Smart suitcase is a suitcase with an electronic board and a power supply for charging, which can charge electronic devices during the trip, but this device can be intercepted to prevent theft and loss. With the advancement of technology and the increasing use of electronic devices, firstly, there was a need for a power supply (charger) during the trip, and secondly, sometimes problems such as luggage loss and theft during the travel process, especially air travel, made the travelling experience bitter for many passengers, but new technology has solved these problems to some extent.
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Market / Industry segment of of smart luggage
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2016 | 0.63 | 8 | 16.00% | GMInsights |
| 2019 | 1.26 | 6 | 8.00% | Techsci research |
| 2019 | 0.806 | 6 | 8.70% | Arcognizance |
| 2020 | 0.783 | 7 | 9.10% | Market.us |
| 2016 | 0.63 | 8 | 16.00% | Globe news wire |
Influencing factors that changes market size of smart luggage
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of smart luggage
Direct drivers:
- Advancement and acceptance of technology
- Consumer shift towards lifestyle, leisure, and style-quotient
Reverse drivers:
- Insecure network
- Technical problems
- Cyber attacks
- High costs
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Your startup has had at least one funding round, you are advised to use Multiples method for valuation.
Your startup is at pre-seed and seed funding rounds, you are advised to use the Score Cards Method, Risk Factors Summation method to value your startup.
The following risks may threaten this market.
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of smart luggage may also be threatened by following risks:
- Technology risk
- Funding risk
- Stage of business
- Manufacturing risk
- Sales and marketing risk
