2023 Smart Elevator Market: Exploring the Size & Share, Emerging Trends and Growth Factors with Forecast 2027
The Smart Elevator Market size report considers the micro and macro aspect of all the market forces, which help the companies to adopt the different tactics to propel their market growth and make the important strategic decision of their crucial investment planning. These factors include size, share, growth, market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Smart Elevator market size was USD 18.75 billion in 2019 and is projected to reach USD 38.27 billion by 2027, exhibiting a CAGR of 9.1 % during the forecast period.
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Top Smart Elevator Market Size Manufacturers covered in the Market Report include:
- KONE CORPORATION (Espoo, Finland)
- Otis Elevator Company (Connecticut, USA)
- Schindler (Ebikon, Switzerland)
- ThyssenKrupp Elevator Technology (Essen, Germany)
- Hitachi Ltd. (Ibaraki, Japan)
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Bosch Security Systems (Grasbrunn, Germany)
- Fujitec Co. Ltd. (Hikone, Japan)
- Toshiba Elevator and Building Systems Corporation (Tokyo, Japan)
- HYUNDAI ELEVATOR CO., LTD. (Gyeonggi-do, South Korea)
- Johnson Controls Inc. (Cork, Ireland)
- Motion Control Engineering (Alaska, United States)
Recent Key Industry Development:
– Otis launched its newly developed Smart Gen3™ elevator which enriched smart elevator product portfolio of the company. Otis will target prominent vendor operating in construction sector of China which are looking for procurement of elevators for their new infrastructure projects. The company has strategically focused this particular market due to the increased proclivity of construction sector in China towards green development. The product will operate using cloud based IoT technology and will operational ease to elevator occupants.
– Hyundai Elevators and KT finalized and signed a memorandum of understanding (MoU) to expedite their collective efforts for Elevator Digital Transformation(DX) Expansion business. The memorandum of understanding was duly signed to bolster their development of elevator portfolio by integration of AI technology, automatic driving robots and voice recognition in its elevators. The development of these elevators will dictate growth of Hyundai Elevators in smart elevator market.
– Hyundai Elevators has ventured into an collaboration with Woowa Brothers for design and development of elevators and delivery robot synchronization. These elevators and delivery robots will find its applications in wide range of industries such as commercial facilities, hotels, and residential apartments.
– Kone Elevator India which is a fully owned subsidiary organization of KONE corporation based in Finland has unveiled digitally connected elevators to provide a novel product as a smart elevator. The product can attract numerous customers in a lucrative and second biggest elevator market in the globe. The product provides enhanced built in connectivity and provides better management of person flow through elevators.
Highlights of the Report:
- Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research.
- The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Smart Elevator Market Report Scope [2027]
Report Title: 2023 Smart Elevator Market: Exploring the Size & Share, Emerging Trends and Growth Factors with Forecast 2027
Smart Elevator Market CAGR: 9.1%
Report Coverage: Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Segments Covered:
By Setup
- New Deployment
- Modernization
- Maintenance
By Installation
- Low & Mid Rise
- High-Rise
By Carriage Type
- Passenger
- Freight
By Application
- Residential
- Commercial
- Industrial
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Report Inclusions:
Market Overview: It includes a product overview and scope of the global Smart Elevator Industry. It offers a summary of the segmental analysis provided in the report. Here, product, application, and regional segments are highlighted. This chapter also includes market estimations related to revenue and sales.
Competition: This section sheds light on the competitive situations and trends, gives an analysis of manufacturers and provides figures related to average price by the player, revenue and revenue shares of individual market players, sales, and sales shares of individual players.
Region-wise Sales Analysis: The report in this section offers market numbers, and an analysis of revenue, sales, and market shares of individual regions. In addition, it provides sales and sales growth rate, pricing structure, revenue, and some other estimations for each regional market that has been studied.
Company Profiles: This section of the report offers in-depth insightful information about the financial and strategic business data of some of the leading companies operating in the global Smart Elevator Industry landscape. In addition, product specifications, portfolios, regional footprint, revenue shares, and several other details are also covered in this chapter of the report.
FREQUENTLY ASKED QUESTIONS:
- How much was the global Smart Elevator Industry worth in 2019?
- Who are the top players actively operating across the market?
- How much will the global market be worth by 2027?
- What are the key market drivers?
- Which application segment is the leading across the globe?
- At what compound annual growth rate (CAGR) is the global market projected to grow in the forecast period?
Major Points from Table of Contents
Global Smart Elevator Market Research Report 2027, by Manufacturers, Regions, Types and Applications
- Introduction
- Objective of the Study
- Definition of the Market
- Market Scope
- Market Segment by Type, Application and Marketing Channel
- Major Regions Covered (North America, Europe, Asia Pacific, Mid East and Africa)
- Years Considered for the Study
- Currency Considered (U.S. Dollar)
- Key Findings of the Study
- Market Dynamics
- Driving Factors for this Market
- Factors Challenging the Market
- Opportunities of the Global Smart Elevator Industry (Regions, Growing/Emerging Downstream Market Analysis)
- Technological and Market Developments in the Smart Elevator Industry
- Industry News by Region
- Regulatory Scenario by Region/Country
- Market Investment Scenario Strategic Recommendations Analysis
- Value Chain of the Smart Elevator Market
- Value Chain Status
- Upstream Raw Material Analysis
- Midstream Major Company Analysis (by Manufacturing Base, by Product Type)
- Distributors/Traders
- Downstream Major Customer Analysis (by Region)
- Global Smart Elevator Industry -Segmentation by Type
- Global Smart Elevator Industry -Segmentation by Application
- Global Smart Elevator Industry -Segmentation by Marketing Channel
- Competitive Intelligence Company Profiles
- Global Smart Elevator Market -Segmentation by Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
- Future Forecast of the Global Smart Elevator Industry
- Future Forecast of the Global Smart Elevator Industry from 2023 Segment by Region
- Global Speaker Production and Growth Rate Forecast by Type (2027)
- Global Speaker Consumption and Growth Rate Forecast by Application (2027)
- Appendix
- Methodology
- Research Data Source
Continued….
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