Smart Luggage Market to grow at 16% CAGR from 2017 to 2024

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Smart Luggage Market to grow at 16 CAGR from
2017 to 2024 Global Market Insights Inc.
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Key Insights from Smart Luggage Market

• Smart Luggage Market size is set to exceed USD 2
  billion by 2024 according to a new research
  report by Global Market Insights, Inc.
• 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.

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Continued...

• 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.
• 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.

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Luggage Market _at_ http//bit.ly/2y1Lluo
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Report _at_ https//www.gminsights.com/request-sample
/detail/2066
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Continued...

• 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 RD 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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U.S. Smart Luggage Market Size, By Application,
2016 2024 (USD Million)

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360 Analysis

• By Technology
• Advancements in technology have enabled the
  customers to enjoy their journey with high degree
  of comfort. Connectivity technology is expected
  to hold major share of the smart luggage during
  forecast time. Based on connectivity technology,
  RFID is expected to witness high growth, owing to
  existing infrastructure of RFID scanning on the
  airports.
• By Application
• Real-time tracking applications are expected to
  gain popularity over the forecast timeline, owing
  to increasing instances of loss of luggage by the
  airlines. Thefts of luggage and security breaches
  have encouraged the customers to buy smart
  luggage equipped with remote locking and
  proximity alerting capabilities.
• Digital scaling in the smart baggage systems is
  expected to gain consumer focus, as it avoids the
  last-minute hassle of the passenger travelling
  with an over-weight baggage. The weight sensors
  in the bag calibrates itself when the bag is
  empty.
• Competitive Market Share
• Key players in the market include Delsey,
  Bluesmart, Samsonite, Away, Reden, Trunkster,
  Barracuda, and Lugloc.

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