NEW YORK, Oct. 25, 2022 /PRNewswire/ -- The global smart luggage market size is expected to grow by USD 4.48 billion, accelerating at a CAGR of 20.87% between 2021 and 2026. To estimate the size of the market, Technavio has tracked the recent trends and developments in the apparel, accessories, and luxury goods market. The report also throws light on the pre- and post-impact of COVID-19 on businesses.
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Smart Luggage Market: Major Growth Drivers
The smart luggage market report the following factors as major growth drivers during the forecast period:
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Premiumization through product innovation
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Increasing consumer focus on luggage security
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Increasing number of product launches
In addition, the report identifies the enforcement of weight regulations on luggage by airlines as a major trend in the smart luggage market. The introduction of basic economic fare has forced most airlines to avoid heavy luggage inside the aircraft. Some are enforcing strict weight regulations for luggage. To capitalize on this trend, vendors in the market are offering smart luggage with built-in scales that help travelers comply with weight regulations set by various airline operators. This trend is expected to have a positive impact on the growth of the global smart luggage market during the forecast period.
Smart Luggage Market: Segmentation Analysis
Technavio segments the global smart luggage market by technology (connectivity, USB charging, and sim card) and geography (North America, Europe, APAC, the Middle East and Africa, and South America).
By technology, the market will observe significant growth in the connectivity segment. The inclusion of smart devices, including global positioning system (GPS), radio-frequency identification (RFID), Wi-Fi, and Bluetooth, into smart backpacks aided the prevailing tech-savvy population is driving the growth of the segment.
North America will have the largest share of the market. About 39% of the market growth will come from this region. The rise in smartphone penetration, aided by the increase in mobile subscriptions, growing Internet penetration, and increased investments toward research and development are driving the growth of the regional market. In addition, improved technological infrastructure and increased adoption of innovative and niche products among consumers are contributing to the growth of the smart luggage market in North America.
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Smart Luggage Market: Key Vendors
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DELSEY: The company offers smart luggage called suitcases, travel bags, duffle bag, and tote beauty bags which comes in various sizes, shapes, and colors.
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HS New Travel GmbH: The company offers smart luggage which is animal friendly, lightweight, durable, and comes in various colors and shapes.
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Lugloc Inc.: The company offers smart luggage tracker which complies with the most rigorous flight regulations, including FAA, FCC, and TSA with a long-lasting 15 days battery.
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Modobag: The company offers smart luggage suitcase bags which can be used as a ride or a bag.
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Planet Traveler USA: The company offers smart zipper and lightweight luggage such as frame suitcases, all aluminum luggage carry bags, and expandable hardside check bags.
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ACE Co. Ltd.
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Airwheel Holding Ltd.
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Briggs & Riley Travelware LLC
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GOYARD SINGAPORE PTE. LTD.
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JRSK Inc.
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Reasons to Buy Smart Luggage Market Report:
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CAGR of the market during the forecast period 2021-2025
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Detailed information on factors that will assist smart luggage market growth during the next five years
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Estimation of the smart luggage market size and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the smart luggage market across North America, Europe, APAC, Middle East and Africa, and South America
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Analysis of the market's competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of smart luggage market vendors
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Smart Luggage Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20.87% |
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Market growth 2022-2026 |
USD 4.48 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
20.65 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
ACE Co. Ltd., Airwheel Holding Ltd., Briggs and Riley Travelware LLC, DELSEY, GOYARD SINGAPORE PTE. LTD., HS New Travel GmbH, JRSK Inc., Lugloc Inc., Modobag, Planet Traveler USA, RIMOWA GmbH, Samsara Luggage, Samsonite International S.A., Travelpro Products Inc., VF Corp., Victorinox AG, and VIP Industries Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.3 Market size 2021
4 Five Forces Analysis
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4.1 Five forces summary
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4.6 Threat of rivalry
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4.7 Market condition
5 Market Segmentation by Technology
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5.1 Market segments
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
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8.1 Market drivers
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8.2 Market challenges
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8.4 Market trends
9 Vendor Landscape
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9.1 Overview
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9.2 Vendor landscape
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9.3 Landscape disruption
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9.4 Industry risks
10 Vendor Analysis
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10.1 Vendors covered
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10.3 DELSEY
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10.4 HS New Travel GmbH
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10.5 JRSK Inc.
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10.6 Lugloc Inc.
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10.7 Modobag
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10.8 Planet Traveler USA
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10.9 RIMOWA GmbH
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10.10 Samsara Luggage
11 Appendix
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11.1 Scope of the report
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
"luggage" - Google News
October 25, 2022 at 08:30PM
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Smart Luggage Market to record USD 4.48 Bn incremental growth; Enforcement of the weight regulations on luggage by airline companies to be a major trend -- Technavio - Yahoo Finance
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