Global Smart Luggage Market Size To Grow At A CAGR Of 21.2% In The Forecast Period Of 2023-2028
- March 23, 2023
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The Smart Luggage Global Market, Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global smart luggage market, assessing the market on the basis of its segments like technology, luggage connectivity, application, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Smart Luggage Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 21.2%
The global smart luggage market is expected to register growth during the forecast period on account of the growing travel and tourism industry across the globe. With the introduction of advanced features like Bluetooth connectivity, IoT, and GPS tracking in luggage, the consumer preference for luggage is likely to shift from traditional to smart luggage. This is further expected to propel the market demand for smart luggage over the coming years.
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The increasing emphasis of several manufacturers on smart luggage to add innovative features for greater user-friendliness is expected to push forward the smart luggage market growth across the globe. The increasing demand for smart luggage among seasoned and new travellers is further expected to fuel the market growth as such luggage offers more advantages during travel. This is further expected to gain consumer traction over the forecast period.
Based on luggage connectivity, the RFID segment is expected to enhance the market growth of smart luggage due to the increasing usage of radio frequency identification baggage tracking on airlines. This is because it offers the data that help airlines to efficiently track the bag with all airport processes. This technology is extensively preferred at airports due to security concerns.
Smart Luggage Industry Definition and Major Segments
Smart luggage is known as suitcases having technology capabilities such as USB ports that help to connect portable chargers for easy access. Some other high-tech features in smart luggage are device charging, electronic locks, RFID, GPS tracking, remotes, Bluetooth connectivity, app-enabled controls, electronic scales, and Wi-Fi connectivity, among others. Such innovative features in the luggage make travel easier.
By technology, the market is classified into:
• USB Port
• Sim Card
Based on luggage connectivity, the market is segmented into:
By application, the market is classified into:
• Remote Locking
• Digital Scaling
• Real-time Tracking
On the basis of distribution channels, the market is categorised into:
• Specialty Stores
• Brand Stores
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Smart Luggage Market Trends
The specialty stores distribution channel is expected to witness substantial growth in the smart luggage market on account of their extensive offerings of a range of backpacks and travel luggage with advanced features. The high preference among consumers to buy luggage from these stores is likely to fuel the segment growth in the market. Trained sales personnel at such stores help the consumer in understanding the features and quality of the smart luggage.
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Geographically, the Asia Pacific region is expected to gain momentum in the smart luggage market share over the coming years on account of a growing population of travellers. The surging spending on travel trips by consumers in countries like China and Japan is expected to aid the market demand for smart travel luggage across the Asia Pacific. An upsurge in air traffic, especially in highly populated countries like China and India, is expected to propel the market growth of smart luggage in the region over the coming years.
Meanwhile, the North American region is expected to witness growth in the smart luggage market share on account of the rapid adoption of advanced technology in the region. The robust presence of key market players coupled with the rising focus of producers on designing innovative products is expected to propel the market growth of smart luggage across the region.
Key Market Players
The major players in the global smart luggage market report are:
• Samsonite International S.A
• Horizn Studios
• Delsey Paris
• JRSK, Inc. (Away)
• Bluesmart Inc.
• Plevo, LLC.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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