Smart Luggage Market Size, By Technology (Sim Card, USB Charging, Sensors, Others), Connectivity (Wi-Fi, Bluetooth, GPS, RFID), Application (Real-time Tracking, Texting Alerts, Remote Locking, Digital Scaling, Others), and By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
Published:
March 2020
Report Code:
BWC19419
Available Format:
PDF PDF Icon
Pages:
180

smart luggage market bwc19419

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Global Smart Luggage Market Forecast and Trends

The global Smart Luggage market has reached USD 1.23 Billion in 2019 and anticipated to grow nearly at a CAGR of above 11 % to reach 2.5 Billion USD by 2026. Increasing travel & tourism, product design & quality innovations, rising demand for IoT-based applications, and the growing consumer shift to recreational lifestyle from traditional lifestyles are pushing organizations to focus on incorporating the innovative technological features into their current offerings. The luggage industry is adding advanced technological features such as tracking systems, automatic locking luggage, etc. As a result, several luggage companies and crowd-funded start-ups are adding to the luggage products tech features to address the stagnant innovation. The increasing penetration of the Internet is some of the main drivers for introducing technology applications in the luggage industry.

Global Smart Luggage Market Overview:

Smart luggage is user-friendly bags and suitcases, which has tech features. Smart luggage tech features include Wi-Fi, GPS, Bluetooth, Portable charger, digital lock, etc. As the Internet has become part of our everyday lives and with changing customer needs, smart luggage will replace conventional luggage. The primary reason for the technological innovations in bags is to make the customer's journey easier and hassle-free. These opportunities push luggage companies to integrate technological features into their products to remain in the ever-changing business climate. The convenience that smart luggage provides has increased the need for smart luggage. The customer's changing desires and expectations have replaced conventional luggage with smart luggage.

Growth drivers

Mishandling of luggage

 For frequent travelers losing, damaging, or receiving delayed baggage in transit is a nightmare. Airport authorities often face difficulties in keeping track of and handling the vast number of luggage with an increase in the number of travelers worldwide every year. Also, the airport and the airlines have to monitor the passenger baggage status in real-time before, after, and on the flight. These problems can be solved with the use of real-time tracking of smart luggage.

User-friendly in practical applications

In upcoming years, the demand for user-friendly luggage will increase rapidly. Growth is accredited to rising per capita income and shifting consumer demands for comfortable lifestyles. Luggage-related anxiety during any part of the trip reduces significantly, thanks to technology. In the travel industry, smart luggage is a game-changer with built-in features such as GPS locators, USB ports to charge your devices, and remote locking systems will make traveling convenient.

Restraints

High Cost

As innovative technologies are used in the smart luggage to make the travel easier and hassle-free. Leading the price of the smart luggage to increase significantly as compared to the traditional luggage. High prices may hamper the growth of the Smart Luggage market over the forecast period.

Global Smart Luggage Market: By Technology

Based on technology, the Smart Luggage market segmented into Sim Card, USB Charging, Sensors, and Others. Sensors are expected to have higher market growth in the forecast period. The increasing demand for IoT-based applications, increasing internet penetration, and the need for product & quality improvements create significant opportunities for technologies. Sensors will be instrumental in tracking lost or misplaced airport luggage. Within the next decade, many small and medium-sized technology providers are expected to enter the market.


Global Smart Luggage Market: Connectivity

Based on Connectivity, the Smart Luggage market segmented into Wi-Fi, Bluetooth, GPS, RFID. Due to the existing infrastructure for scanning RFID tags at the airports, the RFID segment is expected to grow during the forecast period. RFID offers a faster and more accurate automated solution than barcode scans. RFID tags that are applied to baggage are read before, and after each flight at airports, the bags can be recognized and tracked without the need for human intervention. Its main goal is to lower the number of lost luggage and the related costs, saving time and money that are two critical factors for travelers.

Global Smart Luggage Market: Applications

Based on Applications, the Smart Luggage market is bifurcated into Real-time Tracking, Texting Alerts, Remote Locking, and others. Due to the airline's rising cases of luggage misplacement, the real-time tracking and remote locking segment are expected to grow during the estimated period. Real-time monitoring of airport luggage can be done using smartphone and smartwatch applications, which makes the process easier.

Global Smart Luggage Market: Regional insights

By geography, the global Smart Luggage Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America will have the largest market share, mainly due to technological advancements and their acceptance of smart luggage. Asia-Pacific is anticipated to have the fastest-growing market in the forecast horizon after North America, due to rising urbanization and surge in travelers from nations like China, India, Malaysia and Singapore, and with increasing levels of air traffic. Also, increasing demand for stylish and diverse luggage items, various modern and smart suitcase categories have increased demand for these products.


The objective of the Study:

To analyze and forecast the global Smart Luggage market size of the market in terms of value.

To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Smart Luggage market into five regions, namely, North America, Europe, Asia Pacific, Latin America and Middle east & Africa.

To outline, categorized, and forecast the Global Smart Luggage market based on the technology, connectivity, application, and region.

To examine competitive developments like technological advancement, services, and regulative framework within the global Smart Luggage Market.

To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million/Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Technology, Connectivity, Application

Key Players

Samsonite. Bluesmart Black Edition, Horizn Studios GmbH, TraxPack LLC, Modobag, Delsey S.A., Planet Traveler USA, Away Com INC, Néit Products Ltd, Trunkster, RIMOWA, Modobag, Airbolt, Arlo Skye, Shelfpack, Progo, Genius Pack, Away Carry-on, Néit Collapsible Suitcase and, Other Prominent Players.

By Technology

·         Sim Card

·         USB Charging

·         Sensors

·         Others

By Connectivity

·         Wi-Fi

·         Bluetooth

·         GPS

·         RFID

By Applications

·         Real-time Tracking

·         Texting Alerts

·         Remote Locking

·         Digital Scaling

·         Others

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

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