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Smart Elevator Market -Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Component (Control Systems, Maintenance Systems, Communication Systems), Installation (Low and Mid-rise, High Rise), Application (Residential, Commercial, Institutional), Service (New Installation Services, Modernization Services and Maintenance Services), By Region
Market Report (3 business days) I 2023-09-05 I 188 Pages I TechSci Research
Global Smart Elevator Market is anticipated to grow at a steady pace in the forecast period, 2024-2028, owing to the expanding infrastructure in emerging economies, the rise of smart cities, the construction of buildings using cutting-edge technology, and rising consumer expenditure on homes and office spaces.
The straightforward process of moving between levels will be transformed by intelligent elevators. Passengers first choose the floor they want to travel to before pressing the up or down button. They are then led to the elevator that has the fewest stops to get them where they need to go.
Minimum Waiting Time
Passengers in residential, or business settings, or emergency situations at hospitals are most concerned about waiting times in front of elevators. Access control and destination dispatching technology work together to efficiently regulate traffic flow inside buildings. It decreases waiting time by directing passengers to a specific elevator when they want to go to a specific floor of the building. As a result, shorter wait times are increasing the use of smart elevators across all industries and boosting the market for them.
Increasing Demand for Energy Efficient Elevators to Promote Growth
The transition from conventional to contemporary elevators is mostly due to the growing concerns over energy use. Elevator gear-integrated machines use more energy, which raises operational expenses. Since new permanent magnet synchronous (PMS) gearless traction machines use up to 50% less energy than traditional geared machines, their use is expanding in this situation. Additionally, because PMS machines are smaller, lighter, and gearbox-free, they conserve material and do not need gear oil. The energy consumption of high-end elevators is further reduced by up to 50% thanks to a regenerative drive mechanism that generates energy to feed back into the building's power supply. Due to the aforementioned factors, it is predicted that the market for smart elevators would expand, supported by growing consumer and construction industry awareness of energy use.
Technical advancements such as sensors, AI, and IoT to drive the smart elevators market.
Elevators are now smart and secure thanks to the inclusion of sensors and internet connectivity elements in recent years. The installation of various sensors in elevators enables the analysis, control, and management of numerous operations, including floor traffic management and system communication. IoT and AI technologies have also improved elevator intelligence. Elevators may now connect to the cloud, where the data they collect is processed and saved, thanks to these technologies. Because the data can be exchanged to analyze performance and anticipate maintenance concerns immediately without requiring human or technical intervention, IoT is employed in elevators for preventative maintenance. Based on data gathered from daily use, AI helps building management and operators anticipate problems and regulate traffic flow through the equipment lifetime. Over the course of the forecast period, the global smart elevator market is expected to be driven by these advantages related to AI, IoT, and sensors.
Market Segmentation
The Global Smart Elevator Market is divided into Component, Installation, Application, Service, Region and Competitive Landscape. Based on Component, the market is divided into Control Systems, Maintenance Systems, Communication Systems. Based on Installation, the market is segmented into Low and Mid-rise, High Rise. Based on Application, the market is segmented into Residential, Commercial, Institutional. Based on Service, the market is divided into New Installation Services, Modernization Services and Maintenance Services.
Market Players
Major market players in the Global Smart Elevator Market are Hitachi, Ltd., TK Elevator Corporation, Schindler Group, Otis Worldwide Corporation, KONE Corporation, Mitsubishi Electric Corporation, Fujitec Co., Ltd., Hyundai Elevator Co., Ltd., Honeywell International, Inc., Toshiba Corporation.
Report Scope:
In this report, the Global Smart Elevator Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Smart Elevator Market, By Component:
o Control Systems
o Maintenance Systems
o Communication Systems
- Smart Elevator Market, By Installation:
o Low and Mid-rise
o High Rise
- Smart Elevator Market, By Application:
o Residential
o Commercial
o Institutional
- Smart Elevator Market, By Service:
o New Installation Services
o Modernization Services and Maintenance Services
- Smart Elevator Market, By Region:
o North America
- United States
- Canada
- Mexico
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
o Europe
- Germany
- United Kingdom
- France
- Italy
- Poland
- Spain
o South America
- Brazil
- Argentina
o Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iraq
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Smart Elevator Market.
