Smart Elevator Market- Global Industry Analysis and Forecast (2022-2027) – by Solution, End-Use, and Region

Smart Elevator Market is expected to grow at a CAGR of 5.00% during the forecast period and market is expected to reach US$ 13.28 Bn. by 2027. The global Smart Elevator market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Smart Elevator report also provides  trends by market segments, technology, and investment with a competitive landscape. Smart Elevator Market To know about the Research Methodology :- Request Free Sample Report

Definition of Smart Elevator:

New-age automated security system controls are used in Smart Elevator systems. Modern digital control systems, such as card-based systems, biometric systems, touch screens & keypads, and automation systems, such as sensors & controllers, motors & drives, and operating panels, are all used in smart elevator systems.

Smart Elevator Market Dynamics:

In the coming years, the production of goods that use renewable energy sources is expected to open up new growth opportunities. The widespread use of the technology in the residential, manufacturing, and commercial sectors is expected to accelerate growth of the market. Rapid infrastructure growth in developing economies, as well as government requirements for the installation of modern elevators in new buildings, is also important factors. Product demand may be boosted by consumer disposable income, especially in countries like India, China, and Brazil, as well as the increasing need for faster vertical transportation. Because of better regulation of elevator traffic and the growing demand for improved energy efficiency, the industry is poised for growth. The most significant development in elevator control technology in recent years is destination selection control (DSC), which requires passengers to reach their destination floor on input terminals in the lift lobby. Each passenger is then allocated to a particular lift that will transport him or her to the desired destination floor in the shortest possible time with the fewest possible intermediate stops. DSC improves passenger handling capacity by up to 30% compared to traditional elevator control systems, decreases passenger travel times to their destination, and reduces crowding in lift lobbies.

Smart Elevator Market Segmentation:

Based on the solution, the smart elevator market is segmented into control systems, access control systems, and services. The Control system is subsegmented into security control systems and elevator control systems. An access control system is subsegmented into maintenance systems and communication systems. The service segment is subsegmented into support & maintenance, new deployments, and modernization. Elevator control systems are in high demand, which will help the industry grow. Because of the enhanced protection and management provided by these systems in crowded buildings, the control systems segment is expected to grow through 2026. In 2021, the segment had a market share of more than 40 %. These systems provide quick communication parameters, advanced access control, and video surveillance, all of which contribute to the growth of the smart elevator market by ensuring high passenger comfort and elevator security.

Smart Elevator Market Regional Insights:

In 2021, the APAC smart elevator market held the largest share. APAC is expected to maintain its dominance over the forecast era, as developing countries such as Indonesia, Vietnam, and Bangladesh improve their living standards, leading to increased urbanization and the development of smart buildings. Furthermore, the presence of the world's most populated countries, such as India and China, makes APAC a key market for smart elevators, as the region's rapid urbanization and infrastructure will open up new business opportunities for companies. Newly installed smart elevators comply with the local and international safety standards in the region. ThyssenKrupp Elevator AG, Schindler Holding AG, and KONE Corp., are among the companies contributing to the growth of the Asia-Pacific smart elevators industry. To remain competitive in the industry, market players are implementing various strategies such as new product launches, mergers and acquisitions, partnerships with the government, and technological advances. The objective of the report is to present a comprehensive analysis of the Global Smart Elevator Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Smart Elevator Market dynamics, structure by analyzing the market segments and project the global Smart Elevator market size. Clear representation of competitive analysis of key players By Solution, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Elevator Market make the report investor’s guide.

