Elevator Intelligent Light Curtain Market Forecasts to 2030 – Global Analysis By Type (Ordinary Light Curtain, Safety Class 2 Light Curtain and Safety Class 4 Light Curtain), Technology, Application, End User and By Geography

Elevator Intelligent Light Curtain Market Forecasts to 2030 – Global Analysis By Type (Ordinary Light Curtain, Safety Class 2 Light Curtain and Safety Class 4 Light Curtain), Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Elevator Intelligent Light Curtain Market is accounted for $243.76 million in 2023 and is expected to reach $359.33 million by 2030 growing at a CAGR of 5.7% during the forecast period. The term ""Elevator Intelligent Light Curtain"" alludes to the integration of intelligent light curtain systems with elevator technology. Opto-electronic devices called lift light curtains are able to identify those who are in the way of a lift door, they may hold the doors open as someone gets in or out of the lift. This may lessen the chance of harm while elevator operation. Two components make up light curtains: a transmitter and a receiver. The receiver receives infrared rays from the emitter. The machine stops if there is an interruption in one or more of the beams. This integration may improve user experience, optimise energy use, or increase safety, among other things.

According to the IBM Corporation report, implementing advanced technology, including AI, Internet of Things (IoT), and others helped reduce energy usage by 40% and 10%-30% maintenance costs of elevators.

Market Dynamics:

Driver:

Growing urbanization & high-rise building construction

The growing urbanization trend and the construction of high-rise buildings create a strong market demand for elevator technologies, with intelligent light curtains playing a crucial role in meeting safety, efficiency, and user experience requirements in modern vertical transportation systems. Its features such as faster door closing times and more accurate obstacle detection in turn, helps in optimizing the throughput of elevators in busy urban environments. Additionally, its touchless controls, predictive maintenance, and other features that contribute to a more convenient and user-friendly experience accelerates the market demand.

Restraint:

High initial costs

The high initial costs associated with elevator intelligent light curtains poses a challenge for their widespread adoption. High initial costs can deter building owners and developers, especially those working on projects with tight budgets, from investing in intelligent light curtains. Also, if potential customers perceive intelligent light curtains as expensive or beyond their budget, it may create a barrier to adoption. Further, it lacks financial incentives & regulatory requirements and hinders the overall growth of the market.

Opportunity:

Retrofitting existing elevators

Retrofitting elevators with intelligent light curtains enhances safety by adding an extra layer of protection. Also, retrofitting is often a more cost-effective solution than completely replacing an elevator system. It also minimizes disruptions to daily operations, improves the overall sustainability and provides energy-saving features. By addressing these factors, retrofitting existing elevators with intelligent light curtain systems contributes to the growth of the market, providing a practical and efficient solution for improving elevator safety in a wide range of buildings.

Threat:

Technological complexities

Advanced elevator intelligent light curtain systems always require intricate installation procedures. It requires specialized knowledge for maintenance and troubleshooting. Also, the development and implementation of sophisticated technologies often come with higher costs. Further, often integrating with other technologies such as access control, building automation, and security systems can lead to interoperability issues. All these elements can hinder the adoption of intelligent light curtain solutions.

Covid-19 Impact

The covid pandemic significantly impacted the elevator intelligent light curtain market. The pandemic has caused disruptions in global supply chains, affecting the manufacturing and distribution of various products. The construction industry, a significant driver for elevator installations, faced disruptions due to lockdowns, social distancing measures, and economic uncertainties. Projects were delayed or put on hold, affecting the demand for new elevators and related technologies. The shift to remote work and reduced building occupancy rates in some regions may have influenced decisions related to facility upgrades and maintenance, potentially impacting the market for elevator technologies.

The edge computing and artificial intelligence (AI) segment is expected to be the largest during the forecast period

The edge computing and artificial intelligence (AI) segment is estimated to have a lucrative growth. It enables real-time processing, predictive maintenance, data security and privacy. The integration of edge computing and AI in the elevator intelligent light curtain market also improves safety, efficiency, energy optimization, and enhanced user experiences. These technologies contribute to the evolution of smart and connected building ecosystems.

The emergency stop segment is expected to have the highest CAGR during the forecast period

The emergency stop segment is anticipated to witness the highest CAGR growth during the forecast period, due to its quick response time, reduced liability, enhanced passenger safety and compliance with safety standards. Intelligent light curtains are integrated with the elevator control system to trigger an emergency stop when an obstacle is detected. In the case of an emergency stop, they quickly sense if there is an obstruction, preventing the doors from closing on objects or individuals. Their critical safety features during emergency situations are fuelling the segment growth.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to growing smart city projects. The growing population in China and India is expected to drive the technology to manage urban space demand. The Asia-Pacific region has a diverse market with both local and international players in the elevator and safety technology sectors. Further, increasing government initiatives in developing smart commercial places, shopping malls, and localities to reduce energy consumption is expected to drive the global market growth.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to urbanization, technological advancements and ongoing construction activities. It is also home for major players such as WECO Elevator Products, CEDES and ReeR. North America has stringent safety regulations and standards for elevator systems. The adoption of intelligent light curtains is influenced by the need to comply with these regulations and enhance overall safety in buildings.

Key players in the market

Some of the key players profiled in the Elevator Intelligent Light Curtain Market include Omron Corporation, Schneider Electric SE, Pepperl+Fuchs, Keyence Corporation, Ferndale Electronics Inc., Motion29, CEDES AG, VEGA, Huegli Tech AG, Adams GateKeeper, Mayser GmbH & Co. KG, Telco Systems, General Electric, Dow Jones, The 3M Company, Asahi Kasei, Sumitomo Corporation, TOYOBO, Mitsubishi Rayon and Toray Industries.

Key Developments:

In November 2023, CEDES, a global leader in elevator safety light curtains and optoelectronic sensors, and relayr, announced the launch of their joint solution for the elevator industry - combining CEDES’ renowned light curtain with relayr’s Industrial IoT expertise.

In June 2022, VEGA security division launches 3D sensor kit. 3D SENSOR is a reopening device to detect approaching people in the landing zone. It is able to recognize moving people as well as stationary objects in front of the car. It uses radar technology to reduce false trigger and avoid un-necessary doors reopening.

Types Covered:
• Ordinary Light Curtain
• Safety Class 2 Light Curtain
• Safety Class 4 Light Curtain

Technologies Covered:
• Laser Technology
• Infrared (IR) Technology
• Ultrasonic Technology
• Radio Frequency Identification (RFID)
• Machine Vision Systems
• Edge Computing & Artificial Intelligence (AI)
• Wireless Communication
• Microcontroller Technology

Applications Covered:
• Occupancy Monitoring
• Door Safety
• Floor Levelling
• Emergency Stop
• Accessibility
• Fault Detection
• Customized Configurations
• Energy Efficiency
• Other Applications

End Users Covered:
• Commercial Buildings
• Residential Buildings
• Hotels & Hospitality
• Healthcare Facilities
• Industrial & Manufacturing Facilities
• Educational Institutions
• Public Transportation Hubs
• Government Buildings
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements