Global Travel Gadget Market Overview:
A travel gadget is a small mechanical or electronic device or tool that is used to make private or business travel more convenient and easier. The travel gadget is designed to change the way we experience the world and also serve as a lifesaver for travelers. The travel gadget provides solutions to most travel problems and keeps things organized and on the go. Small size, lightweight, and the ease with which these can be used anywhere are some of the features that make the travel gadget market more attractive. In addition, their use in the worst conditions, especially in outdoor activities, contributes to the growth of the market. In addition, these devices not only help with business travel but are also aimed at enhancing business travel. For companies, high demands on the containment of costs, technology functions, and products help enforce the guidelines, direct purchasing to preferred suppliers, optimize the prices paid and illuminate travel costs. With the use of 5G networks, travel gadgets are becoming more and more necessary. This promises high network coverage, relatively higher load and download speeds, and improved stable connections. This enables a more efficient connection between smart devices and the Internet of Things, even when traveling. It will also help make augmented reality and 360 videos more ubiquitous and accessible. This will surely lead to improved and smarter travel, which gives the travel gadget market more transparent options.
- A Large Number of Millennial Is Spending Considerably On Travel to Maintain Physical and Mental Health
- Rising Consumer Spending
- Growing Number of Business Travelers at the Global and Regional Level
- Rising Demand for the Products among the Urban Population
- The Rising Trend in the Number of Female Solo Travellers
- High Product Cost
- Rising Raw Material Cost
- Attraction towards Promotion and Marketing of Adventure Travels
- Rising Inclination towards Travelling to Undiscovered Regions
- Uncertain Environment Conditions
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Skyroam (United States), ASUS (Taiwan), Canon (Japan), Zendure (United States), Sennheiser (Germany), Victorinox (Switzerland), Sonos (United States), Aukey (China), One Mug Brewers, LLC (United States) and Anker Innovations Technology (China). Analyst at AMA Research see United States Vendors to retain maximum share of Global Travel Gadget market by 2026. Considering Market by Distribution Channel, the sub-segment i.e. Supermarkets/Hypermarkets will boost the Travel Gadget market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Travel Gadget market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Travel Gadget market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Travel Gadgets, Suppliers and Distributors of Travel Gadgets, Venture Capitalists and Private Equity Firms and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.