Smart Luggage Market to cross USD 2 billion to grow at 16% CAGR to 2024

Smart Luggage Market in digital scaling application segment growth will be driven by escalating demand from the consumer side to analyze the total weight of the bag prior to the journey. This enables the travelers to avoid the hassles associated with the travel and also eliminates the risks associated with over packing.

The connectivity technology segment is expected to witness growth in the smart luggage market due to the demand from the customers to access the luggage with convenience. It also enables the users to get insights on the gates, currency exchange and flight schedules. This connected smart luggage are designed such that to shut down when it is onboard and automatically switch on while landing to meet the regulations of the government regarding the usage of wireless technologies.

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The penetration of advanced technologies such as Bluetooth, PS and digital scaling which enables the users to check the weight of the baggage and offer locking proximity alternatives.

Global Smart Luggage Market was estimated to be over USD 630 million in 2016. This growth is accredited to the rising per capita income and shift in the consumer demands for convenient lifestyle. The demand for user friendly luggage for practical applications will surge the industry demand in the next few years.

High cost associated with these products coupled with the lack of awareness is expected to hinder the smart luggage market growth over the forecast timeline. Moreover, the technology consumers high energy resources such as the lithium batteries, which is mentioned as a hazardous substance amongst the aircraft authority posing a challenge to its largescale adoption.

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The Asia Pacific smart luggage market is expected to witness high growth owing to the rising urbanization and increase in the air traffic levels specifically in countries such as Malaysia and Singapore. Many organizations are heavily investing in the technology as it enables them to offer better customer experiences and monitor the process based on different insights. Furthermore, a rising demand for sophisticated and varied luggage products, numerous trendy and intelligent suitcase categories have escalated the demand for these products.

Key players participating in the smart luggage market include Bluesmart, Delsey, Samsonite, Away, Trunkster, Reden, Barracuda, and Lugloc. The industry is highly consolidated due to the presence of few major companies which are constantly coming up with new technologies and tech-savvy features. Furthermore, these companies are also working towards enhancing the current range of products and new product development to gain the competitive advantage.

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