Smart Elevator Market 2021 Net Worth is US$ 38.27 billion and Forecasts by 2028 | Top Key Companies: KONE CORPORATION, Otis Elevator Company, Schindler, thyssenkrupp Elevator Technology, Hitachi Ltd., Mitsubishi Electric Corporation....

Smart Elevator Market 2021-2028

New study report " Smart Elevator Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview-

The global smart elevator market size is expected to gain momentum by exhibiting a CAGR of 9.1% between 2020 and 2027. This is attributable to the increasing focus on introducing autonomous technology and the surging demand for efficient elevators across construction sector that reduce operational costs across the globe. Fortune Business Insights, in its latest report, titled, “Smart Elevator Market Size, Share & COVID-19 Impact Analysis, By Setup (New Deployment, Modernization and Maintenance), By Installation (Low & Mid Rise and High Rise), By Carriage (Passenger and Freight), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 18.75 billion in 2019 and is projected to reach USD 38.27 billion by 2027.

COVID-19 Effect: Halting of Several On-going Construction Projects to Hinder Growth

The global economy is facing turbulent time as the COVID-19 pandemic has resulted in a complete halt of services and operations across several industries. The construction sector is among the worst hit. Owing to the stringent measures undertaken by the government agencies globally to curb the spread of the disease, the workers are under quarantine leading to the halt of the constructional activities. This is expected to restrain market growth to some extent. However, adhering to the government advisory and practicing strict safety regulations, the industry is witnessing resumption of work with a limited workforce that will lead to the market gaining traction in the near future.

Key Players-

The key players have an essential part to play in fostering the product improvement as per the demand of the consumers with ample supply in particular regions. The well-known brands are also acknowledged and aware of the potential links with the global Smart Elevator Market 2021-2028 for showing a prominent place to the key players in the market.



Top Key Players in this market are:

KONE CORPORATION (Espoo, Finland)
Otis Elevator Company (Connecticut, USA)
Schindler (Ebikon, Switzerland)
thyssenkrupp Elevator Technology (Essen, Germany)
Hitachi Ltd. (Ibaraki, Japan)
Mitsubishi Electric Corporation (Tokyo, Japan)
Bosch Security Systems (Grasbrunn, Germany)
Fujitec Co. Ltd. (Hikone, Japan)
Toshiba Elevator and Building Systems Corporation (Tokyo, Japan)
HYUNDAI ELEVATOR CO., LTD. (Gyeonggi-do, South Korea)
Johnson Controls Inc. (Cork, Ireland)
Motion Control Engineering (Alaska, United States)


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COMPETITIVE LANDSCAPE:

KONE Launches IoT-enabled Smart Elevator to Boost Sales Revenue & Strengthen its Market Position

The global market is consolidated by the presence of major companies that are striving to strengthen their position by introducing innovative products to further boost their sales revenue. For instance, in September 2019, KONE announced the launch of its new smart elevator system, KONE CareTM that is equipped with internet of things (IoT) technology to enable faster and sophisticated elevator service in India. The adoption of strategies such as merger and acquisition, collaboration, and partnership by key players is further anticipated to drive the market growth during the forecast period.

SEGMENTATION:

New Deployment Segment Held a Market Share of 41.7% in 2019

The new deployment segment, based on by setup, is anticipated to showcase a considerable growth owing to the increasing demand for energy consumption that is driving the demand for these elevators globally. The segment held a market share of about 41.7% in 2019.

REGIONAL INSIGHTS:

North America to Remain Dominant; Increasing Focus on Developing Advanced Infrastructure to Surge Demand

Among all the regions, North America stood at USD 6.33 billion in 2019 and is expected to hold the highest position in the global smart elevator market in the forthcoming years. This is ascribable to factors such as increasing focus on developing advanced infrastructure by the manufacturers that is propelling the demand for these elevators in the region.

The market in Asia-Pacific is expected to experience an exponential growth owing to the increasing focus on restructuring old elevators with innovative and advanced smart elevators in countries such as China, India, and Japan between 2020 and 2027.

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What does the Report Include?

The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by companies to maintain market stronghold between 2020 and 2027.

Table of Content:

1.Introduction

2.Executive Summary

3.Market Dynamics

4.Competition Landscape

5.Key Market Insights and Analysis, By Segments

6.Global Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

7.North America Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

8.Europe Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

9.Asia Pacific Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

10.Middle East & Africa Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

11.Latin America Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

12.Profiles of Key Players (Would be provided for 10 players only)

Continue….

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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