Smart Luggage Market Will Revolutionize the Way of Modernistic Travelling

The global smart luggage market was valued at US$0.745 billion in the year 2017 and is expected to grow at a CAGR of 21.62% to reach a total market size of US$1.983 billion by 2022.

There has not been much advancement in the suitcase type of commodity. The producers just keep on modifying suitcases in terms of materials and designs.

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But in modern times where everything is becoming smart, the luggage has become smarter too. The suitcases with technology integrated within it are called smart luggage. Smart luggage are equipped with inbuilt scale for weighing purposes, GPS for tracking purposes, inbuilt charger along with various kinds of apps or applications. The smart luggage is also furnished with batteries that are situated under a customizable handle which can charge electronic equipments through USB cable.

Market Outlook

The global market for smart luggage is largely driven by increasing global tourism coupled with growing trend of integrating luggage with technology. Moreover, factors like internet penetration, growing demand for IoT based applications, and increasing international travel coupled with modernizing consumer lifestyle further contribute to the market growth significantly. In addition, the ongoing technological advancement and product innovation leads to attractive design and features which, in turn, is expected to drive the global smart luggage market growth over the forecasted period. However, high initial investment and minimal awareness about the product among the consumers can restrain the market growth.

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Geographic Outlook

Geographically, North America region is expected to drive the global market for smart luggage owing to the technological enhancements and early adoption. Moreover, increasing government initiatives to develop smart cities and increasing industrialization are some prime factors which would drive the market growth.

Research Methodology

Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.

Market Dynamics

Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Smart Luggage. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.

Segmentation

Thirdly, Smart Luggage Market has been segmented on the basis of technology, application and geography as follows:

By Technology

SIM Cards
Sensors
Connectivity
USB Charging
Others
By Application

Digital Scaling
Remote Locking
Texting Alerts
Real-time Tracking
Others
 By Geography 

Americas
North America
South America
Europe Middle East and Africa
Europe
Middle East and Africa
Asia Pacific
 Market Players

Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Blue Smart, Away, Trunkster, Samsonite IP Holdings, Delsey, Lugloc, and Raden.

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