Smart Luggage Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0192490
  • Format: Electronic (PDF)
  • Number of Pages: 195
  • Author(s): Joshi, Madhavi

Report Overview

The Smart Luggage Market size was estimated at USD 1.2 billion in 2023 and is projected to reach USD 2.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

Smart Luggage Market

(Market Size)
$1.2 billion
$2.8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.00%
2023 Market Size USD 1.2 billion
2030 Market Size USD 2.8 billion
Key Players Away, Bluesmart, Raden, Samsonite, Barracuda

Market Summary

The smart luggage market represents a rapidly evolving segment within the consumer goods industry, characterized by the integration of advanced technologies into traditional luggage designs. This market caters to a growing demographic of tech-savvy travelers seeking enhanced convenience, security, and connectivity during their journeys. Smart luggage products typically incorporate features such as GPS tracking, built-in scales, USB charging ports, remote locking mechanisms, and Bluetooth connectivity. The proliferation of Internet of Things (IoT) technology and the increasing consumer demand for personalized and seamless travel experiences are fundamental forces propelling this niche market forward. Manufacturers are continuously innovating to offer products that not only transport belongings but also serve as mobile hubs for digital needs. The competitive landscape is dynamic, with both established luggage brands and new tech-driven startups vying for market share by introducing sophisticated and user-centric products.

Key Highlights

The smart luggage market is distinguished by several key innovations that redefine travel convenience. A primary highlight is the integration of GPS and GSM technology, enabling real-time location tracking directly through a smartphone application, which provides immense peace of mind to travelers concerned about lost luggage. Another significant feature is the inclusion of removable, TSA-compliant batteries that power USB ports for charging electronic devices on the go, addressing the modern traveler's constant need for power. Furthermore, biometric locks and digital locking systems controlled via mobile apps offer a higher level of security compared to traditional combination locks. Some premium models also include AI-powered features, such as automated following capabilities, though these are less common. The use of durable, lightweight materials like polycarbonate and carbon fiber is also a standard, ensuring the tech components do not add prohibitive weight. These highlights collectively transform luggage from a passive travel item into an active, intelligent travel companion.

Drivers, Opportunities & Restraints

The growth of the smart luggage market is primarily driven by the rising global travel and tourism industry, coupled with increasing consumer disposable income and a strong preference for technologically enhanced products. The modern traveler's desire for convenience, efficiency, and a connected experience is a powerful driver compelling manufacturers to innovate. Furthermore, the widespread penetration of smartphones and the ubiquitous nature of mobile applications create a perfect ecosystem for smart luggage adoption. A significant opportunity lies in the expansion into emerging markets, where a growing middle class is beginning to travel more frequently and is eager to adopt modern gadgets. Personalization and subscription-based services for features like data plans for GPS tracking present additional revenue streams. However, the market faces notable restraints, including stringent airline regulations concerning lithium-ion batteries, which have led to bans or restrictions on certain smart luggage features on flights. High product costs compared to conventional luggage can also limit mass-market adoption, and concerns regarding data privacy and security for connected devices remain a challenge that the industry must continuously address.

Concentration Insights

The smart luggage market exhibits a concentrated competitive landscape, though it is populated by a diverse mix of players. The market concentration is characterized by the presence of a few pioneering startups that initially defined the category, alongside large, established luggage corporations that have entered the space through innovation and acquisition. Companies such as Samsonite, TUMI, and Delsey have leveraged their brand reputation and extensive distribution networks to launch their own lines of smart luggage. Simultaneously, specialist firms like Bluesmart (before its closure) and Away initially drove much of the innovation and consumer awareness. This has created a scenario where scale and brand trust from incumbents compete with the agility and tech-focused approach of newer entrants. The concentration is further influenced by patents on specific technologies, such as unique tracking systems or battery designs, which can create temporary monopolies for certain features. Strategic partnerships between luggage makers and technology companies are also common, further shaping the market's structure.

Type Insights

Smart luggage is broadly categorized based on product type, with carry-on and checked luggage being the primary segments. Smart carry-on luggage is the most popular and advanced category, as it remains in the traveler's possession and is designed to meet strict airline size regulations. These products emphasize features like built-in batteries for charging, GPS tracking for security within airports, and compact, durable designs. Smart checked luggage, while less common, focuses on more robust tracking technology to mitigate the risks associated with baggage handling systems, often incorporating longer-range GPS and cellular connectivity. Beyond this, the market is also seeing the emergence of smart backpacks and business cases, which cater to urban professionals and hybrid travel. The differentiation within types is increasingly based on the sophistication of the technology integrated; for instance, some high-end models offer fingerprint scanners, while others focus on weight sensors and app connectivity. The choice of type is heavily influenced by travel patterns, with frequent business travelers often preferring feature-rich carry-ons.

Application Insights

The application of smart luggage is almost exclusively centered on the travel industry, serving both leisure and business travelers. For leisure travelers, the primary application is to enhance the vacation experience by reducing travel hassles, securing valuables, and ensuring entertainment devices remain charged. Families, in particular, find value in tracking features for multiple bags. For business travelers, smart luggage is a productivity tool; it ensures they arrive at meetings with charged laptops and phones, provides seamless mobility through airports with features like built-in scales to avoid overweight fees, and offers secure storage for sensitive documents and electronics. A niche application is also emerging for adventure and luxury travel, where durability and exclusive features are paramount. The application is fundamentally tied to the value proposition of convenience, security, and connectivity, addressing pain points specific to each traveler segment. The adoption rate varies significantly across these applications, with business travelers and frequent flyers being the earliest and most prolific adopters.

