Market Definition
The smart luggage market involves a range of innovative travel bags and suitcases equipped with advanced technologies to enhance the travel experience. These technologies include GPS tracking, built-in digital scales, USB charging ports, remote locking systems, and other smart features designed to provide convenience, security, and connectivity for travelers.
To Know More @ https://www.globalinsightservices.com/reports/smart-luggage-market
Market Outlook
Smart luggage refers to travel bags and suitcases integrated with modern technologies aimed at improving the travel experience by offering features like location tracking, weight monitoring, and on-the-go charging for electronic devices. These high-tech travel accessories are gaining popularity among frequent travelers, business professionals, and tech-savvy consumers who prioritize convenience, security, and connectivity.
One of the factors driving the demand for smart luggage is the increasing number of tech-savvy travelers seeking advanced and convenient travel solutions. The integration of features such as GPS tracking helps in locating lost or stolen luggage, while built-in digital scales prevent overweight baggage fees by allowing travelers to weigh their luggage before reaching the airport. Additionally, USB charging ports and built-in power banks enable travelers to charge their electronic devices on the go, addressing the common issue of finding power outlets while traveling.
The market is further propelled by the growing trend of digital nomadism and the rising demand for business travel. As more professionals adopt a mobile lifestyle, the need for smart, multifunctional luggage that can keep up with their on-the-go requirements is increasing. Innovations in materials and design, such as lightweight yet durable constructions and expandable storage options, are also contributing to the market’s growth.
However, there are several challenges restraining the growth of the smart luggage market. The high cost of smart luggage compared to traditional luggage can be a significant barrier for many consumers. Additionally, concerns regarding the durability and reliability of the embedded technologies can deter potential buyers. The restrictions imposed by airlines on lithium-ion batteries, which are commonly used in smart luggage, also pose a challenge, as travelers may need to remove the batteries before check-in, leading to inconvenience.
Request the sample copy of report @ https://www.globalinsightservices.com/request-sample/GIS24361
Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Request For Report Customization @ https://www.globalinsightservices.com/request-customization/GIS24361
Market Segmentation
The report analyses the global smart luggage market based on type, connectivity, application, and region.
Global Smart Luggage Market by Type
By type, the market is segmented into Sensors, SIM Cards, USB Charging, and Others. The sensor segment accounted for significant market share in 2021 and is expected to register lucrative CAGR over the forecast period. The increased usage of sensor technology in a variety of applications such as cameras and medical equipment, as well as technological advances in gas sensors, among other things, are having an effect on the market expansion. A growing number of medical gadgets and equipment are incorporating sensors as a result of the fast increase in hospitalization. Other factors contributing to the market’s expansion include the growing usage of sensors in applications such as smart grids, home automation, and intelligent transport systems as well as technological advancements in communication and information technology.
Global Smart Luggage Market by Connectivity
By connectivity, the smart luggage market is classified into GPS, Wi-Fi, RFID, and Others. Based on connectivity technology, RFID is expected to witness high growth, owing to existing infrastructure of RFID scanning on the airports. Proliferation of sensor-based smart baggage products is expected to be a growing trend, owing to increasing penetration of IoT devices and relatively low costs & maintenance requirements of the sensors. The smart luggage is connected to the user using a companion application. These applications provide user with intuitive travel experience and providing information including flight schedules, currency exchange, destination, gates, and weather. Use of SIM cards to access the internet is expected to provide growth opportunities to the smart luggage market.
Global Smart Luggage Market by Application
The application segment of the market is bifurcated into Remote Locking, Digital Scaling, Proximity Sensors, and Others. Real-time tracking applications are expected to gain popularity over the forecast timeline, owing to increasing instances of loss of luggage by the airlines. Thefts of luggage and security breaches have encouraged the customers to buy smart luggage equipped with remote locking and proximity alerting capabilities. Digital scaling in the smart baggage systems is expected to gain consumer focus, as it avoids the last-minute hassle of the passenger travelling with an over-weight baggage. The weight sensors in the bag calibrates itself when the bag is empty. When the packed bag is picked up, it indicates the total weight of the bag. Ease of use and benefits such as companion app is expected to drive the smart luggage market demand. However, high costs and lack of awareness about the products are expected to hinder the smart luggage market growth during the forecast timeline.
Major Players
The key players in the smart luggage market Samsonite International S.A., Away, Trunkster, Raden, Bluesmart Black Edition International, Horizn, Delsey, Planet Traveler, American Tourister, and TraxPack, among others.
Request For Discounted Pricing @ https://www.globalinsightservices.com/request-special-pricing/GIS24361
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – $1.2 Billion
- Market Size in 2031 – $12.1 Billion
- CAGR % – 26%
- Historic Period – 2015 – 2020
- Forecast Period – 2022 – 2031
- Base Year – 2021
For In-Depth Competitive Analysis, Buy Now @ https://www.globalinsightservices.com/checkout/single_user/GIS24361
About Us
With Global Insight Services, you receive:
- 10-year forecast to help you make strategic decisions
- In-depth segmentation which can be customized as per your requirements
- Free consultation with lead analyst of the report
- Infographic excel data pack, easy to analyze big data
- Robust and transparent research methodology
- Unmatched data quality and after sales service
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.