Market Overview:
The global smart and connected elevators market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for smart and connected elevators in residential, commercial, and institutional applications. The rising adoption of IoT-enabled devices is also propelling the growth of the global smart and connected elevators market. However, factors such as high installation cost and lack of standardization are restraining the growth of this market. Based on type, the global smart and connected elevators market can be segmented into card reader, biometric, touchscreen & keypad, security & control system, sensor, motor & automation system, and building management system (BMS). Among these segments, card reader held a major share in 2017 owing to its low installation cost as compared to other types of sensors.
Product Definition:
Smart and Connected Elevators are elevators that are connected to the internet and can be controlled by a computer or smartphone. They are important because they make it easier for people to get around buildings, and they can also be used to monitor traffic flow and optimize elevator usage.
Card Reader:
Card reader is a device used in elevators for processing smart cards. It is an electronic component that allows the elevator to recognize and process the information stored on a card inserted into it. The technology enables users to use their ID cards for access control as well as payment applications, thereby eliminating the need for physical tokens or keypads found in other access control systems such as door locks and turnstiles. This factor is expected to drive market growth over the forecast period.
Biometric:
Biometric technology is used in smart and connected elevators to ensure safety, security and privacy of users. It helps in identifying the user by scanning their fingerprint or face with the help of an optical sensor or a camera. The technology also ensures that only authorized person uses the elevator at any given time.
Application Insights:
The commercial segment dominated the global smart and connected elevators market in 2017. The growth of this segment can be attributed to the growing construction of high rise buildings across various regions, especially in Asia Pacific and Middle East & Africa. In addition, increasing investments by government agencies and private companies for developing new technologies will also boost product demand over the forecast period.
Residential application is expected to grow at a significant rate over the forecast period owing to rising consumer preference for home automation systems that include security, energy conservation as well as comfort enhancement features. These systems are widely supported by residential building owners or managers who are increasingly deploying connected building infrastructure owing to its benefits including reduced operating costs, increased revenue generation through improved management practices and enhanced customer experience resulting in increased adoption rates among consumers globally which eventually leads to higher product demand among residential applications worldwide.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well, owing to increasing demand for smart and connected elevators from residential applications. In North America, approximately 80% of elevator installations are concentrated in U.S., which has a high penetration rate of card readers and keypads compared to other countries’ types of systems.
Asia Pacific region accounted for more than 20% share in 2017 due to rising investments by various government organizations towards implementation of innovative technologies across different industries including transportation sector especially building management system type elevators that can manage themselves using sensors.
Growth Factors:
- Increasing demand for smart and connected elevators from the commercial sector on account of the growing need for energy efficiency and safety.
- Proliferation of smart buildings, which are equipped with advanced systems such as automation, security, and communication that require efficient elevator systems for smooth functioning.
- Growing demand from developing countries due to the increasing urbanization and development of infrastructure in these regions.
- Rising installation of elevators in residential buildings to meet the needs of a growing population base worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart and Connected Elevators Market Research Report
By Type
Card Reader, Biometric, Touchscreen & Keypad, Security & Control System, Sensor, Motor & Automation System, Building Management System
By Application
Residential, Commercial, Institutional
By Companies
Thyssenkrupp, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi, Hyundai Elevator, Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation, Fujitec, Motion Control Engineering, Thyssenkrupp, Eito&Global
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Smart and Connected Elevators Market Report Segments:
The global Smart and Connected Elevators market is segmented on the basis of:
Types
Card Reader, Biometric, Touchscreen & Keypad, Security & Control System, Sensor, Motor & Automation System, Building Management System
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Institutional
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Thyssenkrupp
- OTIS Elevator Company
- Kone Corporation
- Schindler Group
- Hitachi
- Hyundai Elevator
- Toshiba Elevators and Building Systems Corporation
- Mitsubishi Electric Corporation
- Fujitec
- Motion Control Engineering
- Thyssenkrupp
- Eito&Global
Highlights of The Smart and Connected Elevators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Card Reader
- Biometric
- Touchscreen & Keypad
- Security & Control System
- Sensor, Motor & Automation System
- Building Management System
- By Application:
- Residential
- Commercial
- Institutional
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart and Connected Elevators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart and Connected Elevators are elevators that have been upgraded with technology to make them more efficient, safe, and comfortable. They can be controlled using a smartphone app or through voice commands, and they often have features like automatic door opening and closing. Smart and Connected Elevators can also connect to other devices in the building, such as security cameras or heating systems, so that they can be managed together.