Available Customizations:
Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on Global Smart Elevator Market
4. Executive Summary
5. Voice of Customers
6. Global Smart Elevator Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Component (Control Systems, Maintenance Systems, Communication Systems)
6.2.2. By Installation (Low and Mid-rise, High Rise)
6.2.3. By Application (Residential, Commercial, Institutional)
6.2.4. By Service (New Installation Services, Modernization Services and Maintenance Services)
6.2.5. By Region
6.3. By Company (2022)
6.4. Market Map
7. North America Smart Elevator Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Component
7.2.2. By Installation
7.2.3. By Application
7.2.4. By Service
7.2.5. By Country
7.3. North America: Country Analysis
7.3.1. United States Smart Elevator Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Component
7.3.1.2.2. By Installation
7.3.1.2.3. By Application
7.3.1.2.4. By Service
7.3.2. Canada Smart Elevator Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Component
7.3.2.2.2. By Installation
7.3.2.2.3. By Application
7.3.2.2.4. By Service
7.3.3. Mexico Smart Elevator Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Component
7.3.3.2.2. By Installation
7.3.3.2.3. By Application
7.3.3.2.4. By Service
8. Asia-Pacific Smart Elevator Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Component
8.2.2. By Installation
8.2.3. By Application
8.2.4. By Service
8.2.5. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Smart Elevator Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Component
8.3.1.2.2. By Installation
8.3.1.2.3. By Application
8.3.1.2.4. By Service
8.3.2. India Smart Elevator Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Component
8.3.2.2.2. By Installation
8.3.2.2.3. By Application
8.3.2.2.4. By Service
8.3.3. Japan Smart Elevator Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Component
8.3.3.2.2. By Installation
8.3.3.2.3. By Application
8.3.3.2.4. By Service
8.3.4. South Korea Smart Elevator Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Component
8.3.4.2.2. By Installation
8.3.4.2.3. By Application
8.3.4.2.4. By Service
8.3.5. Australia Smart Elevator Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Component
8.3.5.2.2. By Installation
8.3.5.2.3. By Application
8.3.5.2.4. By Service
8.3.6. Singapore Smart Elevator Market Outlook
8.3.6.1. Market Size & Forecast
8.3.6.1.1. By Value
8.3.6.2. Market Share & Forecast
8.3.6.2.1. By Component
8.3.6.2.2. By Installation
8.3.6.2.3. By Application
8.3.6.2.4. By Service
8.3.7. Malaysia Smart Elevator Market Outlook
8.3.7.1. Market Size & Forecast
8.3.7.1.1. By Value
8.3.7.2. Market Share & Forecast
8.3.7.2.1. By Component
8.3.7.2.2. By Installation
8.3.7.2.3. By Application
8.3.7.2.4. By Service
9. Europe Smart Elevator Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Component
9.2.2. By Installation
9.2.3. By Application
9.2.4. By Service
9.2.5. By Country
9.3. Europe: Country Analysis
9.3.1. Germany Smart Elevator Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Component
9.3.1.2.2. By Installation
9.3.1.2.3. By Application
9.3.1.2.4. By Service
9.3.2. United Kingdom Smart Elevator Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Component
9.3.2.2.2. By Installation
9.3.2.2.3. By Application
9.3.2.2.4. By Service
9.3.3. France Smart Elevator Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Component
9.3.3.2.2. By Installation
9.3.3.2.3. By Application
9.3.3.2.4. By Service
9.3.4. Spain Smart Elevator Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Value
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Component
9.3.4.2.2. By Installation
9.3.4.2.3. By Application
9.3.4.2.4. By Service
9.3.5. Poland Smart Elevator Market Outlook
9.3.5.1. Market Size & Forecast
9.3.5.1.1. By Value
9.3.5.2. Market Share & Forecast
9.3.5.2.1. By Component
9.3.5.2.2. By Installation
9.3.5.2.3. By Application
9.3.5.2.4. By Service
9.3.6. Italy Smart Elevator Market Outlook
9.3.6.1. Market Size & Forecast
9.3.6.1.1. By Value
9.3.6.2. Market Share & Forecast
9.3.6.2.1. By Component
9.3.6.2.2. By Installation
9.3.6.2.3. By Application
9.3.6.2.4. By Service
10. South America Smart Elevator Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Component
10.2.2. By Installation
10.2.3. By Application
10.2.4. By Service
10.2.5. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Smart Elevator Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Component
10.3.1.2.2. By Installation
10.3.1.2.3. By Application
10.3.1.2.4. By Service
10.3.2. Argentina Smart Elevator Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Component
10.3.2.2.2. By Installation
10.3.2.2.3. By Application
10.3.2.2.4. By Service
11. Middle East & Africa Smart Elevator Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Component
11.2.2. By Installation
11.2.3. By Application
11.2.4. By Service
11.2.5. By Country
11.3. Middle East & Africa: Country Analysis
11.3.1. Saudi Arabia Smart Elevator Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Component
11.3.1.2.2. By Installation
11.3.1.2.3. By Application
11.3.1.2.4. By Service
11.3.2. South Africa Smart Elevator Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Component
11.3.2.2.2. By Installation
11.3.2.2.3. By Application
11.3.2.2.4. By Service
11.3.3. UAE Smart Elevator Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Component
11.3.3.2.2. By Installation
11.3.3.2.3. By Application
11.3.3.2.4. By Service
11.3.4. Iraq Smart Elevator Market Outlook
11.3.4.1. Market Size & Forecast
11.3.4.1.1. By Value
11.3.4.2. Market Share & Forecast
11.3.4.2.1. By Component
11.3.4.2.2. By Installation
11.3.4.2.3. By Application
11.3.4.2.4. By Service
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Company Profiles
14.1. Hitachi, Ltd.
14.1.1. Business Overview
14.1.2. Key Revenue and Financials
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Product/Services
14.2. TK Elevator Corporation
14.2.1. Business Overview
14.2.2. Key Revenue and Financials
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Product/Services
14.3. Schindler Group
14.3.1. Business Overview
14.3.2. Key Revenue and Financials
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Product/Services
14.4. Otis Worldwide Corporation
14.4.1. Business Overview
14.4.2. Key Revenue and Financials
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Product/Services
14.5. KONE Corporation
14.5.1. Business Overview
14.5.2. Key Revenue and Financials
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Product/Services
14.6. Mitsubishi Electric Corporation
14.6.1. Business Overview
14.6.2. Key Revenue and Financials
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Product/Services
14.7. Fujitec Co., Ltd.
14.7.1. Business Overview
14.7.2. Key Revenue and Financials
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Product/Services
14.8. Hyundai Elevator Co., Ltd.
14.8.1. Business Overview
14.8.2. Key Revenue and Financials
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Product/Services
14.9. Honeywell International, Inc.
14.9.1. Business Overview
14.9.2. Key Revenue and Financials
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Product/Services
14.10. Toshiba Corporation
14.10.1. Business Overview
14.10.2. Key Revenue and Financials
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Product/Services
15. Strategic Recommendations
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