Market Research Report
Smart Elevator Market Report: Trends, Forecast and Competitive Analysis
|Published by||Lucintel||Product code||942719|
|Published||Content info||200 Pages
Delivery time: 1-2 business days
|Smart Elevator Market Report: Trends, Forecast and Competitive Analysis|
|Published: June 1, 2020||Content info: 200 Pages||
The future of the global smart elevator market looks attractive with opportunities in the residential, commercial, institutional, and automated vehicle storage & retrieval system industries. The global smart elevator market is expected to decline in 2020 due to global economic recession led by COVID-19. However market will witness recovery in the year 2021 and it is expected to reach an estimated $31.6 billion by 2025 with a CAGR of 14%-16% from 2020 to 2025. The major drivers for this market are growth in high rise residential and commercial buildings, rapid urbanization, and rising adoption of IoT technology in smart elevator.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of highly energy efficient elevator systems and greater utilization of IoT to ensure better performance. ThyssenKrupp, OTIS Elevator, KONE, Schindler Group, Hitachi, Hyundai Elevator, Toshiba Elevators, Mitsubishi Electric, and Fujitec are among the major smart elevator manufacturers.
A total of 82 figures / charts and 66 tables are provided in this 200-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the smart elevator market report, please buy our report today.
The study includes trends and forecast for the global smart elevator market by component, service, by end use industry, and region as follows:
By Component [$M shipment analysis from 2014 to 2025]:
By End Use Industry [$M shipment analysis from 2014 to 2025]:
By Service [$M shipment analysis from 2014 to 2025]:
By Region [$M shipment analysis for 2014 - 2025]:
Lucintel forecasts that control system will remain the largest component type and it is the expected to witness the highest growth over the forecast period due to the increasing demand in advanced security automation and access control systems.
Within smart elevator market, commercial will remain the largest end use industry and it is expected to witness the highest growth over the forecast period due to growth in commercial construction, such as retail shops, malls, warehouses, and hospitals and increasing demand for high rise commercial buildings.
North America will remain the largest region due to high adoption of advance and IoT based elevator systems. APAC is expected to witness the highest growth over the forecast period supported by increasing construction & infrastructure activities in emerging countries, such as China and India.
Features of the Global Smart Elevator Market
This report answers following 11 key questions