San Francisco, 19
November 2018: Global smart elevatormarket was estimated to be USD 10.50 billion in 2014
and is expected to witness significant growth on account of its increasing
adoption in emerging economies of Asia Pacific, Middle East and Latin America.
Safety, reliability and longer durability is expected to drive growth.
Increasing requirement for faster vertical
mode of transportation owing to the increasing number of skyscrapers along with
growing purchasing power of consumers in Brazil, China, and India is expected
to fuel growth. Rising need for energy efficient systems along with controlled
transportation traffic are other key parameters fueling demand. Favorable
government regulations along with expeditious infrastructure development in
emerging countries are also expected to result in development of the industry
in the near future. The market is anticipated to reach USD 30.55 billion by
2022.
Access
Research Report of Smart Elevator Market@ www.grandviewresearch.com/industry-analysis/smart-elevator-market
Technological innovations resulting in
several benefits including digital control security are also likely to
contribute to growth. Better traffic management, cost efficient power
consumption, and reduced waiting time for passengers are also expected to boost
the market at a significant rate.
Demand for smart
elevators in new deployment solutions accounted for over 40% of the global
market revenue in 2014. Increasing government spending on infrastructure
development, particularly in Asia Pacific, is expected to augment growth over
the forecast period.
Elevator automation including efficient
transportation and time-energy saving deployment, is expected to witness
significant gains over the forecast period at a CAGR of 15.6%. Elevator access
security & control contributed to account for more than 35% of the total
share in 2014 and is expected to lose share to the automation segment over the
forecast period.
Maintenance accounted for less than 6% of
the market share in 2014. However, it is anticipated to witness significant
growth in coming years, particularly in North America and Europe owing to the
existence of installed systems and high prevalence of MRO activities in the
region. Stagnant economic growth of these regions is anticipated to fuel
maintenance activities of smart elevators.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Smart elevators industry for residential
applications was valued at USD 2.29 billion in 2014 and is estimated to
increase in the near future on account of rising disposable income and
increasing demand for energy efficient alternatives. Consumer preference
towards energy-efficient solutions for industrial applications is expected to
propel growth in the near future at a CAGR of 15.6% over the forecast period.
Rapid industrialization, particularly in Asia Pacific and Latin America,
coupled with growing inclination of manufacturers towards automation is
expected to result is high demand for the technology.
In 2014, North America led the global
market accounting for 42.3% of the total market revenue. Asia Pacific is
expected to witness substantial growth at a CAGR of 19.0% over the projected
period on account of rising urbanization, technological advancement, high
purchasing power, and infrastructure development in the region. Supportive
government initiatives to upgrade existing systems is anticipated to fuel the
growth of the Europe industry in the near future.
Key players include Bosch Security Systems,
Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis
Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The
industry is characterized by enhanced service facility and efficient
distribution channels for manufacturers to gain an advantage over their
competitors.
Access Press Release of
Smart Elevator Market@ www.grandviewresearch.com/press-release/global-smart-elevator-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment