Smart Luggage 2017 Global Market to Reach $2,353.2 million and Growing at a CAGR of 26.4% by 2022

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Smart Luggage Market – Global Drivers, Opportunities, Trends, and Forecasts to 2022

The luggage industry is witnessing innovation driven by the addition of tracking system, automated locking, and Bluetooth features creating a niche smart luggage market. Owing to this, several luggage companies and crowd-funded start-ups are adding tech features to the luggage products to address the stagnant innovation. The term “smart luggage” is widely used for bags and suitcases with various tech-savvy features such as Wi-Fi hotspots, SIM cards, GPS, Bluetooth, RFID, built-in batteries, and digital scaling. The aim is not to just add features to the luggage, but to make it user-friendly in practical applications. These benefits are driving luggage companies to incorporate technology features into their offerings to stay in the ever-changing business world. The major luggage companies such as Bluesmart, Samsonite, and Delsey are investing in the incorporation of technology into their products and offer enhanced tech-savvy features to the customers.

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Market Analysis:

According to Infoholic Research, the “Smart Luggage” market is expected to reach $2,353.2 million by 2022, growing at a CAGR of around 26.4%. Increasing airline travel & tourism, innovations in product design & quality, demand for IoT-based applications, and consumer shift towards leisure lifestyle are forcing organizations to focus on embedding the technology features into their traditional luggage. The increasing international travel and internet penetration are some of the major drivers for introducing technology applications in the luggage industry.

Technology Analysis:

Technology is the major boosting factor for smart luggage market. The major technology providers have joined hands with luggage manufacturers to offer innovative solutions, which enable the customers to enjoy the journey with maximum comfort such as luggage tracking, USB charging, digital scaling, and remote locking. New players are entering the market and key luggage companies are trying to acquire them to gain their technical knowledge for the betterment of their product portfolio. The technology market is further segmented into connectivity, sensors, SIM cards, USB charging, and others. In 2016, connectivity technology had a major share of the market and is expected to reach $898.0 million by 2022, growing at a CAGR of 26.7% during the forecast period 2016–2022.

Regional Analysis:

At present, the Americas is having the majority of the market share mainly due to the advancements in technology and its adoption. The market is witnessing prominent growth in the countries such as the US and Canada. Americas is followed by Asia Pacific. Regional government initiatives for developing smart city projects and increasing FDI for industrialization enhancement in the region are the main factors contributing to the market growth. Europe is spending hugely in the manufacturing industry, especially on raw materials and their use. The RoW region is expected to have a positive growth in the market, which will offer huge opportunities for key players to provide innovative solutions in the region.

Key Players:

The key players covered in the report are Samsonite, Delsey, Bluesmart, Raden, Away, Trunkster, and Lugloc.
Competitive Analysis:

The study covers and analyzes the “Smart Luggage” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

Benefits:

The report provides an in-depth analysis of the smart luggage market aiming to avoid luggage mishandling, reduce baggage check-in time for travelers & authorities in airports, and provide information for travelers regarding the journey. The report talks about distribution channel, technology, applications, and regions. With the information offered, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and PPP’s interest towards the adoption of technology into luggage industry. Further, the report provides details about the major challenges going to impact the market growth.

Key Stakeholders:

Device manufacturers, network providers, software providers, data security solution vendors, policy makers, standard development organizations, investor community, university researchers, blog writers, and technology magazines.

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Table Of Contents – Major Key Points

1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
1.3 Pest Analysis

2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions

3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
3.3.1 mHealth Market
3.3.2 Cognitive Analytics

4 Market Outlook
4.1 Overview
4.2 Market Trends
4.3 Market Definition
4.4 Porter 5 (Five) Forces

5 Market Characteristics
5.1 AI in Healthcare: Advantages and Disadvantages
5.2 AI Applications in Healthcare
5.2.1 Mining Medical Records
5.2.2 Designing Treatment Plans
5.2.3 Assisting Repetitive Jobs
5.2.4 Diagnosis Automation
5.2.5 Medication Management
5.2.6 Drug Creation
5.3 AI in healthcare: Extent of Investments
5.4 Market Segmentation
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Cost-effective
5.5.1.2 Advancement in supplement technologies
5.5.1.3 Increasing spectrum of applications
5.5.1.4 Aging population and rising chronic diseases
5.5.2 Restraints
5.5.2.1 Security concerns
5.5.2.2 Hindrances in adoption of technology
5.5.2.3 Lack of regulations in AI
5.5.3 Opportunities
5.5.3.1 Increasing investment in AI
5.5.3.2 Precision medicine
5.5.3.3 Increasing demand for remote healthcare services
5.5.4 DRO – Impact Analysis

6 Technology
6.1 Overview
6.2 Natural Language Processing
6.2.1 Market Size and Analysis
6.3 Machine Learning
6.3.1 Market Size and Analysis
6.4 Biometric Security
6.4.1 Market Size and Analysis
6.5 Speech Recognition
6.5.1 Market Size and Analysis
6.6 Disaster Recovery
6.6.1 Market Size and Analysis
6.7 Others
6.7.1 Market Size and Analysis

Continued…….

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Release ID: 199070