Industry Background:
Smart luggage is any suitcase or bag which contain high tech capabilities. Instead of carrying portable chargers, a person can just plug phones into bags. It also has electronic locks, GPS, Bluetooth features, and even fingerprints. Some bags even feature solar recharging capabilities to offer mobile charging facility. Growing penetration for the internet is helping people to become technology friendly. The changing needs and demands of the consumers are helping to swap the traditional luggage with the smart luggage. The main aim of smart luggage is not just to add innovation but to also make it user-friendly. The main reason behind adding innovation is that customers enjoy the journey with the maximum ease they can.According to AMA, the market for Smart Luggage is expected to register a CAGR of 24.4% during the forecast period to 2026. This growth is primarily driven by High Demand for Technologically Advanced Products in North America, The proliferation of IoT Based Applications in Luggage Industry in North America, Growing Focus on Innovative Product Design and Quality in Luggage Segment in Europe, Rapid Growth in Tourist Traffic and Air Travel in the Asia Pacific, Increase in Adoption of Trendy Luggage in Latin America and The focus of Manufacturers to Provide Tech-Savvy Luggage in the Middle East and Africa.
The Consumer Goods sector in the North America 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 Barracuda, Inc. (United States), Samsonite IP Holdings S.AR.L (Luxembourg), Horizn Studios GmbH (Germany), Modobag (United States), Delsey S.A. (France), Planet Traveler USA (United States), Away (United States), RIMOWA GmbH & Co Distribution KG (Germany), Bluesmart (United States) and Lugloc (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Recently, Bluesmart the creators of the world's first smart suitcase has introduced Series 2, a new smart travel products system. The line of products includes carry-on luggage, checked bag, laptop bag, and passport pouch. The product is powered by its second-generation technology, all products connect to Bluesmart's new app, to work as a system assisting travelers along their journey. The line brings upgraded materials, expanded capacity, colors and a new sleek, and iconic look.
Market Drivers
- High Demand for Technologically Advanced Products in North America
- The proliferation of IoT Based Applications in Luggage Industry in North America
- Growing Focus on Innovative Product Design and Quality in Luggage Segment in Europe
- Rapid Growth in Tourist Traffic and Air Travel in the Asia Pacific
- Increase in Adoption of Trendy Luggage in Latin America
- The focus of Manufacturers to Provide Tech-Savvy Luggage in the Middle East and Africa
Market Trend
Restraints
- Data Privacy Concerns
- Premium Price Being Charged
Opportunities
Integration of These Products with Analytics and Use of SIM Cards to Access the Internet
Challenges
Lack of Awareness and Knowledge of the Products
AMA Research follow 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 mostly 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 showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include 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, Smart Luggage Study Sheds Light on
The Smart Luggage Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Luggage industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Luggage industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey 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 value they currently claim, or capture the new addressable opportunity.