Smart Luggage Market in digital scaling application segment will have the highest growth in the coming years due to the 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.
Smart luggage market 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. 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.
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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Real-time tracking applications in the smart luggage market 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 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.
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.
North America, being one of the hubs of smart technology, is a profitable growth avenue for smart luggage market. The large-scale deployment of connected baggage has prompted companies to brainstorm and develop innovative products, which would considerably impel North America smart luggage industry. In fact, estimates claim North America to account for a rather huge share in smart luggage industry.
With IoT firmly having established its predominance in the travel arena, smart luggage market is likely to emerge as one of most remunerative business spheres in the ensuing years. Companies partaking in smart luggage industry share have been hinting at incorporating a lot more user-friendly features in their products, which would considerably impel this business space. According to the Global Market Insights, Inc., smart luggage industry will hit a revenue of over USD 2 billion by 2024.
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