Smart Elevator Market 2020: Global Size, Trends, Potential Growth And Key Factors Forecast To 2026

The global  smart elevators market  size is projected to reach USD 39.78 billion by 2026. The increasing use of concepts such as the IoT and AI will have a positive impact on the growth of the market in the coming years. According to a published report, titled “Smart Elevator Market Size, Share & Industry Analysis, By Setup (New Deployment, Modernization and Maintenance), By Installation (Low & Mid Rise and High Rise), By Carriage (Passenger and Freight), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2019-2026,” the market was worth USD 16.23 billion in 2018 and will exhibit a CAGR of 12.0% during the forecast period, 2019-2026.

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Smart elevators possess the ability to operate in an efficient manner, with regard to the total energy as well as costs associated with them. The properties of smart elevators such as low energy consumption and faster operations will have a positive impact on the growth of the market in the coming years. The presence of several large scale companies, coupled with their efforts to develop newer products, will contribute to the growing demand for the product across the world. The increasing use of concepts such as the IoT and AI have opened up a huge potential for the companies operating in this market.

Some of the leading companies that are operating in the global smart elevators market are:

  • KONE CORPORATION (Headquarter: Finland)
  • Otis Elevator Company (Headquarter: USA)
  • Schindler (Headquarter: Switzerland)
  • thyssenkrupp Elevator Technology (Headquarter: – Germany)
  • Hitachi Ltd. (Headquarter: – Japan)
  • Mitsubishi Electric Corporation (Headquarter: –  Japan)
  • Bosch Security Systems (Headquarter: – United States)
  • Fujitec Co. Ltd. (Headquarter: – Hikone)
  • Toshiba Elevator and Building Systems Corporation (Headquarter: – Japan)

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North America Holds Highest Smart Elevators Market Share; Presence of Several Large Scale Companies Will Aid Growth

The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America currently holds a dominant market share, owing to the presence of several large scale companies in several countries across this region. As of 2018, the market in North America was worth USD 5.76 billion and this value is projected to increase further in the coming years. besides North America, the market in Europe and Asia Pacific will witness considerable growth driven by the increasing efforts to produce cost-effective products.

Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Consolidated SWOT Analysis of Key Players
  • Global Smart Elevators Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Setup (Value)
      • New Deployment
      • Modernization
      • Maintenance
    • Market Sizing Estimations and Forecasts – By Installation (Value)
      • Low & Mid Rise
      • High Rise
    • Market Sizing Estimations and Forecasts – By Carriage (Value)
      • Passenger
      • Freight
    • Market Sizing Estimations and Forecasts – By Application (Value)
      • Residential
      • Commercial
      • Industrial
    • Market Analysis, Insights and Forecast – By Geography (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America


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