Market Research Of Global Smart Luggage Market By Knowledge Sourcing Intelligence
INTRODUCTION
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 the commodity. Continuous advancements in the Internet of
Things (IoT) is expected to fuel the growth of this market, as more
advanced and improved technologies are being embedded into the bags and
suitcases which provide various benefits like easy tracking, remote control, and
smart sensing, thereby making travel more convenient.
Lack of
awareness among people regarding smart luggage solutions will restrain the
growth of the global smart luggage market. The producers just keep on modifying suitcases
in terms of materials and designs. But in modern times where everything is
becoming smart, the luggage has become smarter too. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
Sample view of global smart luggage market share
GLOBAL SMART LUGGAGE MARKET BY APPLICATION
By application,
the global smart luggage market is segmented as digital scaling, remote
locking, texting alerts, real-time tracking, and others. Amongst this real-time
tracking application is expected to grow at a high rate over the projected
period. This growth is majorly driven by higher instances of luggage misplacement
by the airlines. The growing travel and tourism industry is further
contributing to market growth, as there is an increase in the number of people
traveling by air. Remote locking application is also gaining popularity in the smart luggage market. The increasing adoption of smart technology owing to the increasing spending power of people is driving this segment’s growth over
the forecast period.
The below figure
provides the market share of the global smart luggage market
for various applications for the year 2016 and 2022:
Sample view of global smart luggage market share
REMOTE LOCKING
The remote
locking application is gaining popularity and is expected to grow at a
considerate rate over the projected period. In the remote locking technology
the bag is connected by Bluetooth of the user’s smartphone and via the app, the user
can lock and unlock it. Thus, the increase in the use of smartphones and penetrating
mobile internet contribute to market growth. According to the World Bank,
the number of internet users and mobile cellular subscription has been on a
persistent upward trajectory, cutting through markets across all regions,
developed or developing over the last two decades. In addition, the
increasing number of connected devices owing to the exponentially growing IoT
market further propels the segment growth. The connected devices are
estimated to reach 33.33 billion units by 2021, with an estimated market size
$1,254.25 billion (Source: Knowledge Sourcing Intelligence Analysis).
The competitive market is encouraging a player to come up with advanced products. For instance, many
companies are placing proximity sensors in smart luggage. This sensor
automatically locks the bag when they detect that the person using the bag has
walked away. Moreover, players are also proving check lock facilities
which notify the user if the suitcase has been opened by someone. Thus, the
many such innovations lead to the continuous new launch of smart luggage with an innovative remote locking feature which boosts segment growth.
Request Free Sample or Download the report:
For Information ICT Industry coverage:
Comments
Post a Comment