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    Smart Luggage Market Soars with a Remarkable CAGR of 23.76% | A Fusion of Tech and Style

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    Revolutionizing Travel with High-Tech Features, Connectivity, and Elegance

    The global Smart Luggage Market is experiencing a phenomenal growth trajectory, boasting a compelling Compound Annual Growth Rate (CAGR) of 23.76% over the forecast period from 2023 to 2030. This surge is fueled by an amalgamation of factors such as high-tech features, increased internet penetration, rising income levels, heightened product awareness, urbanization, and a growing inclination towards a luxurious lifestyle.

    Market Overview

    Smart luggage, equipped with Bluetooth, GPS, Wi-Fi, and built-in batteries, presents a sleek design and durable material, making these suitcases both appealing and stylish. Valued at USD 1.42 billion in 2022, the market is poised to reach USD 7.83 billion by 2030.

    The surge in demand is attributed to consumers seeking convenience in their travel experiences and a shift in preferences toward bags of varying colors and textures. Prominent companies are diversifying their smart luggage offerings to cater to different categories such as business travel, tour travel, trekking, and hiking. The inclusion of a digital locking system, comprising pattern, pin, and password locks, along with remote locking features, addresses the growing concern of material loss from bags.

    Get a Sample Report of Smart Luggage Market @ https://www.snsinsider.com/sample-request/1590

    Major Key Players Included in the Report are:

    • Samsonite International S.A
    • Away
    • Trunkster
    • Raden
    • Bluesmart Black Edition
    • Horizon
    • Delsey
    • Planet Traveler
    • Ready Traveler
    • TraxPack
    • Others

    Market Analysis

    Factors driving the Smart Luggage market include the growth in the travel industry, advancements in product design, and the increasing demand for Internet of Things (IoT)-based applications. The segment’s long-term growth is further fueled by the surge in international travel, internet penetration, and consumers’ preference for online shopping activities related to luggage products. The future of travel is smarter, more connected, and undeniably stylish with the surging global Smart Luggage market.

    Segmentation Analysis

    By Luggage Connectivity: The market is segmented into RFID, GPS, Bluetooth, and combination connectivity features. RFID technology, preferred for airport security, is projected to exhibit a significant market share, facilitating hassle-free check-ins and check-outs.

    By Application: Segmentation includes Real-Time Tracking, Proximity Sensors, Remote Locking, Digital Scaling, and Others. Remote Locking and Real-Time Tracking dominate the segment, while Proximity Sensors are anticipated to grow in the forecast period.

    Market Segmentation and Sub-Segmentation Included Are:

    On The Basis of Technology:

    • Sensors
    • SIM Cards
    • USD Charging
    • Connectivity Technology

    On The Basis of Connectivity:

    • GPS
    • Wi-Fi
    • RFID
    • Bluetooth

    On The Basis of Application:

    • Remote Locking
    • Digital Scaling
    • Real-time Tracking
    • Proximity Sensors
    • Others

    Key Regional Development

    The North American region leads with the largest market share, attributed to the widespread adoption of technology-enabled products in countries like the United States and Canada. Meanwhile, the Asia Pacific region experiences the fastest growth, supported by positive governmental initiatives in countries such as India, Thailand, and Malaysia to boost tourism development.

    Key Takeaway

    Smart luggage not only boasts advanced technological features but also offers a stylish look. The anti-theft protection, providing alarms or notifications when luggage is disconnected or moved out of range, adds an extra layer of security.

    Recent Developments

    September 2019: Samsonite IP Holdings S.AR.L. partnered with Panasonic Corporation to launch ‘EVOA Tech,’ allowing users to tag and track luggage through Bluetooth and IoT features.

    May 2020: Porsche SE’s brand Porsche Design collaborated with Bricstore to develop high-performing and lightweight luggage products in the Italian Market.

    Table of Contents – Major Key Points

    1. Introduction
    2. Research Methodology
    3. Market Dynamics
    4. Impact Analysis
      • COVID-19 Impact Analysis
      • Impact of Ukraine- Russia war
      • Impact of ongoing Recession on Major Economies
    5. Value Chain Analysis
    6. Porter’s 5 Forces Model
    7. PEST Analysis
    8. Smart Luggage Market Segmentation, by Technology
    9. Smart Luggage Market Segmentation, by Connectivity
    10. Smart Luggage Market Segmentation, by Application
    11. Regional Analysis
    12. Company Profiles
    13. Competitive Landscape
    14. Conclusion

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