Smart Elevators Market Size Estimates and Forecasts By Key Vendors such as Schindler Group, Otis Elevator Company, KONE Corp., ThyssenKrupp AG, Honeywell International, Hitachi Ltd, Mitsubishi Electric Corp.
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Global Smart Elevators industry valued approximately USD 7.02 billion in 2016 is anticipated to grow with a healthy growth rate of more than 16.3% over the forecast period 2017-2025.
government programs for green technologies, increasing no. of high rise buildings, growing espousal of wireless technology, greater efficiency & security over common elevators are expected to escalate the demands of Smart Elevators.
Some of the key manufacturers involved in the Smart Elevators market are Schindler Group, Otis Elevator Company, KONE Corp., ThyssenKrupp AG, Honeywell International Inc., Hitachi Ltd., Mitsubishi Electric Corp., and Siemens Building Technologies. The companies are spending a lot on their research and development programs to keep up with the dynamically changing technologies in the market. Acquisitions and effective mergers are one of the expansion strategies taken by the key manufacturers.
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The detailed segments and sub-segment of the market are explained below:
- Automated Vehicle Storage & Retrieval System
- New Installation
- North America
- Asia Pacific
- Latin America
- Rest of the World
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