Regional Insights

The adoption and development of the smart luggage market show distinct regional variations. North America, particularly the United States, represents the largest and most mature market. This is attributed to high disposable income, a strong culture of both business and leisure travel, and the presence of leading manufacturers and tech companies driving innovation. Europe follows closely, with strong demand in Western European countries like the UK, Germany, and France, where consumers are similarly tech-adoptive and have high travel expenditure. The Asia-Pacific region is identified as the fastest-growing market, fueled by a rapidly expanding middle class, increasing outbound tourism, and a strong affinity for electronic gadgets in countries like China, Japan, and South Korea. Markets in Latin America and the Middle East and Africa are still in nascent stages but present significant growth potential as travel and tourism infrastructure develops and consumer awareness increases. Regional airline regulations also play a critical role in shaping product features and availability in each market.

Company Insights

The competitive arena of the smart luggage market features a blend of established luggage giants and innovative startups. Key players include Samsonite International S.A., which has introduced smart features across its brands like TUMI and Samsonite Black Label. LVMH-owned Rimowa is another significant player, known for its premium, aesthetically focused smart luggage with electronic tags and connectivity. Away Travel, Inc. has been a disruptive force, building a direct-to-consumer brand centered around a removable battery and a robust online community. Other notable companies include Delsey, with its connected luggage offerings, and startups like Raden (which ceased operations) and Barracuda, which focus on specific technological integrations. Companies compete not only on the breadth and innovation of technological features but also on design aesthetics, brand positioning, material quality, and price point. The strategy often involves forming partnerships with tech firms for components like trackers and batteries, and a strong digital marketing and e-commerce presence is crucial for success.

Recent Developments

The smart luggage market has witnessed several pivotal recent developments that reflect its dynamic nature. A major trend has been the industry's adaptation to evolving airline regulations concerning lithium-ion batteries. This has led to a widespread redesign of products to feature easily removable batteries, ensuring compliance and maintaining functionality. There has been a significant push towards enhancing connectivity, with many new models now offering 4G LTE or even 5G connectivity for more reliable and faster tracking and data transmission, moving beyond Bluetooth's limited range. Sustainability has also emerged as a key development area, with companies exploring the use of recycled materials for the luggage shell and packaging to appeal to environmentally conscious consumers. Furthermore, the competitive landscape has seen consolidation, with larger corporations acquiring smaller startups to quickly gain access to proprietary technology and innovative designs. The integration of the luggage ecosystem with broader travel apps and services is another ongoing development, aiming to create a seamless end-to-end travel experience.

Report Segmentation

This comprehensive market research report on the smart luggage market provides a detailed analysis segmented across multiple dimensions to offer granular insights. The segmentation is structured to help businesses understand specific areas of opportunity and competition. The report is segmented by product type, distinguishing between smart carry-on luggage and smart checked luggage, with further breakdowns for other forms like backpacks and duffels. It is also segmented by connectivity technology, analyzing products based on Bluetooth, GPS, GSM, and Wi-Fi capabilities. The application segmentation categorizes the market into business travel and leisure travel, highlighting the differing needs and adoption rates. Furthermore, a regional segmentation provides in-depth analysis across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each regional analysis covers key countries, market trends, and growth influencers. This multi-faceted segmentation allows stakeholders to pinpoint exact market dynamics, consumer preferences, and competitive intensity within each niche segment of the global smart luggage market.

FAQs

What is smart luggage? Smart luggage refers to suitcases and travel bags integrated with advanced technological features such as GPS tracking, USB charging ports, built-in scales, Bluetooth connectivity, and digital locks, all designed to enhance the convenience, security, and connectivity for the traveler.

How does GPS tracking in luggage work? GPS tracking in smart luggage typically uses a combination of GPS for outdoor location and other technologies like GSM or Bluetooth for indoor positioning. The location data is transmitted to a companion smartphone application, allowing the user to see the bag's whereabouts in near real-time on a map.

Are there airline restrictions on smart luggage? Yes, many airlines have restrictions on smart luggage with non-removable lithium-ion batteries. Most require that the battery be removed before the bag is checked in or carried on. It is crucial for travelers to check the specific regulations of their airline before flying with smart luggage.

Can you charge smart luggage? Yes, smart luggage with battery packs is rechargeable via a standard wall charger. These batteries are designed to power the bag's features, most commonly the USB ports used for charging electronic devices like phones and tablets.

What happens if the battery dies on smart luggage? If the battery dies, the smart features such as GPS tracking, USB charging, and electronic locks will cease to function. However, the luggage will still perform its primary function of carrying belongings. The mechanical lock alternative, if present, would still be usable.

Is smart luggage allowed on international flights? Regulations for smart luggage on international flights vary by airline and country. While the general rule concerning removable batteries often applies, the specific policies can differ. Travelers must verify the rules with each international carrier they are using for their journey.

Citius Research has developed a research report titled “Smart Luggage Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Smart Luggage Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Smart Luggage Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Smart Luggage Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Smart Luggage Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Smart Luggage Market
• Research Methodology
• Executive Summary
• Market Dynamics of Smart Luggage Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Smart Luggage Market
• Cost and Gross Margin Analysis of Smart Luggage Market
• Smart Luggage Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Smart Luggage Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Smart Luggage Market Key Stakeholders

Below are the key stakeholders for the Smart Luggage Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Smart Luggage Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Smart Luggage Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Smart Luggage Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Smart Luggage Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Smart Luggage Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Smart Luggage Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Smart Luggage Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Smart Luggage Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Smart Luggage Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Smart Luggage Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Smart Luggage Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Smart Luggage Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Smart Luggage Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Smart Luggage Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Smart Luggage Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Smart Luggage Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Smart Luggage Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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