Industry Background:
A backpack system is a bag user can wear on their back, with straps over shoulders. This is available in various forms such as a single belt or hip belt. The rapid development of e-commerce platforms is driving growth in this industry. Another major growth factor is rapid development in technology. An increase in interest in traveling is driving demand in this industry.This growth is primarily driven by Increase in Disposable Incomes across Developed Regions
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as SYSTEM G (Hong Kong), Db Equipment (United Stated), WANDRD Products (New Zealand), Boundary Supply (United States), Harber London Ltd. (England), Lowpro (Italy), Black Ember (United States), Boundary Supply (United States), Samsonite (Hong Kong) and Wildcraft (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On September 21, 2023, JanSport, a popular backpack brand, entered into a strategic partnership with Arc'teryx, a premium outdoor gear company. This partnership aims to combine JanSport's expertise in everyday backpacks with Arc'teryx's innovative technology and design expertise to create a new line of high-performance backpacks.
In Oct 2021, Lowepro’s announced the launch of a new PhotoSport backpack line. There is basically multi-trek backpacks that deliver advanced protection for camera systems using the GearUp PROII camera box. Through this initiative, the company becomes more competitive in this industry.This industry is witnessing an increasing number of new market entrants. Market key players are focusing on advanced digital technologies, improving efficiency, and other services. Market growth opportunities are captured by tracking the ongoing technological advancement, services development, and others.
Influencing Trend:
High Adoption for Technology Enabled Backpack
Market Growth Drivers:
Increase in Disposable Incomes across Developed Regions, The Rise in Interest towards Travel and Increase in Concern towards Boardsports Lifestyle through Branding and Styling
Challenges:
High Cost Associated With Technology Enabled Backpack System
Restraints:
Stable Profitability has increased the Number of Players in the Industry over the Last One Year Leading to Stiff Competition for New Market Entrants
Opportunities:
Development in Mobile Lifestyles and Market Providers are Investing on Fulfilling Technical Demand
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Backpack System Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Backpack System Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Backpack System players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Backpack System Study Sheds Light on
The Backpack System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Backpack System industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Backpack System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.