Global Smart Backpack Market Expected to Grow at a CAGR of Almost 5% by 2021: Technavio

Technavio has published a new report on the global smart backpack market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global smart backpack market to reach USD 3.569 billion by 2021 during the forecast period, according to their latest report.

This research report titled ‘Global Smart Backpack Market for 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global market for smart backpack derives its growth largely from the tourism industry. A few factors that have helped the market to grow significantly are changing demographics, evolving lifestyle, increasing awareness of new products, growth in outdoor vacation trips, and rise in income levels. Improved distribution and marketing initiatives through digital channels and a rise in the interest and participation in outdoor activities are playing crucial roles in increasing the demand for smart backpacks.

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Technavio’s analysts categorize the global smart backpack market into the following three segments by capacity. They are:

  • 15-35-liter
  • 36-60-liter
  • Above 60-liter

15-35-liter

The global 15-35-liter smart backpack market is expected to reach USD 1.633 billion by 2021, with a CAGR of almost 5% during the forecast period. Smart backpacks with a capacity of 15-35-liters are also called day packs. They are small in size and have a frameless structure accompanied by shoulder straps. They are less expensive than backpacks having higher capacity.

According to Abhay Sinha, a lead research analyst from Technavio, “Smart backpacks with 15-35-liter capacity are mainly preferred for one to three-night trips. From a competitive perspective, this segment is highly fragmented as almost all the smart backpack manufacturers have product offerings in this category.”

36-60-liter

The global 36-60-liter smart backpack market is expected to grow at a CAGR of more than 5% during the forecast period. These are medium sized backpacks and are more expensive compared to the lower-capacity backpacks. Both internal and external frames that are made of lightweight metals like aluminum are added in these backpacks. These backpacks are mostly suitable for three to five-day-long trips. Beginners and amateur buyers are more attracted towards these backpacks.

36-60-liter smart backpacks are the most popular outdoor backpacks, which are sold by specialty stores and are an excellent choice for warm-weather trips of more than three days. These backpacks are also used for activities like backcountry skiing, day trips, and sometimes two-night trips,” adds Abhay.

Above 60-liter

Smart backpacks that have a capacity of more than 60 liters are also called expedition backpacks. Professional and regular travelers mainly use these backpacks, therefore, a sizable portion of the sales is derived from such travelers. These backpacks are suitable for long-duration trips that require a large amount of equipment and accessories to be carried and are equipped with either an internal frame or an external frame for better load management. These above 60-liter backpacks are designed for activities like climbing, trekking, and mountaineering as they have a sturdy frame and are highly durable.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • AMPL LABS
  • CO.ALITION
  • Mancro
  • Targus
  • TRAKK

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global smart backpack market to reach USD 3.569 billion by 2021 during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com