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.
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.
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.
lack of knowledge about smart baggage.
Smart baggage is expensive, and there is a scarcity of these bags.
Smart baggage goods combined with analytics are projected to give sustainable business potential.
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.
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:
On The Basis of Connectivity:
On The Basis of Application:
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
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, and TraxPack.
|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|
|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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
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
8.2 SIM Cards
8.3 USD Charging
8.4 Connectivity Technology
9. Smart Luggage Market Segmentation, by Connectivity
10. Smart Luggage Market Segmentation, by Application
10.1 Remote Locking
10.2 Digital Scaling
10.3 Real-time Tracking
10.4 Proximity Sensors
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Samsonite International S.A.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.5 Bluesmart Black Edition International
12.8 Planet Traveler
12.9 Ready Traveler
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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