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PUBLISHER: IMARC | PRODUCT CODE: 1702183
PUBLISHER: IMARC | PRODUCT CODE: 1702183
Smart Elevator Market Report by Solution (Control Systems, Access Control System, Services), Application (Residential, Commercial, Industrial, Institutional, and Others), and Region 2025-2033
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PAGES: 138 Pages
DELIVERY TIME: 2-3 business days
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The global smart elevator market size reached USD 30.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 60.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.55% during 2025-2033. The market is experiencing steady growth driven by rapid urbanization and population growth, increasing focus on sustainability and energy efficiency, significant technological advancements and innovation, growing urban mobility challenges, and increasing aging population and accessibility requirements.
Smart elevators are technologically advanced systems that allow automated vertical transportation of passengers and goods from one floor to another within a building. They consist of new-age digital security system controls, such as destination dispatching and access control systems, biometrics, and touch screens. They aid in eliminating problems, such as breakdowns, slow mobility, and frequent maintenance, and improving the operational efficiency, reliability, performance, aesthetics, and safety of the elevator while reducing energy costs and electromagnetic noise. As a result, smart elevators find extensive applications across the residential, commercial, institutional, and industrial sectors.
Smart Elevator Market Trends:
The increasing demand for energy-efficient solutions due to rising concerns about energy consumption across the globe is creating a positive outlook for the market. Smart elevators have improved controls, hardware, software, and other components, such as alternating current (AC) motors, low-heat light-emitting diode (LED) lighting solutions, and touch screens, which save energy and are more efficient. In line with this, the widespread adoption of new permanent magnet synchronous (PMS) gearless traction machines that utilize less energy than conventional geared machines and are lighter and compact is favoring the market growth. Additionally, the increasing demand for efficient mobility systems due to the growing high-rise buildings, supported by the expanding working population, is propelling the market growth. Apart from this, the integration of the Internet of Things (IoT) and artificial intelligence (AI) in smart elevators to diagnose problems from a remote location, provide emergency responses, and enhance safety are providing an impetus to the market growth. Other factors, including escalating demand for modern amenities and the implementation of various government initiatives promoting smart city projects, are anticipated to drive the market.
Key Market Segmentation:
Breakup by Solution:
- Control Systems
- Security Control System
- Elevator Control System
- Access Control System
- Maintenance Systems
- Communication Systems
- Services
- Support and Maintenance
- New Deployments
- Modernization
Breakup by Application:
- Residential
- Commercial
- Industrial
- Institutional
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bosch Service Solutions GmbH, Hyundai Elevator Co. Ltd., KONE Elevator India Private Limited (Kone Oyj), Mitsubishi Electric Corporation, Otis Worldwide Corporation, Schindler Holding Ltd., Thames Valley Controls Ltd, TK Elevator, and Toshiba Elevators and Building Systems Corporation (Toshiba Corporation).
Key Questions Answered in This Report
- 1.What was the size of the smart elevator market in 2024?
- 2.What is the expected growth rate of the global smart elevator market during 2025-2033?
- 3.What has been the impact of COVID-19 on the global smart elevator market?
- 4.What are the key factors driving the global smart elevator market?
- 5.What is the breakup of the global smart elevator market based on the solution?
- 6.What is the breakup of the global smart elevator market based on the application?
- 7.What are the key regions in the global smart elevator market?
- 8.Who are the key players/companies in the global smart elevator market?
Product Code: SR112025A6074
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Smart Elevator Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Solution
- 6.1 Control Systems
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Security Control System
- 6.1.2.2 Elevator Control System
- 6.1.3 Market Forecast
- 6.2 Access Control System
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Maintenance Systems
- 6.2.2.2 Communication Systems
- 6.2.3 Market Forecast
- 6.3 Services
- 6.3.1 Market Trends
- 6.3.2 Key Segments
- 6.3.2.1 Support and Maintenance
- 6.3.2.2 New Deployments
- 6.3.2.3 Modernization
- 6.3.3 Market Forecast
7 Market Breakup by Application
- 7.1 Residential
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Commercial
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Industrial
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Institutional
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Bosch Service Solutions GmbH
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 Hyundai Elevator Co. Ltd.
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.3 KONE Elevator India Private Limited (Kone Oyj)
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 Mitsubishi Electric Corporation
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Otis Worldwide Corporation
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.6 Schindler Holding Ltd.
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Thames Valley Controls Ltd
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 TK Elevator
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 Toshiba Elevators and Building Systems Corporation (Toshiba Corporation)
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.1 Bosch Service Solutions GmbH
Product Code: SR112025A6074
List of Figures
- Figure 1: Global: Smart Elevator Market: Major Drivers and Challenges
- Figure 2: Global: Smart Elevator Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Smart Elevator Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Smart Elevator Market: Breakup by Solution (in %), 2024
- Figure 5: Global: Smart Elevator Market: Breakup by Application (in %), 2024
- Figure 6: Global: Smart Elevator Market: Breakup by Region (in %), 2024
- Figure 7: Global: Smart Elevator (Control Systems) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 8: Global: Smart Elevator (Control Systems) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 9: Global: Smart Elevator (Access Control System) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 10: Global: Smart Elevator (Access Control System) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 11: Global: Smart Elevator (Services) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 12: Global: Smart Elevator (Services) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 13: Global: Smart Elevator (Residential) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 14: Global: Smart Elevator (Residential) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 15: Global: Smart Elevator (Commercial) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 16: Global: Smart Elevator (Commercial) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 17: Global: Smart Elevator (Industrial) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 18: Global: Smart Elevator (Industrial) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 19: Global: Smart Elevator (Institutional) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 20: Global: Smart Elevator (Institutional) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 21: Global: Smart Elevator (Other Applications) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 22: Global: Smart Elevator (Other Applications) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 23: North America: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 24: North America: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 25: United States: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 26: United States: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 27: Canada: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 28: Canada: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 29: Asia-Pacific: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 30: Asia-Pacific: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 31: China: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 32: China: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 33: Japan: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 34: Japan: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 35: India: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 36: India: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 37: South Korea: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 38: South Korea: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 39: Australia: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 40: Australia: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 41: Indonesia: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 42: Indonesia: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 43: Others: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 44: Others: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 45: Europe: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 46: Europe: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 47: Germany: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 48: Germany: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 49: France: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 50: France: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 51: United Kingdom: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 52: United Kingdom: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 53: Italy: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 54: Italy: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 55: Spain: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 56: Spain: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 57: Russia: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 58: Russia: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 59: Others: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 60: Others: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 61: Latin America: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 62: Latin America: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 63: Brazil: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 64: Brazil: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 65: Mexico: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 66: Mexico: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 67: Others: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 68: Others: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 69: Middle East and Africa: Smart Elevator Market: Sales Value (in Million USD), 2019 & 2024
- Figure 70: Middle East and Africa: Smart Elevator Market: Breakup by Country (in %), 2024
- Figure 71: Middle East and Africa: Smart Elevator Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Global: Smart Elevator Industry: SWOT Analysis
- Figure 73: Global: Smart Elevator Industry: Value Chain Analysis
- Figure 74: Global: Smart Elevator Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Smart Elevator Market: Key Industry Highlights, 2024 & 2033
- Table 2: Global: Smart Elevator Market Forecast: Breakup by Solution (in Million USD), 2025-2033
- Table 3: Global: Smart Elevator Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 4: Global: Smart Elevator Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 5: Global: Smart Elevator Market: Competitive Structure
- Table 6: Global: Smart Elevator Market: Key Players
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