Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global SMART
Elevator Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international SMART Elevator Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global SMART Elevator Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global SMART Elevator Market is offered. In accordance with the
report, the global SMART Elevator Market is projected to expand at a CAGR of 11.6
% over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
SMART Elevator
is an advanced technology that transforms the act of travelling between floors with
integration of automated access control and security systems as against the
conventional elevators.
SMART Elevators
are faster, easier and even more efficient as compared to the older versions. There
is always a huge waiting time in front of elevators in commercial and
residential building which is the biggest concern amongst passengers. With the
technological innovation and introduction of SMART elevators , the waiting time
has considerably reduced. This is one the major factor that drives the global
SMART Elevator market. The enhanced spending capacity of construction industry
with a focus on IT integrated urban infrastructure for buildings which boost
the market growth in the forecast period. With the introduction of advanced
incorporation of automated security systems, like iris recognition, biometrics
etc., security risk associated with elevators has been fairly reduced.
High initial
investment is required for the installation of SMART elevators due to its
integration of automated access control and security systems which increases
the cost of SMART Elevators as compared to the conservative elevators.
With the rising
construction of high rise commercial and residential buildings, North America
holds major share in the global SMART Elevator market in recent years, which is
followed by APAC region and EMEA region respectively.
The number of
company mergers and acquisitions in this industry has had the highest impact on
the growth of global SMART Elevator market. In May 2019, Prescient, a multi-unit
housing construction collaborated with KONE, global leaders for elevators to
develop a fully automated SMART building for North America. Through this new
collaboration, this process streamlines how the elevator integrates with other
building system making the construction more efficient. KONE also uses the 24/7
connected services, which brings real-time monitoring and predictive
maintenance of the elevators.
The recent
pandemics of Coronovirus (Covid-19) has affected most of the industries in
various ways. Government has taken significant steps to contain the COVID-19
outbreak by restricting movement of people and encouraging social distancing.
Many places have closed down constructions which is limiting the manufacturing
operations and limiting activities for maintenance. Many manufacturing units
for elevators were badly hit in Q1, especially with the restrictions in China.
However, there has been significant recovery after the restrictions have been
loosened. However, manufacturers catering to other countries are now getting
affected with lockdowns and strict policy of the government with regards to
social distancing thereby impacting business operations considerably.
Segment Covered:
This market
intelligence report on the global SMART Elevator Market encompasses market
segments based on product type, setup, installation, carriage, application and country/regions.
In terms of type, the global SMART Elevator Market is segregated into
§ Card Based Elevators
§ Biometric Based Elevator
§ Touchscreens & Keypads Based Elevators
§ Security Controls Based Elevator
In terms of setup, the global SMART Elevator Market is segregated into
§ Elevator Access Control & Security
§ Elevator Automation
§ Elevator Modernization
§ Maintenance
In terms of Installation , the global SMART Elevator Market is segregated into
§ Low Rise
§ Mid Rise
§ High Rise
In terms of carriage, the global SMART
Elevator Market is segregated
into
§ Passenger
§ Freight
§ Others
By application, the global SMART Elevator Market is also classified into,
§ Residential
§ Commercial
§ Industrial
§ Institutional
§ Infrastructure
§ Others
By country/region, the global SMART Elevator Market has been divided into
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New
Zealand and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ Bosch Security Systems
§ Schindler Group
§ Schneider Electric
§ Honeywell International Inc.
§ Toshiba Elevator & Building Systems Corporation
§ Mitsubishi Electric Corporation
§ Kone Corporation
§ Otis Elevator Company
§ Hyundai Elevator Co. Ltd
§ Fujitec Co. Ltd
§ Motion Control Engineering
§ Thyssenkrupp Elevator Technology
§ Hitachi Ltd and many more.
Others players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as SMART Elevator related investment & spending
and developments by major players of the market are tracked in this global
report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the SMART Elevator Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world SMART Elevator Market
is done by taking into account various parameters
such as company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as Bosch Security
System, Schindler, Schneider Electric, Honeywell International Inc., Toshiba
Elevator & Building Systems Corporation, Mitsubishi Electric Corporation,
KONE Corporation, Otis Elevator Company, Hyundai Elevator Co. Ltd, Fujitec Co.
Ltd., Motion Control Engineering, ThyssenKrupp Elevator Technology, Hitachi
Ltd. and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for SMART Elevator Market
caters to the needs of various stakeholders
pertaining to this industry, namely suppliers, manufacturers, investors, and
distributors for SMART Elevator Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the SMART Elevator Market
v
Identification
of key factors driving investment opportunities in the SMART Elevator Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants