PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629660
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629660
The global luggage delivery service market is estimated to be valued at USD 5.67 Bn in 2024 and is expected to reach USD 9.64 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 5.67 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 7.90% | 2031 Value Projection: | US$ 9.64 Bn |
Luggage delivery services provide door-to-door transportation of luggage and bags from the customer's location to the destination facility like a hotel, airport, or train station. With increasing air travel and tourism activities worldwide, the need for convenient delivery of luggage is growing steadily. Moreover, the rising trend of outsourcing non-core activities to specialist service providers is propelling various businesses to offer luggage delivery as a value-added service to their customers. Various luggage delivery startups are also emerging with online platforms and mobile apps for seamless booking and tracking of luggage shipments. With continued growth in international tourism and business travel expected in the coming years, the global luggage delivery service market is projected to expand at a favorable pace.
The global luggage delivery service market is driven by growing tourism and travel activities across the world. According to the United Nations World Tourism Organization (UNWTO), international tourist arrivals have doubled over the last 20 years with strong annual growth rates. The convenience and hassle-free nature of luggage delivery services when compared to carrying luggage oneself also bolsters the market growth. Moreover, increasing adoption of online luggage delivery booking platforms simplifies the service access for customers, thereby fueling the market expansion. However, stringent regulations pertaining to commercial transportation of goods act as a market restraint. Moreover, risks of luggage loss or damage during transit remains a key challenge. On the other hand, emerging trends like integrated luggage tracking systems and same day delivery provide significant opportunities in the coming years. Partnerships with transportation companies also allow market participants to leverage existing logistics infrastructure and deliver superior customer experience.
This report provides in-depth analysis of the global luggage delivery service market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global luggage delivery service market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Luggage Forward, Send My Bag, Luggage Free, AirPortr, My Baggage, BagsVIP, Excess Baggage Company, Travel Luggage, Luggage Concierge, Deliv, Bagbnb, Luggage Delivery Services, FlyAway, CheckedAway, and LuggageHero
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global luggage delivery service market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global luggage delivery service market