Carry Cases Market Size & Analysis, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

  • TBI755492
  • March 10, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

Industry Insights, Market Size, CAGR, High-Level Analysis: Carry Cases Market

The global carry cases market size was estimated at USD 6,088.6 million in 2018 and is expected to witness remarkable growth with a CAGR of 5.9% from 2019 to 2025. The growing adoption of consumer electronics such as notebooks and tablets has stimulated the demand for protective cases of these devices. Moreover, the aesthetic appeal that these products deliver is further expected to attract customers to purchase these products. The carry cases market is anticipated to witness growth due to the inclination of younger generations toward using notebooks for daily activities, along with the rise in online retail channels that provide a wide variety of carry cases at cost-effective prices. Furthermore, the industry is witnessing rapid change in terms of improvements in quality with respect to design, material, and aesthetics The penetration of mobile devices in developing regions has stimulated the purchase of carry cases for protection and mobility. Additionally, functional products such as smart cases provide not only protection but also information about device status, available functions, and others, to the user. The Asia Pacific region has the highest demand for these products due to local manufacturing and low import costs of foreign goods. Thus, it has led to the establishment of a potential market in this region that contributes significantly toward the adoption of carry cases. Product innovation in terms of functionality and materials used is presumed to propel the market growth. Furthermore, features such as all-terrain usage, lightweight design, and multi-device storage, along with customized solutions are expected to increase the popularity of these products.

Product Insights of Carry Cases Market

Backpacks dominated the product segment in 2018 with nearly 129.3 million units shipped in the same year. Carry cases are mainly used by students and working professionals, thereby, enhancing the market growth for backpacks. Furthermore, innovative designs in backpacks such as invisible zipper bags and provision for a headphone outlet are expected to promote the adoption of these cases over the forecast period. Backpacks come in various materials such as leather, canvas, nylon, and PVC, among others, which make them suitable for numerous purposes such as sporting, personal, and professional. Moreover, the introduction of smart backpacks is anticipated to stimulate the market demand for the backpack segment owing to features such as anti-theft system and portable charging. Customer

Type Insights of Carry Cases Market

The commercial segment was valued at USD 788.4 million in 2018 and is expected to be the fastest-growing customer type segment. Commercial businesses deal with a large volume of goods, thus leading to greater segment growth and higher profits for market players. Furthermore, they enter into long-term contracts for the supply of accessories, including backpacks and sleeves, which increases income for the supplier company over an extended period of time. Carry cases such as sleeves and backpacks are used for promotional activities as part of the branding strategy of businesses. For instance, educational institutes provide free backpacks or laptop messenger bags to students during admissions. Customized carry cases are a lucrative business in developed as well as emerging regions, thereby boosting market growth.

Regional Insights of Carry Cases Market

Asia Pacific is the fastest growing regional market, registering a CAGR of 7.9% over the forecast period. The increasing adoption of consumer electronics for personal and business purposes has enabled the growth of carry cases in this region. Owing to cheap labor, manufacturing activities are outsourced to countries such as China and India, which has in turn led to market growth in Asia Pacific.  The rise in disposable incomes in Asia Pacific has led to a subsequent increase in high-value purchases such as laptops and mobile phones, thereby enhancing the market growth in this region. Additionally, the penetration of global consumer electronic brands such as Samsung Electronics and Apple, Inc. in the Asia Pacific region has stimulated the purchase of these products for the storage and protection of electronic devices.    

Market Share Insights of Carry Cases Market

The key players in the market include Targus, Torg, Fabrique Ltd.; Lenovo, Swissgear, Thule Group, AsusTeK Computer Inc.; Case Logic, North Face, and Incase Design Corp.; among others. The market is highly competitive due to the presence of local players. Moreover, the presence of counterfeit products makes it difficult for existing players to gain revenue share. New players can easily enter the market owing to fewer barriers to entry such as regulations and policies. Most of the industry participants focus on innovating existing products to improve their functionality, such as enhanced protection and attractive designs. Pricing and quality are the major competitive parameters in the market.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Carry Cases Market Research Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global carry cases market based on product, customer type, and region. Product Outlook (Revenue, USD Million; Volume, Million Units; 2014 - 2025) Backpack Briefcase Messenger bags Sleeves Others Customer Type Outlook (Revenue, USD Million; Volume, Million Units; 2014 - 2025) Consumer Commercial

Table of Contents
Chapter 1 Methodology and Scope                 1.1 Research Methodology                 1.2 Research Scope and Assumptions                 1.3 List of Data SourcesChapter 2 Executive Summary                 2.1 Carry Cases - Industry Snapshot & Key Buying Criteria, 2014 - 2025                 2.2 Global Carry Cases Market, 2014 - 2025 (USD Million)                 2.3 Global Carry Cases Market , 2014 - 2025 (Million Units)                     2.3.1 Global carry cases market, by region, 2014 - 2025                     2.3.2 Global carry cases market, by product, 2014 - 2025  
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