The Smart Luggage Market Size was valued at USD 1.38 Billion in 2023 and is expected to reach USD 5.77 Billion by 2031 and grow at a CAGR of 19.6% over the forecast period 2024-2031.
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.
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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.
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
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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
The major key players are Samsonite International S.A., Away, Trunkster, Raden, Bluesmart Black Edition, International, Horizon, Delsey, Planet Traveler, Ready Traveler, TraxPack & Other Players
Samsonite International S.A - Company Financial Analysis
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.38 Bn |
| Market Size by 2031 | US$ 5.77 Bn |
| CAGR | CAGR of 19.6% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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 (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, 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. |
Ans: - The Smart Luggage market size was valued at USD 1.42 Bn in 2022.
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 Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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
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