Smart Luggage Market Outlook 2020 | Business development | Research Report 2027 - Cole of Duty

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Smart Luggage market.

Trusted Business Insights presents an updated and Latest Study on Smart Luggage Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Smart Luggage market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Global Smart Luggage Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028 is a recent report generated by Trusted Business Insights. The global smart luggage market report has been segmented on the basis of technology, application, and region.

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Global Smart Luggage Market: Overview

Smart luggage also known as smart bag. Smart luggage is luggage which offers additional smart functionalities apart from traditional use such as storage for apparel and accessories. These bags are consisting of various components such as a battery to power itself or to charge phones and other devices.

Global Smart Luggage Market: Dynamics

Increasing leisure and business travel is one of the key factor expected to drive growth of the global market. Rapidly growing travel and tourism industry in developed as well as developing countries is a factor projected to support the revenue growth of the target market. Furthermore, increasing demand for smart luggage with various components and technologies such as electronic locks, biometric features, Bluetooth, GPS, etc. is another factor fueling the growth of target market. Moreover, higher disposable income and urbanization in emerging countries are some other factors anticipated to propel the global market growth over the forecast period. However, the high cost of smart luggage is a major factor expected to hamper growth of the global market. In addition, lack of awareness regarding smart luggage and its limited availability of these bags are some additional factors projected to challenge growth of the global market to a certain extent.

Global Smart Luggage Market: Segmental Analysis

Among the application segments, the real-time tracking segment is projected to register substantial growth, owing to increasing incidents of luggage misplacement by airlines. In addition, increasing popularity of Smart GPS luggage trackers with advent technologies is a factor expected to support the growth of the target market.

Global Smart Luggage Market: Regional Analysis

The market in North America is expected to dominate the smart luggage market and continue its dominance over the forecast period. This can be attributed to the quick adoption of technologically advanced products and a strong presence of manufacturing companies such as ANN SACKS Tile & Stone, In., and many others in countries in the region.  Smart luggage market in Asia Pacific is expected to register significant growth, owing to growing urbanization. In addition, improved standard of living, increased spending capacity, etc. are some other factors anticipated to fuel growth of the target market. Increasing inter-continental traveling coupled with a fair price of flight tickets is a factor expected to propel the target market growth. Furthermore, the rapidly growing travel and tourism industry in developing countries such as India and China is a factor expected to support the revenue growth of the target market. For instance, according to the document published by China National Tourism Administration (CNTA), China is becoming one of the most essential outbound tourism markets across the globe. In addition, Chinese outbound travelers were around 120 million in 2015, which was an increase of nearly 5 Mn travelers as compared to the previous year.

Global Smart Luggage Market Segmentation:

Segmentation by Technology:

Connectivity
Wi-Fi
Bluetooth
GPS
RFID
SIM Cards
Sensors
USB Charging

Segmentation by Application:

Digital Scaling
Remote Locking
Texting Alerts
Real-time Tracking
Proximity Sensors

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