Smart Elevator Automation System Market, By Service (Installation Service, Repair & Maintenance Service, Modernization Service), By Component (Card Reader, Biometric, Touch Screen and Keypad, Security and Control System, Sensors, Motors and Automation Sys

Smart Elevator Automation System Market, By Service (Installation Service, Repair & Maintenance Service, Modernization Service), By Component (Card Reader, Biometric, Touch Screen and Keypad, Security and Control System, Sensors, Motors and Automation System, Building Management System), By End User (Residential Sector, Commercial Sector, Hotel, Other), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Smart elevators are now being used nowadays in public buildings like hotels, residential homes, offices, malls, theaters, hospitals, sports venues and even airports. These are basically designed in order to minimize total energy consumption and better manage passenger traffic within a given building. These elevators help to increase the overall productivity of a public building and also help to keep visitors safe. For example, in a large hotel or museum, smart elevators will be able to reduce the number of elevator users and make the platform more safe and convenient for everyone.
In addition, there is no need to make any major structural changes in order to use smart elevators since they do not require any major overhaul to the structure of the building. This means that the total cost of installing a smart elevator is likely to be much lower than the total amount of money required for an existing elevator installation. The savings from the initial investment made by smart elevators will then be passed on to the customers by way of reduced operating costs. Therefore, smart elevators offer a cost effective solution to a public building's overall maintenance and operating costs.
Market Dynamics:
Launch of new products is expected to propel growth of the global smart elevator automation system market. For instance, in July 2021, The Elevator and Escalator Division of Mitsubishi Electric US launched ELEMOTION, a modernization package to help building owners maintain the quality of existing elevator systems with targeted component updates.
Major players operating in the global smart elevator automation system market are focused on adopting M&A strategies to enhance their market share. For instance, in October 2021, 3Phase Elevator merged with Advanced Elevator, a company that provides similar services in Washington, D.C., Maryland.
Key features of the study:
This report provides in-depth analysis of the global smart elevator automation system market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global smart elevator automation system market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Fujitec Co. Ltd., Honeywell International Inc., Mitsubishi Electric Corporation, Tyco International Limited, Hitachi Ltd., Schindler Group, Kone Corporation, ThyssenKrupp Elevator AG, and Otis Elevator Company
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global smart elevator automation system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart elevator automation system market
Detail Segmentation
Global Smart Elevator Automation System Market, By service:
Installation Service
Repair & Maintenance Service
Modernization Service
Global Smart Elevator Automation System Market, By Component:
Card Reader
Biometric
Touch Screen and Keypad
Security and Control System
Sensors, Motors and Automation System
Building Management System
Global Smart Elevator Automation System Market, By End User:
Residential Sector
Commercial Sector
Hotel
Other
Global Smart Elevator Automation System Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Company Profiles
Fujitec Co. Ltd.*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Honeywell International Inc.
Mitsubishi Electric Corporation
Tyco International Limited
Hitachi Ltd.
Schindler Group
Kone Corporation
ThyssenKrupp Elevator AG
Otis Elevator Company
*Browse all the market data tables and figures on “Global Smart Elevator Automation System Market- Forecast to 2028”