Smart Bags Market Size Worth $ 4.42 Billion By 2032 | CAGR: 12.5%

The global smart bags market size is expected to reach USD 4.42 billion by 2032, according to a new study by Polaris Market Research. The report “Smart Bags Market Share, Size, Trends, Industry Analysis Report, By Material Type (Ballistic Nylon, Canvas, Leather, Polycarbonate, PVC, and Tegris); By Types; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapid developments and innovations in the production process of smart-carry bags and rising proliferation of IoT-based applications across the luggage industry along with the significant change in people lifestyles and focus on innovative products quality and designs as well, are among the prominent factors fostering the growth of the market. Smart bag manufacturers globally are also focusing on creating designs that blend technology seamlessly with fashion, while incorporating aesthetics, color options, and trendy designs to appeal to a wider audience, that is pushing the growth and product demand forward.

For instance, in February 2022, DRESSFRESH, announced about the launch of its latest NOVO Duffel, a new smart bag which eliminates Germs and Odors. The newly developed duffel provides a quite easy way to refresh the athletic apparel, clothing packed for the gym, and sports gear.

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Smart bags now using embedded systems, which are small and specialized computers that control various features and functionalities and allow smart bags to easily incorporate advanced features such as GPS tracking, biometric security, and Bluetooth connectivity and are also being introduced with companion apps that enable users to control and monitor the features of the bag conveniently, which has gained significant traction in the recent years.

The key companies operating in the market has started offering customization options, allowing customers to choose color combinations, add personal monograms or logos, and select additional features based on their preferences, which enhances the ownership experience and helps consumers create unique and personalized smart bags, that is among one of the key trends emerging in the market.

Smart Bags Market Report Highlights

• Ballistic nylon segment accounted for the largest market share in 2022, on account of its numerous beneficial characteristics including durability, reinforced compartments, and tamper-resistant zipper
• Duffle smart bags segment projected to hold considerable market share over the study period, mainly due to integration of advanced features like weatherproofing and anti-theft mechanisms among others
• Online segment is anticipated to be the fastest growing region with a significant growth rate, owing to increased number of online shoppers worldwide because of numerous benefits offered by online shopping platforms
• North America region dominated the global market with significant revenue share in 2022, due to the growing number of technologically-aware consumers and their early adoption of technologically-enabled products
• The global key market players include Delsey, Horizon Studios, Planet Traveler, Samsonite IP Holdings, Away Com, Rollux Luggage, and Neit Products

Polaris Market Research has segmented the smart bags market report based on material type, types, distribution channel, and region:

Smart Bags, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Ballistic Nylon
• Canvas
• Leather
• Polycarbonate
• PVC
• Tegris

Smart Bags, Types Outlook (Revenue - USD Billion, 2019 - 2032)

• Duffle Smart Bags
• Trolley Smart Bags
• Backpacks

Smart Bags, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Supermarkets/Hypermarkets
• Brand Outlets
• Online Stores
• Factory Outlets
• Others

Smart Bags, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Smart Bags Market Report Scope