Global Smart Luggage Market Overview
The key driver impacting the smart luggage market is the rapidly rising tourist traffic leads to a rapidly growing tourism industry. The United Nations World Tourism Organization (UNWTO) report estimations reveal that internationally there were just 25 million tourist arrivals in 1950. But after 68 years, this number has augmented to 1.4 billion international arrivals per year. This is a 56-fold rise. International tourist arrivals of about 1.5 billion were recorded in 2019 worldwide. A 4% increase than the previous year, that is, 2019. The rising tourism industry is likely to create massive demand for smart luggage as consumers shift towards leisure and travel abroad during their holidays. Also, consumers like to add style-quotient, so they look for smart and trendy luggage matching with style and personality. Moreover, the rise in the adoption of stylish luggage and manufacturers' high focus to provide tech-savvy baggage contributes to the smart luggage market growth in the coming years.
According to Value Market Research, the global smart luggage market size was valued at around USD 2.19 million in 2022, and it is estimated to grow at a CAGR of about 17% during the forecast period 2023 to 2030.
The growing usage of the internet of things and the presence of technologically advanced additional features in smart luggage are estimated to augment smart luggage in the forecast period. Technological advancements such as Bluetooth charging, location & proximity alerts, Bluetooth charging, GPS and electronic locks, tracking system, automated locking, and connectivity with smartphones have transformed the usual baggage into an intelligent subsystem that can be connected to smartphones. For instance, the Bluesmart baggage range consists of a digital handle. It is a digital scale to calculate the weight of the bag. The digital lock protects the case which gets activated when it is passing away from the phone. The rise in international air travel is likely to create massive adoption for the smart luggage market in the coming years. However, lack of awareness and knowledge of the products may hamper the market in the long run. Also, data privacy concerns and the high cost of products negatively impact the market. The current industry trends, such as the increasing digital scaling in the smart baggage systems, and the use of sim cards to access the internet, are expected to offer new lucrative market opportunities for the key players.
The smart luggage market is vast, with many local and global players. The smart luggage market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Bluesmart, Delsey, Samsonite, Reden, Away, Trunkster, Barracuda, and Lugloc.
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In this research report, the smart luggage market is segmented by technology, application, and region.
Analysis by Technology:
By technology, the report is categorized into connectivity, SIM card, USB charging. The connectivity segment dominates the service type segment with over 55% share in 2020. It is sub-segmented into Wi-Fi, GPS, RFID, and Bluetooth. The RFID segment is showing considerable growth due to the existing infrastructure of RFID scanning in the airports. Also, the rising penetration of IoT devices and comparatively low costs & maintenance needs of the sensors used in the smart luggage is adding to the segment. Moreover, an abundance of sensor-based smart baggage products contributes to the massive demand for the smart connectivity technology segment in the forecast period.
Analysis by Application:
By application, the report is categorized in real-time tracking, proximity sensors, remote locking, digital scaling, and others. The remote locking segment dominates the application segment with over 25% share in 2020. It is due to the increasing instances of loss of luggage by the airlines. Moreover, luggage theft and security breaches have encouraged customers to buy smart luggage equipped with remote locking and proximity alerting capabilities and escort interpretation, contributing to remote locking segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global smart luggage market, the North America region dominates globally with a 30% market share in the forecast period. It is due to the high adoption of technologically advanced products. Moreover, the lenient presence of manufacturing companies that focus on innovative product design in the region contributes to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Technology
- Connectivity (Wi-Fi, GPS, RFID, a Bluetooth)
- Sim Card
- USB Charging
By Application
- Real-Time Tracking
- Proximity Sensors
- Remote Locking
- Digital Scaling
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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