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Smart And Connected Elevators And Elevators Control System Market - Global Industry Analysis

Smart And Connected Elevators And Elevators Control System Market For Residential, Commercial And Institutional: Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028

Published Date: 12-Aug-2021 Category: Semiconductor & Electronics Report Format : PDF Pages: 150 Report Code: ZMR-1988 Status : Published

The global Smart And Connected Elevators market accounted for USD 23.31 Billion in 2020 and is expected to reach USD 47.50 Billion by 2028, growing at a CAGR of around 8.8% between 2021 and 2028.

Description

Market Overview    

The global Smart And Connected Elevators market accounted for USD 23.31 Billion in 2020 and is expected to reach USD 47.50 Billion by 2028, growing at a CAGR of around 8.8% between 2021 and 2028.       

Growing requirements for smart solutions by the firms to guard their property and safeguard it against external or internal threats will fuel the smart and connected elevators market. Apart from this, the smart and connected elevators market is probably going to realize traction over the approaching years with the merchandise fulfilling the escalating consumer requirement for power-efficient solutions. The worldwide requirement for energy conservation has resulted in additional demand for smart and connected elevators, thereby not only creating value for the purchasers but also contributing immensely towards the profitability of the smart and connected elevators market. In addition to the present, the seamless emergence of IoT and connected sensors and their rampant use in modern elevators have created a profitable growth map for the smart and connected elevators market.

Global Smart Connected Elevators Elevators Control System Market Size

COVID-19 Impact Analysis:

The global Smart And Connected Elevators market has witnessed a slight decline during the pandemic as the restrictions imposed by various nations to contain COVID had stopped the production resulting in disruption across the whole supply chain. COVID-19 has had a shocking impact on the residential, commercial and industrial sectors. On the development side, the construction of new buildings has been stopped since lockdowns were forced worldwide. However, the global markets are slowly opening to their full potential, and theirs a surge in demand. The market would remain lucrative in the upcoming year.  The decrease in the global Smart And Connected Elevators market size in 2020 is estimated based on the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.   

Growth Factors

The increasing migration of a large population base from rural areas toward cities has consequently surged the need for infrastructure development, such as constructing high-rise buildings, to cater to the accommodation needs. Modernization of traditional building structures in countries such as the U.S., the UK, Canada, and France has contributed majorly to the growth of the smart elevator market. Moreover, expanding building infrastructure across developing economies especially in the Asia Pacific has escalated the need for comfortable, secure, efficient, and quick vertical transportation.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview

Based on the type the market is segmented into residential, commercial and institutional. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.

 Smart or connected elevators are increasingly being used in buildings such as residences, arenas, hospitals, sports facilities, hotels, offices and airports among others. These are designed to minimize overall energy consumption and manage passenger traffic efficiently within a building. 

Global Smart Connected Elevators Elevators Control System Market Share

Region Analysis Preview

Regionally, North America has been leading the worldwide smart and connected elevators market and is anticipated to continue on the dominant position within the years to return. The presence of a well-established infrastructure facility and high rate of acceptance of the latest technology is that the main factor behind the dominance of the North American smart and connected elevators market. The high number of market players being headquartered in North America is another significant factor that's supporting the expansion of this regional smart and connected elevators market.

Global Smart Connected Elevators Elevators Control System Market Regional Analysis

Key Market Players & Competitive Landscape

The major players operating in the Smart And Connected Elevators market are such ThyssenKrupp AG, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi Ltd., Hyundai Elevator Co. Ltd. 

The global Smart And Connected Elevators market is segmented as follows:   

By Application

  • Residential
  • Commercial
  • Institutional

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Smart And Connected Elevators Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Smart And Connected Elevators Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Residential
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Commercial
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Institutional
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Smart And Connected Elevators Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. Market Revenue, By Application, 2016 – 2028
      • 7.2.4. Canada
        • 7.2.4.1. Canada Market Revenue, By Application, 2016 – 2028
      • 7.2.5. Mexico
        • 7.2.5.1. Mexico Market Revenue, By Application, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 7.3.3. Germany
        • 7.3.3.1. Germany Market Revenue, By Application, 2016 – 2028
      • 7.3.4. France
        • 7.3.4.1. France Market Revenue, By Application, 2016 – 2028
      • 7.3.5. U.K.
        • 7.3.5.1. U.K. Market Revenue, By Application, 2016 – 2028
      • 7.3.6. Italy
        • 7.3.6.1. Italy Market Revenue, By Application, 2016 – 2028
      • 7.3.7. Spain
        • 7.3.7.1. Spain Market Revenue, By Application, 2016 – 2028
      • 7.3.8. Rest of Europe
        • 7.3.8.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 7.4.3. China
        • 7.4.3.1. China Market Revenue, By Application, 2016 – 2028
      • 7.4.4. Japan
        • 7.4.4.1. Japan Market Revenue, By Application, 2016 – 2028
      • 7.4.5. India
        • 7.4.5.1. India Market Revenue, By Application, 2016 – 2028
      • 7.4.6. South Korea
        • 7.4.6.1. South Korea Market Revenue, By Application, 2016 – 2028
      • 7.4.7. South-East Asia
        • 7.4.7.1. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 7.4.8. Rest of Asia Pacific
        • 7.4.8.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Market Revenue, By Application, 2016 – 2028
      • 7.5.4. Argentina
        • 7.5.4.1. Argentina Market Revenue, By Application, 2016 – 2028
      • 7.5.5. Rest of Latin America
        • 7.5.5.1. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.3. GCC Countries
        • 7.6.3.1. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 7.6.4. South Africa
        • 7.6.4.1. South Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.5. Rest of Middle-East Africa
        • 7.6.5.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 8 Smart And Connected Elevators Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Application Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Smart And Connected Elevators Market: Company Market Share, 2019
      • 9.1.2. Global Smart And Connected Elevators Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 9.1.3. Global Smart And Connected Elevators Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Smart And Connected Elevators Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. ThyssenKrupp AG
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfolio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. OTIS Elevator Company
    • 10.3. Kone Corporation
    • 10.5. Schindler Group
    • 10.6. Hitachi Ltd.
    • 10.7. Hyundai Elevator Co. Ltd.
    • 10.8. Company 8
    • 10.9. Company 9
    • 10.10. Company 10
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical User Type Change
  • Chapter No. 12 Research Methodology
    • 12.1. Research Methodology
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Application
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Smart And Connected Elevators Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 8. Global Smart And Connected Elevators Market for Residential, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Smart And Connected Elevators Market for Residential, By Country, 2020 & 2028
FIG NO. 10. Global Smart And Connected Elevators Market for Commercial, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Smart And Connected Elevators Market for Commercial, By Country, 2020 & 2028
FIG NO. 12. Global Smart And Connected Elevators Market for Institutional, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Smart And Connected Elevators Market for Institutional, By Country, 2020 & 2028
FIG NO. 14. Global Smart And Connected Elevators Market Revenue Share, By Region, 2020 & 2028
FIG NO. 15. North America Smart And Connected Elevators Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 16. Porter’s Five Forces Analysis for Global Smart And Connected Elevators Market
FIG NO. 17. PEST Analysis for Global Smart And Connected Elevators Market
FIG NO. 18. Pricing Analysis for Global Smart And Connected Elevators Market
FIG NO. 19. Value Chain Analysis for Global Smart And Connected Elevators Market
FIG NO. 20. Company Share Analysis, 2019
FIG NO. 21. Radar Determinant Chart, 2019
FIG NO. 22. Company Strategic Developments – Heat Map Analysis
FIG NO. 23. Murata Manufacturing Co. Ltd. Business Segment Revenue Share, 2020 (%)
FIG NO. 24. Murata Manufacturing Co. Ltd. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 25. Market Channels
FIG NO. 26. Marketing Channel Development Trend
FIG NO. 27. Growth in World Gross Product, 2008-2018
FIG NO. 28. Research Methodology – Detailed View
FIG NO. 29. Research Methodology
 