Smart Elevator Market Scope: Inquire before buying

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Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 9.91 Bn.
Forecast Period 2022 to 2027 CAGR: 5.00% Market Size in 2027: US $ 13.28 Bn.
Segments Covered: by Solution • Control Systems o Security Control System o Elevator Control System • Access Control System o Maintenance Systems o Communication Systems • Services o Support & Maintenance o New Deployments o Modernization
by End-Use • Commercial • Industrial • Residential • Others

Smart Elevator Market, by Region

• North America • Europe • Asia Pacific • Middle East & Africa • South America

Smart Elevator Market Key Players

Hitachi • Thyssenkrupp AG • Otis Elevator Company. • KONE ELEVATOR INDIA PRIVATE LIMITED • Schindler • Hitachi Ltd. • HYUNDAIELEVATOR CO., LTD. • Toshiba India Pvt. Ltd. • Mitsubishi Electric Corporation • FUJITEC CO., LTD. • Motion Control Engineering Inc • Thames Valley Controls • EITO&GLOBAL INC. • ESCON ELEVATORS PVT LTD • EITA Elevator (M) Sdn. Bhd • Express Lifts Ltd. • Electra Elevators • Other Key Players

Frequently Asked Questions:

1. Which region has the largest share in Global Smart Elevator Market? Ans: Asia Pacific region holds the highest share in 2021. 2. What is the growth rate of Global Smart Elevator Market? Ans: The Global Smart Elevator Market is growing at a CAGR of 5.00% during forecasting period 2022-2027. 3. What is scope of the Global Smart Elevator market report? Ans: Global Smart Elevator Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Smart Elevator market? Ans: The important key players in the Global Smart Elevator Market are – , Hitachi, Thyssenkrupp AG, Otis Elevator Company., KONE ELEVATOR INDIA PRIVATE LIMITED, Schindler, Hitachi Ltd., HYUNDAIELEVATOR CO., LTD., Toshiba India Pvt. Ltd., Mitsubishi Electric Corporation, FUJITEC CO., LTD., Motion Control Engineering Inc, Thames Valley Controls, EITO&GLOBAL INC., ESCON ELEVATORS PVT LTD, EITA Elevator (M) Sdn. Bhd, Express Lifts Ltd., Electra Elevators, and Other Key Players 5. What is the study period of this market? Ans: The Global Smart Elevator Market is studied from 2021 to 2027.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Smart Elevator Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Smart Elevator Market 3.4. Geographical Snapshot of the Smart Elevator Market, By Manufacturer share 4. Global Smart Elevator Market Overview, 2021-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Smart Elevator Market 5. Supply Side and Demand Side Indicators 6. Global Smart Elevator Market Analysis and Forecast, 2021-2027 6.1. Global Smart Elevator Market Size & Y-o-Y Growth Analysis. 7. Global Smart Elevator Market Analysis and Forecasts, 2021-2027 7.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 7.1.1. Control Systems 7.1.1.1 Security Control System 7.1.1.2 Elevator Control System 7.1.2. Access Control System 7.1.2.1 Maintenance Systems 7.1.2.2 Communication Systems 7.1.3. Services 7.1.3.1 Support & Maintenance 7.1.3.2 New Deployments 7.1.3.3 Modernization 7.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 7.2.1. Commercial 7.2.2. Industrial 7.2.3. Residential 7.2.4. Others 8. Global Smart Elevator Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Smart Elevator Market Analysis and Forecasts, 2021-2027 9.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 9.1.1. Control Systems 7.1.1.3 Security Control System 7.1.1.4 Elevator Control System 9.1.2. Access Control System 7.1.2.3 Maintenance Systems 7.1.2.4 Communication Systems 9.1.3. Services 7.1.3.4 Support & Maintenance 7.1.3.5 New Deployments 7.1.3.6 Modernization 9.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 9.2.1. Commercial 9.2.2. Industrial 9.2.3. Residential 9.2.4. Others 10. North America Smart Elevator Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Smart Elevator Market Analysis and Forecasts, 2021-2027 11.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 11.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 12. Canada Smart Elevator Market Analysis and Forecasts, 2021-2027 12.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 12.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 13. Mexico Smart Elevator Market Analysis and Forecasts, 2021-2027 13.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 13.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 14. Europe Smart Elevator Market Analysis and Forecasts, 2021-2027 14.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 14.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 15. Europe Smart Elevator Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Smart Elevator Market Analysis and Forecasts, 2021-2027 16.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 16.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 17. France Smart Elevator Market Analysis and Forecasts, 2021-2027 17.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 17.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 18. Germany Smart Elevator Market Analysis and Forecasts, 2021-2027 18.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 18.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 19. Italy Smart Elevator Market Analysis and Forecasts, 2021-2027 19.