Laptop Bag Market To Reach $12.1 Billion, Globally, By 2034 At 16.9% CAGR: Allied Market Research

Wilmington, Delaware, Sept. 26, 2024 (GLOBE NEWSWIRE) --

Allied Market Research published a report, titled, " Laptop bag market by Type (Backpacks, Briefcases, Messenger Bags, Sleeves and Hybrid Bags), Material Type (Leather, Nylon, Canvas, Polyester, Neoprene and Others), End User (Business Professionals, Students, Travelers and Others), and Distribution Channel (B2B, Specialty Stores, Department Stores, Online Sales Channel and Others): Global Opportunity Analysis and Industry Forecast, 2024-2034" . According to the report, The global laptop bag market was valued at $2.4 billion in 2023, and is projected to reach $12.1 billion by 2034, growing at a CAGR of 16.9% from 2024 to 2034.

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Prime determinants of growth

Rise in remote and hybrid work models has increased the need for versatile laptop bags that offer convenience and security while on the move. Increase in adoption of laptops and portable computing devices across various sectors, including education, business, and personal use, drives demand for protective and functional carrying solutions such as laptop bags. Moreover, growth in consumer preferences for stylish and customizable designs encourage manufacturers to innovate and cater to diverse tastes. In addition, advancements in material technology, such as the use of durable, eco-friendly fabrics, attract environmentally conscious buyers. Furthermore, the proliferation of e-commerce platforms also facilitates wider access to a variety of laptop bag options, further stimulating the market growth. Collectively, these factors contribute to ongoing development in the laptop bag industry.

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The backpacks segment led the market in 2023

Based on type, the backpacks segment held the highest market share in 2023, owing to the practicality and versatility of these bags. Backpacks offer superior comfort with even weight distribution across both shoulders, which has made them ideal for daily commutes and long durations. Backpacks typically provide ample space and organization with multiple compartments, accommodating laptops, accessories, and personal items efficiently. The hands-free design of backpacks adds convenience for busy individuals navigating various environments. In addition, backpacks often come in ergonomic designs with padded straps and back panels, that enhances user comfort. The trend toward casual and functional styles in both professional and academic settings further contributes to the popularity of backpacks, aligning with modern lifestyle needs.

The polyester segment held the highest market share in 2023

Based on material type, the polyester segment held the highest market share in 2023. Laptop bags made with polyester have high demand owing to the durability, affordability, and versatility of the material. Polyester is a strong, synthetic fabric that resists wear, tear, and water, which has made it ideal for protecting laptops and accessories. The material is lightweight, which contributes to the overall ease of carrying, and it holds up well against various environmental conditions. Polyester is also relatively cost-effective compared to other materials, which allows manufacturers to offer competitively priced products. Moreover, polyester can be easily dyed and treated, enabling a wide range of colors and designs to meet diverse consumer preferences. The low maintenance requirements of polyester laptop bags, including easy cleaning and resistance to stains, further enhance the appeal of this segment in the laptop bag market.

The student segment held the highest market share in 2023

Based on end use, the student segment held the highest market share in 2023, owing to the high demand for affordable, functional, and durable bags among students. As laptops and other digital devices become essential for academic work, students require reliable bags to transport their equipment. Laptop bags designed for students often feature compartments for organizing books and stationery, along with ergonomic designs for comfort. Moreover, affordability and style are key factors, as students seek budget-friendly options that reflect their personal tastes. Thus, the combination of practicality, affordability, and style drives the dominant market share of the student segment in the global laptop bag market.

The specialty stores segment dominated the market in 2023

Based on distribution channel, the specialty stores segment held the highest market share in 2023. Sales of laptop bags are high in specialty stores due to the tailored shopping experience and specialized product offerings these stores provide. Specialty stores often carry a curated selection of laptop bags that meet specific needs, such as enhanced protection, unique designs, or advanced features like integrated charging ports. In addition, knowledgeable staff can offer expert advice and personalized recommendations, helping customers find the perfect bag for their requirements. Moreover, specialty stores often feature high-quality brands and exclusive models not found in general retail outlets, appealing to consumers seeking premium or niche options. Thus, the focused approach ensures a better match between customer needs and product offerings, driving higher sales in these stores.

Asia-Pacific led the market share in 2023

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, owing to rapid urbanization, increase in disposable incomes, and a growing emphasis on education and technology. The expanding middle class in countries such as China and India drive the need for stylish and functional laptop bags among professionals and students alike. Rise in educational enrollments and the proliferation of digital devices further boost demand, as students and professionals require reliable solutions for transporting their laptops and accessories. In addition, the expansion of tech industry and remote work trends in Asia-Pacific region contributes to the high demand for versatile and durable laptop bags. Thus, the combination of economic growth, technological advancement, and changing lifestyle needs is anticipated to fuel the rapid market growth in Asia-Pacific region.

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Players: -

• Samsonite

• Targus

• Herschel Supply Co.

• Kensington

• North Face

• HP

• Lenovo

• Dell

• SwissGear

• Timbuk2
  

The report provides a detailed analysis of these key players in the global laptop bag market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Industry Dev

• In June 2023, Targus launched the Cypress Hero Backpack, which features an integrated location module, to provide users with bag that track their devices and belongings effortlessly through smart devices.

• In May 2023, The North Face released a limited-edition collection of laptop bags featuring advanced weatherproof technology to target outdoor enthusiasts who require durable gear for extreme conditions.

• In March 2023, Herschel Supply Co. expanded its product range with the introduction of a new line of laptop bags and accessories aimed at students and young professionals.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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