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Smart luggage is the new generation luggage product that consists of basic features of the bag along with some advanced features which provide ease to the consumers towards their usage. Battery operated luggage is widely popular among the people as they can charge their smartphones from the USB ports of such bags. Additionally, changing consumer preferences towards bags of different colors and texture is largely providing growth opportunities to the players.
Prominent companies largely prefer to develop smart luggage bags in different categories such as business travel, tour travel, trekking & hiking, etc. to meet the overall consumer demand for such products. Luggage with a digital locking system including pattern, pin & password lock as well as remote locking feature is commonly used by the people to avoid the threat of material loss from the bag.
The introduction of the technology features such as IoT & Bluetooth connectivity to the smartphones, GPS tracking, etc. in the design of such products has skyrocketed the consumer demand for such smart luggage. For instance, In January 2020, Samsora Luggage Inc., partnered with Monogoto, a technology services provider company to enable Samsora’s customers to stay connected with their smart luggage with the help of a WIFI hotspot feature that is embedded in the design of the luggage. Additionally, the growing leisure activities of the global population are largely supporting long term demand for such products.
Moreover, rising infrastructural development related to the tourism spots is likely to drive the revenues from the smart luggage. Besides this, increasing consumer’s online shopping activities for the luggage products is fuelling the long term growth of the market. According to the survey conducted by the Consumer Reports Organisation, in 2019, 27% of the respondents out of 17,000 people surveyed, turned into online shopping of the luggage who used to shop luggage at the nearby physical stores.
However, the higher cost of smart luggage is anticipated to limit the growth of the market among the lower income group of the population. Additionally, uncertain lockdown restriction due to the COVID-19 outbreak has temporarily halted the travel luggage revenues from the physical retail stores.
Key Market Driver -
Technology innovations in the design of the luggage is expected to drive the market growth.
Key Market Restraint -
The higher cost of smart luggage is anticipated to restrain market growth
The key players associated with the global smart luggage market are, JRSK Inc., Samsonite IP Holdings S.AR.L., HORIZN STUDIOS, LugLoc Shop, KABUTO, Tripp Ltd., Delsey S.A., Tumi Inc., RIMOVA, Arlo Skye, and many others.
The global smart luggage market is segmented based on product type, luggage connectivity, weight, material, distribution channels, and geography. By product type, the market is segmented into duffel bags, strollers, travel backpacks, and others. The duffel bags segment is expected to hold a major share of the market owing to the lightweight nature of such bags over other types. Additionally, people largely prefer to use such bags because of their enough shelf size as well as better resistance to the external pressure.
Based on luggage connectivity, the market is segmented into RFID, GPS, Bluetooth, and combination connectivity features. RFID scanning technology is largely preferred to use at airports for security purposes. Therefore, the RFID segment is projected to exhibit a significant share of the market as users can check-in & check-out from the airport in a hassle-free manner with the help of RFID-enabled smart luggage.
By weight, the market is segmented into, soft luggage and hard luggage. The hard luggage segment is expected to hold a major share of the global market as hard luggage is more durable & resistive to the external pressure. Additionally, people largely prefer to use such luggage bags as they are more likely to be enabled with security features compared to the soft type.
By the material, the market is segmented into nylon, leather, canvas, plastic, and others. The largest share of the nylon segment is attributed to the higher water soaking capability of the nylon material which avoids luggage content to get wet. Additionally, the higher durability & robustness of the ballistic nylon made luggage results in the large consumer demand for such type of product.
Based on the distribution channel, the market is segmented into specialty stores, online stores, brand stores, and others. The specialty stores segment is anticipated to exhibit a significant share of the market owing to the wide availability of the variety of branded travel luggage and backpacks in such stores. Additionally, people are more likely to shop luggage from such stores as trained sales personnel at these stores assist the customer in understanding the quality and features of the bags that make the specialty stores a preferred choice.
By geography, the global smart luggage market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The largest share of the North America region is attributed to the larger adoption of the technology-enabled products among the population in countries such as the United States, and Canada. Additionally, increasing the adoption of travel goods in the region is further driving the growth of the market. According to the data presented by the Travel Goods Association, in 2018, retail sales of the luggage reached to USD 88.36 million, a rise of 7.1% in 2018 over to the previous year.
The fastest growth of the Asia Pacific region for the global smart luggage market is attributed to the positive governmental support regarding tourism development in countries such as India, Thailand, Malaysia which give rise to the demand for smart travel luggage in the region. According to the report ‘India Unbound Tourism, Unlocking the Opportunity’, published by the Federation of Indian Chambers of Commerce and Industry, in 2018, the Government of India invested nearly USD 12.79 million to launch a scheme of Swadesh Darshan and PRASAD scheme for tourism development purposes in India.
Additionally, increasing consumer spending on travel trips in countries such as Japan, and China is likely to drive the demand for smart travel luggage in the region. According to the data presented by the China Tourism Academy, in 2018, outbound spending of the Chinese tourists reached to USD 130 billion, 13% up compared to that of 2017.
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