List of Tables 

TABLE NO. 1. Global Smart And Connected Elevators Market: Snapshot
TABLE NO. 2. Quarterly Smart And Connected Elevators Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Smart And Connected Elevators Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Smart And Connected Elevators Market for Residential, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Smart And Connected Elevators Market for Commercial, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Smart And Connected Elevators Market for  Institutional, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. G6obal Smart And Connected Elevators Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. North America Smart And Connected Elevators Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 11. North America Smart And Connected Elevators Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 12. U.S. Smart And Connected Elevators Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 13. Canada Smart And Connected Elevators Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 14. Mexico Smart And Connected Elevators Market Revenue, By Application, 2016 – 2028 (USD Billion) 
TABLE NO. 15. Drivers for the Smart And Connected Elevators Market: Impact Analysis
TABLE NO. 16. Restraints for the Smart And Connected Elevators Market: Impact Analysis
TABLE NO. 17. Major Buyers of Smart And Connected Elevators  
TABLE NO. 18. Distributors/Traders List of Smart And Connected Elevators 
TABLE NO. . 19: Global Smart And Connected Elevators Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 20. Global Smart And Connected Elevators Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
  
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Smart and Connected Elevators and Elevators Control System market. Zion Research has collected and analyzed key data belong to the global Smart and Connected Elevators and Elevators Control System market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macro economic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Smart and Connected Elevators and Elevators Control System across the world have been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Smart and Connected Elevators and Elevators Control System industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Smart and Connected Elevators and Elevators Control System market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then crosschecked by an expert panel.

Free Analysis

The concept of smart and connected elevators has been developed mainly to cuts down on wait times, ride times, and unnecessary stops. When compared with traditional elevators, smart elevators move people to and from their desired floors, also computerized and gather more information. These are efficient in its operation and helps save time considerably. These systems proactively calculate the number of people going on each floor and accordingly send cars. The whole idea of smart and connected elevators has been designed to minimize overall energy consumption and manage passenger traffic within a building. This can be implemented in end user industries like hotels, residences, arenas, hospitals, sports facilities, offices and airports among others

Increasing consumer demand for safe & energy efficient technologies along with modernization of conventional elevators owing to urbanization are driving the smart and connected elevators and elevators control system market, In order to do cost cutting construction companies will opt for automated solutions which in turn will increase the demand for these systems. The growing economy is also driving force and hence demands smart and connected elevators and elevator control system will increase in near future. These smart and connected elevators designed with automation technology and helps reduce waiting time by efficiently managing traffic. Several other technologies have been embedded in this system are biometrics, destination access and dispatching control systems, digital security control system etc.

Global-Smart-and-Connected-Elevators-and-Elevator-Control-System-Market.

Smart and connected elevators and elevators control system market has been segmented on the basis of application and regions. Application segment includes residential, commercial and institutional. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. Asia Pacific dominates smart and connected elevators market owing to increasing number of business parks and residential projects. China and India are the two leading countries are the most prospective countries for smart and connected elevators market. In India and China availability of land and growing industrialization will increase the demand for these systems. Considering North America and Europe which are comparatively developed markets and about to reach saturation phase in near future. Many companies are expanding their business in order to serve the growing demand for smart and connected elevators and considering its prospects.

Thyssenkrupp AG, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi Ltd., Hyundai Elevator Co.Ltd., Toshiba Elevators and Building Systems Corporation, Mitshubishi Electric Corporation, Fujitec Co., Ltd., Motion Control Engineering, Inc., Thames Valley Controls, Eito&Global Inc. , are some of the leading key players in smart and connected elevators and elevator control system  market. Launching of new products, joint ventures and partnerships are the strategies followed by the organizations for the growth of the market. Thyssenkrupp AG has recently developed an elevator monitoring solution MAX. It’s a cloud based application which will provide improved service with increased efficiency while alerting building maintenance staff before breakdowns. Rush hour surges can be anticipated in large buildings and skyscrapers. Even Otis elevators have developed smart elevators which will anticipate who you are which floor you want to go. This will also connect lights and air conditioning units of office.


Frequently Asked Questions

The global Smart And Connected Elevators market was valued at USD 23.31 Billion in 2020.

The global Smart And Connected Elevators market is expected to reach USD 47.50 Billion by 2028, growing at a CAGR of 8.8% between 2021 to 2028.

Urbanization and increased expenditure on construction projects has driven the smart and connected elevators and elevators control systems market. The incorporation of the latest technologies namely personal occupant requirement terminal (PORT) and dispatch destination has substantially increased the demand for this market.

North America was the most dominant market in due to increasing. North America is followed by Europe and Asia-Pacific.

The major players operating in the Smart And Connected Elevators market are such ThyssenKrupp AG, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi Ltd., Hyundai Elevator Co. Ltd.

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