Smart Elevators Market by Services, Component, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation

List of Tables

The Global Smart Elevators Market is forecasted to grow significantly, with a projected USD 22.90 billion in 2023 at a CAGR of 10.58% and expected to reach a staggering USD 46.95 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Smart Elevators Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Smart Elevators Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Services, market is studied across Maintenance Services, Modernization & Update Services, and New Installation Services. The New Installation Services commanded largest market share of 41.23% in 2022, followed by Maintenance Services.

Based on Component, market is studied across Communication System, Control System, and Maintenance System. The Control System is further studied across Access Control System, Elevator Control System, Security Control System, and Sensor. The Control System commanded largest market share of 35.76% in 2022, followed by Maintenance System.

Based on Application, market is studied across Commercial, Industrial, Institutional, and Residential. The Commercial commanded largest market share of 36.50% in 2022, followed by Institutional.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.76% in 2022, followed by Asia-Pacific.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Smart Elevators Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Smart Elevators Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Smart Elevators Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Smart Elevators Market?

4. What is the competitive strategic window for opportunities in the Global Smart Elevators Market?

5. What are the technology trends and regulatory frameworks in the Global Smart Elevators Market?

6. What is the market share of the leading vendors in the Global Smart Elevators Market?

7. What modes and strategic moves are considered suitable for entering the Global Smart Elevators Market?

Product Code: MRR-031438419450

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Smart Elevators Market, by Services, 2022 vs 2030
4.3. Smart Elevators Market, by Component, 2022 vs 2030
4.4. Smart Elevators Market, by Application, 2022 vs 2030
4.5. Smart Elevators Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in the number of high-rise and tall buildings globally
  - 5.1.1.2. Government mandates pertaining to the deployment of advanced elevators
  - 5.1.1.3. Increasing demand for energy-efficient and, secure & safe elevators
- 5.1.2. Restraints
  - 5.1.2.1. High cost and maintenance of smart elevators
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of technologically advanced smart elevators
  - 5.1.3.2. Rising focus towards energy-efficient and green buildings
- 5.1.4. Challenges
  - 5.1.4.1. Issues related to the interoperability of smart elevators
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization
- 5.9.1. Impact: Proportional to Growth of Real Estate Industry

6. Smart Elevators Market, by Services

6.1. Introduction
6.2. Maintenance Services
6.3. Modernization & Update Services
6.4. New Installation Services

7. Smart Elevators Market, by Component

7.1. Introduction
7.2. Communication System
7.3. Control System
- 7.3.1. Access Control System
- 7.3.2. Elevator Control System
- 7.3.3. Security Control System
- 7.3.4. Sensor
7.4. Maintenance System

8. Smart Elevators Market, by Application

8.1. Introduction
8.2. Commercial
8.3. Industrial
8.4. Institutional
8.5. Residential

9. Americas Smart Elevators Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Smart Elevators Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Smart Elevators Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Merger & Acquisition
  - 12.3.1.1. 3Phase Elevator & Elevator Industries Announce Merger
- 12.3.2. Agreement, Collaboration, & Partnership
  - 12.3.2.1. Telefonica and Schindler Join Forces to Provide IoT Connectivity for Elevators and Escalators Worldwide
  - 12.3.2.2. Infosys, TK Elevator Announce Strategic Collaboration
  - 12.3.2.3. DMRC Awards Contract to Johnson Lifts for Advanced and Indigenised Lifts & Escalators for Phase-IV Corridors
  - 12.3.2.4. VGSI-Zeit Elevator Cooperates to Develop Smart Elevator Technology
- 12.3.3. New Product Launch & Enhancement
  - 12.3.3.1. Otis Unveils Gen3 Smart Elevator with Enhanced Capability
  - 12.3.3.2. TK Elevator Starts New Era of Connected Elevators and Escalators
  - 12.3.3.3. Hitachi to Launch Full-Scale Smart Building Solution in Thailand
- 12.3.4. Investment & Funding
  - 12.3.4.1. Bear Robotics Bets on Elevator Interoperability with a Strategic Investment in M2MTech
- 12.3.5. Award, Recognition, & Expansion
  - 12.3.5.1. TK Elevator Launches Building Operations Platform MAX in India

13. List of Company Mentioned

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing