Smart Bags Market
Smart Bags Market By Material Type (Ballistic Nylon, Canvas, Leather, Polycarbonate, PVC), By Types (Duffle Smart Bags, Trolley Smart Bags, Backpacks), By Distribution Channel, By weight & By Region - Global Market insights 2022-2032
Analysis of Smart Bags market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Smart Bags Market Outlook (2022-2032)
A smart bag is an application-specific design that can be useful for almost everyone in society. Smart bags are intelligent enough to carry out various features such as USB charging ports, a built-in weighing scale, a TSA-approved lock, and an anti-theft feature. It has the ability to transmit its location via GPS and cell phones.
The solar panels attached to the front of the smart bags not only charge the power banks but also power the whole GPS and Bluetooth system. Some smart bags come with RF-ID technology that stores data about the required items. It has an emergency button, which when pressed sent text to three emergency numbers and will solve the problem in any threatening situation.
With technological advancement, the smart bag market witnessed rapid growth, as they are increasingly becoming fashion accessories with innovative designs. Smart bags are preferred over conventional bags because of their easy-to-use design and wide applications. With the increasing number of consumers preferring state-of-the-art products, manufacturers of smart bags are being forced to realign their strategies to remain in sync with the increasing global demand.
The global Smart bags market is estimated at USD 1136.14 Million in the year 2022. The market is further expected to grow at a CAGR of 10.53 % in the forecast period. The global smart bags market is likely to surpass a valuation of USD 3091.96 Million by end of the forecast period i.e in 2032. The assessment period of this report is 2022-2032.
Report Attributes |
Details |
|---|---|
|
Market size (2022 A) |
USD 1136.14 Million |
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Base Year for Estimation |
2022 |
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Forecast duration for this research |
2022-2032 |
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Forecasted Market value (2032 F) |
USD 3091.96 Million |
|
Global Market Growth rate (2022-2032 E) |
CAGR of 10.53% |
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Key Companies Profiled |
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What are the drivers of growth in the Smart Bags market?
Increasing airline travel and tourism, innovations in product design and quality, and demand for IoT (Internet of things)-based applications are the significant key drivers for the global smart bags market. With the increasing consumer focus on luggage security, the demand for smart bags is also growing. The emergency button feature in smart bags will help female consumers and aid in the expansion of the global smart bags market.
The prominent driver for the growth of the smart bags market is the ease of availability of a product. Consumers are more willing to purchase smart bags from branded outlets where a variety of brands are available. Availability of products on e-commerce websites and also at retail stores aids in the expansion of the smart bags market. The third-party online channels provide worldwide home delivery of the product which increases the sales of the product.
Several airlines including Delta Air Lines, Southwest Airlines, American Airlines, Alaska Airlines, Qantas, Air Canada, and British Airways have banned the use of smart bags in flight as they contain Lithium-ion batteries, which increases the risk of battery fires. This is an important factor hindering the growth of sales for the smart bags market.
Restraints faced by the Smart bags market?
The high prices of smart luggage may limit the growth and penetration of these products. The market may not accommodate the lower income class customers. A temporary decline in sales has been seen during the pandemic period owing to lockdowns and restrictions due to the Covid-19 pandemic.
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Which region dominates in the smart bags segment?
“North America region reigns in smart bags market”
The North American smart bags market witnessed rapid growth as smart bags are increasingly becoming a fashion accessory with innovative designs, trendy color combinations, textures, and clean contoured lines. The Asia-Pacific smart bags market is expected to grow at a rapid pace as countries, including China and Japan have technological advancement, whereas CIS and Russia and MEA regions have limited growth in the global smart bags market.
“Asia Pacific led by India, China, and Japan to gain market share due to rise in the tourism sector”
There is the possibility of the fastest growth in the Asia Pacific region for the smart bags market which is attributed to rising government support and initiatives for fostering tourism in countries like India, and Malaysia. This rise gives a boost to demand smart luggage. The rising consumer spending on traveling and tourism in countries like China, Japan, and India is anticipated to increase the market share of smart bags in the forecast duration.
Segment wise analysis
The smart luggage market is segmented into types and distribution channels and materials. Based on the product type the market is segregated into duffel bags which are expected to hold the majority of the share in the market owing to the lightweight nature of bags. People give maximum preference to the shelf size of smart bags owing to their better resistance to any external pressures.
On the basis of connectivity, smart luggage is featured GPS, RFID, and Bluetooth. RFID scanning is widely preferred for security purposes at airports. The Smart bags having RFID features are anticipated to hold a major share in the forecast period. As these bags allow users to perform hassle-free check-ins and check-outs from airports.
Based on the weight criteria the smart bags can be categorized into soft and hard. The hard segment is likely to dominate in market share as they are resistive and more durable. Additionally, the preference for hard bags is due to the incorporation of security features in the bags when compared with soft luggage.
Based on the materials used for making of smart bags, the Nylon segment is reigning due to its high water soaking ability. Besides the high soaking features of nylon, this material has high durability. Owing to these qualities nylon luggage tends to notice high demand from consumers.
On the basis of distribution channels, offline sales are dominant in the smart bags market. The specialty stores are anticipated to get maximum revenue in the forecast period owing to large availability under the same roof. The experts in stores may assist customers for choosing the right smart bags as per their expectations and needs. However, the rising self-driven customer group is expected to increase sales of online channels in the anticipated forecast duration.
Competitive landscape
The competition is very high as the online channels provide the product at a highly discounted price. This competitive environment also leads retailers and suppliers to cut the prices of their products to retain their market position, which can also negatively affect the profit margin of the manufacturers. Smart bags have high sales in the developed market, with the presence of third-party online channels.
