer productivity
Leading data and AI platform helps explain and integrate large language models to augment existing processes; SAS Data Maker will address critical challenges without compromising sensitive data
LAS VEGAS, April 17, 2024 /PRNewswire/ — SAS INNOVATE — So many organizations have jumped on the GenAI bandwagon in the last year, but are those efforts delivering results yet? If the organization uses the SAS® Viya® data and AI platform, the answer is a resounding yes. Infused with large language model (LLM) orchestration strength, SAS Viya is already helping customers accelerate efficiency and productivity. Throughout 2024, SAS will continue delivering innovation by broadening its trustworthy GenAI footprint with the introduction of its own synthetic data generator – SAS Data Maker – and by offering industry-specific GenAI assistants.
Learn more about Viya LLM orchestration and other GenAI capabilities in this solution brief: Accelerate productivity with generative AI and SAS Viya.
“SAS’ guiding principle is everyone should be able to query data and perform complex analytical operations in every phase of the data and analytics life cycle, and generative AI is crucial in this democratization journey,” said Wiktor Markiewicz, Senior Market Research Analyst at IDC. “But most leaders don’t understand AI technology and how they can apply it meaningfully. Having an already trusted data and AI platform available removes the guesswork and kickstarts the generative AI journey.”
Georgia-Pacific and wienerberger rely on Viya for AI and GenAI capabilitiesManufacturer Georgia-Pacific is a SAS customer using Viya. “When challenges emerge with our manufacturing equipment or process, we leverage sensor data, business rules, recommender systems and generative AI to suggest the appropriate next best action and resolve the problem,” said Roshan Shah, Vice President, Collaboration & Support Center, Georgia-Pacific. “Streaming analytics and intelligent decision management support from SAS Viya helps us capture immediate value by making the right decisions as events occur.”
About Georgia-Pacific, SAS Executive Vice President and CTO Bryan Harris said, “One of SAS’ core strengths is our deep bench of industry knowledge. We understand manufacturing, and we understand Georgia-Pacific’s unique challenges. We help them appropriately scale LLM orchestration and manufacturing-specific GenAI assistant strategies so their employees can use those cutting-edge applications to troubleshoot real-time operational issues.”
Global brick manufacturer wienerberger also uses SAS for AI support. The company reduces energy consumption, cuts greenhouse gas emissions and improves product quality using SAS on Microsoft Azure. “We use AI and IoT analytics from SAS to connect all our data streams and analyze the entire production process,” said Florian Zittmayr, Team Lead for Data Science at wienerberger. “SAS Analytics brings intelligence to the kiln by helping our engineers and employees to gain valuable information about each step and identify specific target values to make the drying and firing of bricks more economical.”
And a global consumer goods manufacturer uses Viya and its GenAI capabilities to optimize warehouse space, allocate inbound shipments and compare “what-if” scenarios based on product demand. SAS helped develop an LLM-based digital assistant by dynamically updating SAS Visual Analytics dashboards so the company’s supply chain teams can easily save time and improve warehouse space usage with in-depth analytics. This conversational assistant allows both technical and business users to generate fast and accurate results and improve decision making using SAS’ trustworthy, explainable analytics.
Organizations are enthusiastic about adopting and deploying GenAI, but there’s often a gap between preparedness and execution. Learn more by reading the US Executive Summary from a new study: Generative AI Challenges and Potential Unveiled: How to Achieve a Competitive Advantage.
Viya stands out in the GenAI crowd because of pragmatic, industry-driven applicationsAs organizations explore GenAI, SAS prioritizes identifying industry-driven and ethically applied use cases. SAS enables secure adoption and fosters accelerated productivity and trusted results across diverse industries and regulatory landscapes. SAS’ GenAI functionality lives in leading products like Viya and SAS Customer Intelligence 360:
GenAI orchestration: Viya integrates external GenAI models with existing business processes and systems, orchestrating LLMs for end-to-end enterprise use cases. These capabilities are now available in SAS Viya.Viya Copilot: Enhances productivity for developers, data scientists and business users with a personal assistant that accelerates analytical, business and industry tasks. Viya Copilot offers diverse tools for tasks like code generation, data cleaning, data exploration, marketing planning, journey design and knowledge gap analysis. The first iteration of Viya Copilot is available through an invitation-only private preview.SAS Data Maker: Addresses data privacy and scarcity challenges by generating high-quality synthetic tabular data without compromising sensitive information, enabling organizations to address data privacy. SAS Data Maker is now available in private preview.Customer engagement. SAS continues to infuse GenAI capabilities into its flagship MarTech solution, SAS Customer Intelligence 360, to help marketers elevate the customer experience. SAS Customer Intelligence 360 already offers GenAI assistance on streamlining marketing planning, journey design and content and creative development. SAS is now introducing three new capabilities in SAS Customer Intelligence 360 for marketers: using GenAI to build recommended audiences based on natural language prompts, a chat experience to interpret audience data and a GenAI suggestion service for email subject lines.The GenAI functionality of Viya makes a meaningful difference to customers planning to:
Accelerate innovation: Seamlessly integrate GenAI models into decisioning workflows, AI/ML applications and existing business processes by using decisioning flow tools like SAS Intelligent Decisioning.Protect data: Support user privacy and security with robust data quality measures, including synthetic data generation, data minimization, anonymization and encryption, so sensitive information remains safeguarded.Create trustworthy and explainable results: Data experts can apply natural language processing techniques to preprocess data and explain the generated output, minimizing hallucinations and token costs.Enhance governance: Use built-in tools to create workflows that validate the life cycle of LLMs, including model risk management.Make more precise decisions: Quantitative decisioning capabilities, critical for successful GenAI reasoning, are built into the Viya platform.Today’s announcement was made at SAS Innovate, the data and AI experience for business leaders, technical users and SAS Partners. Keep up with the latest news from SAS by following @SASsoftwareNews on X/Twitter.
About SASSAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.
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Artificial Intelligence
LTA’s Padel Programme Teams Up with Skylab for Enhanced Performance Analytics
MANCHESTER, England, April 17, 2024 /PRNewswire/ — Skylab, a UK-based specialist in sports technology and performance analysis, proudly announces its partnership with LTA Padel, solidifying its position as a premier provider of specialised services in the sports industry. This collaboration underscores Skylab’s commitment to excellence and showcases its ability to deliver innovative and diverse solutions tailored specifically for elite sports organisations like LTA Padel.
The LTA’s Padel performance programme in Great Britain will utilise Skylab’s Game Intelligence product and Performance Analysis services. The software will empower athletes and coaches alike with interactive and detailed match data, seamlessly integrated into intuitive dashboards that create automated video playlists. The Padel team at the LTA will gain a deeper understanding of padel at the elite level to support their talent identification, player pathway and coaching strategies as they strive to compete with the world’s best.
“Previously, Padel players lacked accurate and robust performance data, which made it impossible to analyse the opposition in detail. Coaches couldn’t answer their players’ key performance questions quickly, and performance directors had to rely on gut feeling and experience when evidencing what elite Padel looks like. However, our product and services provide practitioners with insights into the technical and tactical aspects of the game, as well as the physical demands required for elite-level performance. This allows practitioners to understand and predict the future performance of their players, enabling them to make data-informed decisions” says Ciaran Skinner, Business Development Manager, Skylab.
Skylab is a first-of-its-kind sports technology firm, offering tailored, market-leading Performance Analysis services and bespoke web platforms to elite sporting clients. It revolutionises how elite sports teams and individuals interact, use, and visualise their data. By packaging performance analysis with industry leading UX and bespoke software, partners will be in the position to make better decisions in sport.
For more information about Skylab and its services, please visit skylab.com or contact [email protected]
Notes
Website: www.skylab.com
https://skylab.com/padel-performance-insights/
Social:
LinkedIn – Skylab: https://www.linkedin.com/company/studio-skylab
LinkedIn – Skylab: Elite Performance Analysis: www.linkedin.com/company/skylab-epa/
About Skylab
Skylab is a first-of-its-kind sports technology firm, offering tailored, market-leading Performance Analysis services and bespoke web platforms to elite sporting clients. It revolutionises how elite sports teams and individuals interact, use, and visualise their data. By packaging performance analysis with industry leading UX and bespoke software, partners will be in the position to make better decisions in sport. Current clients include elite teams and organisations across Padel, Football, Athletics, Tennis, Rowing and more.
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Artificial Intelligence
Unisys Digital Workplace Solutions Receives HDI’s IT Support Center Recertification, Recognizing Continued Excellence in IT Support
Certification highlights the company’s ongoing optimization of IT support and recognizes Unisys as the only globally certified managed service provider
BLUE BELL, Pa., April 17, 2024 /PRNewswire/ — Unisys (NYSE: UIS) has achieved recertification through HDI’s IT Support Center Certification program, demonstrating the company’s commitment to exceeding IT support expectations and achieving biannual recertification. HDI is the leading organization dedicated to elevating technical support and service management across enterprises.
HDI’s Support Center Certification is based on an internationally recognized standard for best practices in IT support and global validation of organizations with support divisions that operate efficiently and effectively, ultimately leading to increased customer satisfaction and retention. The audit demonstrated that Unisys provides world-class desk services to its clients and that Unisys customer experience measures are significantly more advanced than those of most organizations.
“I congratulate the entire Unisys team on achieving HDI Support Center Certification for their Global Service Desk,” said Tara Gibb, senior director, HDI. “As an HDI-Certified Support Center, Unisys Global Service Desk is part of an elite circle of support centers dedicated to quality operations, continuous improvement, strategic vision, a positive work environment and high levels of customer service.”
This assessment of Unisys reflects a 15% increase in overall performance and significant strides since the last certification audit in 2021. Key strengths highlighted in the recertification report include adding the Experience Management Office into the overall delivery model, implementing 14 Experience Level Agreements (XLA) in the production environment and focusing on proactive business development predictive experiences. Unisys received high marks for overall leadership, strategy and policy, and people management.
“The recertification represents the continuous work of our team to optimize IT support operations, progress the maturity of our advanced Global Service Desk capability and maintain our commitment to helping our clients achieve breakthroughs with superior IT support,” said Patrycja Sobera, global vice president, Digital Workplace Solutions Delivery, Unisys.
Patrycja Sobera has also been highlighted as one of HDI’s Top 25 Thought Leaders for 2024, and Unisys has been named a finalist in four key categories of the 2024 HDI Global Service and Support Awards:
Best Service and Support ManagerBest Service Improvement InitiativeBest Customer ExperienceBest Use of TechnologyThe HDI Global Service and Support Awards 2024 winners will be revealed at HDI SupportWorld Live in May 2024. In 2023, Unisys was named the winner in the Best Culture and Best Support Organization categories.
To learn more about the company’s global service desk offerings, click here.
About Unisys
Unisys is a global technology solutions company that powers breakthroughs for the world’s leading organizations. Our solutions – cloud, data and AI, digital workplace, logistics and enterprise computing – help our clients challenge the status quo and unlock their full potential. To learn how we have been helping clients push what’s possible for 150 years, visit unisys.com and follow us on LinkedIn.
RELEASE NO.: 0417/9944Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.UIS-C
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