Global Smart Backpack Market 2017-2021
About Smart Backpack
Smart backpacks are a new generation of luggage that features some advanced technological enhancements such as embedded sensors, Universal Serial Bus (USB) chargers, Wi-Fi hotspots, and other electronics. Individuals who are engaged in outdoor recreational activities like camping, hiking, and trekking are the major consumers of smart backpacks. Smart backpacks of varying capacities are available in the market to cater to the varying needs of consumers. Based on capacity, smart backpacks can be divided into 15-35-liter backpacks, 36-60-liter backpacks, and above 60-liter backpacks. The marke drivers, trends, and challenges are discussed in the report. PESTLE and Porter's five forces analysis are also included in the report.
Technavio’s analysts forecast the global smart backpack market to grow at a CAGR of 4.98% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart backpack market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Backpack Market 2017-2021
Technavio recognizes the following companies as the key players in the global smart backpack market: AMPL LABS, CO.ALITION, Mancro, Targus, and TRAKK.
Other Prominent Vendors in the market are: Ghostek, KOPACK, MOS Pack, Poros, Shenzhen Joyelife Technology, and +TYLT.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is advanced technological innovations in product features. The launch of value-added and innovative luggage products is expected during the forecast period. Innovation is expected in design, color, shape, and weight. The demand for lightweight and durable backpacks is increasing globally as lightweight backpacks are easier to carry and handle and provides comfort to customers.”
According to the report, one driver in market is rise in trade offers by key competitors. In today's extremely competitive market environment, customer retention has become very difficult. Therefore, the vendors operating in the global smart backpack market are introducing various trade offers for consumers to trigger sales. Discounts, exchange offers, and festival offers are some of the trade deals being provided by the vendors through several distribution channels in different countries. These trade deals are attracting many consumers, thereby, increasing the sales revenue of the market competitors. The frequent introduction of trade offers by the competitors also tends to attract price-sensitive consumers, especially in developing regions such as APAC.
Further, the report states that one challenges in market is uncertain weather patterns. Globally, the outdoor activities market is dependent on weather conditions because unfavorable weather conditions can hamper outdoor recreational activities including camping, mountain biking, hiking, and trekking. Weather conditions such as extreme heat, cold, and humidity can lead to unpleasant experiences, which can, in turn, discourage participation in outdoor activities. During the rainy season, severe thunderstorms can develop, while during winters, there can be heavy snowfall. Such changes in weather can lead to cancellations of outdoor activities and reduce the rate of participation. Ports and marine areas are the most popular destinations for campers, but sudden increases in the sea level due to natural calamities can dampen their popularity as camping destinations.
AMPL LABS, CO.ALITION, Mancro, Targus, TRAKK, Ghostek, KOPACK, MOS Pack, Poros, Shenzhen Joyelife Technology, and +TYLT.
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