Smart Bags Market To Grow With Smart Innovations During the Forecast Period
Consumer
inclination to smart luggage is driving the growth in Global Smart Bags Market
in the forecast period, 2022-2026.
According to TechSci Research
report, “Global Smart
Bags Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2016-2026, Segmented By Product
Type (Bag packs, duffel bags, handbags, Laptop bags, others), By Technology
(USB Charging, Connectivity, RFID Blocking Technology, Others), By Distribution
channel (Specialty Store, Supermarket & Hypermarket, Apparel & Footwear
Store, Online, Others), By Region”, the global smart bags market would potentially
project an impressive growth in the forecast period, 2022-2026, with an
impressive CAGR on the account of rapidly evolving methods of combining
technology to the product to satisfy the consumer demands. Technological
advancements like USB connectivity, GPS systems, RFID pockets, and solar panels
are actively influencing the consumers and thus driving the growth of the
global smart bags market in the upcoming five years. Moreover, steady growth in
the travel and tourism by the consumers is also influencing the growth of the
global smart bags market in the next five years. Demand for IoT (Internet of
things)-based applications, increasing consumer focus on luggage security,
along with availability of the product through various sales channel is
actively supporting the growth of the global smart bags market in the future
five years.
Smart bags are the
technologically influenced travelling luggage commodity for consumers. It is
often application-specific design that is intelligent enough to carry out
various functions like USB charging, built-in weighing scales, TSA-approved
lock and anti-theft features. Consumers are actively opting for such smart bags
for their consumption during pleasure as well as business travels owing to the
extended features of these smart bags like GPS enabled designs are able to
transmit their location through smart phones and GPS systems. Latest
innovations of adding solar panels on the smart bags helps in charging the
power banks, powering the whole bluetooth and GPS systems. RFID technology
incorporated in the smart bags stores data about the required items and has
emergency services that sends alerts via text messages to three pre-registered
emergency numbers in case of any threat or emergency situations.
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The global smart bags
market is segmented by product type, technology, distribution channel,
competitional landscape, and regional distribution. Based on technology, the
market is further sub-segmented into USB charging, connectivity, RFID blocking
technology, and others. Technological development is the base of global smart
bags market growth. With innovations and advancement of the features the market
is bound to experience a robust growth in the upcoming five years. Major
technology giants in the world are in collaboration with the smart bag
manufacturing companies and are thus offering innovative solutions through
latest and trendy products and aiding the growth of the global smart bags
market in the next five years. Collaborations of the new market entrants with
the existent giants is influencing the market growth. The existent players are utilizing
the technology knowledge from the new entrant and taking over them for their
own product advancement thus brand establishment is further aiding the growth
of the global smart bags market in the future five years. Connectivity
technology is mostly preferred by the common consumers and thus generating the
maximum revenue shares of the market and supporting the growth of the market
during forecast period.
Barracuda, Inc.,
Samsonite IP Holdings S.A.R.L, Horizn Studios GmbH, TraxPack LLC, Modobag,
Delsey S.A., Planet Traveler USA, Away Com INC, Néit Products Ltd, RIMOWA GmbH
& Co Distribution KG, are some of the major shareholders of the global
smart bags market. Market players are actively involved in the research and
technological advancements in the product developments. The advanced technology
has made it possible for the industry to provide excellent services through
smart bags. Further advancement would aid the market value and brand
establishment in the future five years. New market players may focus on the
research and development to provide options that satisfies the consumer demand
as well as benefits the market players in building their brand value. Other
competitive strategies include mergers & acquisitions and new product
developments.
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“North
American region potentially marks as the most promising regional market in the
upcoming five years. Technological advancements, consistent research and
dependency of the consumers over the technological advancement would preferably
propel the growth of the global smart bags market. Asia Pacific region is
expected to register significant growth in future five years due to increasing
number of market players in the countries like India, China, Japan, and South
Korea. Technological developments in these countries are also aiding the growth
of the market in the region,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based Global management consulting firm. “Global Smart Bags Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2016-2026
Segmented By Product Type (Bag packs, duffel bags,
handbags, Laptop bags, others), By Technology (USB Charging, Connectivity, RFID
Blocking Technology, Others), By Distribution channel (Specialty Store,
Supermarket & Hypermarket, Apparel & Footwear Store, Online, Others),
By Region”,
has evaluated the future growth potential of global smart bags and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global smart bags market.
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