Owing to the rise in penetration of technology such as Bluetooth and IoT has increased connectivity. The features of GPS tracking and smartphones are widely applied in smart luggage. In 2020, Samsora announced a partnership with Monogoto to allow customers to connect with their smart bag with the facility of WIFI hotspot feature. The growing leisure activities are largely supportive of future demand in the smart bags segment.
Smart Bags Market - Key Segments
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By Material Type :
- Ballistic Nylon
- Canvas
- Leather
- Polycarbonate
- PVC
- Tegris
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By Types :
- Duffle smart bags
- Trolley smart bags
- Backpacks
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By Distribution Channel :
- Supermarkets/Hypermarkets
- Brand Outlets
- Factory Outlets
- Online Stores
- Others
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By region
- North America
- U.S.
- Canada
- Latin America
- Mexico
- Brazil
- Western Europe
- Germany
- Italy
- France
- U.K
- Spain
- Eastern Europe
- Poland
- Russia
- Asia Pacific
- China
- India
- ASEAN
- Australia
- New Zealand
- Japan
- Middle East and Africa
- GCC
- S. Africa
- N. Africa
- North America
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material Type 6.2. Types 6.3. Distribution Channel 7. Global Market Analysis and Forecast, By Material Type 7.1. Ballistic Nylon 7.2. Canvas 7.3. Leather 7.4. Polycarbonate 7.5. PVC 7.6. Tegris 8. Global Market Analysis and Forecast, By Types 8.1. Duffle Smart Bags 8.2. Trolley Smart Bags 8.3. Backpacks 9. Global Market Analysis and Forecast, By Distribution Channel 9.1. Supermarkets/Hypermarkets 9.2. Brand Outlets 9.3. Factory Outlets 9.4. Online Stores 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific 10.6. East Asia 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Region Sales Analysis and Forecast, by Key Segments and Countries 19. North America Sales Analysis and Forecast, by Key Segments and Countries 20. Latin America Sales Analysis and Forecast, by Key Segments and Countries 21. Sales Forecast by Material Type, Types, and Distribution Channel for 30 Countries 22. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 23. Company Profile 23.1. Xiaomi Bags 23.2. AWAY 23.3. barracuda 23.4. Fugu Luggage and Trunkster along with Delsey 23.5. Modobag 23.6. Planet Travvelers 23.7. Traxpack
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Material Type
Table 03: Global Market US$ Mn Forecast by Types
Table 04: Global Market US$ Mn Forecast by Distribution Channel
Table 05: North America Market US$ Mn Forecast by Country
Table 06: North America Market US$ Mn Forecast by Material Type
Table 07: North America Market US$ Mn Forecast by Types
Table 08: North America Market US$ Mn Forecast by Distribution Channel
Table 09: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Material Type
Table 11: Latin America Market US$ Mn Forecast by Types
Table 12: Latin America Market US$ Mn Forecast by Distribution Channel
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Material Type
Table 15: Western Europe Market US$ Mn Forecast by Types
Table 16: Western Europe Market US$ Mn Forecast by Distribution Channel
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Material Type
Table 19: Eastern Europe Market US$ Mn Forecast by Types
Table 20: Eastern Europe Market US$ Mn Forecast by Distribution Channel
Table 21: Asia Pacific Market US$ Mn Forecast by Country
Table 22: Asia Pacific Market US$ Mn Forecast by Material Type
Table 23: Asia Pacific Market US$ Mn Forecast by Types
Table 24: Asia Pacific Market US$ Mn Forecast by Distribution Channel
Table 25: East Asia Market US$ Mn Forecast by Country
Table 26: East Asia Market US$ Mn Forecast by Material Type
Table 27: East Asia Market US$ Mn Forecast by Types
Table 28: East Asia Market US$ Mn Forecast by Distribution Channel
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Material Type
Table 31: MEA Market US$ Mn Forecast by Types
Table 32: MEA Market US$ Mn Forecast by Distribution Channel
Table 33: Region Market US$ Mn Forecast by Country
Table 34: Region Market US$ Mn Forecast by Material Type
Table 35: Region Market US$ Mn Forecast by Types
Table 36: Region Market US$ Mn Forecast by Distribution Channel
Table 37: North America Market US$ Mn Forecast by Country
Table 38: North America Market US$ Mn Forecast by Material Type
Table 39: North America Market US$ Mn Forecast by Types
Table 40: North America Market US$ Mn Forecast by Distribution Channel
Table 41: Latin America Market US$ Mn Forecast by Country
Table 42: Latin America Market US$ Mn Forecast by Material Type
Table 43: Latin America Market US$ Mn Forecast by Types
Table 44: Latin America Market US$ Mn Forecast by Distribution Channel
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 22: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 23: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 24: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 33: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 34: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 35: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 36: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 37: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 38: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 39: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 40: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 41: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 42: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Types
Figure 43: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 44: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is current market outlook for smart bags?
The global Smart bags market is estimated at USD1136.14 Million in the year 2022.
What is the future market forecast associated with smart bags?
The global smart bags market is likely to surpass a valuation of USD 3091.96 Million by end of the forecast period i.e in 2032. The assessment period of this report is 2022-2032.
What is the growth rate projected for the smart bags market in the forecast period?
The market is further expected to grow at a CAGR of 10.53% in the forecast period.
Who are the key manufacturers in the smart luggage sector?
The key market players in smart bags manufacturing are- • Xiaomi Bags • AWAY • barracuda • Fugu Luggage and Trunkster along with Delsey • Modobag • Planet Travvelers
Which region dominates in smart bags market share?
North American region dominated in sales of smart bags.
Smart Bags Market