Global Smart Elevator Market Research Report, by Type, by Component, by Service, by Speed and by Application Forecast till 2032

Description

List of Tables

Global Smart Elevator Market Research Report, by Type (Passenger, Freight and Fire-proof), by Component (Maintenance, Control, and Communication), by Service (Installation, Modernization and Maintenance), by Speed and by Application (Commercial, Infrastructure, Industrial, Residential, Institutional, and Others) Forecast till 2032

Overview of the Market

In 2023, the smart elevator market was estimated to be worth USD 16,453.7 million. The smart elevator market is expected to expand at a compound annual growth rate (CAGR) of 12.87% from 2024 to 2032, from USD 18,535.1 million in 2024 to USD 48,839.9 million. In several emerging economies, the rapid rise in urbanization has a significant impact on the development of many innovative projects, such as smart urban communities. The growing number of people living in various urban locations has encouraged manufacturers and project workers to build larger structures in metropolitan areas, which in turn has increased interest in the residential elevator market.

The Smart Elevator Market study states that the densely populated cities are made up of extremely tall structures that are typically used for both residential and commercial purposes. Because they must wait a long time in the elevator, the common people are greatly inconvenienced by these tall structures. Additionally, the operational costs of these outdated elevator models are higher. Thus, the primary driver of the growing demand for residential elevators is the growing need for energy-efficient solutions.

Market Segmentation

The Smart Elevator System Market may be divided into segments according to end-user, component, speed, application, and geography, according to the Smart Elevator Market Expert.

The market for smart elevator systems is divided into several component categories, including control systems, elevators, security, access, sensors, maintenance, and communication systems.

Fast-speed, super-speed, low-speed, and high-speed are the several subcategories of the smart elevator industry's speed category.

The application category of the smart elevator industry is divided into several sectors, including institutional, commercial, infrastructure, industrial, and residential.

Government agencies, organizations related to smart elevators, regulating bodies, private construction, software vendors, forums related to smart elevators, research firms, associations related to smart elevators, policymakers, alliances related to smart elevators, building owners, various governmental bodies that undergo infrastructure modernization, and elevator associations are the various divisions of the end-user category of the smart elevator industry.

Analysis by Region

The global smart elevator market is divided into four main regions, including Asia Pacific, North America, Europe, and the rest of the world, per smart elevator market analysis. The global smart elevator market is predicted to rise steadily in North America and Europe, according to the smart elevator market analysis.

Additionally, the Asia Pacific region is anticipated to see the fastest growth in the smart elevator market throughout the course of the projection period, per the Smart Elevator Market Analysis. This is due to the fact that several developing countries, such as Bangladesh, Indonesia, and Vietnam, are continuously raising their standards of living, which will encourage more building and urbanization of structures that use these smart technologies.

Additionally, the Asia Pacific region is anticipated to see the fastest growth in the smart elevator market throughout the course of the projection period, per the Smart Elevator Market Analysis. This is since several developing countries, such as Bangladesh, Indonesia, and Vietnam, are continuously raising their standards of living, which will encourage more building and urbanization of structures that use these smart technologies.

Important Players

ThyssenKrupp AG (Germany), Otis Elevator Company (U.S.), Schindler Group (Switzerland), KONE Corporation (Finland), Johnson Controls Inc. (U.S.), Motion Control Engineering (U.S.), Mitsubishi Electric (Japan), Hyundai Elevator (South Korea), Hitachi (Japan), Fujitec (Japan), and Hyundai Elevator Co. Ltd (Iran) are a few of the main major companies in the smart elevator market.

