SMART UMBRELLA MARKET ANALYSIS

Market Challenges And Opportunities

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 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.