The global smart luggage market is evaluated at US$1.102 billion for the year 2019 and is projected to grow at a CAGR of 21.08% to reach the market size of US$4.203 billion by the year 2026.
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. The suitcases with technology integrated within it are called smart luggage. Smart luggage is equipped with an inbuilt scale for weighing purposes, GPS for tracking purposes, inbuilt charger for various kinds of apps or applications. The smart luggage is also furnished with batteries that are situated under a customizable handle that can charge electronic equipment through a USB cable.
Key market drivers.
The global market for smart luggage is largely driven by increasing global tourism coupled with the growing trend of integrating luggage with technology. Moreover, factors like internet penetration, growing demand for IoT-based applications, and increasing international travel coupled with modernizing consumer lifestyle further contribute to the market growth significantly. In addition, the ongoing technological advancement and product innovation lead to attractive design and features which, in turn, are expected to drive the global smart luggage market growth over the forecasted period.
Impact of COVID-19 on the Smart Luggage Market
The advent of COVID-19 had a negative impact on the smart luggage market during the year 2020.
The increasing tourism industry is expected to fuel the market during the forecast period.
The tourism industry has increased significantly over the years given the rise in disposable incomes and transportation networks. Moreover, this has also encouraged the demand for smart luggage in order to make travel safer and more secure.
|Market size value in 2019||US$1.102 billion|
|Market size value in 2026||US$4.203 billion|
|Growth Rate||CAGR of 21.08% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Technology, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Away, Barracuda, Bluesmart, Delsey, Lugloc, Trunkster, Samsonite, Samsara, Rimowa, Reden|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the smart luggage market size by 2026?
A1. The smart luggage market is projected to reach a total market size of US$4.203 billion in 2026.
Q2. What are the growth prospects for the smart luggage market?
A2. The global smart luggage market is projected to grow at a CAGR of 21.08% during the forecast period.
Q3. What is the size of global smart luggage market?
A3. Smart Luggage Market was valued at US$1.102 billion in 2019.
Q4. How is the smart luggage market segmented?
A4. The global smart luggage market has been segmented by technology, application, and geography.
Q5. What factors are anticipated to drive the smart luggage market growth?
A5. The global smart luggage market is largely driven by increasing global tourism coupled with the growing trend of integrating luggage with technology.
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