Style and functionality have long been buzzwords in the luggage industry, but thanks to advances in IoT (Internet of things) technology, the latter is now jumping ahead by quantum leaps.

A number of manufacturers, both old and new, are rushing to develop new luggage lines that both look great and take high-tech convenience to the next level. In China's OEM space, Xingan Vastchip Industry Development Co. is one of several makers that also produce under their own brand names.

The eight-year old firm's Showkoo line of hard and soft smart luggage lines sport a range of features, including power banks with USB chargers, Bluetooth trackers, and WiFi hot spot transmitters.

Several of the company's canvas, nylon, and tough ballistic nylon products also meet the European Union's stringent REACH chemical/environmental protection guidelines.

"The development of smart luggage is still in the early stages, but it opens an array of possibilities as mobile electronic devices become increasingly ubiquitous, and travelers insist on taking them wherever they go," says Vastchip rep Sherly Liu at a recent Hong Kong trade fair.

Vastchip's basic higher-end offerings use polyvinyl and/or acrylonitrile butadiene styrene (ABS) to create a hard shell over a rugged aluminum chassis with separate compartments for a laptop computer and a cell phone, a USB charger/port(s), as well as a digital weight scale.

Built-in anti-theft sensors automatically ring if the owner strays more than 10 meters from the luggage. Additional features can be added per customer request.

"Customer feedback over Alibaba and other online retailers are pointing to an explosion in the smart luggage space," says Ms. Liu. "We see the next 16 to 24 months as the golden time to take advantage of the growth potential."

Globally, the luggage market is expected to increase from $31 billion in 2014 to over $43 billion million in 2020, an annualized growth rate of about 5.5%, according to P and S Market Research. P and S analysts cite increasing urbanization, growing interest tourism, and evolving technologies as the central drivers, with demand in the Asia-Pacific region booking the fastest growth.

As such, Vastchip's 140-plus item lineup is really just the tip of the iceberg. Samsonite recently teamed up with Samsung to create a new line of smart luggage that will reportedly be able to relay a bag's location to its owners' smartphone as well as check itself in at the airport. Samsonite is also said to be working on self-propelled luggage that automatically trails its owner at a distance of six inches.

Recent startups are also generating a buzz, including U.S.-based Trunkster and Bluesmart. The latter's (21.5x14x9 inch) Carry-On unit features a built-in global 3G SIM card and GPS tracking.

Andiamo's iQ smart bag has its own Wi-Fi hotspot, a USB battery charger, removable power pack, built-in digital scale, and a remote lock or unlock feature, which works with a mobile app.

Paris-based Delsey's new Pluggage line of smart bags, will reportedly offer a fingerprint ID function that locks and unlocks the suitcase, interior lights and speakers, and a notification app that signals when the bag is loaded onto a plane.

None of the new tech is that cheap, and buyers can expect to pay into the multiple hundreds of dollars per item, depending on the number of installed bells and whistles.

For those looking for more basic functionality, a portable LugLoc or Trakdot system is probably enough to relieve worries about where one's bags might have gone. The app-enabled transceivers stow away inside luggage, and work via GSM cellular network connectivity and Bluetooth. They retail for well under $100.