Press Resease

Smart Elevator Market by Solution (New Deployment, Modernization and Maintenance) for Residential, Commercial, Industrial, Institutional and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022

Published Date: 27-Jan-2017 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-866 Status : Published

Global smart elevator market will reach USD 25.20 billion by 2022, growing at a CAGR of 13.4% between 2017 and 2022.

Description

The report covers forecast and analysis for the smart elevator market on a global and regional level. The study provides historic data of 2014-2016 along with a forecast from 2017 to 2022 based on revenue (USD Billion). The study includes drivers and restraints for the smart elevator market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart elevator market on a global level.

This report offers comprehensive coverage on global smart elevator market along with, market trends, drivers, and restraints of the smart elevator market. This report included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the smart elevator market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.

The study provides a decisive view on the smart elevator market by segmenting the market based on the solution, applications, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. By solution, the market is segmented into new deployment, modernization, maintenance. By application, the smart elevator market is segmented into commercial, residential, institutional industrial and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global smart elevator market include Hitachi Ltd, Schindler Holding AG, Honeywell International Inc., Bosch Security Systems, Otis Elevator Corporation, Hyundai Elevator Co. Ltd., Mitsubishi Electric Corporation, KONE Elevators Co. Ltd., ThyssenKrupp, Fujitec and Others

The report segments global smart elevator market as follows:

Global Smart Elevator Market: Solution Segment Analysis

  • New Deployment
  • Modernization
  • Maintenance

Global Smart Elevator Market: Application Segment Analysis

  • Commercial
  • Residential
  • Infrastructure
  • Institutional
  • Industrial

Global Smart Elevator Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  • Chapter 2. Executive Summary
    • 2.1. Global smart elevator market, 2014 - 2022, (USD Billion)
    • 2.2. Smart elevator market: Market snapshot
  • Chapter 3. Global Smart elevator Market – Industry Analysis
    • 3.1. Smart elevator market: Market dynamics
    • 3.2. Market Drivers
      • 3.2.1. Increasing demand for energy efficient solutions
      • 3.2.2. Government mandates regarding using this model
    • 3.3. Restraints
      • 3.3.1. High installation cost of smart elevator
      • 3.3.2. Low awareness about smart elevator
    • 3.4. Opportunity
      • 3.4.1. Technological advancement
      • 3.4.2. Introduction of eco-friendly or green elevators and advanced destination dispatch solutions
    • 3.5. Porter’s Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by solution segment
      • 3.6.2. Market attractiveness analysis by application segment
      • 3.6.3. Market attractiveness analysis by regional segment
  • Chapter 4. Global Smart Elevator Market - Competitive Landscape
    • 4.1. Company market share analysis, 2016 (Subject to data availability)
  • Chapter 5. Global Smart elevator Market –Solution Segment Analysis
    • 5.1. Global smart elevator market revenue share, by solution, 2016 & 2022
    • 5.2. Global smart elevator market by new deployment, 2014-2022(USD Billion)
    • 5.3. Global smart elevator market by modernization, 2014-2022(USD Billion)
    • 5.4. Global smart elevator market by maintenance, 2014-2022(USD Billion)
  • Chapter 6. Global Smart Elevator Market –Application Segment Analysis
    • 6.1. Global smart elevator market revenue share, by application 2016 & 2022
    • 6.2. Global smart elevator market for commercial, 2014-2022(USD Billion)
    • 6.3. Global smart elevator market for residential, 2014-2022(USD Billion)
    • 6.4. Global smart elevator market for institutional,2014– 2022 (USD Billion)
    • 6.5. Global smart elevator market for industrial,2014– 2022 (USD Billion)
    • 6.6. Global smart elevator market for others,2014– 2022 (USD Billion)
  • Chapter 7. Global Smart Elevator Market - Regional Analysis
    • 7.1. Global smart elevator market: Regional overview
      • 7.1.1. Global smart elevator market revenue share, by region, 2016 and 2022
    • 7.2. North America
      • 7.2.1. North America smart elevator market revenue, by solution 2014 – 2022 (USD Billion)
      • 7.2.2. North America smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.2.3.2. U.S. smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
      • 7.3.2. Europe smart elevator market revenue, by application, 2014– 2022 (USD Billion)
      • 7.3.3. U.K.
        • 7.3.3.1. U.K. smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.3.3.2. U.K. smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.3.4. France
        • 7.3.4.1. France smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.3.4.2. France smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.3.5. Germany
        • 7.3.5.1. Germany smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.3.5.2. Germany smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia-Pacific smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
      • 7.4.2. Asia-Pacific smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.4.3. China
        • 7.4.3.1. China smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.4.3.2. China smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.4.4. Japan
        • 7.4.4.1. Japan smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.4.4.2. Japan smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
      • 7.4.5. India
        • 7.4.5.1. India smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.4.5.2. India smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America smart elevator market revenue, by solution, 2014– 2022 (USD Billion)
      • 7.5.2. Latin America smart elevator market revenue, by application, 2014– 2022 (USD Billion)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
        • 7.5.3.2. Brazil smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
    • 7.6. Middle East & Africa
      • 7.6.1. Middle East & Africa smart elevator market revenue, by solution, 2014 – 2022 (USD Billion)
      • 7.6.2. Middle East & Africa smart elevator market revenue, by application, 2014 – 2022 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1. Hitachi Ltd
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. Schindler Holding AG
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Honeywell International Inc.
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Bosch Security Systems
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Otis Elevator Corporation
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent development
    • 8.6. Hyundai Elevator Co. Ltd.
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Mitsubishi Electric Corporation
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. KONE Elevators Co. Ltd.
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. ThyssenKrupp
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. SA Fujitec
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Smart Elevators market. Zion Research has collected and analyzed key data belong to the global Smart Elevators 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 macroeconomic 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 Elevators across the world has 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 validation of findings from secondary research and to understand key trends in the Smart Elevators 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 Elevators 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 cross-checked by an expert panel.

