Smart Luggage Market by Technology and Geography - Forecast and Analysis 2022-2026
| Published: Oct 2022 | Pages: 118 | SKU: IRTNTR74527 |
The smart luggage market is projected to grow by USD 4.48 billion with a CAGR of 20.87% during the forecast period 2021 to 2026.
The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by technology (connectivity, USB charging, and sim card) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The market report also offers information on several market vendors, including ACE Co. Ltd., Airwheel Holding Ltd., Briggs & 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. among others.
What will the Smart Luggage Market Size be During the Forecast Period?
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Smart Luggage Market: Key Drivers, Trends, and Challenges
Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market. During the COVID-19 pandemic, the market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Smart Luggage Market Driver
Premiumization through product innovation is one of the key drivers fueling the market's growth. Various players in the market are developing innovative smart luggage products with features such as built-in scales, proximity servers, alarm systems, and water-resistant accessories. The prime advantage of a smart carry-on bag is that it ensures hassle-free travel. The bag also has a light-emitting diode (LED) light system that automatically switches on in dark or low-light conditions. Moreover, the suitcase comes with a detection system paired with an application that alerts the concerned person when the suitcase is being carried far away or when it is being opened out of range. All these factors are expected to fuel the growth of the market during the forecast period.
Key Smart Luggage Market Trend
Enforcement of the weight regulations on luggage by airline companies is one of the key market trends propelling the market growth. With the introduction of the basic economy fare, most commercial airlines are restricting heavyweight luggage inside the aircraft. Most airlines restrict luggage that is more than 12 inches tall or wide. Customers who wish to carry such luggage are required to pay a fee of $25-$35. Smart luggage with built-in scales helps consumers abide by the regulations that are set by airline companies. Some popular vendors offering smart luggage with built-in scales are JRSK Inc (Away), Horizn Studio GmbH, and Samsonite International SA. With such restrictions and regulations being followed by multiple airline operators, the use of smart luggage with built-in scales, which display the weight of the bag is expected to increase during the forecast period.
Key Smart Luggage Market Challenge
High costs associated with smart luggage are one of the factors limiting the market's growth. Smart luggage that is launched in the global market is incorporated with the most advanced technologies to facilitate continuous connectivity. Although it possesses advanced features and technologies, it is not reasonably priced as smart luggage caters to the premium customer segment. Thus, most of the population cannot afford smart luggage. Most of the smart luggage launched by leading vendors is priced at $200-$550. The affordability of such items, therefore, is low for most people. Thus, the high price of smart luggage makes it difficult for consumers to purchase, which is anticipated to hamper the growth of the market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global smart luggage market as a part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Who are the Major Smart Luggage Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- ACE Co. Ltd.
- Airwheel Holding Ltd.
- Briggs & 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
- VIP Industries Ltd.
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- samsaraluggage.com - The company offers smart suitcases that come in various patterns, designs, and colors.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Smart Luggage Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the smart luggage market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Smart Luggage Market?
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39% of the market’s growth will originate from North America during the forecast period. The US is the key market for smart luggage in North America. Market growth in this region will be slower than the growth of the market in South America.
Growing Internet penetration will facilitate the market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The COVID-19 pandemic slowed down manufacturing and transportation activities, along with other industrial activities, in the region. However, with the lifting of travel restrictions, there was a moderate demand for smart luggage from consumers in 2021 when compared with 2020. Therefore, these factors are anticipated to foster the growth of the regional market during the forecast period.
What are the Revenue-generating Technology Segments in the Smart Luggage Market?
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The market share growth in the connectivity segment will be significant during the forecast period. In 2021, the connectivity segment was the largest technology segment of the global market. The integration of smart devices, including global positioning systems (GPS), radio-frequency identification (RFID), and others, are driving the growth of the connectivity segment of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Smart Luggage Market Scope |
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Report Coverage |
Details |
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Page number |
118 |
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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 |
$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, the 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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Key companies profiled |
ACE Co. Ltd., Airwheel Holding Ltd., Briggs & 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 recovery analysis 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. |
What are the Key Data Covered in this Smart Luggage Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the smart luggage industry across North America, Europe, APAC, the Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Technology
- 5.1 Market segments
- Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)
- 5.2 Comparison by Technology
- Exhibit 26: Chart on Comparison by Technology
- Exhibit 27: Data Table on Comparison by Technology
- 5.3 Connectivity - Market size and forecast 2021-2026
- Exhibit 28: Chart on Connectivity - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Connectivity - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Connectivity - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Connectivity - Year-over-year growth 2021-2026 (%)
- 5.4 USB charging - Market size and forecast 2021-2026
- Exhibit 32: Chart on USB charging - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on USB charging - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on USB charging - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on USB charging - Year-over-year growth 2021-2026 (%)
- 5.5 Sim card - Market size and forecast 2021-2026
- Exhibit 36: Chart on Sim card - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Sim card - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Sim card - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Sim card - Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Technology
- Exhibit 40: Market opportunity by Technology ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 DELSEY
- Exhibit 93: DELSEY - Overview
- Exhibit 94: DELSEY - Product / Service
- Exhibit 95: DELSEY - Key offerings
- 10.4 HS New Travel GmbH
- Exhibit 96: HS New Travel GmbH - Overview
- Exhibit 97: HS New Travel GmbH - Product / Service
- Exhibit 98: HS New Travel GmbH - Key offerings
- 10.5 JRSK Inc.
- Exhibit 99: JRSK Inc. - Overview
- Exhibit 100: JRSK Inc. - Product / Service
- Exhibit 101: JRSK Inc. - Key offerings
- 10.6 Lugloc Inc.
- Exhibit 102: Lugloc Inc. - Overview
- Exhibit 103: Lugloc Inc. - Product / Service
- Exhibit 104: Lugloc Inc. - Key offerings
- 10.7 Modobag
- Exhibit 105: Modobag - Overview
- Exhibit 106: Modobag - Product / Service
- Exhibit 107: Modobag - Key offerings
- 10.8 Planet Traveler USA
- Exhibit 108: Planet Traveler USA - Overview
- Exhibit 109: Planet Traveler USA - Product / Service
- Exhibit 110: Planet Traveler USA - Key offerings
- 10.9 RIMOWA GmbH
- Exhibit 111: RIMOWA GmbH - Overview
- Exhibit 112: RIMOWA GmbH - Product / Service
- Exhibit 113: RIMOWA GmbH - Key offerings
- 10.10 Samsara Luggage
- Exhibit 114: Samsara Luggage - Overview
- Exhibit 115: Samsara Luggage - Product / Service
- Exhibit 116: Samsara Luggage - Key offerings
- 10.11 Samsonite International S.A.
- Exhibit 117: Samsonite International S.A. - Overview
- Exhibit 118: Samsonite International S.A. - Product / Service
- Exhibit 119: Samsonite International S.A. - Key offerings
- 10.12 VIP Industries Ltd.
- Exhibit 120: VIP Industries Ltd. - Overview
- Exhibit 121: VIP Industries Ltd. - Product / Service
- Exhibit 122: VIP Industries Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 123: Inclusions checklist
- Exhibit 124: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 125: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 126: Research methodology
- Exhibit 127: Validation techniques employed for market sizing
- Exhibit 128: Information sources
- 11.5 List of abbreviations
- Exhibit 129: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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smart luggage market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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