(MENAFNEditorial) iCrowdNewswire - Oct 27, 2017
MaketStudyReport.com adds a New Smart Luggage Market Research Report for the period of 2017 - 2024 that shows the growth of the market is rising at 2024.
size is set to exceed USD 2 billion by 2024; as per a new research report.
The smart luggage market is expected to grow at a significant pace, owing to continuous technological innovation in the baggage segment. Proliferation of IoT (internet of things) is expected to fuel the industry growth over the forecast timeline. Frequent air travelers need the technology that help them reduce check-in times, avoid mishandling of baggage, and remain updated about their itinerary. Furthermore, constantly rising baggage costs by the airlines is expected to aid the smart luggage market growth. Proliferation of online distribution channels and factory outlets play significant role in proliferation of these products.
Steady growth in the tourism industry and increased frequency of international travel is expected to provide workable growth opportunities to the market. However, increased concerns over security and safety is expected to be a major restraining factor, over the forecast timespan.
Sensors are expected to play a key role in the adoption of smart baggage. Tracking the misplaced or lost luggage is expected to boost the demand for proximity sensors. Miniaturization trend in the electronics segment is expected to positively impact the smart luggage market.
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The above information is provided on a regional and country basis for the following:
- North America: S, Canada.
- Europe: Germany, UK, France, Italy, Russia.
- Asia Pacific: China, India, Japan, Australia.
- MEA: South Africa, Saudi Arabia.
- Latin America (LATAM): Argentina, Brazil, Mexico, Asia Pacific, China, Japan, India,
Growth drivers
Successful completion of the Human Genome Project
Increasing public-private investments, funds, and grants
Advances in biotechnology
Increased Application in clinical diagnosis
Rising use of personalized medicine
Rise in incidence and prevalence of chronic diseases
Reduced cost and high speed for DNA sequencing
Industry pitfalls & challenges
Unclear ROI of precision medicine
Lack of trained staff
Smart Luggage Market By Technology: Connectivity, Wi-Fi, Bluetooth, GPS, RFID, Sensors, SIM cards, USB charging.
Smart Luggage Market By Application: Real-time tracking, Proximity alerts, Remote locking, Digital scaling.
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Real-time tracking applications are forecast to witness growth owing to the increase in instances of luggage misplacement by the airlines. The companion application, compatible with Android and iOS and that comes with the intelligent bag is expected to gain customer attention, owing to the features such as locking & tracking and information updates regarding flight schedules. Increase in security is expected to drive the demand for locking applications.
The Asia Pacific smart luggage market is expected to witness significant growth, owing to growing demand for baggage with attractive design, high quality, and comfortable products. The increasing urban population base and disposable income of the people will further drive the demand in the region. The Europe smart luggage market is expected to gain momentum over the next seven years, owing to increase in tourism and readiness of the people to adopt new technologies.
Some of the prominent players in the smart luggage industry include Bluesmart, Neit, Away, Trunkster, LugLoc, TraxPack, and Barracuda. Many startups are expected to enter the market, owing to the availability of funding on crowdsourcing platforms and huge potential. The manufacturers are continuously investing in R & D to add more features, to make it user-friendly for practical applications. For instance, Modobag is a suitcase that van alternately be used as a motor scooter with built-in seat and footrests. The device has a GPS system to keep a track of itself and two USB ports to keep the device charged.
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Global (North America, Europe and Asia-Pacific, South America, Middle East and Africa) Wireless Broadband Market 2017 Forecast to 2022
"Wireless broadband connects a home or business to the Internet using a radio link between the customer?s location and the service provider?s facility. Wireless broadband can be mobile or fixed.
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