Smart Bag Market
Smart Bag Market Study by Duffle, Trolley, and Backpacks of Ballistic Nylon, Canvas, Leather, Polycarbonate, PVC, and Tegris Material From 2024 to 2034
Analysis of Smart Bag Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Smart Bag Market Outlook (2024 to 2034)
Revenue from the global smart bag market is estimated to reach US$ 3.97 billion in 2024 and achieve a value of US$ 10.58 billion by the end of 2034. This latest research study by skilled analysts at Fact.MR states that worldwide demand is projected to rise at a noteworthy CAGR of 10.4% from 2024 to 2034.
Demand for smart bags with convenience and security features, such as GPS tracking, USB charging, smart locks, and others is increasing at a double-digit growth rate due to rising international travel, both for business and enjoyment. These features are valued by travelers as they allow them to stay connected and protect their stuff while traveling.
Another key factor that is positively influencing sales growth is the incorporation of technologies, including RFID, Bluetooth, and the Internet of Things into smart bags. Sales are increasing because these features give consumers more convenience and protection, such as automated compartment organizing, real-time tracking, theft warnings, and others.
The North American region is projected to account for 31.4% of the worldwide market share in 2024 because of a high number of tech-savvy individuals. More people in the United States widely adopt products that are related to technology and these factors are also pushing sales of smart bags in North America. Other than this, strong e-Commerce infrastructure, particularly in the United States is further contributing to market expansion.
Based on material type, the revenue from ballistic nylon-based smart bags is analyzed to reach US$ 935.55 million in 2024. Sales of smart bags made from this material are high in comparison with others because of their exceptional durability, resilience to deterioration, and water-repellent qualities.
By product, the demand for smart backpacks is projected to reach a worth of US$ 5.73 billion by the end of 2034, up from 2.1 billion in 2024. Sales of smart backpacks are high in comparison with other products because of their adaptability and usefulness for several users, such as professionals, students, and tourists.
| Report Attribute | Detail |
|---|---|
| Smart Bag Market Size (2024E) | US$ 3.97 Billion |
| Forecasted Market Value (2034F) | US$ 10.58 Billion |
| Global Market Growth Rate (2024 to 2034) | 10.4% CAGR |
| North America Market Share (2024E) | 31.4 |
| East Asia Market Value (2024E) | US$ 1.11 Billion |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 15.1% CAGR |
| Trolley Smart Bags Segment Value (2034F) | US$ 2.45 Billion |
| Brand Outlets Segment Value (2034F) | US$ 2.82 Billion |
| Key Companies Profiled | Xiaomi Bags; AWAY; Barracuda; Fugu Luggage and Trunkster along with Delsey; Modobag; Planet Traveller; Traxpack; Travelpro; Rimowa; Mancini Leather Goods; Gossamer Gear |
A smart bag is an application-specific design that is 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 sends 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.
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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 several 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 limit the growth and penetration of these products. The market does not accommodate the lower income-class customers.
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, 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, including India, and Malaysia. This rise gives a boost to demand for smart luggage. The rising consumer spending on traveling and tourism in countries, such as China, Japan, and India is anticipated to increase the market share of smart bags in the forecast duration.
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Segment-Wise Analysis
The smart luggage market is segmented into types, 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.
Based on connectivity, smart luggage features GPS, RFID, and Bluetooth. RFID scanning is widely preferred for security purposes at airports. Smart bags having RFID features are anticipated to hold a major share in the forecast period. These bags allow users to perform hassle-free check-ins and check-outs from airports.
Based on the weight criteria smart bags are categorized into soft and hard. The hard segment is projected 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 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.
Based on 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 assist customers in 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 also negatively affects 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, WIFI hotspot feature. The growing leisure activities are largely supportive of future demand in the smart bags segment.
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Segmentation of Smart Bag Market Research
-
By Type :
- Duffle
- Trolley
- Backpacks
-
By Material Type :
- Ballistic Nylon
- Canvas
- Leather
- Polycarbonate
- PVC
- Tegris
-
By Distribution Channel :
- Supermarkets/Hypermarkets
- Brand Outlets
- Factory Outlets
- Online Stores
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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. Sales Forecast by Material Type, Types, and Distribution Channel for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Xiaomi Bags
- 20.2. AWAY
- 20.3. Barracuda
- 20.4. Fugu Luggage and Trunkster along with Delsey
- 20.5. Modobag
- 20.6. Planet Travellers
- 20.7. 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 the current market outlook for smart bags?
The global smart bags market is estimated at US$ 3.97 billion in the year 2024.
What is the future market forecast associated with smart bags?
The global smart bags market is analyzed to surpass a valuation of US$ 10.58 Billion by the end of the forecast period in 2034.
What is the growth rate projected for the smart bags market in the forecast period?
The market is further approximated to grow at a CAGR of 10.4% in the forecast period.
Who are the key manufacturers in the smart luggage sector?
Key players are Xiaomi Bags, AWAY, barracuda, Fugu Luggage and Trunkster along with Delsey, Modobag, and Planet Travelers.
Which region dominates in smart bags market share?
East Asian region dominated in sales of smart bags.
Smart Bag Market