- The key vendors in the travel and business bags market in the US 2015-2019 are Briggs and Rilley, Delsey, Louis Vuitton, Rimowa, Samsonite, Travelpro, Tumi, VF Corp, and Victorinox
London, 7 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the travel and business bags market in the US 2015-2019. The increasing demand for luggage courier services is a major trend observed in this market. The luggage courier companies collect customers’ luggage and ship it to the desired location using services like FedEx and UPS. Advantages like on-time delivery, no waiting in airport queues, and low cost of transport are responsible for the increasing popularity of luggage courier companies. This market is expected to grow at a CAGR of 13.58% by revenue and 8.31% by volume during the forecast period of 2014-2019.
Source: Technavio Research
The increase in travel frequency coupled with high disposable income of consumers is driving the prospects of growth in this market. Factors such as growing demand for aesthetically appealing luggage carriers, marketing campaigns by vendors, and increasing demand for affordable luxury products augment growth in this market. The introduction of smart luggage and environment-friendly travel bags by vendors address the changing preference of the consumers. Also, the launch of designer bags for men helps in increasing the sale of travel and business bags in this region.
“Smart luggage is a very innovative and upcoming niche segment in the industry, empowered by modern technologies such as GPS tracking, locking and unlocking using mobile apps, and trip tracking. It makes travel hassle-free and increases luggage security,” says Faisal Ghaus, Vice President of Technavio Research.
“The electronic devices may be available as separate packable devices or built into the luggage product. The leading companies in the smart luggage segment are eGeeTouch, which offers smart locks, and Indiegogo, which offers a high-quality carry-on luggage that can be controlled through a smartphone.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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