Some of the key players operating in the smart and connected elevators market are Thyssenkrupp, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi, Hyundai Elevator, Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation, Fujitec, Motion Control Engineering, Thyssenkrupp, Eito&Global.
The smart and connected elevators market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart and Connected Elevators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart and Connected Elevators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart and Connected Elevators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart and Connected Elevators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart and Connected Elevators Market Size & Forecast, 2018-2028
4.5.1 Smart and Connected Elevators Market Size and Y-o-Y Growth
4.5.2 Smart and Connected Elevators Market Absolute $ Opportunity
Chapter 5 Global Smart and Connected Elevators Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Smart and Connected Elevators Market Size Forecast by Type
5.2.1 Card Reader
5.2.2 Biometric
5.2.3 Touchscreen & Keypad
5.2.4 Security & Control System
5.2.5 Sensor
5.2.6 Motor & Automation System
5.2.7 Building Management System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart and Connected Elevators Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Smart and Connected Elevators Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Institutional
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart and Connected Elevators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart and Connected Elevators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart and Connected Elevators Analysis and Forecast
9.1 Introduction
9.2 North America Smart and Connected Elevators Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart and Connected Elevators Market Size Forecast by Type
9.6.1 Card Reader
9.6.2 Biometric
9.6.3 Touchscreen & Keypad
9.6.4 Security & Control System
9.6.5 Sensor
9.6.6 Motor & Automation System
9.6.7 Building Management System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Smart and Connected Elevators Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Institutional
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Smart and Connected Elevators Analysis and Forecast
10.1 Introduction
10.2 Europe Smart and Connected Elevators Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart and Connected Elevators Market Size Forecast by Type
10.6.1 Card Reader
10.6.2 Biometric
10.6.3 Touchscreen & Keypad
10.6.4 Security & Control System
10.6.5 Sensor
10.6.6 Motor & Automation System
10.6.7 Building Management System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Smart and Connected Elevators Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Institutional
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Smart and Connected Elevators Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart and Connected Elevators Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart and Connected Elevators Market Size Forecast by Type
11.6.1 Card Reader
11.6.2 Biometric
11.6.3 Touchscreen & Keypad
11.6.4 Security & Control System
11.6.5 Sensor
11.6.6 Motor & Automation System
11.6.7 Building Management System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Smart and Connected Elevators Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Institutional
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Smart and Connected Elevators Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart and Connected Elevators Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart and Connected Elevators Market Size Forecast by Type
12.6.1 Card Reader
12.6.2 Biometric
12.6.3 Touchscreen & Keypad
12.6.4 Security & Control System
12.6.5 Sensor
12.6.6 Motor & Automation System
12.6.7 Building Management System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Smart and Connected Elevators Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Institutional
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Smart and Connected Elevators Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart and Connected Elevators Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart and Connected Elevators Market Size Forecast by Type
13.6.1 Card Reader
13.6.2 Biometric
13.6.3 Touchscreen & Keypad
13.6.4 Security & Control System
13.6.5 Sensor
13.6.6 Motor & Automation System
13.6.7 Building Management System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Smart and Connected Elevators Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Institutional
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart and Connected Elevators Market: Competitive Dashboard
14.2 Global Smart and Connected Elevators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thyssenkrupp
14.3.2 OTIS Elevator Company
14.3.3 Kone Corporation
14.3.4 Schindler Group
14.3.5 Hitachi
14.3.6 Hyundai Elevator
14.3.7 Toshiba Elevators and Building Systems Corporation
14.3.8 Mitsubishi Electric Corporation
14.3.9 Fujitec
14.3.10 Motion Control Engineering
14.3.11 Thyssenkrupp
14.3.12 Eito&Global
