Consumer inclination to smart luggage is driving the growth in Global Smart Bags Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Smart Bags Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026, Segmented By Product Type (Bag packs, duffel bags, handbags, Laptop bags, others), By Technology (USB Charging, Connectivity, RFID Blocking Technology, Others), By Distribution channel (Specialty Store, Supermarket & Hypermarket, Apparel & Footwear Store, Online, Others), By Region”, the global smart bags market would potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of rapidly evolving methods of combining technology to the product to satisfy the consumer demands. Technological advancements like USB connectivity, GPS systems, RFID pockets, and solar panels are actively influencing the consumers and thus driving the growth of the global smart bags market in the upcoming five years. Moreover, steady growth in the travel and tourism by the consumers is also influencing the growth of the global smart bags market in the next five years. Demand for IoT (Internet of things)-based applications, increasing consumer focus on luggage security, along with availability of the product through various sales channel is actively supporting the growth of the global smart bags market in the future five years.
Smart bags are the technologically influenced travelling luggage commodity for consumers. It is often application-specific design that is intelligent enough to carry out various functions like USB charging, built-in weighing scales, TSA-approved lock and anti-theft features. Consumers are actively opting for such smart bags for their consumption during pleasure as well as business travels owing to the extended features of these smart bags like GPS enabled designs are able to transmit their location through smart phones and GPS systems. Latest innovations of adding solar panels on the smart bags helps in charging the power banks, powering the whole bluetooth and GPS systems. RFID technology incorporated in the smart bags stores data about the required items and has emergency services that sends alerts via text messages to three pre-registered emergency numbers in case of any threat or emergency situations.
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The global smart bags market is segmented by product type, technology, distribution channel, competitional landscape, and regional distribution. Based on technology, the market is further sub-segmented into USB charging, connectivity, RFID blocking technology, and others. Technological development is the base of global smart bag market growth. With innovations and advancement of the features the market is bound to experience a robust growth in the upcoming five years. Major technology giants in the world are in collaboration with the smart bag manufacturing companies and are thus offering innovative solutions through latest and trendy products and aiding the growth of the global smart bags market in the next five years. Collaborations of the new market entrants with the existent giants is influencing the market growth. The existent players are utilizing the technology knowledge from the new entrant and taking over them for their own product advancement thus brand establishment is further aiding the growth of the global smart bags market in the future five years. Connectivity technology is mostly preferred by the common consumers and thus generating the maximum revenue shares of the market and supporting the growth of the market during forecast period.
Barracuda, Inc., Samsonite IP Holdings S.A.R.L, Horizn Studios GmbH, TraxPack LLC, Modobag, Delsey S.A., Planet Traveler USA, Away Com INC, Néit Products Ltd, RIMOWA GmbH & Co Distribution KG, are some of the major shareholders of the global smart bags market. Market players are actively involved in the research and technological advancements in the product developments. The advanced technology has made it possible for the industry to provide excellent services through smart bags. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North American region potentially marks as the most promising regional market in the upcoming five years. Technological advancements, consistent research and dependency of the consumers over the technological advancement would preferably propel the growth of the global smart bags market. Asia Pacific region is expected to register significant growth in future five years due to increasing number of market players in the countries like India, China, Japan, and South Korea. Technological developments in these countries are also aiding the growth of the market in the region,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm. “Global Smart Bags Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026
Segmented By Product Type (Bag packs, duffel bags, handbags, Laptop bags, others), By Technology (USB Charging, Connectivity, RFID Blocking Technology, Others), By Distribution channel (Specialty Store, Supermarket & Hypermarket, Apparel & Footwear Store, Online, Others), By Region”, has evaluated the future growth potential of global smart bags and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart bags market.
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