Smart Umbrella Market Size (2023 - 2030)

Global Smart Umbrella Market is estimated to be worth USD 97.02 Million in 2022 and is projected to reach a value of USD 160.57 Million by 2030, growing at a CAGR of 6.47% during the forecast period 2023-2030.

Modern versions of classic umbrellas, known as "smart umbrellas," are equipped with technology for added functions and benefits. Because of its numerous capabilities, which encompass real-time weather updates, users of these innovative umbrellas are prepared for unanticipated weather changes. A lost umbrella can be easily found thanks to some models' inclusion of GPS tracking. In addition, the automated opening and closing function increases convenience by removing the necessity for human operation on the part of consumers. Safety is also a primary priority, with LED illumination added to enhance visibility in poor light. Some smart umbrellas possess the ability to detect weather patterns and anticipate when they should be carried to ensure users are always prepared for inclement weather. On top of that, smart umbrellas elevate the aesthetics of future smart cities in addition to serving a useful purpose. Certain models come equipped with wind sensors that instantly close the umbrella in the event of strong gusts, thereby limiting damage and prioritizing user safety.

Global Smart Umbrella Market Drivers:

The presence of built-in weather forecasts and anti-lost features is fueling the growth of the Global Smart Umbrella Market.

Smart umbrellas have a built-in weather forecast feature, which comprises three modes of weather indicator lights to directly alert individuals whether they need to grab their umbrella or leave it behind. Furthermore, some smart umbrellas come with an anti-lost tracker, ensuring users never misplace them. These umbrellas are also lightweight and very sturdy owing to their carbon fiber construction. With smart umbrellas, people are constantly ready for erratic weather, making every rainy day hassle-free. Therefore, this factor propels the demand for smart umbrellas.

The increasing disposable income of individuals is another factor contributing to the growth of the Global Smart Umbrella Market.

The Global Smart Umbrella Market is growing owing to the rising disposable income of individuals, particularly in emerging economies. Customers with greater spending power favor umbrellas that provide them with higher quality, a wide range of cutting-edge features, and enhanced protection from rain and bad weather. Customers like smart umbrellas that have sleek designs, seamless connectivity, GPS tracking functionality, and wind-sensing capabilities. For manufacturers and suppliers that operate in the sector, this growth is further creating profitable prospects.

Global Smart Umbrella Market Challenges:

The high cost and battery issues are the main obstacles the Global Smart Umbrella Market is encountering. When contrasted with conventional umbrellas, smart umbrellas are generally pricier, making them an unwise choice for price-conscious individuals. Moreover, batteries power the sophisticated functions of smart umbrellas. Particularly during prolonged periods of rain or when access to charging alternatives is restricted, users can be concerned about the battery life and the necessity for regular recharge. Thus, these hindrances curtail the progress of the Global Smart Umbrella Market.

Global Smart Umbrella Market Opportunities:

Market expansion strategies present a lucrative opportunity in the Global Smart Umbrella Market. The demand for smart umbrellas is augmenting owing to their advantages, including real-time weather updates, GPS tracking, and wind-sensing capabilities. Businesses specializing in the production of smart umbrellas can attain considerable benefits from this opportunity by broadening their product offerings to nations with the most rainfall, encompassing Colombia, Costa Rica, and Indonesia. By pursuing this expansion, companies can broaden their customer base and drive a notable increase in their overall revenue.

COVID-19 Impact on the Global Smart Umbrella Market:

The Global Smart Umbrella Market has been considerably influenced by the COVID-19 outbreak. As a result of rigorous lockdowns, travel restrictions, and social distancing measures, the demand for smart umbrellas waned. Disruptions in the supply chains highly affected the expedited production and distribution of smart umbrellas. Numerous individuals encountered financial uncertainty, thereby diminishing spending on non-essential items. These factors restricted the growth of the market. Despite these hindrances, the Global Smart Umbrella Market is envisaged to rebound alongside the global recovery from the pandemic.

