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This smart carry-on bags market report extensively covers market segmentation by technology (USB charging and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growth of the smart carry-on bags market is propelled by the enforcement of weight regulations on carry-on bags by airlines, although its progress is hindered by the high costs associated with smart carry-on bags. Furthermore, there is a notable upward trend in the advent of e-commerce.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Smart Carry-on Bags Market. One of the major companies in the market include:
Andiamo Luggage - The company offers smart carry-on bag products such as red ruby, royal sapphire, black onyx, and many more.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including: Airwheel Holding Ltd., Andiamo Luggage, Arlo Skye Inc., Chester Travels, DELSEY, E CASE, Genius Brands LLC, HEYS AMERICA ONLINE LTD., HS New Travel GmbH, JRSK Inc., Kenneth Cole Productions Inc., Modobag, Samsara Luggage, Samsonite International SA, The Carriall Co., The LVMH group, Travelers Club, Travelpro Products Inc., Victorinox AG, and XD Connects B.V.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Enforcement of weight regulations on carry-on bags by airlines is notably driving the market growth. The rising demand for lightweight carry-on travel bags accounts for weight regulations that are enforced by various airlines. With the introduction of the basic economy fare, most airlines are restricting heavyweight carry-on bags inside the aircraft. Most airlines restrict carry-on bags that are more than 12 inches tall or wide. With such restrictions and regulations being followed by multiple airlines, the use of smart carry-on bags with built-in scales that display the weight of the bag is expected to increase. Such carry-on bags help consumers to abide by the regulations that are set by airlines. Therefore, enforcement of weight regulations on carry-on bags by airlines will drive the growth of the smart carry-on bags market during the forecast period.
The advent of e-commerce is an emerging trend shaping market growth. With the advent of e-commerce, many customers are inclined toward online shopping. Companies that have a strong digital presence benefit from the increased demand for online shopping among customers. The companies of smart carry-on bags market cater to an international audience. In mature markets, e-commerce has already been established. On the contrary, the trend of e-commerce is less developed in emerging markets. The growing preference for online shopping is one of the major factors that are expected to drive the market. Furthermore, many online retailers offer discounts on smart carry-on bags, enabling customers to buy products at affordable prices. Therefore, the numerous benefits of e-commerce will contribute to the growth of the market during the forecast period.
High costs associated with smart carry-on bags are a significant challenge hindering market growth. Smart carry-on bags that are launched in the global market are incorporated with the most advanced technologies to facilitate frequent connectivity. Although they possess advanced features and technologies, they are not reasonably priced as smart carry-on bags cater to the premium customer segment. Thus, most of the population cannot afford smart carry-on bags. The affordability of such bags, therefore, is low. The high price associated with smart carry-on bags makes it difficult for consumers to purchase, thereby challenging the growth of the market during the forecast period.
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The USB charging segment is estimated to witness significant growth during the forecast period. USB charging smart carry-on bags come with a USB port that can charge the phone by keeping the power bank inside. USB smart carry-on bags can also be used to charge other electronic devices. USB charging is a key feature integrated into smart carry-on bags. The USB charging segment was the largest and was valued at USD 443.12 million in 2018. Some of the major brands of smart carry-on bags that are incorporated with the USB feature are Incase Designs Corp. (Incase) by Incipio LLC (Incipio), Samsara Luggage (Samsara), and Genius Brands LLC (Genius Brands). These factors will drive the growth of the USB charging segment of the smart carry-on bags market during the forecast period.
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Based on the distribution channel, the market has been segmented into offline and online. The offline?segment will account for the largest share of this segment.?
North America is estimated to contribute 38% during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America experiences high adoption of smart carry-on bags compared to other regions. Increased research and development (R&D) funding is expected to boost the growth of smart carry-on bags in North America. The rise in smartphone penetration, increase in mobile subscriptions, and growing Internet penetration are the key factors that drive the demand for smart carry-on bags in North America.
Moreover, the growing awareness of the benefits of using smart automation technologies has resulted in an increased preference for smart carry-on bags in the region. Improved network infrastructure has translated into high broadband and Internet penetration in the region. This implies an increased preference for wireless and technologically advanced products. The high penetration of smartphones and the Internet in the region will drive market growth during the forecast period.
Smart Carry-on Bags Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.85% |
Market Growth 2024-2028 |
USD 340.82 million |
Market structure |
Fragmented |
YoY growth (%) |
6.29 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Airwheel Holding Ltd., Andiamo Luggage, Arlo Skye Inc., Chester Travels, DELSEY, E CASE, Genius Brands LLC, HEYS AMERICA ONLINE LTD., HS New Travel GmbH, JRSK Inc., Kenneth Cole Productions Inc., Modobag, Samsara Luggage, Samsonite International SA, The Carriall Co., The LVMH group, Travelers Club, Travelpro Products Inc., Victorinox AG, and XD Connects B.V. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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