Product Code: MRFR/CO/4057-HCR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 Data Mining Process
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 Secondary Research data flow:
3.5 PRIMARY RESEARCH:
- 3.5.1 Primary Research DATA FLOW:
- 3.5.2 Primary Research: Number of Interviews conducted
- 3.5.3 Primary Research: Regional Coverage
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 Consumption & Net Trade Approach
- 3.6.2 Revenue Analysis Approach
3.7 DATA FORECASTING
- 3.7.1 Data forecasting Technique
3.8 DATA MODELING
- 3.8.1 microeconomic factor analysis:
- 3.8.2 Data modeling:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 GROWING DEMAND FOR ENERGY-EFFICIENT AND SUSTAINABLE SOLUTIONS TRIGGERS THE MARKET
- 4.2.2 INCREASING URBANIZATION AND SMART CITIES PROMOTING SMART ELEVATOR ADOPTION 38
- 4.2.3 IMPACT OF AGING POPULATION AND GROWING ACCESSIBILITY DEMANDS
4.3 RESTRAINTS
- 4.3.1 High Cost of Smart Elevators Limits Adoption
- 4.3.2 Fluctuations in Raw Material Costs
4.4 OPPORTUNITY
- 4.4.1 INTEGRATION WITH SMART BUILDING SYSTEMS CREATES OPPORTUNITY
- 4.4.2 DEMAND FOR ENERGY-EFFICIENT AND SUSTAINABLE SOLUTIONS SHOWS PROMISING FUTURE
4.5 IMPACT OF COVID-19 ANALYSIS
- 4.5.1 IMPACT ON ELEVATOR INDUSTRY
  - 4.5.1.1 Global Economic Uncertainty
  - 4.5.1.2 Potential Long-Term Impact on Elevator Companies
  - 4.5.1.3 Risk for debt Sustainability in developing countries
- 4.5.2 IMPACT ON SMART ELEVATOR INDUSTRY
  - 4.5.2.1 Delays in Raw Material Supplies
  - 4.5.2.2 Contractor and Labor Impacts
  - 4.5.2.3 Production Shutdown
  - 4.5.2.4 Cash Flow Constraints
  - 4.5.2.5 Impact on World Trade
- 4.5.3 IMPACT ON MARKET DEMAND OF SMART ELEVATOR INDUSTRY
  - 4.5.3.1 Impact due to restriction/lockdown
  - 4.5.3.2 Impact on New Residential and Commercial Projects
- 4.5.4 POST COVID-19 SMART ELEVATOR MARKET
  - 4.5.4.1 Funding Schemes for small businesses
  - 4.5.4.2 Cash Flow Forecasting
4.6 IMPACT ANALYSIS OF COVID-19
- 4.6.1 Impact 0n CONSTRUCTION AND INFRASTRUCTURE Industry
  - 4.6.1.1 Economic Impact
- 4.6.2 Impact on Supply Chain of SMART ELEVATOR
- 4.6.3 Impact on Market Demand of Smart Elevator
  - 4.6.3.1 Impact Due to Restrictions/Lockdown
  - 4.6.3.2 Consumer Sentiments
- 4.6.4 Impact on Pricing of Smart Elevator

5 MARKET FACTOR ANALYSIS

5.1 VALUE CHAIN ANALYSIS
- 5.1.1 Raw Materials
- 5.1.2 Manufacturing / Production/ Processing
- 5.1.3 Packing
- 5.1.4 distribution
- 5.1.5 end-user
5.2 SUPPLY CHAIN ANALYSIS
- 5.2.1 Participants (At different Nodes)
  - 5.2.1.1 Raw Material suppliers
  - 5.2.1.2 Manufacturers
  - 5.2.1.3 Distribution Channel
  - 5.2.1.4 End-user
- 5.2.2 integration levels
- 5.2.3 Key Issues Addressed (Key Success Factors)
5.3 PORTER'S FIVE FORCES MODEL
- 5.3.1 Bargaining Power of Suppliers
- 5.3.2 Bargaining Power of Buyers
- 5.3.3 Threat of New Entrants
- 5.3.4 Threat of Substitutes
- 5.3.5 Intensity of Rivalry
5.4 REGULATORY FRAMEWORK, BY REGION
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 Rest of The World
5.5 TECHNOLOGY LANDSCAPE
5.6 PRODUCTION COST ANALYSIS
- 5.6.1 COST COMPONENT BREAKDOW
  - 5.6.1.1 Raw Materials and Electronics
  - 5.6.1.2 Manufacturing and Assembly
  - 5.6.1.3 Research & Development
  - 5.6.1.4 Compliance and Quality Assurance
- 5.6.2 Cost Drivers
  - 5.6.2.1 Supply Chain Dynamics
  - 5.6.2.2 Technological Integration
  - 5.6.2.3 Regulatory Compliance