Global Smart Umbrella Market Recent Developments:

In April 2022, Country Road and Blunt partnered for a limited-edition umbrella, featuring a button-operated canopy, in-built spinning mechanism, and patented tips for safety and is wind tunnel tested to withstand Category 1 Hurricane conditions (115km/h).

SMART UMBRELLA MARKET REPORT COVERAGE:

Global Smart Umbrella Market Segmentation: By Connectivity

• Bluetooth

• Zigbee

• Z-Wave

• Wi-Fi

Based on Connectivity, the Bluetooth segment occupied the highest market share in the year 2022. The growth can be ascribed to Bluetooth's extensive use in smartphones and other mobile devices, permitting various individuals to utilize Bluetooth-enabled smart umbrellas. This simple pairing procedure allows for swift data transfer between smartphones and smart umbrellas. Furthermore, smart umbrella batteries last longer owing to Bluetooth Low Energy (BLE) technology's energy-saving benefits. Additionally, Bluetooth's short-range connectivity makes proximity-based functions possible, including automated alerts when the smartphone and umbrella are separated, improving user convenience.

Global Smart Umbrella Market Segmentation: By Type

• Two-Fold Umbrella

• Three-Fold Umbrella

• Five-Fold Umbrella

Based on the Type, the Two-Fold Umbrella segment occupied the highest market share in the year 2022. The growth can be ascribed to the two-fold umbrellas' ease of use, portability, and compact design, making them well-suited for daily usage as well as travel. They come in stylish designs that appeal to fashion-conscious individuals. When contrasted with more expensive three-fold or five-fold umbrellas, their cost also makes them more widely available to consumers. Due to their extensive distribution and availability, which makes them accessible to customers, two-fold umbrellas have a larger market share. 

Global Smart Umbrella Market Segmentation: By Distribution Channel 

• Offline Channels

• Online Channels

Based on the Distribution Channel, the Online Channels segment occupied the highest market share in the year 2022. The growth can be ascribed to the rising acceptance of e-commerce and online retailing platforms by several individuals. E-commerce platforms present easy convenience, authenticity, the best prices, and first-rate customer service for smart umbrellas. Individuals have the option to choose their ideal smart umbrellas from the variety available on online marketplaces. To help people make informed decisions regarding the finest smart umbrellas, e-commerce websites also provide users with honest product reviews and feedback.

Global Smart Umbrella Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Based on the Region, North America occupied the highest share of the Global Smart Umbrella Market in the year 2022. Because of its reputation for adopting new technology early, North America has witnessed a rise in the use of smart umbrellas there. The high disposable income of its residents also likely made them more willing to invest in premium and cutting-edge products like smart umbrellas. The popularity of smart umbrellas with weather updates and GPS tracking for individuals managing unpredictable weather in cities can also be ascribed to the prominence of urban centers and the habit of commuting in North America. Furthermore, North America houses several prominent market players, encompassing Madeblunt USA, Inc., Davek Accessories, Inc., and SwissTek.

Asia-Pacific is anticipated to expand at the quickest rate over the forecast period 2023-2030 owing to the region's growing population of tech-savvy individuals, rapid urbanization, rising disposable incomes of individuals, and the strong presence of significant market players, encompassing HAZ Digital Inc., Nevon Solutions Pvt. Ltd., and OPUS One Inc.

Global Smart Umbrella Market Key Players:

1. HAZ Digital Inc. (Taiwan)

2. Madeblunt USA, Inc. (United States)

3. Davek Accessories, Inc. (United States)

4. Always With Me Technologies Ltd. (United Kingdom)

5. Popy Umbrella Mart (India)

6. Ok Umbrella (Shenzhen) Co., Ltd. (China)

7. Nevon Solutions Pvt. Ltd. (India)

8. Knowledge Base International Holdings Ltd. (Palestine)

9. OPUS One Inc. (South Korea)

10. SwissTek (United States)