(MENAFN- GlobeNewsWire - Nasdaq) New York, Oct. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Bags Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Product Type, By Technology, By Distribution channel, By Region" -
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
Global smart bags market is expected to show robust growth registering an impressive CAGR in the forecast period, 2016-2026 on the account of surging demand of the product following the recent developments.Future growth of the consumer towards business and leisure travelling is expected to drive the growth of the global smart bags market in the upcoming five years.
Moreover, involvement of technologies like internet connectivity, RFID pockets, and USB connection, etc. is further supporting the growth of the global smart bags market in the next five years. The luggage industry overall is booming on the backbone of the latest innovation like tracking system, automated locking, and Bluetooth features further creating a lucrative growth for global smart bags market in the future five years. New market players are actively investing in the technical advancements and their incorporation in the luggage bags making them appropriate for smart travels, this consistent advancement along with start-up fundings and private investments is expected to propel the growth of global smart bags market in the forecast period.
Smart bags are the technologically influenced commodity for the consumers.It is an 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.
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.
The global smart bags market is segmented based on product type, technology, distribution channel, competitional landscape, and regional distribution.Based on product type, the market is further segmented into bag packs, duffel bags, handbags, laptop bags, and others.
Laptop bags are anticipated to dominate the market with largest amounts of revenue share in the upcoming five years.The market growth can be attributed to rapidly increasing consumers.
Surge in the demand for the laptop bags for the adult generation as well as young teenage generation is expected to drive the growth of the market segment, that would influence the growth of global smart bags market in the next five years.Bag packs are expected to register significant growth on the backbone of rapidly increasing number of tech-savvy travelers.
Technologically advanced features like GPS, power bank charging, RFID technology are all favorable tech for solo or group travelers, thereby enunciating the demand from the consumers and driving the growth of the global smart bags market in the forecast years.
Holding the major shares of the global smart bags market are 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, among others. Market players are actively involved in the research and technological development 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.
Years considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
• To analyze the historical growth of the market size of global smart bags market from 2016 to 2020.
• To estimate and forecast the market size of global smart bags market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global smart bags market based on product type, technology, distribution channel, competitional landscape, and regional distribution.
• To identify dominant region or segment in the global smart bags market.
• To identify drivers and challenges for global smart bags market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global smart bags market.
• To identify and analyze the profile of leading players operating in global smart bags market.
• To identify key sustainable strategies adopted by market players in global smart bags market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers, suppliers, and distributors across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufactures and service providers which could not be identified due to the limitations of secondary research. The analyst examined the manufactures, distribution channels and presence of all major players across the country.
The analyst calculated the market size of global smart bags market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, service providers, end users, and other stakeholders
• Distributors and suppliers of products & services and other stakeholders
• Organizations, forums, and alliances related to smart bags
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global smart bags market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Smart Bags Market, By Product Type:
o Bag Packs
o Duffel Bags
o Laptop Bags
• Smart Bags Market, By Technology:
o USB Charging
o RFID Blocking Technology
• Smart Bags Market, By Distribution Channel:
o Specialty Store
o Supermarket & Hypermarket
o Apparel & Footwear Store
• Smart Bags Market, By Region:
o North America
o Middle East & Africa
o South America
Company Profiles: Detailed analysis of the major companies present in global smart bags market.
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report:
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