SNS Insider Black Friday Offer
Smart Luggage Market

Smart Luggage Market Size, Share & Segmentation by Technology (Sensors, SIM Cards, USD Charging and Connectivity Technology), by Connectivity (GPS, Wi-Fi, RFID, Bluetooth), by Application (Remote Locking, Digital Scaling, Real-time Tracking, Proximity Sensors, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1590 | June 2022 | Region: Global | 120 Pages

Report Scope & Overview:

The Smart Luggage market size was valued at USD 1.15 Bn in 2021 and is expected to reach USD 5.11 Bn by 2028, and grow at a CAGR of 23.76% over the forecast period 2022-2028.

Any useful bag or suitcase with high-tech features is referred to as smart baggage. Smart baggage has sophisticated features such as clothes and accessory storage in addition to traditional uses. GPS locators, USB connections for charging your electronics, solar-powered batteries, and remote lock systems are all aspects of smart baggage. Instead, of carrying an external charger, people may just charge their phones or other gadgets by plugging them into their luggage.

Smart Luggage Market

The fundamental reason for replacing traditional baggage with smart luggage is the changing needs and wants of customers. The goal of creating smart baggage is to not only offer innovation but also to make it user-friendly. Smart luggage and bags are available in a variety of colors and sizes. Smart baggage may be a terrific travel companion for both experienced and inexperienced travelers. It provides you with considerable peace of mind while allowing you to enjoy yourself.

MARKET DYNAMICS:

KEY DRIVERS:

  • With the rise of the Internet of Things (IoT) and the need for IT-based applications, technical innovation is on the rise.

  • The fast-expanding travel and tourism business has reached maturity.

RESTRAINTS:

  • lack of knowledge about smart baggage.

  • Smart baggage is expensive, and there is a scarcity of these bags.

OPPORTUNITY:

  • Smart baggage goods combined with analytics are projected to give sustainable business potential.

CHALLENGES:

  • Smart baggage with non-removable lithium batteries has been banned by airlines because the lithium battery is unsafe and can cause fire, according to airline lithium regulations.

IMPACT OF COVID-19:

The COVID-19 issues have had a significant impact on the desire for smart baggage. People are remaining in their houses due to the lockdown, and all tourist attractions are closed. This has an impact on smart baggage sales. Travel is also restricted as a result of COVID-19, which has an influence on the travel market's financial status. Retail outlets have been shuttered as a result of the lockdown, which has harmed company sales. Prior to the COVID-19 pandemic, the corporate and leisure travel markets were growing. Due to the increasing elimination of regional and worldwide travel limitations, the travel sector is likely to be on track in the next years. During the forecast period, the expanding travel sector around the world is likely to boost the smart baggage market. Consumers like the ease and enjoyment that smart baggage delivers. Consumers may enjoy their travel without difficulty thanks to the built-in features. As a result, the smart baggage market is predicted to develop throughout the forecast period.

MARKET ESTIMATION:

Customers may now enjoy their travel with a high level of comfort thanks to technological advancements. During the projected period, connectivity technology is estimated to account for the majority of smart baggage sales. Because of the current infrastructure of RFID scanning in airports, RFID is predicted to increase rapidly based on connection. By use of connectivity technology Because of the rising penetration of IoT devices and the comparatively cheap prices and maintenance needs of the sensors, the proliferation of sensor-based smart luggage items is predicted to be a major trend. A companion application connects the smart baggage to the user. These apps offer a simple and intuitive travel experience, as well as information on flight schedules, currency conversion, destination, gates, and weather. The smart baggage sector is projected to benefit from the use of SIM cards to access the internet.

Due to an increase in the number of cases of luggage loss by airlines, real-time monitoring systems are predicted to acquire popularity throughout the forecast timeline. Baggage thefts and security breaches have prompted users to purchase smart luggage with remote locking and proximity warning features. Consumers are likely to pay more attention to digital scaling in smart baggage systems since it eliminates the last-minute headache of a traveler traveling with excess luggage. When the bag is empty, the weight sensors in the bag adjust themselves. When the packed bag is lifted up, the entire weight of the bag is displayed. The demand for smart baggage is predicted to be driven by ease of use and perks such as companion apps. During the forecast period, however, excessive costs and a lack of knowledge about the goods are projected to stymie the growth of the smart baggage market.

KEY MARKET SEGMENTS:

On The Basis of Technology:

  • Sensors

  • SIM Cards

  • USD Charging

  • Connectivity Technology

On The Basis of Connectivity:

  • GPS

  • Wi-Fi

  • RFID

  • Bluetooth

 On The Basis of Application:

  • Remote Locking

  • Digital Scaling

  • Real-time Tracking

  • Proximity Sensors

  • Others

Smart Luggage Market

REGIONAL ANALYSIS:

In terms of incorporating technological advancements into products, North America leads the industry. People in North America prefer technologically sophisticated items, and public awareness of these products' benefits is expected to drive the smart baggage market in North America over the projected period.

Europe receives a large number of travelers each year since it is the most popular tourist destination. Furthermore, when compared to people from other areas of the world, Europeans travel the most. As a result, Europe's smart baggage sector has enormous potential. During the projected period, the region is likely to occupy a significant proportion of the worldwide smart baggage market.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Samsonite International S.A., Away, Trunkster, Raden, Bluesmart Black Edition, International, Horizon, Delsey, Planet Traveler, Ready Traveler, and TraxPack.

Smart Luggage Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 1.15 Bn
Market Size by 2028  US$ 5.11 Bn
CAGR   CAGR of 23.76% From 2022 to 2028
Base Year  2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Technology (Sensors, SIM Cards, USD Charging and Connectivity Technology)
• by Connectivity (GPS, Wi-Fi, RFID, Bluetooth)
• by Application (Remote Locking, Digital Scaling, Real-time Tracking, Proximity Sensors, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Samsonite International S.A., Away, Trunkster, Raden, Bluesmart Black Edition, International, Horizon, Delsey, Planet Traveler, Ready Traveler, and TraxPack
Key Drivers • With the rise of the Internet of Things (IoT) and the need for IT-based applications, technical innovation is on the rise.
Market Opportunities • Smart baggage goods combined with analytics are projected to give sustainable business potential.

 


Frequently Asked Questions (FAQ) :

Ans: - The Smart Luggage market size was valued at USD1.15Bn in 2021.

Ans: - Smart baggage goods combined with analytics are projected to give sustainable business potential.

Ans: - North America leads the industry in terms of market share.

Ans: - The primary growth tactics of Smart Luggage market participants include merger and acquisition, business expansion, and product launch.

Ans: - The study includes a comprehensive analysis of Speech-to-text API Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Smart Luggage Market Segmentation, by Technology

8.1 Sensors

8.2 SIM Cards

8.3 USD Charging

8.4 Connectivity Technology

 

9. Smart Luggage Market Segmentation, by Connectivity

9.1 GPS

9.2 Wi-Fi

9.3 RFID

9.4 Bluetooth

 

10. Smart Luggage Market Segmentation, by Application

10.1 Remote Locking

10.2 Digital Scaling

10.3 Real-time Tracking

10.4 Proximity Sensors

10.5 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profiles

12.1 Samsonite International S.A.

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Away

12.3 Trunkster

12.4 Raden

12.5 Bluesmart Black Edition International

12.6 Horizon

12.7 Delsey

12.8 Planet Traveler

12.9 Ready Traveler

12.10 TraxPack.

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

 

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but is not limited to getting rid of the many typos, duplication of numbers, or missing any important information. The people involved in this process include technical content writers, research heads, and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.