To protect the electronic devices and gadgets from water, sand, and other potential hazards there is a need for a waterproof bag. Waterproof bags are made up of synthetic and natural fabrics, which are coated or laminated with waterproofing materials such as silicone elastomer, polyurethane, polyvinylchloride, rubber, and wax. Depending upon the waterproofing principle, there are different types of waterproof bags available in the market, such as DryCase Tablet and TrendyDigital Waterproof Case. In these bags, there is a vacuum seal from which air is pumped out once it is sealed, in order to avoid sand and water from reaching the device inside it. Waterproof bags market has been expanding at a significant growth rate over the last two decades. These bags find applications in the defense, marine, trekking, and electronics industries. They are mostly used by travellers to protect their mobiles and cameras from sand, water, etc.
The increasing market of gadgets and devices is leading to the rise in demand for their protective covers and bags, thereby boosting growth of the global waterproof bags market. The increasing interest of people in water sports, such as river rafting, is aligning them to use waterproof bags for their devices, a factor which is further contributing to the growth of the global waterproof bags market currently. Waterproof bags are affordable and, these days, are easily available in different sizes and shapes depending on the device requirement. Also, the light weight and portable nature of these bags is making them more and more popular among the users, thereby driving their market growth globally. Waterproof bags are made up of plastic, rubber, or its derivatives, and these materials are not environment friendly. Also, these materials cannot be decomposed easily, thus creating environmental concerns among the consumers. This factor could hamper growth of the global waterproof bags market over the forecast period.
Its affordable cost and the flexibility that it offers are the two major factors expected to create various growth opportunities for the global waterproof bags market over the forecast period. Growing applications of waterproof bags, such as for canoeing and kayaking, are also making it more popular among consumers. The new versions of waterproof bags, such as Hefty Slider bag, Lavod waterproof bag, and Seattle Sports waterproof bag are marking new uses of these bags. An excellent growth potential is projected for the waterproof bags market in the future, and the market is expected to expand at a modest CAGR over the forecast period. The global waterproof bags market has witnessed significant growth in developed regions until now and, in the coming years, is anticipated to grow at steady pace in the developing nations as well.
The global waterproof bags market is segmented on the basis of materials used, application, and end- use industries. On the basis of materials used, the global waterproof bags is segmented into silicone elastomers, polyurethane, Polyvinylchloride (PVC), rubber, and wax. By application, the global waterproof bags is segmented into packing products, river rafting, laptop bags, school bags, trekking, mobile bags, camera bags, and others. By end-use industry, the global waterproof bags is segmented into marine, defense, packaging, electronics, and others.
By geography, the global waterproof bags market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America accounts for the highest share of the global waterproof bags market, owing to highly grown electronics sector in the region. Europe is the second largest contributor to the growth of the global waterproof bags market, driven by the increased number of travelers and beach crowd in the region. Asia Pacific also accounts for a significant share of the global waterproof bags market due to the developing packaging industry and increase in consumer interest in water sports in the region. Latin America and the Middle East and Africa markets are still at a nascent stage and are anticipated to exhibit a considerable growth potential over the forecast period.
Some of the key players in the global waterproof bags market market are Jinjiang Jiaxing Company, Sealock Outdoor Gear Co. Ltd, Shenzhen Socoole Technology Co. Ltd, 4U Sporting Goods Co., Ltd, Maysky Bags Co. Ltd, Guangzhou JQX Industrial Co., Limited, Huian Mingzhou Light Industry Bags Co., Ltd, Quanzhou Hoosam Bags Co. Ltd, Yiwu Global Bag Co., Ltd, and Ningbo Clover Textile Co. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.