SMART UMBRELLA MARKET ANALYSIS
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.
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