US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Industry Insights, Market Size, CAGR, High-Level Analysis: Laptop Backpack MarketThe global laptop backpack market size was valued at USD 1.0 billion in 2018. Rising importance of backpacks as a medium to prevent damage from carrying laptop and tablets while traveling is expected to have a positive impact on the market growth. Additionally, increasing fashion consciousness among the consumers is expected to prompt the usage of advanced laptop backpacks with associated convenience such as bottle carrying spaces. Over the past few years, increased importance of advanced laptop backpacks to protect the laptop from scratches, water damage, moisture, and heat has played a crucial role in increasing the market penetration among the buyers. The industry participants are using advanced polymers such as polyester, Polytetrafluoroethylene, Laminated cotton /poplin, Oilcloth, Polyester fleece, Microfiber, Wool, Teflon, and PU (Polyurethane) in order to address the consumers requirements. As laptop is a charged substance, consumers prefer to use backpacks with excellent shock resistance in order to protect themselves from any kind of mishaps. Therefore, companies are also incorporating shock resistance features in their product variants. Some of the popular shock proof laptop backpack brands are MobiBlast, AISPARKY, SOCKO, Targus, and LAPACKER. Rising consumers demand for lightweight laptop backpacks is driving companies to increase spending on the introduction of new products targeted for corporates as well as students. Additionally, increasing number of online stores as a result of expanding buyer base of smartphone is expected to promote easy access of the product forms irrespective of geographical boundaries.
Application Insights of Laptop Backpack MarketThe business segment accounted for the largest share, accounting for 52.5% share of the global revenue in 2018. Corporate workforce majorly use laptop backpack while traveling either from home or on client locations. Manufacturers are offering warranty services to the consumers in order to establish better customer relationships. For instance, Eastpak Mens is offering Out of Office Backpack for business professionals with 30 years warranty. Additionally, the airline industry is promoting the usage of lightweight laptop backpacks for business travels as a result of implementation of baggage norms by airport authorities of various countries. The students application segment is expected to expand at the fastest CAGR of 4.5% from 2019 to 2025. Laptop and tablets have become necessary gadgets for school students. Inclusion of technical education in annual curriculum of students in schools and colleges of developing economies including China and India as a result of supportive government policies on improving education infrastructure at the national level is expected to open avenues for the market. In addition, rising penetration of online education providers including Vedantu, Toppr, Byjus, Meritnation, and Simplilearn is playing a key role in prompting the parents to purchase laptop and accessories for their children. Furthermore, companies are introducing innovative designed laptop backpacks to attract the student population, which is expected to be a favorable factor for the laptop backpack market growth.
Distribution Channel InsightsThe supermarkets and hypermarkets segment generated a revenue of USD 598.7 million in 2018. These stores are working with different manufacturers to provide discounts on laptop backpacks on their stores. The buyers prefer these channels due to easy availability of different product brands from various suppliers on the same platform. These stores also provide exchange opportunities, where the buyers can return the product within a particular time in case of any defects. Online channels are expected to expand at the fastest CAGR of 4.7% from 2019 to 2025 as they provide various add-on services such as free home delivery services and free cashbacks. E-commerce websites analyze the purchase trend of consumers and provide different offers and discounts to them. Moreover, availability of different product variants, coupled with ease of comparison, will increase the sales of online distribution channel in the next few years. Furthermore, increasing number of social media campaigns on Facebook, YouTube, and Instagram by laptop backpack manufacturers on innovative features such as charging, shock absorption, and anti-theft system is expected to promote the consumers spending on laptop backpacks.
Regional Insights of Laptop Backpack MarketAsia Pacific held the largest market share in 2018 and is projected to register the fastest CAGR of 4.5% from 2019 to 2025. Increasing number of schools and colleges as a result of supportive government policies on improving the education infrastructure in China and India is expected to open new avenues. Online education providers are increasing their offering in this region by understanding the strong potential of middle-income groups. However, presence of a large number of local manufacturers owing to low raw material cost and easy access to labor is expected to pose a key challenge to the premium quality laptop backpack vendors across the globe. North America generated a revenue of USD 237.7 million in 2018. Extensive market reach of key manufacturers such as Adidas A.G., and Nike Inc. in the brick and mortar stores of U.S. and Canada is projected to ensure the continuous product access to the buyers. Furthermore, high concentration of working class professionals in U.S is expected to open new avenues for the market over the next few years.
Market Share Insights of Laptop Backpack MarketMajor laptop backpack manufacturing firms include Nike, Inc.; Kensington Computer Products Group; Samsonite International S.A.; WINPARD; The Targus Corporation; Adidas AG; Belkin International, Inc.; Li-Ning Co., Ltd.; Samsonite International S.A.; and Tumi Holdings, Inc. Companies are working on new product development with attractive features to increase their market share. For instance, in October 2018, China based electronic company, Xiaomi Corporation has launched Mi Casual Backpack with features including YKK Quality zippers, anti-splash, and pocket for umbrella or water bottle. This backpack will be available in three different color variants of Black, Grey, and Blue.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Laptop Backpack Market Research ReportThis 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 2015 to 2025. For the purpose of this study, this market research report has segmented the global laptop backpack market report on the basis of application, distribution channel, and region:
Application Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Hypermarkets & Supermarkets
- Convenience Stores
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...