The global smart elevator market to grow at a CAGR of 14.56% during the period 2017-2021.
Global Smart Elevator Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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An elevator, which is also known as a lift in many countries, is a vertical transportation equipment that moves people or goods between the various floors of a building, shipping vessel, or any other multi-story structure. Smart elevators obtain the destination floor from the user and direct them to the elevator that will make them reach their floor with the minimum number of stops. This reduces the number of stops, makes rides more comfortable, and reduces energy consumption significantly.
According to the report, one driver in the market is focus on reducing the impact of energy costs on business. There is a continuous surge in electricity generation worldwide due to the growth in population and urbanization, due to which, utilities are running their plants at full capacity to generate more power from the existing infrastructure. Power companies are working on making power generation more efficient by adding new technological innovations like substation automation and demand response systems for power supply and energy management systems to conserve energy in conventional power plants. The addition of these technologies is enabling them to have a greater visibility of the functioning of the grid, thus enabling them to uncover the areas of inefficiencies and correct them for more efficient power production.
One trend in the market is increasing need for energy efficiency. Global economic growth has led to a rise in energy demand, and global demand for energy is likely to increase by 75% by 2030. Energy shortages are a challenge for organizations, which, therefore, are striving to solve the energy shortage crisis. Energy efficiency is the most effective way of reducing energy consumption, as it is much more economical than buying additional power from reserve plants.
Further, the report states that one challenge in the market is capital-intensive nature of the market. The installation of smart elevators is highly expensive as they have many components like automated access control systems and security systems, which are integrated with the smart elevators and increase the total cost of smart elevators when compared with conventional elevators. Moreover, smart elevator manufacturers spend huge sums of money in acquiring the necessary certifications.
- Otis Elevator
- Schindler Group
Other prominent vendors
- Hyundai Elevator Company
- Mitsubishi Electric Corporation
- Motion Control Engineering
- Toshiba Elevators and Building Systems Corporation
Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Services
Part 07: Regional Landscape
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/8kcfld/global_smart?w=5
Research and Markets
Laura Wood, Senior Manager
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