The global market for Smart Elevators is estimated at US$8.5 Billion in 2023 and is projected to reach US$12.7 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth of smart elevators is fueled by several factors reflecting broader technological and societal trends. Integration with building management systems is increasingly common, allowing for more sophisticated and efficient building operations. The need for enhanced building security is driving the adoption of smart elevators equipped with advanced security features. Technological innovations continue to advance elevator design, making them more appealing and functional through the use of energy recovery systems and durable materials. Additionally, increasing urbanization and the construction of high-rise buildings amplify the need for efficient elevator systems capable of handling high passenger traffic. Regulatory focus on energy efficiency and reduced environmental impact encourages the adoption of smart elevators that comply with new standards. Consumer expectations for quick and convenient transportation solutions within buildings are also shifting, prompting the installation of faster, more efficient systems. Lastly, an aging global population has highlighted the need for more accessible building designs, with smart elevators offering features that cater to elderly and disabled individuals, thereby broadening their appeal and necessity in modern infrastructure.
The growth of smart elevators is fueled by several factors reflecting broader technological and societal trends. Integration with building management systems is increasingly common, allowing for more sophisticated and efficient building operations. The need for enhanced building security is driving the adoption of smart elevators equipped with advanced security features. Technological innovations continue to advance elevator design, making them more appealing and functional through the use of energy recovery systems and durable materials. Additionally, increasing urbanization and the construction of high-rise buildings amplify the need for efficient elevator systems capable of handling high passenger traffic. Regulatory focus on energy efficiency and reduced environmental impact encourages the adoption of smart elevators that comply with new standards. Consumer expectations for quick and convenient transportation solutions within buildings are also shifting, prompting the installation of faster, more efficient systems. Lastly, an aging global population has highlighted the need for more accessible building designs, with smart elevators offering features that cater to elderly and disabled individuals, thereby broadening their appeal and necessity in modern infrastructure.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the New Installations segment, which is expected to reach US$7.5 Billion by 2030 with a CAGR of a 6.2%. The Modernization / Upgrades segment is also set to grow at 5.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.2 Billion in 2023, and China, forecasted to grow at an impressive 9.2% CAGR to reach $3.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Smart Elevators Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart Elevators Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Smart Elevators Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Bosch Elevator Cloud, Fujitec Co., Ltd., Hitachi Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 12 Featured):
- Bosch Elevator Cloud
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Honeywell Sensing and Control
- Hyundai Elevator Co., Ltd.
- Kone Corporation
- Kone Corporation
- Mitsubishi Electric Corporation
- Mitsubishi Electric US - Elevator & Escalator Division
- Otis Elevator Company
- Schindler Holding Ltd. (Schindler Group)
- ThyssenKrupp AG
- Toshiba Elevator and Building Systems Corporation
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- Bosch Elevator Cloud
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Honeywell Sensing and Control
- Hyundai Elevator Co., Ltd.
- Kone Corporation
- Kone Corporation
- Mitsubishi Electric Corporation
- Mitsubishi Electric US - Elevator & Escalator Division
- Otis Elevator Company
- Schindler Holding Ltd. (Schindler Group)
- ThyssenKrupp AG
- Toshiba Elevator and Building Systems Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 363 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 8.5 Billion |
| Forecasted Market Value ( USD | $ 12.7 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
