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Smart Elevator Automation System Market Gaining Impetus from Growing Applications
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Global Smart Elevator Automation System Market: Segmentation & Forecast
The global smart elevator automation system market is categorised on the basis of services, component, end-user and region. On the basis services, the market is segmented as installation service, repair & maintenance, modernisation. The installation service segment is anticipated to register a CAGR of 12.0% during the forecast period. On the basis of component, the global market is segmented into card reader, biometric, touch screen & keypad, security & control system, sensor motor & automation, and building management system. The revenue contribution from the building management system segment is anticipated to expand at a CAGR of 12.9% during the forecast period. On the basis of end-user, the global market is segmented into residential sector, commercial sector, hotels and others. The revenue contribution from the commercial sector segment is anticipated to expand at a CAGR of 11.5% during the forecast period.
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This report also covers trends driving each segment and offers analysis and insights regarding the potential of the smart elevator automation system market in regions including North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East and Africa. Among the regions, APEJ is projected to exhibit relatively high growth in the global market, registering a CAGR of 18.6% over the forecast period. Revenue from the smart elevator automation system market in Asia Pacific is estimated to account for over 15.4% of the global smart elevator automation system market revenue in 2017. Smart elevator automation system providers can focus on expanding across several countries in APAC and North America regions such as India, China and U.S.
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Key Market Players
Key competitors in the smart elevator automation system market profiled in the report include Fujitec, Mitsubishi, Hitachi, Kone Corporation, Otis Elevator, Schindler, ThyssenKrupp Elevator, Tyco International, and Honeywell.
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