Smart Elevators are advanced systems that allow automated vertical transportation of goods or passengers. As this system utilizes automation, it reduces the waiting time and increases traffic management efficiency in residential, commercial and other buildings. Smart Elevator systems consist of new-age digital security system controls, i.e., biometrics, touch screen, destination dispatching & access control systems, which make them advanced. Since the elevators provide automated features and consume less energy, these elevators are labelled as “Smart Elevators”. Moreover, reduced waiting time of passengers, enhanced spending capabilities of customers in emerging markets and overall improvement in global economies are some of the major driving factors for the Smart elevators market. In spite of various advantages and driving factors, substantial initial investment in the installation of smart elevators would limit its presence, which in turn would adversely impact the global market growth.
Top players in the market are adopting expansion and product launch as major developmental strategies to remain competitive in smart elevator industry. Schindler, for instance, in Feb 2014, launched a new service in North America. This service focus on the fabrication of components such as doors, entrances, and interiors of the elevators. The facility for the consumers will enhance the quality of services to the customers. In addition to this, in May 2013, Otis Elevator, another leading brand, had launched two novel products called CompassPlus Destination Management System and the Skyrise elevator in Paris. The CompassPlus Smart Elevator System helps the customers by reducing their waiting time. Market players are adopting these strategies to expand their global reach, increase their customer base by using new technologically advanced products and improve their services; thereby, penetrating the global smart elevator services across different regions.
The global smart elevators market is segmented on the basis of product, applications and geography. Products segment provides detailed information on different products, which are used in smart elevators such as card based systems, biometrics, touch screens and keypads, security and access control systems, visitor management systems, sensors, motor drives and controllers building managements systems and many more. The application segment focuses on residential, commercial, industrial, institutional and others. Further, the market is segmented according to different geographies. The global market is closely examined by conducting research across various geographies such as North America, Europe, Asia Pacific and LAMEA.
KEY MARKET SEGMENTS
Market by Products
Market by Applications
Market by Geography