6 GLOBAL SMART ELEVATOR MARKET, BY COMPONENT

6.1 INTRODUCTION
6.2 CONTROL SYSTEMS
- 6.2.1 Elevator control systems
- 6.2.2 Security control systems
  - 6.2.2.1 Surveillance camera
  - 6.2.2.2 Intruder camera system
  - 6.2.2.3 Fire alarm system
  - 6.2.2.4 Visitor management system
- 6.2.3 Access control systemS
  - 6.2.3.1 Biometrics access control systems
  - 6.2.3.2 Card-based access control systems
  - 6.2.3.3 Touch-screen & keypad based access control systems
- 6.2.4 Sensors
6.3 MAINTENANCE SYSTEMS
6.4 COMMUNICATION SYSTEMS

7 GLOBAL SMART ELEVATOR MARKET, BY SERVICE

7.1 INTRODUCTION
7.2 NEW INSTALLATION
7.3 MAINTENANCE
7.4 RENOVATION

8 GLOBAL SMART ELEVATOR MARKET, BY APPLICATION

8.1 INTRODUCTION
8.2 RESIDENTIAL
8.3 COMMERCIAL
8.4 INDUSTRIAL

9 GLOBAL SMART ELEVATOR MARKET, BY REGION

9.1 OVERVIEW
9.2 NORTH AMERICA
- 9.2.1 U.S.
- 9.2.2 CANADA
- 9.2.3 MEXICO
9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.2 FRANCE
- 9.3.3 UK
- 9.3.4 ITALY
- 9.3.5 REST OF EUROPE
9.4 ASIA PACIFIC
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 Rest of Asia pacific
9.5 SOUTH AMERICA
- 9.5.1 Brazil
- 9.5.2 Argentina
- 9.5.3 Rest of South America
9.6 MIDDLE EAST & AFRICA
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 South Africa
- 9.6.4 Rest of Middle East & Africa

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 COMPETITION DASHBOARD
10.3 COMPANY MARKET SHARE ANALYSIS, 2023
10.4 COMPETITIVE BENCHMARKING
10.5 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE SMART ELEVATORS MARKET
10.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 10.6.1 Expansion
- 10.6.2 New Product Launch
- 10.6.3 Acquisition
- 10.6.4 Collaboration
- 10.6.5 Service Deployment

11 COMPETITIVE LANDSCAPE

11.1 FUJITEC CO. LTD.
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW FUJITEC CO. LTD.: FINANCIAL OVERVIEW SNAPSHOT.
- 11.1.3 PRODUCTS OFFERed
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 Key Strategy
11.2 TOSHIBA CORPORATION
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW TOSHIBA CORPORATION: FINANCIAL OVERVIEW SNAPSHOT.
- 11.2.3 PRODUCTS OFFERed
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 Key Strategy
11.3 HONEYWELL
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW HONEYWELL: FINANCIAL OVERVIEW SNAPSHOT.
- 11.3.3 PRODUCTS OFFERed
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 Key Strategy
11.4 MITSUBISHI ELECTRIC CORPORATION
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW MITSUBISHI ELECTRIC CORPORATION: FINANCIAL OVERVIEW SNAPSHOT.
- 11.4.3 PRODUCTS OFFERed
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 Key Strategy
11.5 HYUNDAI ELEVATORS
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 PRODUCTS OFFERed
- 11.5.3 SWOT ANALYSIS
- 11.5.4 Key Strategy
11.6 HITACHI LTD.
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW HITACHI LTD.: FINANCIAL OVERVIEW SNAPSHOT.
- 11.6.3 PRODUCTS OFFERed
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 Key Strategy
11.7 SCHNEIDER GROUP
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW SCHNEIDER GROUP: FINANCIAL OVERVIEW SNAPSHOT.
- 11.7.3 PRODUCTS OFFERed
- 11.7.4 SWOT ANALYSIS
- 11.7.5 Key Strategy
11.8 OTIS WORLDWIDE 165
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEWABB: FINANCIAL OVERVIEW SNAPSHOT.
- 11.8.3 PRODUCTS OFFERed
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 Key Strategy
11.9 KONE CORPORATION
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW KONE CORPORATION: FINANCIAL OVERVIEW SNAPSHOT.
- 11.9.3 PRODUCTS OFFERed
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 Key Strategy
11.10 ROBERT BOSCH GMBH
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW ROBERT BOSCH GMBH: FINANCIAL OVERVIEW SNAPSHOT. 173
- 11.10.3 PRODUCTS OFFERed
- 11.10.4 SWOT ANALYSIS
- 11.10.5 Key Strategy
11.11 DATA CITATIONS