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 19.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 20. Spain Smart Elevator Market Analysis and Forecasts, 2021-2027 20.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 20.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 21. Sweden Smart Elevator Market Analysis and Forecasts, 2021-2027 21.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 21.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 22. CIS Countries Smart Elevator Market Analysis and Forecasts, 2021-2027 22.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 22.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 23. Rest of Europe Smart Elevator Market Analysis and Forecasts, 2021-2027 23.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 23.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 24. Asia Pacific Smart Elevator Market Analysis and Forecasts, 2021-2027 24.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 24.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 25. Asia Pacific Smart Elevator Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Smart Elevator Market Analysis and Forecasts, 2021-2027 26.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 26.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 27. India Smart Elevator Market Analysis and Forecasts, 2021-2027 27.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 27.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 28. Japan Smart Elevator Market Analysis and Forecasts, 2021-2027 28.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 28.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 29. South Korea Smart Elevator Market Analysis and Forecasts, 2021-2027 29.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 29.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 30. Australia Smart Elevator Market Analysis and Forecasts, 2021-2027 30.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 30.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 31. ASEAN Smart Elevator Market Analysis and Forecasts, 2021-2027 31.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 31.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 32. Rest of Asia Pacific Smart Elevator Market Analysis and Forecasts, 2021-2027 32.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 32.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 33. Middle East Africa Smart Elevator Market Analysis and Forecasts, 2021-2027 33.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 33.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 34. Middle East Africa Smart Elevator Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Smart Elevator Market Analysis and Forecasts, 2021-2027 35.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 35.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 36. GCC Countries Smart Elevator Market Analysis and Forecasts, 2021-2027 36.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 36.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 37. Egypt Smart Elevator Market Analysis and Forecasts, 2021-2027 37.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 37.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 38. Nigeria Smart Elevator Market Analysis and Forecasts, 2021-2027 38.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 38.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 39. Rest of ME&A Smart Elevator Market Analysis and Forecasts, 2021-2027 39.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 39.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 40. South America Smart Elevator Market Analysis and Forecasts, 2021-2027 40.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 40.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 41. South America Smart Elevator Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Smart Elevator Market Analysis and Forecasts, 2021-2027 42.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 42.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 43. Argentina Smart Elevator Market Analysis and Forecasts, 2021-2027 43.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 43.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 44. Rest of South America Smart Elevator Market Analysis and Forecasts, 2021-2027 44.1. Market Size (Value) Estimates & Forecast By Solution, 2021-2027 44.2. Market Size (Value) Estimates & Forecast By End-Use, 2021-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Smart Elevator Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Hitachi Ltd. 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. thyssenkrupp AG 45.3.3. Otis Elevator Company. 45.3.4. KONE ELEVATOR INDIA PRIVATE LIMITED 45.3.5. Schindler 45.3.6. HYUNDAIELEVATOR CO., LTD. 45.3.7. Toshiba India Pvt. Ltd 45.3.8. Mitsubishi Electric Corporation 45.3.9. FUJITEC CO., LTD 45.3.10. Motion Control Engineering Inc 45.3.11. Thames Valley Controls 45.3.12. EITO&GLOBAL INC 45.3.13. ESCON ELEVATORS PVT LTD 45.3.14. EITA Elevator (M) Sdn. Bhd 45.3.15. Express Lifts Ltd 45.3.16. Electra Elevators 45.3.17. Other Key Players 46. Primary Key Insights

About This Report

Report ID 94905
Category Electronics
Published Date April 2021
Updated Date April 2022
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