Insights on the Smart Elevator Automation System Global Market to 2028 - Size, Share, Outlook and Opportunity Analysis - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Elevator Automation System Market" report has been added to ResearchAndMarkets.com's offering.

Smart elevators are now being used nowadays in public buildings like hotels, residential homes, offices, malls, theaters, hospitals, sports venues and even airports.

These are basically designed in order to minimize total energy consumption and better manage passenger traffic within a given building. These elevators help to increase the overall productivity of a public building and also help to keep visitors safe. For example, in a large hotel or museum, smart elevators will be able to reduce the number of elevator users and make the platform more safe and convenient for everyone.

In addition, there is no need to make any major structural changes in order to use smart elevators since they do not require any major overhaul to the structure of the building.

This means that the total cost of installing a smart elevator is likely to be much lower than the total amount of money required for an existing elevator installation. The savings from the initial investment made by smart elevators will then be passed on to the customers by way of reduced operating costs. Therefore, smart elevators offer a cost effective solution to a public building's overall maintenance and operating costs.

Company Profiles

• Fujitec Co. Ltd.
• Honeywell International Inc.
• Mitsubishi Electric Corporation
• Tyco International Limited
• Hitachi Ltd.
• Schindler Group
• Kone Corporation
• ThyssenKrupp Elevator AG
• Otis Elevator Company

Market Dynamics:

Launch of new products is expected to propel growth of the global smart elevator automation system market. For instance, in July 2021, The Elevator and Escalator Division of Mitsubishi Electric US launched ELEMOTION, a modernization package to help building owners maintain the quality of existing elevator systems with targeted component updates.

Major players operating in the global smart elevator automation system market are focused on adopting M&A strategies to enhance their market share. For instance, in October 2021, 3Phase Elevator merged with Advanced Elevator, a company that provides similar services in Washington, D.C., Maryland.

Key features of the study:

• This report provides in-depth analysis of the global smart elevator automation system market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021-2028), considering 2020 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global smart elevator automation system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global smart elevator automation system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart elevator automation system market

Detail Segmentation

Global Smart Elevator Automation System Market, By service:

• Installation Service
• Repair & Maintenance Service
• Modernization Service

Global Smart Elevator Automation System Market, By Component:

• Card Reader
• Biometric
• Touch Screen and Keypad
• Security and Control System
• Sensors, Motors and Automation System
• Building Management System

Global Smart Elevator Automation System Market, By End User:

• Residential Sector
• Commercial Sector
• Hotel
• Other

Global Smart Elevator Automation System Market, By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/f87neh