Free Analysis

The smart elevator is the next phase of the vertical transport system that is controlled by advanced hardware and software systems. Elevators are responsible for 8 to 10 percent of the energy consumed in a building, as new, smarter, connected elevators not only reduce wasting time but also save a lot of money. Elevators are mainly used in residential buildings, hotels, hospitals, sports facilities, offices, and airports, so smart technology is likely to be in high demand as efficiency in these various avenues.

The smart elevator market is mainly driven by rising number of buildings for advanced security automation and access control systems, energy efficient solutions, rising spending capabilities for construction and global economic improvement. Increasing spending capabilities of the countries across the world, advantages of smart elevators and rising demand for green transportation solution amongst consumers have boosted the smart elevators market at global level. However, the high installation cost of the elevator is hindering the growth of smart elevator market.

Global-Smart-Elevator-Market

Smart elevator market is segmented by solution and applications. On the basis of the solution, the market is segmented into new deployment, modernization, and maintenance. The elevator modernization segment dominates the global smart elevator market and new deployment is expected to grow by the forecast period due to advanced security automation and access control systems. Applications of the smart elevator are residential, commercial, industrial, institutional and others. Among these applications, the residential segment is expected to hold the largest share of smart elevator market over the forecast period. Due to rising consumer disposable income coupled with increasing rate of migration of people from rural to urban areas. Industrial segment is estimated to emerge as the fastest growing application over the coming years due to increasing demand for energy efficient solutions.

North America has dominated the smart elevator market and well-established infrastructure and early technology adopters in the region. Rising government mandates regarding with the upgrade of existing elevator is anticipated to drive the Europe smart elevator market over the forecast period. Asia Pacific will be expected highest CAGR in coming years due to rise disposable income of consumer in economically emerging countries such as Japan, China, and India. Increasing government mandates pertaining to the upgrade of existing elevator is expected to drive the Europe smart elevator market over the forecast period. Rapid infrastructure development and increasing urbanization in this region are also giving traction to the smart elevator market.

Advance elevator control systems run autonomously in-house, some new systems have remote, cloud-based elevator monitoring solutions such as MAX from ThyssenKrupp. New elevators include voice-activated elevator control and new designs include retractable elevator pit ladders which replace stationary ladders, saving space and expenses during construction.

Key players operating in global smart elevator market are Hitachi Ltd, Schindler Holding AG, Honeywell International Inc., Bosch Security Systems, Otis Elevator Corporation, Hyundai Elevator Co. Ltd., Mitsubishi Electric Corporation, KONE Elevators Co. Ltd., ThyssenKrupp, Fujitec and Others

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