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Smart Luggage Market size to register extensive growth from connectivity technology segment up to 2024

Author : Ronak Bora | Published Date : 2019-05-23 

Smart Luggage Market size in connectivity technology segment is set to witness significant growth to 2024 due to the demand from the customers to access the luggage with convenience. It also enables the users to get insights on the gates, currency exchange and flight schedules. This connected smart luggage are designed such that to shut down when it is onboard and automatically switch on while landing to meet the regulations of the government regarding the usage of wireless technologies.

Steady growth in the tourism industry and increased frequency of international travel is expected to provide workable growth opportunities to the smart luggage market. However, increased concerns over security and safety is expected to be a major restraining factor, over the forecast timespan.

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Smart Luggage Market in digital scaling application segment will have the highest growth during the forecast period due to the escalating demand from the consumer side to analyze the total weight of the bag prior to the journey. This enables the travelers to avoid the hassles associated with the travel and also eliminates the risks associated with over packing.

Smart luggage technologies are deployed to implement digital scaling, real-time tracking, remote locking systems, and proximity sensing devices. Real-time tracking technology, for instance, is heavily utilized in airports in cases of baggage loss. Luggage thefts and security violations have changed traveler preferences rapidly, enabling them to invest in smart luggage equipped with remote locking systems & proximity sensing devices. Furthermore, manufacturers have been focusing on preventing any kind of inconvenience to the traveler due to overweight baggage, which has resulted in the production of digital scaling systems. The development of unique smart technologies to be incorporated in suitcases and bags is thus certain to augment smart luggage market size.

Smart luggage market, despite being far away from the intended destination is gearing up rapidly on a global scale. Tech giants are diversifying their product portfolio to grab maximum opportunities of the thriving business space. The recent launch of X-series of iFLY Luggage by Calego International Inc., which is reported to be a unique amalgamation of optimum quality, functionality, and elegance, has claimed to redefine luggage for smart business travelers. Some of the other leading names in smart luggage industry include Delsey, Samsonite, Bluesmart, Away, Trunkster, Reden, Lugloc and Barracuda.

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North America, being one of the hubs of smart technology, is a profitable growth avenue for smart luggage market. The large-scale deployment of connected baggage has prompted companies to brainstorm and develop innovative products, which would considerably impel North America smart luggage industry. In fact, estimates claim North America to account for a rather huge share in smart luggage industry.

The Asia Pacific smart luggage market size is expected to witness high growth owing to the rising urbanization and increase in the air traffic levels specifically in countries such as Malaysia and Singapore. Many organizations are heavily investing in the technology as it enables them to offer better customer experiences and monitor the process based on different insights. Furthermore, a rising demand for sophisticated and varied luggage products, numerous trendy and intelligent suitcase categories have escalated the demand for these products.

The industry is characterized by a fiercely competitive landscape with leading companies consistently investing in product innovations and developments. In this regard, Bluesmart’s contribution in changing smart luggage industry trends is worth noticing. The new ‘series 2’ line of smart luggage is reported to be absolutely slick in design equipped with remote locks and GPS navigation. With the increasing appetite for technology in product design, the commercialization matrix of smart luggage market is sure to escalate in the coming years. Global market Insights Inc., estimates the overall industry share to exceed USD 2 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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