The global laptop backpack market size is expected to reach USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.8% over the forecast period. Rising consumer needs for technical gadgets in the workplace as well as educational institutes have created demand for backpack to provide protection from scratches, water damage, moisture, and heat. Manufacturers are increasing spending on new product developments to fulfill consumer growing demand. For instance, in July 2016, Samsonite IP Holdings S.AR.L launched protective laptop backpacks for professionals and school students.
The student application segment is expected to witness the fastest growth in the forecast period. Smart laptop backpacks in new color designs is gaining popularity among students as a result of new product launches by manufacturing companies in e-commerce portals. For instance, in August 2018, India based company, Portronics.com launched smart laptop backpack under their existing Elements series. Furthermore, increased use of laptops among students in developed economies including U.K. and Germany is expected to have a positive impact on the Laptop Backpack market growth.
Online distribution channel is expected to be the fastest growing channel, expanding at a CAGR of 4.7% from 2019 to 2025. These channels have gained popularity as they offer products on high discounts, which attract consumers to prefer this channel. Growing penetration of smartphones in developing countries including China, India, Mexico, Brazil and South Korea is expected to promote the access of online retailers in the near future.
Asia Pacific held the largest share in 2018 and is expected to register the fastest CAGR of 4.5% from 2019 to 2025. Expansion of the middle class population in developing countries such as China and India, coupled with requirement of technical gadgets at schools, colleges, and workplaces, is expected to remain a key factor driving the market. Furthermore, positive outlook towards the laptop and tablets industry in countries including China, India, and Australia as a result of increasing number of corporate companies and educational institutes is expected to open new avenues over the next few years.
Key laptop bag manufacturers include Nike, Inc.; Kensington Computer Products Group; Samsonite International S.A.; WINPARD; The Targus Corporation; Adidas AG; Belkin International, Inc.; Li-Ning Co., Ltd.; Samsonite International S.A.; and Tumi Holdings, Inc. Companies are working on developing new products, which will provide better convenience to the consumers.
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Laptop Backpack Market Report Highlights
• The business application segment generated a revenue of USD 531.2 million in 2018 owing to predominant use of laptops among working class professionals
• Online channel is projected to ascend at a CAGR of 4.7% from 2019 to 2025
• Asia Pacific is expected to expand at the fastest CAGR of 4.5% from 2019 to 2025
• U.S. is projected to generate a revenue of exceeding USD 240 million by the end of 2025
• New product development is expected to remain a key strategy among the industry participants
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Laptop Backpack Market Segmentation
Grand View Research has segmented the global laptop backpack market on the basis of application, distribution channel and region:
Laptop Backpack Application Outlook (Revenue, USD Million, 2015 – 2025)
Laptop Backpack Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Hypermarkets & Supermarkets
• Convenience Stores
Laptop Backpack Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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