Smart Umbrella Market Analysis (2019-2027)

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2.  SMART UMBRELLA MARKET ANALYSIS (2019-2027) • Smart Umbrella Market, by Component (Hardware and Software), by Product Type (Stick Umbrella and Foldable Umbrella), by Umbrella Handles (C-Handle, Hook, Round, Shaped, and Straight), by Material (Canopy is further sub-segmented into (Nylon, Microfiber, Polyester, Polypropylene, and Polyurethane), Shaft is further sub-segmented into (Aluminum, Fiberglass, Plastic, Steel, and Wood), Handle is further sub-segmented into (Aluminum, Bamboo, Plastic, Rubber, and Wood)), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Smart umbrella is an umbrella which has built-in sensors that collects pressure, temperature, humidity, and light data in real-time. The smart umbrella predicts the weather forecast such as raining or it is going to rain. Moreover, it gives warning to the user about weather forecast by sending push-messages on the mobile phone with the help of internet of things (IoT). Furthermore, if the user forgets his umbrella in place such as office, store or restaurant the product sends notification via Bluetooth on the mobile phone.

4. Market Dynamics • Rising disposable income and increasing interest of consumer to buy technological advance product such as smart umbrella is driving the growth of the market. For instance, in August 2016, a Saudi-Palestinian company developed a smart umbrella 'Kafya'. This product is specially created for pilgrims to use during the summer days. Moreover, this product comes with multiple features such as navigation system, solar-powered fan, and a flashlight. • Ability of smart umbrella to monitor the weather condition and predict when to carry umbrella helps user during uncertain weather conditions. Furthermore, the capability of smart umbrella to keep updated it’s user through push messages on the cell phone offers ease of convenience. Furthermore, this product comes with electric opening and closing function and also alerts user through push messages about when to carry umbrella. All these factors are creating demand for smart umbrellas in the

5. end-use market. This in turn is driving the smart umbrella market across the global market place. For instance, in March 2018, Taiwan-based HAZ Digital Company introduced its smart umbrella called HAZUmbrella. • In December 2019, China-based umbrella manufacturing company OK Umbrella Co. Ltd, launched its smart umbrella called Amrzzi at Shenzhen G&H Show. Moreover, this product comes with smart chip handle and it could connect to the mobile phone application through Bluetooth and alert customer about weather forecast.

6. Global Smart Umbrella Market: Regional Insights • On the basis of region, the global smart umbrella market is segmented into North America, Asia Pacific, Latin America, Europe, Middle East and Africa. Among all the regions, the North America region is expected to hold dominant position in the market, owing to high demand for umbrella from buyers. According to the Coherent Market Insights’ Analysis, 33 million umbrellas are sold every year in the United States. • Furthermore, Asia Pacific is expected to be the fastest growing region in the global smart umbrella market over the forecast period. This is owing to the presence of fast growing economies such as China and Japan. The fast growing economies in the region offer growth opportunities for smart umbrella manufacturers. For instance, in February 2017, South Korean startup Opus One Inc. developed a smart umbrella using Internet of Things (IoT) technology. Moreover, this product uses a Bluetooth 4.1 connection to pair with a smartphone.

7. Global Smart Umbrella Market: Competitive Landscape • Prominent players operating in the global smart umbrella market are Davek Umbrellas., HAZ Digital Inc., Kisha Umbrella., Lotosblume, OK Umbrella Co. Ltd, OPUS One Inc., ShadeCraft, TARAbrella (Indiegogo), Weatherman, and wezzoo (oombrella). Majority of these prominent players are adopting strategies such as mergers and acquisitions, product launches, and partnership and collaboration, in order to expand their product portfolio in the global smart umbrella market. For instance, in December 2019, New York-based Weatherman Umbrella entered into partnership with the American Junior Golf Association (AJGA). The primary objective is to fulfil golfer’s needs.

8. Global Smart Umbrella Market: Taxonomy • The global smart umbrella market is segmented on the basis of application, component, product type, and region. • By Component: • Hardware • Software • By Product Type: • Stick Umbrella • Foldable Umbrella

9. By Material • Canopy • Nylon • Microfiber • Polyester • Polypropylene • Polyurethane • By Umbrella Handles: • C-Handle • Hook • Round • Shaped • Straight

10. By Region: • North America • Europe • Asia Pacific • Latin America • Middle East and Africa • Shaft • Aluminum • Fiberglass • Plastic • Steel • Wood • Handle • Aluminum • Bamboo • Plastic • Rubber • Wood

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