Smart Luggage Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast to 2024
Category: #business  By Rahul Varpe  Date: 2021-08-02
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Smart Luggage Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast to 2024

Global Smart Luggage Market was estimated to be over USD 630 million in 2016. This growth is accredited to the rising per capita income and shift in the consumer demands for convenient lifestyle. The demand for user friendly luggage for practical applications will surge the industry demand in the next few years. The penetration of advanced technologies such as Bluetooth, PS and digital scaling which enables the users to check the weight of the baggage and offer locking proximity alternatives.

High cost associated with these products coupled with the lack of awareness is expected to hinder the smart luggage market growth over the forecast timeline. Moreover, the technology consumers high energy resources such as the lithium batteries, which is mentioned as a hazardous substance amongst the aircraft authority posing a challenge to its largescale adoption.

The connectivity technology segment is expected to witness growth in the smart luggage market due to the demand from the customers to access the luggage with convenience. It also enables the users to get insights on the gates, currency exchange and flight schedules. This connected smart luggage are designed such that to shut down when it is onboard and automatically switch on while landing to meet the regulations of the government regarding the usage of wireless technologies.

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The digital scaling application segment will have the highest growth in the smart luggage market due to the escalating demand from the consumer side to analyze the total weight of the bag prior to the journey. This enables the travelers to avoid the hassles associated with the travel and also eliminates the risks associated with over packing.

The Asia Pacific smart luggage market is expected to witness high growth owing to the rising urbanization and increase in the air traffic levels specifically in countries such as Malaysia and Singapore. Many organizations are heavily investing in the technology as it enables them to offer better customer experiences and monitor the process based on different insights. Furthermore, a rising demand for sophisticated and varied luggage products, numerous trendy and intelligent suitcase categories have escalated the demand for these products.

Key players participating in the smart luggage market include: Bluesmart, Delsey, Samsonite, Away, Trunkster, Reden, Barracuda, and Lugloc. The industry is highly consolidated due to the presence of few major companies which are constantly coming up with new technologies and tech-savvy features. Furthermore, these companies are also working towards enhancing the current range of products and new product development to gain the competitive advantage.

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Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Methodology
    • 1.1.1. Initial data exploration
    • 1.1.2. Statistical model and forecast
    • 1.1.3. Industry insights and validation
    • 1.1.4. Definition and forecast parameters
  • 1.2. Data Sources
    • 1.2.1. Primary
    • 1.2.2. Secondary

Chapter 2. Executive Summary

  • 2.1. Smart luggage industry 360 degree synopsis, 2013 - 2024
    • 2.1.1. Business trends
    • 2.1.2. Regional trends
    • 2.1.3. Technology trends
    • 2.1.4. Application trends

Chapter 3. Smart Luggage Industry Insights

  • 3.1. Industry segmentation
  • 3.2. Industry landscape, 2013 - 2024
  • 3.3. Industry ecosystem analysis
    • 3.3.1. Vendor matrix
    • 3.3.2. Distribution channel analysis
  • 3.4. Technology landscape
    • 3.4.1. Weight sensors
    • 3.4.2. Companion apps
    • 3.4.3. USB charging
  • 3.5. Luggage industry outlook
    • 3.5.1. North America
    • 3.5.2. Europe
    • 3.5.3. Asia Pacific
    • 3.5.4. Latin America
    • 3.5.5. MEA
  • 3.6. Price trends
  • 3.7. Regulatory landscape
    • 3.7.1. U.S.
    • 3.7.2. EU
    • 3.7.3. China
  • 3.8. Industry impact forces
    • 3.8.1. Growth drivers
    • 3.8.1.1. High demand for technologically advanced products in North America
    • 3.8.1.2. Proliferation of IoT based applications in luggage industry in North America
    • 3.8.1.3. Growing focus on innovative product design and quality in luggage segment in Europe
    • 3.8.1.4. Rapid growth in tourist traffic and air travel in Asia Pacific
    • 3.8.1.5. Increase in adoption of trendy luggage in Latin America
    • 3.8.1.6. Focus of manufacturers to provide tech-savvy luggage in Middle East and Africa
    • 3.8.2. Industry pitfalls & challenges
    • 3.8.2.1. Lack of awareness and knowledge of the products
    • 3.8.2.2. Data privacy concerns
    • 3.8.2.3. High cost of products
  • 3.9. Growth potential analysis
    • 3.9.1. Business models
  • 3.10. Porter's analysis
    • 3.10.1. Supplier power
    • 3.10.2. Buyer power
    • 3.10.3. Threat of new entrants
    • 3.10.4. Threat of substitutes
    • 3.10.5. Internal rivalry
  • 3.11. Competitive landscape, 2016
    • 3.11.1. Strategy dashboard
  • 3.12. PESTEL analysis
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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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