Global Smart Luggage Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Smart Luggage Market 2021 (Includes Business Impact of COVID-19)
Global Smart Luggage Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global smart luggage market report has been segmented on the basis of technology, application, and region.
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The global Smart Luggage market size was valued at USD $979.15 million in 2020 and is projected to reach $4447.77 million by 2030, and is anticipated to expand at a CAGR of 16.40% over the forecast period from 2020 to 2030.


Global Smart Luggage Market: Overview


Smart luggage also known as smart bag. Smart luggage is luggage which offers additional smart functionalities apart from traditional use such as storage for apparel and accessories. These bags are consisting of various components such as a battery to power itself or to charge phones and other devices.


Global Smart Luggage Market: Dynamics


Increasing leisure and business travel is one of the key factor expected to drive growth of the global market. Rapidly growing travel and tourism industry in developed as well as developing countries is a factor projected to support the revenue growth of the target market. Furthermore, increasing demand for smart luggage with various components and technologies such as electronic locks, biometric features, Bluetooth, GPS, etc. is another factor fueling the growth of target market. Moreover, higher disposable income and urbanization in emerging countries are some other factors anticipated to propel the global market growth over the forecast period. However, the high cost of smart luggage is a major factor expected to hamper growth of the global market. In addition, lack of awareness regarding smart luggage and its limited availability of these bags are some additional factors projected to challenge growth of the global market to a certain extent.


Global Smart Luggage Market: Segmental Analysis


Among the application segments, the real-time tracking segment is projected to register substantial growth, owing to increasing incidents of luggage misplacement by airlines. In addition, increasing popularity of Smart GPS luggage trackers with advent technologies is a factor expected to support the growth of the target market.


Global Smart Luggage Market: Regional Analysis


The market in North America is expected to dominate the smart luggage market and continue its dominance over the forecast period. This can be attributed to the quick adoption of technologically advanced products and a strong presence of manufacturing companies such as ANN SACKS Tile & Stone, In., and many others in countries in the region.  Smart luggage market in Asia Pacific is expected to register significant growth, owing to growing urbanization. In addition, improved standard of living, increased spending capacity, etc. are some other factors anticipated to fuel growth of the target market. Increasing inter-continental traveling coupled with a fair price of flight tickets is a factor expected to propel the target market growth. Furthermore, the rapidly growing travel and tourism industry in developing countries such as India and China is a factor expected to support the revenue growth of the target market. For instance, according to the document published by China National Tourism Administration (CNTA), China is becoming one of the most essential outbound tourism markets across the globe. In addition, Chinese outbound travelers were around 120 million in 2015, which was an increase of nearly 5 Mn travelers as compared to the previous year.

Global Smart Luggage Market Segmentation:

Segmentation by Technology:

  
Connectivity
  
Wi-Fi
  
Bluetooth
  
GPS
  
RFID
  
SIM Cards
  
Sensors
  
USB Charging

Segmentation by Application:

  
Digital Scaling
  
Remote Locking
  
Texting Alerts
  
Real-time Tracking
  
Proximity Sensors


Key Market Players included in the report:


  
Ann Sacks Tile & Stone Inc.
  
Arizona Tile, L.L.C
  
Away Com INC
  
Barracuda Inc.
  
Bedrosians Tile & Stone
  
Crossville Inc.
  
Dal-Tile Corporation
  
Delsey S.A.
  
Enviroglas
  
Horizn Studios GmbH
  
Marazzi Group S.R.L
  
Modobag
  
NEit Products Ltd
  
Planet Traveler USA
  
RIMOWA GmbH & Co Distribution KG
  
Samsonite IP Holdings S.AR.L
  
Terra Green Ceramics Inc
  
TraxPack LLC
  
Villagio Tile & Stone
  
Wausau Tile, Inc.